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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 38,610 · FY2023 14,666 · FY2024 31,235 — 3-yr total 84,511
PSP Pharma LLC is one of Georgia's largest pharmacy chains and pharmaceutical wholesalers, part of PSP Holding (founded 1993). Operates 250+ PSP-branded pharmacies nationwide and an in-house insurance arm (PSP Insurance).
Group parent — controls 1 company · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 26.0% | 24.4% | 28.7% | 26.7% | 22.0% | 22.4% | 23.8% | 22.5% |
| EBITDA Margin | 8.7% | 6.4% | 10.9% | 10.8% | 9.5% | 7.5% | 7.5% | 6.8% |
| EBITDAR | 53,362 | 44,430 | 59,947 | 69,770 | 73,890 | 56,723 | 59,486 | 59,164 |
| EBITDAR Margin | 11.2% | 9.1% | 11.1% | 11.0% | 9.9% | 7.6% | 7.7% | 7.0% |
| EBIT Margin | 7.2% | 5.0% | 7.1% | 7.2% | 7.0% | 4.1% | 4.6% | 4.4% |
| Net Profit Margin | 6.9% | 5.2% | 4.6% | 2.6% | 8.3% | 6.9% | 4.6% | 3.4% |
| Operating Expense % of Sales | 18.0% | 19.0% | 17.8% | 15.9% | 12.5% | 14.9% | 16.3% | 15.7% |
| Returns | ||||||||
| Return on Assets (ROA) | 11.4% | 7.8% | 5.6% | 3.3% | 10.6% | 8.1% | 5.7% | 4.3% |
| Return on Equity (ROE) | 17.0% | 12.0% | 10.7% | 7.0% | 21.1% | 16.8% | 11.0% | 8.9% |
| ROIC [EBIT / Invested Capital] | 17.9% | 11.3% | 11.8% | 13.0% | 13.8% | 8.3% | 8.7% | 8.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.2% | 2.8% | 23.4% | 24.8% | 22.3% | 17.8% | 16.5% | 16.9% |
| Debt-to-Equity | 0.00x | 0.04x | 0.45x | 0.53x | 0.44x | 0.37x | 0.32x | 0.35x |
| Debt-to-EBITDA | 0.02x | 0.29x | 1.77x | 1.84x | 1.82x | 2.04x | 1.79x | 1.97x |
| Equity-to-Assets | 67.0% | 65.3% | 52.1% | 46.6% | 50.3% | 47.9% | 52.0% | 48.6% |
| Net Debt | -4,122 | 5,934 | 94,629 | 116,344 | 83,505 | 63,317 | 85,592 | 91,853 |
| Cash & Equivalents | 4,811 | 3,118 | 10,191 | 9,476 | 46,304 | 49,886 | 18,157 | 20,687 |
| Total Debt | 689 | 9,052 | 104,820 | 125,820 | 129,809 | 113,203 | 103,749 | 112,540 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.99x | 1.59x | 1.62x | 1.57x | 1.75x | 1.52x | 1.69x | 1.58x |
| Quick Ratio | 0.41x | 0.31x | 0.46x | 0.32x | 0.59x | 0.42x | 0.53x | 0.41x |
| Cash Ratio | 0.06x | 0.03x | 0.08x | 0.06x | 0.26x | 0.21x | 0.08x | 0.08x |
| Total Current Assets | 162,379 | 166,037 | 196,259 | 250,296 | 307,570 | 359,765 | 362,004 | 392,371 |
| Total Current Liabilities | 81,687 | 104,459 | 121,203 | 159,729 | 175,859 | 235,968 | 214,587 | 248,714 |
| Inventory | 129,072 | 133,289 | 140,422 | 199,670 | 204,420 | 261,030 | 248,937 | 291,297 |
| Trade Receivables | 22,042 | 24,403 | 37,139 | 34,517 | 50,383 | 39,214 | 91,789 | 76,883 |
| Trade Payables | 79,445 | 86,840 | 87,247 | 121,840 | 133,732 | 186,235 | 163,461 | 192,919 |
| Net Working Capital | 80,692 | 61,578 | 75,056 | 90,567 | 131,711 | 123,797 | 147,417 | 143,657 |
| Net Working Capital % of Revenue | 16.9% | 12.5% | 13.9% | 14.3% | 17.7% | 16.6% | 19.0% | 17.0% |
| Trade Working Capital | 71,669 | 70,852 | 90,314 | 112,347 | 121,071 | 114,009 | 177,265 | 175,261 |
| Trade Working Capital % of Revenue | 15.0% | 14.4% | 16.7% | 17.7% | 16.2% | 15.3% | 22.9% | 20.7% |
| Change in Trade Working Capital | N/A | -817 | 19,462 | 22,033 | 8,724 | -7,062 | 63,256 | -2,004 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.74x | 2.78x | 2.75x | 2.33x | 2.84x | 2.21x | 2.37x | 2.25x |
| Days Inventory Outstanding (DIO) | 133.3 | 131.1 | 132.7 | 156.6 | 128.4 | 164.8 | 153.7 | 162.3 |
| Receivables Turnover | 21.65x | 20.12x | 14.58x | 18.38x | 14.79x | 18.99x | 8.45x | 10.99x |
| Days Sales Outstanding (DSO) | 16.9 | 18.1 | 25.0 | 19.9 | 24.7 | 19.2 | 43.2 | 33.2 |
| Payables Turnover | 4.45x | 4.27x | 4.43x | 3.82x | 4.34x | 3.10x | 3.62x | 3.40x |
| Days Payable Outstanding (DPO) | 82.1 | 85.4 | 82.4 | 95.6 | 84.0 | 117.6 | 100.9 | 107.5 |
| Cash Conversion Cycle | 68.1 days | 63.8 days | 75.3 days | 80.9 days | 69.1 days | 66.4 days | 96.0 days | 88.0 days |
| Asset Turnover | 1.64x | 1.52x | 1.21x | 1.25x | 1.28x | 1.17x | 1.24x | 1.27x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 14,282 | 25,917 | 21,848 | 19,994 | 62,962 | 31,482 | 6,194 | 20,831 |
| Free Cash Flow (OCF − Capex proxy) | 14,282 | -9,338 | 7,339 | 8,912 | 50,078 | 17,095 | -11,316 | 19,867 |
| Cash Conversion (OCF / EBITDA) | 34.3% | 82.8% | 37.0% | 29.2% | 88.5% | 56.7% | 10.7% | 36.5% |
| Dividends Declared | 22,115 | 9,100 | 3,285 | 12,399 | 6,452 | 38,610 | 14,666 | 31,235 |
| Dividend Payout Ratio | 66.8% | 36.0% | 13.2% | 74.6% | 10.4% | 75.1% | 40.8% | 107.8% |
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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