SOCIETE HOTELIERE D'INVESTISSEMENTS ET DE PARTICIPATIONS : revenue, balance sheet and financial ratios

In 2021, SOCIETE HOTELIERE D'INVESTISSEMENTS ET DE PARTICIPATIONS achieves revenue of 62 k€. Activity remains stable over the period (CAGR: -5.0%). Vs 2020, growth of +14% (54 k€ -> 62 k€). After deducting consumption (0 €), gross margin stands at 62 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 41.3% of revenue. Positive scissor effect: EBITDA margin improves by +13.1 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 100 k€, i.e. 160.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 85%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 148.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 1618.88. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 44.6x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 108 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 2 days. The gap of 106 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-47 days): operations structurally generate cash. Notable WCR improvement over the period (-207%), freeing up cash.

Based on 98 transactions of similar company sales in 2021, the value of SOCIETE HOTELIERE D'INVESTISSEMENTS ET DE PARTICIPATIONS is estimated at 171 326 € (range 72 005€ - 391 730€). With an EBITDA of 25 595€, the sector multiple of 5.2x is applied. The price/revenue ratio is 0.46x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.