SYSTEMIQ FRANCE : revenue, balance sheet and financial ratios

In 2024, SYSTEMIQ FRANCE achieves revenue of 2.8 M€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.8%. Slight decline of -6% vs 2023. After deducting consumption (0 €), gross margin stands at 2.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 142 k€, representing 5.1% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 107 k€, i.e. 3.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 293%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 9.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 293.76. 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 5.2x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 111 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The gap of 58 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 164 days of revenue, i.e. 1.3 M€ to permanently finance. Over 2021-2024, WCR increased by +617%, requiring additional financing.

Based on 98 transactions of similar company sales (all years), the value of SYSTEMIQ FRANCE is estimated at 651 874 € (range 181 422€ - 1 089 052€). With an EBITDA of 141 643€, the sector multiple of 3.5x is applied. The price/revenue ratio is 0.36x (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.