Midmasteri (შპს მიდმასტერი)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	36.8%	23.8%	38.5%	20.0%	32.5%	35.9%	54.8%
EBITDA Margin	20.6%	10.7%	25.4%	11.8%	19.6%	11.2%	26.9%
EBITDAR	473	418	879	495	738	404	922
EBITDAR Margin	21.9%	11.6%	26.3%	12.6%	20.5%	12.3%	28.0%
EBIT Margin	20.6%	10.7%	25.3%	11.8%	19.5%	10.4%	26.2%
Net Profit Margin	19.9%	10.0%	24.1%	10.8%	7.7%	7.8%	23.6%
Operating Expense % of Sales	16.2%	13.0%	13.0%	8.2%	12.9%	24.7%	27.9%
Returns
Return on Assets (ROA)	64.7%	21.0%	53.9%	27.5%	16.3%	10.1%	25.2%
Return on Equity (ROE)	83.3%	47.3%	72.7%	29.0%	16.9%	14.8%	33.4%
ROIC [EBIT / Invested Capital]	70.2%	48.3%	59.3%	34.0%	43.6%	15.5%	30.1%
Leverage & debt balances
Debt-to-Assets	22.3%	5.9%	23.6%	2.4%	0.0%	27.5%	21.3%
Debt-to-Equity	0.29x	0.13x	0.32x	0.03x	0.00x	0.40x	0.28x
Debt-to-EBITDA	0.33x	0.26x	0.42x	0.08x	0.00x	1.89x	0.74x
Equity-to-Assets	77.7%	44.4%	74.1%	94.8%	96.3%	68.3%	75.5%
Net Debt	119	35	320	-100	-27	478	551
Cash & Equivalents	30	67	33	138	27	221	102
Total Debt	149	102	353	38	N/A	699	653
Liquidity & working capital
Current Ratio	0.45x	1.80x	3.86x	19.31x	26.73x	23.86x	11.32x
Quick Ratio	0.45x	1.57x	2.92x	19.31x	26.73x	23.86x	11.32x
Cash Ratio	0.20x	0.07x	0.09x	1.72x	0.42x	2.08x	1.03x
Total Current Assets	67	1,715	1,498	1,545	1,703	2,539	1,118
Total Current Liabilities	149	953	388	80	64	106	99
Inventory	N/A	219	365	N/A	N/A	N/A	N/A
Trade Receivables	394	1,280	1,074	896	1,025	1,260	1,323
Trade Payables	N/A	852	35	42	64	106	99
Net Working Capital	-82	761	1,110	1,465	1,640	2,433	1,019
Net Working Capital % of Revenue	-3.8%	21.1%	33.2%	37.2%	45.5%	73.9%	31.0%
Trade Working Capital	394	647	1,404	854	961	1,153	1,225
Trade Working Capital % of Revenue	18.2%	18.0%	42.0%	21.7%	26.7%	35.0%	37.2%
Change in Trade Working Capital	N/A	253	757	-551	108	192	71
Turnover & efficiency
Inventory Turnover	N/A	12.56x	5.64x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	29.1	64.8	N/A	N/A	N/A	N/A
Receivables Turnover	5.49x	2.82x	3.12x	4.40x	3.52x	2.61x	2.48x
Days Sales Outstanding (DSO)	66.5	129.6	117.2	83.0	103.8	139.6	146.9
Payables Turnover	N/A	3.23x	58.83x	74.33x	38.18x	19.82x	15.05x
Days Payable Outstanding (DPO)	N/A	113.1	6.2	4.9	9.6	18.4	24.2
Cash Conversion Cycle	66.5 days	45.6 days	175.7 days	78.1 days	94.3 days	121.2 days	122.6 days
Asset Turnover	3.25x	2.10x	2.23x	2.55x	2.12x	1.30x	1.07x
Cash flow & dividends
Operating Cash Flow	16	37	458	216	N/A	358	N/A
Free Cash Flow (OCF − Capex proxy)	16	37	-0	146	N/A	196	N/A
Cash Conversion (OCF / EBITDA)	3.6%	9.5%	53.9%	46.3%	N/A	96.9%	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Midmasteri

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