ATEYA INFORMATIQUE : revenue, balance sheet and financial ratios

In 2023, ATEYA INFORMATIQUE achieves revenue of 738 k€. Revenue is growing positively over 4 years (CAGR: +0.4%). Significant drop of -17% vs 2022. After deducting consumption (89 k€), gross margin stands at 649 k€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 69 k€, representing 9.3% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -68%, reducing margin by 14.8 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 36 k€, i.e. 4.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 68%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 256.25. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 98 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 88 days of revenue, i.e. 181 k€ to permanently finance. Over 2019-2023, WCR increased by +79%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (42 transactions). This range of 49 223€ to 224 138€ is provided for information purposes only and requires in-depth analysis to be confirmed.