4R SYSTEM : revenue, balance sheet and financial ratios

4R SYSTEM is a French company founded 32 years ago, specialized in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels. Based in MERE (78490), this company of category PME shows in 2022 a revenue of 988 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 - 4R SYSTEM (SIREN 394738264)
Indicator 2022 2021 2020 2019 2018 2017 2016
Revenue 988 161 € 1 467 296 € 1 243 869 € 1 047 167 € 1 056 157 € 767 717 € 723 814 €
Net income 9 348 € 4 524 € 1 628 € 13 336 € 28 515 € 8 803 € 5 158 €
EBITDA 67 865 € 32 553 € 37 104 € 41 110 € 19 213 € 17 388 € -21 976 €
Net margin 0.9% 0.3% 0.1% 1.3% 2.7% 1.1% 0.7%

Revenue and income statement

In 2022, 4R SYSTEM achieves revenue of 988 k€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +5.3%. Significant drop of -33% vs 2021. After deducting consumption (649 k€), gross margin stands at 339 k€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 68 k€, representing 6.9% of revenue. Positive scissor effect: EBITDA margin improves by +4.6 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 9 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

988 161 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

339 104 €

EBITDA (2022) ?
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

67 865 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

30 552 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

9 348 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

6.9%

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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 202%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 4.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

202.194%

Financial autonomy (2022) ?
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

14.931%

Cash flow / Revenue (2022) ?
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

4.612%

Repayment capacity (2022) ?
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

5.093

Asset age ratio (2022) ?
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

42.8%

Solvency indicators evolution
4R SYSTEM

Sector positioning

Debt ratio
202.19 2022
2020
2021
2022
Q1: 0.04
Med: 15.2
Q3: 66.84
Watch

In 2022, the debt ratio of 4R SYSTEM (202.19) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
14.93% 2022
2020
2021
2022
Q1: 13.85%
Med: 33.59%
Q3: 54.12%
Average

In 2022, the financial autonomy of 4R SYSTEM (14.9%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
5.09 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.07 years
Q3: 1.75 years
Watch

In 2022, the repayment capacity of 4R SYSTEM (5.09) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 160.83. 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 12.9x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2022) ?
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

160.827

Interest coverage (2022) ?
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

12.946

Liquidity indicators evolution
4R SYSTEM

Sector positioning

Liquidity ratio
160.83 2022
2020
2021
2022
Q1: 144.07
Med: 212.32
Q3: 334.59
Average -10 pts over 3 years

In 2022, the liquidity ratio of 4R SYSTEM (160.83) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
12.95x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.15x
Q3: 2.94x
Excellent

In 2022, the interest coverage of 4R SYSTEM (12.9x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 118 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 85 days. The gap of 33 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 88 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 168 days of revenue, i.e. 460 k€ to permanently finance. Over 2016-2022, WCR increased by +117%, requiring additional financing.

Operating WCR (2022) ?
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

460 127 €

Customer credit (2022) ?
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

118 j

Supplier credit (2022) ?
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

85 j

Inventory turnover (2022) ?
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

88 j

WCR in days of revenue (2022) ?
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

168 j

WCR and payment terms evolution
4R SYSTEM

Positioning of 4R SYSTEM in its sector

Comparison with sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Valuation estimate

Based on 61 transactions of similar company sales (all years), the value of 4R SYSTEM is estimated at 188 768 € (range 48 553€ - 316 393€). With an EBITDA of 67 865€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.33x (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 2022
61 tx
48k€ 188k€ 316k€
188 768 € Range: 48 553€ - 316 393€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
67 865 € × 2.5x
Estimation 169 630 €
37 116€ - 344 535€
Revenue Multiple 30%
988 161 € × 0.33x
Estimation 324 607 €
94 676€ - 430 628€
Net Income Multiple 20%
9 348 € × 3.5x
Estimation 32 858 €
7 967€ - 74 686€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 61 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 (Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels)

Compare 4R SYSTEM with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Frequently asked questions about 4R SYSTEM

What is the revenue of 4R SYSTEM ?

The revenue of 4R SYSTEM in 2022 is 988 k€.

Is 4R SYSTEM profitable?

Yes, 4R SYSTEM generated a net profit of 9 k€ in 2022.

Where is the headquarters of 4R SYSTEM ?

The headquarters of 4R SYSTEM is located in MERE (78490), in the department Yvelines.

Where to find the tax return of 4R SYSTEM ?

The tax return of 4R SYSTEM 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 4R SYSTEM operate?

4R SYSTEM operates in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels (NAF code 46.51Z). See the 'Sector positioning' section above to compare the company with its competitors.