VOYAGE VOYAGE : revenue, balance sheet and financial ratios

VOYAGE VOYAGE is a French company founded 38 years ago, specialized in the sector Activités des agences de voyage. Based in VERNON (27200), this company of category PME shows in 2023 a revenue of 856 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - VOYAGE VOYAGE (SIREN 344175930)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 856 219 € 761 679 € 401 864 € 347 674 € 615 783 € 567 502 € 477 619 € 464 550 €
Net income 201 378 € 127 942 € 107 732 € 2 868 € 77 813 € 56 505 € 27 727 € 20 238 €
EBITDA 265 788 € 193 557 € 110 757 € 4 430 € 105 663 € 74 190 € 35 670 € 27 674 €
Net margin 23.5% 16.8% 26.8% 0.8% 12.6% 10.0% 5.8% 4.4%

Revenue and income statement

In 2023, VOYAGE VOYAGE achieves revenue of 856 k€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +9.1%. Vs 2022, growth of +12% (762 k€ -> 856 k€). After deducting consumption (0 €), gross margin stands at 856 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 266 k€, representing 31.0% of revenue. Positive scissor effect: EBITDA margin improves by +5.6 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 201 k€, i.e. 23.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

856 219 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

856 219 €

EBITDA (2023) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

265 788 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

263 146 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

201 378 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

30.8%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 17%. 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 47%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 23.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

17.4%

Financial autonomy (2023) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

46.535%

Cash flow / Revenue (2023) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

23.638%

Repayment capacity (2023) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

0.557

Asset age ratio (2023) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

11.5%

Solvency indicators evolution
VOYAGE VOYAGE

Sector positioning

Debt ratio
17.4 2023
2021
2022
2023
Q1: 0.15
Med: 18.96
Q3: 60.13
Good -20 pts over 3 years

In 2023, the debt ratio of VOYAGE VOYAGE (17.40) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
46.53% 2023
2021
2022
2023
Q1: 9.82%
Med: 25.11%
Q3: 42.61%
Excellent +14 pts over 3 years

In 2023, the financial autonomy of VOYAGE VOYAGE (46.5%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
0.56 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.16 years
Q3: 1.67 years
Average -18 pts over 3 years

In 2023, the repayment capacity of VOYAGE VOYAGE (0.56) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 208.44. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2023) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

208.435

Interest coverage (2023) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.214

Liquidity indicators evolution
VOYAGE VOYAGE

Sector positioning

Liquidity ratio
208.44 2023
2021
2022
2023
Q1: 116.15
Med: 158.12
Q3: 267.98
Good +8 pts over 3 years

In 2023, the liquidity ratio of VOYAGE VOYAGE (208.44) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
0.21x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.17x
Q3: 3.04x
Good -25 pts over 3 years

In 2023, the interest coverage of VOYAGE VOYAGE (0.2x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 250 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 356 days. Excellent situation: suppliers finance 106 days of the operating cycle (retail model). Overall, WCR represents 253 days of revenue, i.e. 602 k€ to permanently finance. Over 2016-2023, WCR increased by +70%, requiring additional financing.

Operating WCR (2023) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

601 956 €

Customer credit (2023) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

250 j

Supplier credit (2023) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

356 j

Inventory turnover (2023) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2023) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

253 j

WCR and payment terms evolution
VOYAGE VOYAGE

Positioning of VOYAGE VOYAGE in its sector

Comparison with sector Activités des agences de voyage

Valuation estimate

Based on 80 transactions of similar company sales (all years), the value of VOYAGE VOYAGE is estimated at 370 212 € (range 178 178€ - 1 035 739€). With an EBITDA of 265 788€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.38x (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.

Estimated enterprise value 2023
80 tx
178k€ 370k€ 1035k€
370 212 € Range: 178 178€ - 1 035 739€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
265 788 € × 1.6x
Estimation 431 245 €
169 615€ - 1 220 405€
Revenue Multiple 30%
856 219 € × 0.38x
Estimation 326 230 €
207 316€ - 482 373€
Net Income Multiple 20%
201 378 € × 1.4x
Estimation 283 607 €
155 879€ - 1 404 127€
How is this estimate calculated?

This estimate is based on the analysis of 80 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Activités des agences de voyage)

Compare VOYAGE VOYAGE with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des agences de voyage

Frequently asked questions about VOYAGE VOYAGE

What is the revenue of VOYAGE VOYAGE ?

The revenue of VOYAGE VOYAGE in 2023 is 856 k€.

Is VOYAGE VOYAGE profitable?

Yes, VOYAGE VOYAGE generated a net profit of 201 k€ in 2023.

Where is the headquarters of VOYAGE VOYAGE ?

The headquarters of VOYAGE VOYAGE is located in VERNON (27200), in the department Eure.

Where to find the tax return of VOYAGE VOYAGE ?

The tax return of VOYAGE VOYAGE is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does VOYAGE VOYAGE operate?

VOYAGE VOYAGE operates in the sector Activités des agences de voyage (NAF code 79.11Z). See the 'Sector positioning' section above to compare the company with its competitors.