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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 1,360 · FY2023 1,827 · FY2024 1,092 — 3-yr total 4,280
Orient Logic (ორიენტ ლოჯიკი) — a Tbilisi corporate IT integrator and computer-equipment reseller, on the register since November 1995 and headquartered at 71 Vaso Godziashvili St. Its departments cover network infrastructure, server infrastructure, software development, cyber security, computer and peripheral goods, international-brand warranty service and corporate-client service; declared NACE codes span computer wholesale and retail (46510, 47410), programming, IT consultancy and computer facilities management (62010, 62020, 62030, 62090) and computer repair (95110). Customers are state and private-sector organisations. Revenue is weighted to hardware resale — the FY2024 report says the period was mainly computer-equipment import and sale — with warranty and repair service and software-licence resale alongside; gross margin runs 35-41%. Held in equal 25% shares by four individuals. Holds a dormant Swedish branch (ORIENT LOGIC FILIAL SVERIGE); FY2024 statements are individual rather than consolidated because the subsidiary is dormant. Second-category (medium) enterprise. The FY2024 audit opinion is qualified on inventory, the auditor having been unable to observe the stocktake.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 28.8% | 27.2% | 29.5% | 24.5% | 31.2% | 34.9% | 41.0% | 37.1% |
| EBITDA Margin | 21.0% | 0.8% | 7.8% | -7.0% | 1.8% | 2.6% | 6.5% | 3.1% |
| EBITDAR | 6,700 | 454 | 3,835 | -1,956 | 919 | 1,217 | 2,730 | 1,440 |
| EBITDAR Margin | 21.6% | 1.3% | 8.3% | -6.1% | 2.7% | 3.3% | 7.1% | 3.7% |
| EBIT Margin | 20.5% | 0.4% | 7.3% | -8.2% | 0.5% | 1.7% | 6.0% | 2.5% |
| Net Profit Margin | 5.4% | 1.3% | 6.9% | -7.7% | 2.0% | 2.6% | 5.1% | -0.0% |
| Operating Expense % of Sales | 7.8% | 26.4% | 21.7% | 31.5% | 29.4% | 32.3% | 35.9% | 35.4% |
| Returns | ||||||||
| Return on Assets (ROA) | 12.3% | 2.4% | 15.8% | -13.5% | 4.8% | 6.2% | 12.6% | -0.1% |
| Return on Equity (ROE) | 27.0% | 7.4% | 41.3% | -54.5% | 17.0% | 26.1% | 51.4% | -0.5% |
| ROIC [EBIT / Invested Capital] | 93.6% | 4.0% | 55.1% | -225.8% | 9.2% | 17.6% | 43.4% | 11.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 11.5% | 7.1% | 11.0% | 5.1% | 0.0% | 8.9% | 15.3% | 36.2% |
| Debt-to-Equity | 0.25x | 0.22x | 0.29x | 0.21x | 0.00x | 0.38x | 0.63x | 2.21x |
| Debt-to-EBITDA | 0.24x | 4.71x | 0.61x | N/A | 0.00x | 1.46x | 0.96x | 4.96x |
| Equity-to-Assets | 45.6% | 31.8% | 38.3% | 24.7% | 28.0% | 23.7% | 24.5% | 16.4% |
| Net Debt | 561 | -1,928 | -1,620 | -3,348 | -2,253 | -204 | 1,444 | 5,590 |
| Cash & Equivalents | 1,020 | 3,213 | 3,838 | 4,285 | 2,253 | 1,589 | 951 | 418 |
| Total Debt | 1,581 | 1,285 | 2,218 | 938 | N/A | 1,385 | 2,395 | 6,008 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.26x | 1.11x | 1.24x | 0.97x | 0.94x | 0.93x | 1.02x | 0.85x |
| Quick Ratio | 0.66x | 0.57x | 0.75x | 0.60x | 0.56x | 0.50x | 0.54x | 0.37x |
| Cash Ratio | 0.14x | 0.26x | 0.31x | 0.31x | 0.21x | 0.13x | 0.08x | 0.04x |
| Total Current Assets | 8,897 | 13,451 | 15,137 | 13,192 | 9,896 | 11,018 | 11,415 | 8,277 |
| Total Current Liabilities | 7,059 | 12,169 | 12,253 | 13,619 | 10,497 | 11,880 | 11,188 | 9,750 |
| Inventory | 4,230 | 6,542 | 5,987 | 4,961 | 3,967 | 5,041 | 5,361 | 4,647 |
| Trade Receivables | 3,043 | 2,920 | 4,456 | 3,392 | 2,923 | 3,177 | 3,730 | 1,372 |
| Trade Payables | 4,969 | 7,084 | 7,151 | 8,449 | 6,857 | 6,160 | 5,324 | 4,805 |
| Net Working Capital | 1,838 | 1,282 | 2,884 | -427 | -601 | -862 | 227 | -1,472 |
| Net Working Capital % of Revenue | 5.9% | 3.8% | 6.3% | -1.3% | -1.8% | -2.4% | 0.6% | -3.8% |
| Trade Working Capital | 2,304 | 2,378 | 3,293 | -97 | 33 | 2,057 | 3,767 | 1,214 |
| Trade Working Capital % of Revenue | 7.4% | 7.0% | 7.1% | -0.3% | 0.1% | 5.6% | 9.8% | 3.1% |
| Change in Trade Working Capital | N/A | 74 | 914 | -3,389 | 130 | 2,024 | 1,710 | -2,553 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 5.23x | 3.79x | 5.43x | 4.89x | 5.93x | 4.71x | 4.22x | 5.27x |
| Days Inventory Outstanding (DIO) | 69.8 | 96.3 | 67.3 | 74.6 | 61.5 | 77.6 | 86.6 | 69.2 |
| Receivables Turnover | 10.22x | 11.66x | 10.35x | 9.48x | 11.70x | 11.46x | 10.27x | 28.38x |
| Days Sales Outstanding (DSO) | 35.7 | 31.3 | 35.3 | 38.5 | 31.2 | 31.8 | 35.5 | 12.9 |
| Payables Turnover | 4.45x | 3.50x | 4.54x | 2.87x | 3.43x | 3.85x | 4.24x | 5.10x |
| Days Payable Outstanding (DPO) | 82.0 | 104.3 | 80.3 | 127.1 | 106.4 | 94.8 | 86.0 | 71.6 |
| Cash Conversion Cycle | 23.5 days | 23.3 days | 22.2 days | -14.0 days | -13.6 days | 14.6 days | 36.1 days | 10.5 days |
| Asset Turnover | 2.26x | 1.88x | 2.28x | 1.76x | 2.35x | 2.34x | 2.45x | 2.34x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 19,356 | 3,501 | 653 | 2,875 | 152 | -772 | 68 | 1,740 |
| Free Cash Flow (OCF − Capex proxy) | 19,356 | 3,501 | 653 | 2,875 | 152 | -772 | 68 | -2,316 |
| Cash Conversion (OCF / EBITDA) | 296.8% | 1282.7% | 18.1% | N/A | 24.3% | -81.4% | 2.7% | 143.7% |
| Dividends Declared | 561 | 918 | 804 | 870 | 1,127 | 1,360 | 1,827 | 1,092 |
| Dividend Payout Ratio | 33.1% | 215.4% | 25.1% | N/A | 162.5% | 141.2% | 93.0% | 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.
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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