INFORMATIQUE DE GESTION APPLIQUEE : revenue, balance sheet and financial ratios

In 2023, INFORMATIQUE DE GESTION APPLIQUEE achieves revenue of 491 k€. Activity remains stable over the period (CAGR: -1.1%). Slight decline of -7% vs 2021. After deducting consumption (0 €), gross margin stands at 491 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 192 k€, representing 39.1% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -33%, reducing margin by 15.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.1 M€, i.e. 421.9% of revenue. This profit can be retained or distributed to shareholders.

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 84%. 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 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 275.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 8047.56. 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 1.0x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 360 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. The gap of 287 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 2837 days of revenue, i.e. 3.9 M€ to permanently finance. Over 2016-2023, WCR increased by +84%, requiring additional financing.

Based on 63 transactions of similar company sales in 2023, the value of INFORMATIQUE DE GESTION APPLIQUEE is estimated at 4 335 292 € (range 890 411€ - 6 581 196€). With an EBITDA of 191 824€, the sector multiple of 4.6x is applied. The price/revenue ratio is 0.24x (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.