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TickerALYAF
SectorInformation Technology Services
Mkt cap$135M
EV / EBITDA28.9×
PostureQuiet Issuer
Composite30/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1734520

Alithya Group Inc.

ALYAFQUIET ISSUERQUIET

Alithya Group Inc. reads as Quiet Issuer (composite 30/100); pressure / disclosure signals dominate the posture this cycle · primary market Software & IT.

Lens

Disclosed M&A capital (2023–2025)

N/A

−99%

vs N/A in 2020–2022

Disclosed transactions

N/A

−99%

0/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

30

/100

Quiet Issuer dominates · Quiet

Financial snapshot
Revenue$489M
EBITDA$9M
Enterprise value$247M
EV / Revenue0.5×
EV / EBITDA28.9×
P/EN/A
CashN/A
Total debtN/A
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

0/100

Companies actively deploying disclosed capital into M&A

  • $12M disclosed buyer spend

Buyer Cadence

0/100

Buyer-side companies with recent filing activity

Target Probability

16/100

Issuers showing target-side patterns from filings

  • 4 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 4 activism filings

Pressure Watch

25/100

Issuers facing activism, governance, or control pressure

  • 4 activism filings
  • Latest activism 3.1y ago; discounted
  • Shareholder pressure language

Distress Watch

30/100

Issuers showing financial-distress filing patterns

  • Missing recent 10-Q
  • 4 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

19/100

Issuers with the highest filing-activity intensity

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $247M
  • 3 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $12M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
20201$12M$12MN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Horizontal Consolidation
    25%
  • Geographic Expansion
    25%
  • Talent Acquisition
    25%
  • Technology Acquisition
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • horizontal_consolidation
  • geographic_expansion
  • talent_acquisition
  • technology_acquisition
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

Alithya also seeks to be an active participant in the ongoing consolidation of the digital technology industry and to leverage its expertise and solutions to offer clients an alternative to larger traditional digital technology solution providers.

10-KFY2020

Alithya is continually looking to expand its capacity and broaden the scope of its service offerings through targeted acquisitions.

10-KFY2020

Alithya is continually seeking to expand its capacities and broaden the scope of its service offering through targeted acquisitions

10-KFY2019
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Software & IT

Market spend (2023–2025)
$217.7B
Market spend (2020–2022)
$197.1B
Recent vs prior
+10%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

28.9×EV / EBITDA

ALYAF trades at a +14.6-turn premium to the Software & IT peer median of 14.3×.

EV / Revenue
0.5×
Net debt / EBITDA
N/A
Peer median EV / EBITDA
14.3×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
Alithya Group Inc.ALYAF
28.9×0.5×N/A$489MN/A
23.4×10.7×0.2×$64.1B$27.7B
15.5×9.8×0.0×$318.3B$75.4B
14.3×4.4×0.6×$41.5B$12.1B
11.0×3.7×-0.1×$6.4B$1.7B
7.6×2.8×0.1×$21.1B$10M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Software & IT. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)82025-06-12
  • 10-Q (quarterly)0N/A
  • 8-K (event)0N/A
  • Proxy / DEF 14A0N/A
  • Activism (13D / DFAN / PREC)42023-04-19

Signals on file

  • elevated

    Activism on file

    2023-04-19

    4 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Shareholder pressure

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Alithya Group Inc.: Issuer Brief | SE-Cluster