ARMAND THIERY SAS : revenue, balance sheet and financial ratios

ARMAND THIERY SAS is a French company founded 35 years ago, specialized in the sector Commerce de détail d'habillement en magasin spécialisé. Based in LEVALLOIS-PERRET (92300), this company of category ETI shows in 2021 a revenue of 324.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - ARMAND THIERY SAS (SIREN 380622332)
Indicator 2021 2020 2019 2018 2017 2016
Revenue 324 877 740 € 276 507 591 € 395 589 276 € 376 882 306 € 391 727 704 € 381 440 110 €
Net income 29 517 373 € -12 656 826 € 21 180 023 € 18 114 447 € 18 503 077 € 20 158 095 €
EBITDA 42 722 972 € -4 540 146 € 41 804 807 € 32 635 873 € 38 058 391 € 31 802 972 €
Net margin 9.1% -4.6% 5.4% 4.8% 4.7% 5.3%

Revenue and income statement

In 2021, ARMAND THIERY SAS achieves revenue of 324.9 M€. Activity remains stable over the period (CAGR: -3.2%). Vs 2020, growth of +17% (276.5 M€ -> 324.9 M€). After deducting consumption (115.9 M€), gross margin stands at 209.0 M€, i.e. a rate of 64%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 42.7 M€, representing 13.2% of revenue. Positive scissor effect: EBITDA margin improves by +14.8 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 29.5 M€, i.e. 9.1% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2021) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

324 877 740 €

Gross margin (2021) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

208 974 741 €

EBITDA (2021) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

42 722 972 €

EBIT (2021) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

36 183 093 €

Net income (2021) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

29 517 373 €

EBITDA margin (2021) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

12.5%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 77%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 11.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2021) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.0%

Financial autonomy (2021) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

77.336%

Cash flow / Revenue (2021) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

11.393%

Repayment capacity (2021) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

0.0

Asset age ratio (2021) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

16.7%

Solvency indicators evolution
ARMAND THIERY SAS

Sector positioning

Debt ratio
0.0 2021
2019
2020
2021
Q1: 1.51
Med: 43.88
Q3: 133.57
Excellent

In 2021, the debt ratio of ARMAND THIERY SAS (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
77.34% 2021
2019
2020
2021
Q1: 12.83%
Med: 34.31%
Q3: 56.75%
Excellent

In 2021, the financial autonomy of ARMAND THIERY SAS (77.3%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
0.0 years 2021
2019
2020
2021
Q1: 0.0 years
Med: 0.69 years
Q3: 3.2 years
Excellent

In 2021, the repayment capacity of ARMAND THIERY SAS (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 243.11. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2021) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

243.113

Interest coverage (2021) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.127

Liquidity indicators evolution
ARMAND THIERY SAS

Sector positioning

Liquidity ratio
243.11 2021
2019
2020
2021
Q1: 121.53
Med: 219.62
Q3: 374.31
Good -5 pts over 3 years

In 2021, the liquidity ratio of ARMAND THIERY SAS (243.11) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
0.13x 2021
2019
2020
2021
Q1: 0.0x
Med: 0.3x
Q3: 2.69x
Average -15 pts over 3 years

In 2021, the interest coverage of ARMAND THIERY SAS (0.1x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. Excellent situation: suppliers finance 61 days of the operating cycle (retail model). Inventory turnover is 52 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 125 days of revenue, i.e. 113.0 M€ to permanently finance. Over 2016-2021, WCR increased by +77%, requiring additional financing.

Operating WCR (2021) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

113 044 458 €

Customer credit (2021) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

1 j

Supplier credit (2021) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

62 j

Inventory turnover (2021) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

52 j

WCR in days of revenue (2021) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

125 j

WCR and payment terms evolution
ARMAND THIERY SAS

Positioning of ARMAND THIERY SAS in its sector

Comparison with sector Commerce de détail d'habillement en magasin spécialisé

Valuation estimate

Based on 96 transactions of similar company sales in 2021, the value of ARMAND THIERY SAS is estimated at 148 874 441 € (range 52 694 369€ - 350 389 232€). With an EBITDA of 42 722 972€, the sector multiple of 4.2x is applied. The price/revenue ratio is 0.37x (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.

Estimated enterprise value 2021
96 tx
52694k€ 148874k€ 350389k€
148 874 441 € Range: 52 694 369€ - 350 389 232€
NAF 5 année 2021

Valuation detail by method

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EBITDA Multiple 50%
42 722 972 € × 4.2x
Estimation 181 336 893 €
53 174 400€ - 475 277 168€
Revenue Multiple 30%
324 877 740 € × 0.37x
Estimation 118 805 277 €
60 145 635€ - 230 009 391€
Net Income Multiple 20%
29 517 373 € × 3.8x
Estimation 112 822 061 €
40 317 395€ - 218 739 155€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 96 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Commerce de détail d'habillement en magasin spécialisé)

Compare ARMAND THIERY SAS with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de détail d'habillement en magasin spécialisé

Frequently asked questions about ARMAND THIERY SAS

What is the revenue of ARMAND THIERY SAS ?

The revenue of ARMAND THIERY SAS in 2021 is 324.9 M€.

Is ARMAND THIERY SAS profitable?

Yes, ARMAND THIERY SAS generated a net profit of 29.5 M€ in 2021.

Where is the headquarters of ARMAND THIERY SAS ?

The headquarters of ARMAND THIERY SAS is located in LEVALLOIS-PERRET (92300), in the department Hauts-de-Seine.

Where to find the tax return of ARMAND THIERY SAS ?

The tax return of ARMAND THIERY SAS is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does ARMAND THIERY SAS operate?

ARMAND THIERY SAS operates in the sector Commerce de détail d'habillement en magasin spécialisé (NAF code 47.71Z). See the 'Sector positioning' section above to compare the company with its competitors.