EXFO SOLUTIONS : revenue, balance sheet and financial ratios

EXFO SOLUTIONS is a French company founded 26 years ago, specialized in the sector Tierce maintenance de systèmes et d’applications informatiques. Based in SAINT-JACQUES-DE-LA-LANDE (35136), this company of category PME shows in 2025 a revenue of 50.7 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - EXFO SOLUTIONS (SIREN 428780241)
Indicator 2025 2024 2023 2022 2021 2020 2018 2017 2016
Revenue 50 746 598 € 52 387 960 € 50 180 282 € 58 043 858 € 46 967 964 € 25 332 728 € 16 213 779 € 38 608 418 € 46 208 333 €
Net income -6 365 748 € -8 013 995 € -20 812 959 € -5 492 130 € -8 681 754 € -14 787 552 € -8 657 792 € -14 115 707 € -3 155 653 €
EBITDA -7 543 585 € -5 821 685 € -15 234 032 € -8 860 816 € -10 616 764 € -17 112 448 € -9 711 140 € -7 876 686 € -465 194 €
Net margin -12.5% -15.3% -41.5% -9.5% -18.5% -58.4% -53.4% -36.6% -6.8%

Revenue and income statement

In 2025, EXFO SOLUTIONS achieves revenue of 50.7 M€. Revenue is growing positively over 9 years (CAGR: +1.0%). Slight decline of -3% vs 2024. After deducting consumption (18.2 M€), gross margin stands at 32.5 M€, i.e. a rate of 64%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -7.5 M€, representing -14.9% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -30%, reducing margin by 3.8 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -6.4 M€ (-12.5% of revenue), which will impact equity.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

50 746 598 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

32 498 954 €

EBITDA (2025) ?
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

-7 543 585 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-6 556 942 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-6 365 748 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-14.9%

Loading income statement...

Chart evolution

Show :

Assets

Loading data...

Liabilities

Loading data...

Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at -153%. 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 -4%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-153.218%

Financial autonomy (2025) ?
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

-4.172%

Cash flow / Revenue (2025) ?
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

-14.533%

Repayment capacity (2025) ?
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

-0.27

Asset age ratio (2025) ?
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

6.7%

Solvency indicators evolution
EXFO SOLUTIONS

Sector positioning

Debt ratio
-153.22 2025
2023
2024
2025
Q1: 0.23
Med: 7.84
Q3: 21.1
Excellent -14 pts over 3 years

In 2025, the debt ratio of EXFO SOLUTIONS (-153.22) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-4.17% 2025
2023
2024
2025
Q1: 14.7%
Med: 40.76%
Q3: 68.29%
Watch

In 2025, the financial autonomy of EXFO SOLUTIONS (-4.2%) ranks in the bottom 25% of the sector. This ratio represents the share of equity in total financing. Low autonomy may limit investment capacity and increase vulnerability.

Repayment capacity
-0.27 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.01 years
Q3: 0.69 years
Excellent

In 2025, the repayment capacity of EXFO SOLUTIONS (-0.27) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 160.39. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2025) ?
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

160.388

Interest coverage (2025) ?
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

-11.958

Liquidity indicators evolution
EXFO SOLUTIONS

Sector positioning

Liquidity ratio
160.39 2025
2023
2024
2025
Q1: 176.09
Med: 281.74
Q3: 525.62
Watch -7 pts over 3 years

In 2025, the liquidity ratio of EXFO SOLUTIONS (160.39) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-11.96x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.0x
Q3: 0.41x
Watch -23 pts over 3 years

In 2025, the interest coverage of EXFO SOLUTIONS (-12.0x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 98 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 111 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 158 days of revenue, i.e. 22.3 M€ to permanently finance.

Operating WCR (2025) ?
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

22 253 906 €

Customer credit (2025) ?
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

98 j

Supplier credit (2025) ?
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

111 j

Inventory turnover (2025) ?
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

2 j

WCR in days of revenue (2025) ?
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

158 j

WCR and payment terms evolution
EXFO SOLUTIONS

Positioning of EXFO SOLUTIONS in its sector

Comparison with sector Tierce maintenance de systèmes et d’applications informatiques

Valuation estimate

Based on 215 transactions of similar company sales (all years), the value of EXFO SOLUTIONS is estimated at 8 145 521 € (range 4 369 259€ - 14 879 052€). The price/revenue ratio is 0.16x (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.

Estimated enterprise value 2025
215 transactions
4369k€ 8145k€ 14879k€
8 145 521 € Range: 4 369 259€ - 14 879 052€
NAF 5 all-time

Valuation method used

Revenue Multiple
50 746 598 € × 0.16x = 8 145 521 €
Range: 4 369 260€ - 14 879 053€

Only this financial indicator is available for this company.

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 215 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 (Tierce maintenance de systèmes et d’applications informatiques)

Compare EXFO SOLUTIONS with other companies in the same sector:

Voir toutes les statistiques du secteur Tierce maintenance de systèmes et d’applications informatiques

Frequently asked questions about EXFO SOLUTIONS

What is the revenue of EXFO SOLUTIONS ?

The revenue of EXFO SOLUTIONS in 2025 is 50.7 M€.

Is EXFO SOLUTIONS profitable?

EXFO SOLUTIONS recorded a net loss in 2025.

Where is the headquarters of EXFO SOLUTIONS ?

The headquarters of EXFO SOLUTIONS is located in SAINT-JACQUES-DE-LA-LANDE (35136), in the department Ille-et-Vilaine.

Where to find the tax return of EXFO SOLUTIONS ?

The tax return of EXFO SOLUTIONS 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 EXFO SOLUTIONS operate?

EXFO SOLUTIONS operates in the sector Tierce maintenance de systèmes et d’applications informatiques (NAF code 62.02B). See the 'Sector positioning' section above to compare the company with its competitors.