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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
Georgian real estate development firm.
| Ratio | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 67.5% | 42.6% | 33.4% | 26.5% |
| EBITDAR | 1,013 | 1,270 | 1,226 | 3,910 |
| EBITDAR Margin | 68.2% | 45.9% | 36.1% | 32.5% |
| EBIT Margin | 49.5% | 31.1% | 23.4% | 15.5% |
| Net Profit Margin | 49.5% | 30.7% | 17.7% | 6.1% |
| Operating Expense % of Sales | 32.5% | 57.4% | 66.6% | 73.6% |
| Returns | ||||
| Return on Assets (ROA) | 4.9% | 3.4% | 2.1% | 1.7% |
| Return on Equity (ROE) | 5.5% | 6.0% | 4.1% | 3.3% |
| ROIC [EBIT / Invested Capital] | 5.0% | 4.5% | 2.8% | 4.5% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 7.9% | 41.8% | 46.1% | 44.8% |
| Debt-to-Equity | 0.09x | 0.74x | 0.91x | 0.86x |
| Debt-to-EBITDA | 1.19x | 8.89x | 11.89x | 6.00x |
| Equity-to-Assets | 89.1% | 56.8% | 50.8% | 52.2% |
| Net Debt | 1,196 | 5,070 | 13,494 | 19,118 |
| Cash & Equivalents | 1 | 5,423 | 16 | 12 |
| Total Debt | 1,197 | 10,493 | 13,510 | 19,130 |
| Liquidity & working capital | ||||
| Current Ratio | 0.70x | 3.77x | 0.67x | 0.19x |
| Quick Ratio | 0.65x | 3.68x | 0.66x | 0.18x |
| Cash Ratio | 0.00x | 2.65x | 0.00x | 0.00x |
| Total Current Assets | 660 | 7,724 | 4,758 | 2,754 |
| Total Current Liabilities | 941 | 2,049 | 7,062 | 14,538 |
| Inventory | 46 | 180 | 94 | 76 |
| Trade Receivables | 552 | 675 | 410 | 2,324 |
| Trade Payables | 450 | 355 | 907 | 1,261 |
| Net Working Capital | -281 | 5,675 | -2,304 | -11,784 |
| Net Working Capital % of Revenue | -18.9% | 205.0% | -67.8% | -98.0% |
| Trade Working Capital | 148 | 500 | -403 | 1,139 |
| Trade Working Capital % of Revenue | 10.0% | 18.1% | -11.9% | 9.5% |
| Change in Trade Working Capital | N/A | 352 | -903 | 1,542 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A |
| Receivables Turnover | 2.69x | 4.10x | 8.29x | 5.18x |
| Days Sales Outstanding (DSO) | 135.7 | 89.0 | 44.0 | 70.5 |
| Payables Turnover | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 135.7 days | 89.0 days | 44.0 days | 70.5 days |
| Asset Turnover | 0.10x | 0.11x | 0.12x | 0.28x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 1,181 | -495 | -920 | 4,860 |
| Free Cash Flow (OCF − Capex proxy) | -1,156 | -3,802 | -8,396 | -5,588 |
| Cash Conversion (OCF / EBITDA) | 117.9% | -41.9% | -81.0% | 152.4% |
| Dividends Declared | 33 | 0 | 0 | 0 |
| Dividend Payout Ratio | 4.5% | 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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