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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Operates in Healthcare Services — In-patient & out-patient services. Per the activity note to the FY2024 annual report, the company provides in-patient and out-patient healthcare services in Tbilisi.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 80.4% | 81.4% | 81.0% | 79.8% | 79.7% | 79.5% | 81.6% | 81.7% |
| EBITDA Margin | 68.0% | 29.9% | 29.7% | 31.8% | 31.7% | 22.7% | 21.6% | 24.2% |
| EBITDAR | 21,522 | 10,699 | 12,415 | 13,029 | 16,891 | 10,483 | 10,982 | 13,653 |
| EBITDAR Margin | 68.0% | 29.9% | 29.7% | 31.8% | 31.7% | 22.7% | 21.6% | 24.2% |
| EBIT Margin | 61.2% | 18.1% | 16.8% | 17.8% | 19.2% | 6.2% | 6.5% | 7.6% |
| Net Profit Margin | 20.5% | 17.2% | 14.1% | 10.6% | 21.7% | 9.0% | 5.2% | 6.7% |
| Operating Expense % of Sales | 12.5% | 51.5% | 51.6% | 48.3% | 48.5% | 57.4% | 61.1% | 58.3% |
| Returns | ||||||||
| Return on Assets (ROA) | 11.6% | 9.7% | 8.3% | 6.0% | 14.5% | 4.9% | 2.5% | 3.5% |
| Return on Equity (ROE) | 17.4% | 14.8% | 11.8% | 9.0% | 18.0% | 6.1% | 3.5% | 4.8% |
| ROIC [EBIT / Invested Capital] | 50.3% | 12.4% | 12.2% | 13.2% | 15.6% | 4.6% | 3.8% | 4.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 19.5% | 18.5% | 12.9% | 10.2% | 3.5% | 0.3% | 12.4% | 11.2% |
| Debt-to-Equity | 0.29x | 0.28x | 0.18x | 0.15x | 0.04x | 0.00x | 0.18x | 0.15x |
| Debt-to-EBITDA | 0.50x | 1.09x | 0.74x | 0.57x | 0.17x | 0.02x | 1.22x | 0.88x |
| Equity-to-Assets | 66.9% | 65.9% | 70.4% | 67.0% | 80.4% | 80.4% | 70.3% | 74.2% |
| Net Debt | 1,208 | 10,516 | 7,619 | 6,467 | 1,098 | -6,364 | 11,944 | 8,339 |
| Cash & Equivalents | 9,658 | 1,167 | 1,517 | 961 | 1,717 | 6,583 | 1,412 | 3,677 |
| Total Debt | 10,865 | 11,683 | 9,136 | 7,429 | 2,815 | 219 | 13,356 | 12,016 |
| Liquidity & working capital | ||||||||
| Current Ratio | 2.71x | 1.97x | 1.88x | 1.05x | 2.23x | 1.66x | 0.68x | 1.23x |
| Quick Ratio | 2.49x | 1.61x | 1.52x | 0.77x | 1.87x | 1.28x | 0.50x | 1.06x |
| Cash Ratio | 1.00x | 0.13x | 0.13x | 0.06x | 0.13x | 0.43x | 0.05x | 0.24x |
| Total Current Assets | 26,244 | 17,642 | 22,535 | 18,176 | 28,809 | 25,243 | 19,453 | 19,292 |
| Total Current Liabilities | 9,684 | 8,936 | 11,956 | 17,270 | 12,917 | 15,206 | 28,684 | 15,625 |
| Inventory | 2,111 | 3,247 | 4,389 | 4,904 | 4,683 | 5,806 | 5,002 | 2,656 |
| Trade Receivables | 14,475 | 13,227 | 16,628 | 12,311 | 22,409 | 12,854 | 13,038 | 12,959 |
| Trade Payables | 7,632 | 4,634 | 7,141 | 11,444 | 8,313 | 12,863 | 13,425 | 10,733 |
| Net Working Capital | 16,560 | 8,706 | 10,579 | 906 | 15,891 | 10,037 | -9,232 | 3,666 |
| Net Working Capital % of Revenue | 52.3% | 24.3% | 25.3% | 2.2% | 29.8% | 21.8% | -18.1% | 6.5% |
| Trade Working Capital | 8,954 | 11,840 | 13,877 | 5,771 | 18,778 | 5,797 | 4,615 | 4,881 |
| Trade Working Capital % of Revenue | 28.3% | 33.1% | 33.2% | 14.1% | 35.2% | 12.6% | 9.1% | 8.7% |
| Change in Trade Working Capital | N/A | 2,887 | 2,036 | -8,106 | 13,008 | -12,982 | -1,182 | 267 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.94x | 2.05x | 1.81x | 1.69x | 2.31x | 1.63x | 1.87x | 3.89x |
| Days Inventory Outstanding (DIO) | 124.3 | 178.4 | 201.3 | 215.7 | 157.7 | 224.1 | 195.3 | 93.9 |
| Receivables Turnover | 2.19x | 2.70x | 2.52x | 3.33x | 2.38x | 3.59x | 3.90x | 4.35x |
| Days Sales Outstanding (DSO) | 166.8 | 135.0 | 145.0 | 109.6 | 153.3 | 101.7 | 93.5 | 84.0 |
| Payables Turnover | 0.81x | 1.43x | 1.11x | 0.73x | 1.30x | 0.74x | 0.70x | 0.96x |
| Days Payable Outstanding (DPO) | 449.1 | 254.6 | 327.5 | 503.4 | 279.9 | 496.4 | 524.3 | 379.4 |
| Cash Conversion Cycle | -158.1 days | 58.8 days | 18.8 days | -178.0 days | 31.0 days | -170.7 days | -235.4 days | -201.6 days |
| Asset Turnover | 0.57x | 0.57x | 0.59x | 0.57x | 0.67x | 0.54x | 0.47x | 0.53x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 8,809 | 8,103 | 10,427 | 13,555 | 15,280 | 11,859 | 13,914 | 14,573 |
| Free Cash Flow (OCF − Capex proxy) | 8,809 | -7,541 | 978 | 8,802 | 345 | 7,195 | -22,300 | 3,402 |
| Cash Conversion (OCF / EBITDA) | 40.9% | 75.7% | 84.0% | 104.0% | 90.5% | 113.1% | 126.7% | 106.7% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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).
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