TEKCAR : revenue, balance sheet and financial ratios

In 2025, TEKCAR achieves revenue of 2.3 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +6.1%. Significant drop of -19% vs 2024. After deducting consumption (17 k€), gross margin stands at 2.3 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 189 k€, representing 8.2% of revenue. Warning negative scissor effect: despite revenue change (-19%), EBITDA varies by -38%, reducing margin by 2.5 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Net income is negative at -202 k€ (-8.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 174%. 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 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 304.51. 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 144.1x. 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: 84 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The gap of 31 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 67 days of revenue, i.e. 434 k€ to permanently finance. Over 2016-2025, WCR increased by +911%, requiring additional financing.

Based on 131 transactions of similar company sales in 2025, the value of TEKCAR is estimated at 788 088 € (range 453 349€ - 1 648 820€). With an EBITDA of 189 458€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.50x (in line with sector norms). 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.