TEVAH SYSTEMES : revenue, balance sheet and financial ratios

In 2024, TEVAH SYSTEMES achieves revenue of 43.0 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +37.3%. Vs 2023, growth of +30% (33.2 M€ -> 43.0 M€). After deducting consumption (28.6 M€), gross margin stands at 14.4 M€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.7 M€, representing 13.1% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.9 M€, i.e. 9.2% 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 53%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.4% 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 255.37. 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 4.4x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 72 days. Excellent situation: suppliers finance 41 days of the operating cycle (retail model). Inventory turnover is 108 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 143 days of revenue, i.e. 17.1 M€ to permanently finance. Over 2015-2024, WCR increased by +2528%, requiring additional financing.

Based on 215 transactions of similar company sales (all years), the value of TEVAH SYSTEMES is estimated at 5 993 791 € (range 2 655 777€ - 19 394 133€). With an EBITDA of 5 652 202€, 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.