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Stock Analysis & ValuationTrilogiq S.A. (ALTRI.PA)

Professional Stock Screener
Previous Close
5.15
Sector Valuation Confidence Level
Moderate
Valuation methodValue, Upside, %
Artificial intelligence (AI)75.111358
Intrinsic value (DCF)5.568
Graham-Dodd Method11.56125
Graham Formula1.33-74

Strategic Investment Analysis

Company Overview

Trilogiq S.A. (ALTRI.PA) is a France-based industrial company specializing in the design and manufacture of modular systems for the automotive sector. Founded in 1992 and headquartered in Cergy-Pontoise, the company provides a range of products including cantilevers, workstations, flow racks, trolleys, display units, shelves, and conveyors, along with essential components like connectors, supports, tubes, and rails. Operating both domestically and internationally, Trilogiq serves automotive manufacturers with efficient, customizable solutions that enhance workflow and storage efficiency. As part of the Industrials sector, Trilogiq plays a critical role in optimizing production lines and logistics for automotive clients, leveraging its expertise in modular design. With a market capitalization of approximately €21.5 million, the company maintains a niche but stable position in the Business Equipment & Supplies industry. Its focus on innovation and adaptability makes it a key player in supporting automotive manufacturing efficiency.

Investment Summary

Trilogiq S.A. presents a niche investment opportunity within the industrial modular systems space, primarily serving the automotive sector. The company exhibits financial stability with €24.07 million in revenue and €1.55 million in net income for the fiscal year ending March 2024. Its strong operating cash flow (€2.83 million) and minimal debt (€21,000) suggest a healthy balance sheet. However, the lack of dividend payouts may deter income-focused investors. The company’s beta of 0.718 indicates lower volatility compared to the broader market, appealing to conservative investors. While Trilogiq benefits from its specialized focus on automotive modular solutions, its small market cap and limited international diversification pose risks in terms of scalability and exposure to automotive industry cyclicality. Investors should weigh its stable financials against potential growth constraints in a highly specialized market.

Competitive Analysis

Trilogiq S.A. competes in the modular industrial systems market, primarily targeting automotive manufacturers. Its competitive advantage lies in its deep specialization in modular solutions, offering customization and efficiency for production and logistics workflows. The company’s product range—from workstations to conveyors—provides integrated solutions that larger, more diversified industrial suppliers may not match in terms of tailored service. However, Trilogiq’s relatively small scale limits its ability to compete on price with global industrial giants. Its focus on the automotive sector also exposes it to industry downturns, though its niche expertise helps maintain customer loyalty. The company’s financial health, marked by strong cash flow and minimal debt, supports its ability to invest in R&D and maintain product quality. Yet, competition from larger firms with broader supply chain capabilities and digital automation offerings could pressure Trilogiq’s market position. Its success hinges on sustaining innovation and deepening client relationships in the automotive space.

Major Competitors

  • KN S.A. (KN.PA): KN S.A. operates in the industrial equipment sector, providing similar modular solutions but with a broader focus beyond automotive. Its larger scale allows for competitive pricing, but Trilogiq’s specialized automotive expertise gives it an edge in customization. KN’s diversified client base reduces sector-specific risks but may lack Trilogiq’s depth in automotive workflows.
  • Dassault Systèmes SE (DSY.PA): Dassault Systèmes offers advanced digital solutions for industrial design and manufacturing, including modular system simulations. While not a direct competitor in physical modular systems, its software competes with Trilogiq’s design services. Dassault’s global reach and tech-driven approach pose a long-term threat as industries digitize, though Trilogiq retains an advantage in hands-on modular hardware.
  • Rexel S.A. (RXL.PA): Rexel is a major distributor of electrical and industrial equipment, including some modular components. Its vast distribution network and product breadth overshadow Trilogiq’s niche focus, but Rexel lacks Trilogiq’s specialized automotive solutions. Trilogiq’s tailored offerings provide differentiation, though Rexel’s scale is a competitive threat in commoditized segments.
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