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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 1,653 · FY2023 1,050 · FY2024 1,880 — 3-yr total 4,583
Medinservi (სს კომპანია მედინსერვი) — a mid-size Georgian pharmaceutical importer/distributor (joint-stock company, ~196 employees). Revenue ~GEL 16–19m through 2017–2022, tapering toward 2024; ranked among Georgia's top-10 pharmaceutical importers (ranked ~9th by import value in 2010). A wholesale/import distributor, not a retail pharmacy.
Group parent — controls 2 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 34.4% | 31.5% | 31.8% | 33.8% | 32.5% | 26.4% | 44.6% | 43.0% |
| EBITDA Margin | 25.5% | 10.0% | 9.7% | 14.3% | 18.1% | 13.3% | 31.1% | 17.6% |
| EBITDAR | 4,481 | 1,920 | 1,580 | 2,639 | 3,566 | 2,554 | 4,496 | 1,538 |
| EBITDAR Margin | 27.3% | 11.6% | 9.8% | 14.4% | 18.1% | 13.3% | 31.1% | 17.6% |
| EBIT Margin | 24.1% | 8.6% | 7.1% | 12.0% | 15.5% | 11.2% | 28.5% | 13.4% |
| Net Profit Margin | 4.3% | 3.6% | 9.4% | 5.4% | 12.5% | 4.5% | 29.1% | 7.1% |
| Operating Expense % of Sales | 8.9% | 21.5% | 22.1% | 19.9% | 17.1% | 17.5% | 17.1% | 28.7% |
| Returns | ||||||||
| Return on Assets (ROA) | 4.1% | 3.3% | 8.6% | 3.1% | 7.8% | 2.8% | 13.3% | 3.0% |
| Return on Equity (ROE) | 6.1% | 5.2% | 12.7% | 3.7% | 8.6% | 3.1% | 13.5% | 3.2% |
| ROIC [EBIT / Invested Capital] | 51.0% | 19.5% | 12.1% | 9.1% | 12.4% | 10.3% | 16.8% | 10.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 3.5% | 1.4% | 0.5% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.05x | 0.02x | 0.01x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.40x | 0.17x | 0.05x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 67.3% | 64.2% | 67.7% | 85.1% | 91.4% | 91.4% | 98.8% | 96.0% |
| Net Debt | -3,695 | -4,120 | -2,556 | -2,654 | -4,244 | -7,170 | -6,734 | -8,697 |
| Cash & Equivalents | 3,695 | 4,120 | 3,174 | 3,106 | 4,407 | 7,170 | 6,734 | 8,697 |
| Total Debt | N/A | N/A | 618 | 451 | 163 | N/A | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 2.96x | 2.86x | 2.15x | 2.62x | 4.58x | 4.18x | 28.66x | 12.64x |
| Quick Ratio | 1.68x | 1.76x | 0.87x | 1.04x | 3.09x | 3.67x | 22.70x | 11.87x |
| Cash Ratio | 1.05x | 1.03x | 0.63x | 0.73x | 1.76x | 2.72x | 17.44x | 10.57x |
| Total Current Assets | 10,404 | 11,424 | 10,858 | 11,074 | 11,465 | 11,029 | 11,068 | 10,392 |
| Total Current Liabilities | 3,510 | 3,998 | 5,044 | 4,231 | 2,503 | 2,636 | 386 | 822 |
| Inventory | 4,504 | 4,379 | 6,489 | 6,686 | 3,726 | 1,347 | 2,301 | 631 |
| Trade Receivables | 2,205 | 2,746 | 1,149 | 1,193 | 3,194 | 2,467 | 1,857 | 801 |
| Trade Payables | 3,510 | 3,998 | 4,859 | 3,978 | 2,382 | 2,524 | 366 | 807 |
| Net Working Capital | 6,893 | 7,427 | 5,814 | 6,843 | 8,961 | 8,393 | 10,682 | 9,570 |
| Net Working Capital % of Revenue | 41.9% | 45.0% | 36.1% | 37.3% | 45.4% | 43.7% | 73.8% | 109.3% |
| Trade Working Capital | 3,198 | 3,128 | 2,780 | 3,901 | 4,538 | 1,290 | 3,793 | 625 |
| Trade Working Capital % of Revenue | 19.4% | 19.0% | 17.3% | 21.3% | 23.0% | 6.7% | 26.2% | 7.1% |
| Change in Trade Working Capital | N/A | -70 | -348 | 1,121 | 637 | -3,248 | 2,503 | -3,167 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.39x | 2.58x | 1.69x | 1.81x | 3.57x | 10.49x | 3.48x | 7.91x |
| Days Inventory Outstanding (DIO) | 152.4 | 141.5 | 215.9 | 201.2 | 102.2 | 34.8 | 104.8 | 46.2 |
| Receivables Turnover | 7.46x | 6.01x | 14.00x | 15.36x | 6.18x | 7.79x | 7.79x | 10.92x |
| Days Sales Outstanding (DSO) | 48.9 | 60.8 | 26.1 | 23.8 | 59.1 | 46.9 | 46.8 | 33.4 |
| Payables Turnover | 3.07x | 2.83x | 2.26x | 3.05x | 5.59x | 5.60x | 21.92x | 6.18x |
| Days Payable Outstanding (DPO) | 118.8 | 129.1 | 161.6 | 119.7 | 65.3 | 65.2 | 16.6 | 59.0 |
| Cash Conversion Cycle | 82.6 days | 73.1 days | 80.3 days | 105.3 days | 95.9 days | 16.5 days | 135.0 days | 20.5 days |
| Asset Turnover | 0.97x | 0.93x | 0.91x | 0.58x | 0.63x | 0.63x | 0.46x | 0.43x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 1,550 | 1,134 | 1,496 | 999 | 2,472 | 5,257 | 1,715 | 3,844 |
| Free Cash Flow (OCF − Capex proxy) | 1,550 | 940 | 1,465 | 870 | 2,445 | 4,958 | 477 | 3,628 |
| Cash Conversion (OCF / EBITDA) | 37.0% | 68.8% | 96.1% | 38.2% | 69.3% | 205.8% | 38.2% | 249.9% |
| Dividends Declared | 824 | 616 | 959 | 788 | 592 | 1,653 | 1,050 | 1,880 |
| Dividend Payout Ratio | 117.1% | 104.5% | 63.2% | 79.3% | 24.0% | 191.3% | 24.9% | 302.4% |
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.
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
Ranked by how close each latest revenue is to this one — not a curated comp set.