INFORMATIQUE ET SECURITE : revenue, balance sheet and financial ratios

In 2024, INFORMATIQUE ET SECURITE achieves revenue of 856 k€. Activity remains stable over the period (CAGR: -1.4%). Significant drop of -12% vs 2023. After deducting consumption (217 k€), gross margin stands at 640 k€, i.e. a rate of 75%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 46 k€, representing 5.3% of revenue. Warning negative scissor effect: despite revenue change (-12%), EBITDA varies by -67%, reducing margin by 8.9 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 30 k€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 49%. 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 3.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 60.06. 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 1.2x. 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: 96 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 252 days. Excellent situation: suppliers finance 156 days of the operating cycle (retail model). Overall, WCR represents 13 days of revenue, i.e. 31 k€ to permanently finance. Over 2017-2024, WCR increased by +132%, requiring additional financing.

Based on 215 transactions of similar company sales (all years), the value of INFORMATIQUE ET SECURITE is estimated at 72 349 € (range 34 348€ - 199 804€). With an EBITDA of 45 755€, the sector multiple of 1.0x is applied. 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.