SYSTEMIQUE : revenue, balance sheet and financial ratios

In 2024, SYSTEMIQUE achieves revenue of 3.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.8%. Vs 2023, growth of +24% (2.9 M€ -> 3.6 M€). After deducting consumption (677 k€), gross margin stands at 2.9 M€, i.e. a rate of 81%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 451 k€, representing 12.6% of revenue. Positive scissor effect: EBITDA margin improves by +7.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 354 k€, i.e. 9.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 35%. The balance between equity and debt is satisfactory. 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 16.3% 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 143.81. 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 0.3x. 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: 94 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. The company must finance 20 days of gap between collections and payments. Inventory turnover is 17 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-76 days): operations structurally generate cash. Notable WCR improvement over the period (-169%), freeing up cash.

Based on 98 transactions of similar company sales (all years), the value of SYSTEMIQUE is estimated at 1 514 150 € (range 391 754€ - 2 517 482€). With an EBITDA of 450 856€, 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.