SIREN : 792268021
ZENHORSE is a French company founded 13 years ago, specialized in the sector Vente à distance sur catalogue spécialisé. Based in HASTINGUES (40300), this company of category PME shows in 2023 a revenue of 358 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
| Indicator | 2023 | 2019 | 2017 | 2015 |
|---|---|---|---|---|
| Revenue | 357 663 € | 120 984 € | 90 975 € | 22 451 € |
| Net income | 25 914 € | 16 953 € | 6 314 € | -2 232 € |
| EBITDA | 31 254 € | 20 714 € | 7 382 € | -2 233 € |
| Net margin | 7.2% | 14.0% | 6.9% | -9.9% |
In 2023, ZENHORSE achieves revenue of 358 k€. Over the period 2015-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +41.3%. Vs 2019, growth of +196% (121 k€ -> 358 k€). After deducting consumption (220 k€), gross margin stands at 138 k€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 31 k€, representing 8.7% of revenue. Warning negative scissor effect: despite revenue change (+196%), EBITDA varies by +51%, reducing margin by 8.4 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 26 k€, i.e. 7.2% of revenue. This profit can be retained or distributed to shareholders.
357 663 €
137 731 €
31 254 €
30 435 €
25 914 €
8.7%
The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 70%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.
4.648%
69.769%
7.452%
0.158
28.3%
In 2023, the debt ratio of ZENHORSE (4.65) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.
In 2023, the financial autonomy of ZENHORSE (69.8%) 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.
In 2023, the repayment capacity of ZENHORSE (0.16) 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.
The liquidity ratio (= Current assets / Current liabilities) stands at 355.95. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.
355.948
0.0
In 2023, the liquidity ratio of ZENHORSE (355.95) 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.
In 2023, the interest coverage of ZENHORSE (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. Favorable situation: supplier credit is longer than customer credit by 17 days. Inventory turnover is 76 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 69 days of revenue, i.e. 69 k€ to permanently finance. Over 2015-2023, WCR increased by +900%, requiring additional financing.
68 600 €
2 j
19 j
76 j
69 j
Based on 121 transactions of similar company sales (all years), the value of ZENHORSE is estimated at 98 221 € (range 44 896€ - 230 116€). With an EBITDA of 31 254€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.
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This estimate is based on the analysis of 121 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare ZENHORSE with other companies in the same sector:
Voir toutes les statistiques du secteur Vente à distance sur catalogue spécialisé
The revenue of ZENHORSE in 2023 is 358 k€.
Yes, ZENHORSE generated a net profit of 26 k€ in 2023.
The headquarters of ZENHORSE is located in HASTINGUES (40300), in the department Landes.
The tax return of ZENHORSE 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).
ZENHORSE operates in the sector Vente à distance sur catalogue spécialisé (NAF code 47.91B). See the 'Sector positioning' section above to compare the company with its competitors.