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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Healthcare Services — Specialized medicine - private practice. Per the activity note to the FY2024 annual report, the company provides specialized allergology and immunology services as a private medical practice. Founded in 1999 in Didube district, Tbilisgi. Single-owner operation.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 37.0% | 52.5% | 37.8% | 48.3% | 46.7% | 49.1% | 52.9% |
| EBITDA Margin | 8.7% | 15.1% | 16.0% | 23.0% | 2.5% | 9.4% | 31.6% |
| EBITDAR | 240 | 394 | 367 | 784 | 85 | 424 | 1,847 |
| EBITDAR Margin | 8.7% | 15.1% | 16.0% | 23.0% | 2.5% | 9.4% | 31.6% |
| EBIT Margin | 8.7% | 15.1% | 11.0% | 19.4% | -1.4% | 5.7% | 28.0% |
| Net Profit Margin | 8.7% | 19.1% | 11.8% | 20.4% | -1.7% | 3.8% | 25.1% |
| Operating Expense % of Sales | 28.2% | 37.4% | 21.7% | 25.3% | 44.2% | 39.7% | 21.4% |
| Returns | |||||||
| Return on Assets (ROA) | 8.8% | 15.9% | 7.8% | 16.6% | -1.4% | 2.5% | 14.3% |
| Return on Equity (ROE) | 9.4% | 16.3% | 8.2% | 17.3% | -1.5% | 4.2% | 26.3% |
| ROIC [EBIT / Invested Capital] | 13.7% | 13.7% | 8.7% | 20.7% | -1.2% | 4.0% | 17.1% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 4.3% | 0.1% | 0.0% | 0.0% | 0.0% | 35.3% | 41.1% |
| Debt-to-Equity | 0.05x | 0.00x | 0.00x | 0.00x | 0.00x | 0.59x | 0.76x |
| Debt-to-EBITDA | 0.49x | 0.01x | 0.00x | 0.00x | 0.00x | 5.75x | 2.29x |
| Equity-to-Assets | 93.7% | 97.6% | 94.9% | 95.9% | 95.5% | 59.7% | 54.4% |
| Net Debt | -795 | -180 | -425 | -824 | -62 | 2,233 | 3,991 |
| Cash & Equivalents | 913 | 182 | 425 | 824 | 62 | 207 | 231 |
| Total Debt | 117 | 3 | N/A | N/A | N/A | 2,440 | 4,222 |
| Liquidity & working capital | |||||||
| Current Ratio | 23.58x | 10.01x | 5.62x | 9.48x | 5.18x | 3.14x | 6.10x |
| Quick Ratio | 23.58x | 4.20x | 3.65x | 9.48x | 5.18x | 3.14x | 6.10x |
| Cash Ratio | 18.46x | 2.84x | 2.57x | 5.15x | 0.39x | 0.69x | 0.95x |
| Total Current Assets | 1,166 | 642 | 929 | 1,516 | 813 | 948 | 1,478 |
| Total Current Liabilities | 49 | 64 | 166 | 160 | 157 | 302 | 242 |
| Inventory | N/A | 373 | 325 | N/A | N/A | N/A | N/A |
| Trade Receivables | 111 | 86 | 174 | 180 | 148 | 187 | 284 |
| Trade Payables | 49 | 33 | 131 | 126 | 154 | 298 | 239 |
| Net Working Capital | 1,116 | 578 | 764 | 1,356 | 656 | 646 | 1,236 |
| Net Working Capital % of Revenue | 40.6% | 22.2% | 33.4% | 39.8% | 19.2% | 14.3% | 21.1% |
| Trade Working Capital | 62 | 425 | 368 | 54 | -6 | -112 | 44 |
| Trade Working Capital % of Revenue | 2.2% | 16.3% | 16.1% | 1.6% | -0.2% | -2.5% | 0.8% |
| Change in Trade Working Capital | N/A | 363 | -57 | -314 | -60 | -105 | 156 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 3.33x | 4.39x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 109.7 | 83.2 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 24.71x | 30.48x | 13.16x | 18.95x | 23.19x | 24.18x | 20.64x |
| Days Sales Outstanding (DSO) | 14.8 | 12.0 | 27.7 | 19.3 | 15.7 | 15.1 | 17.7 |
| Payables Turnover | 35.01x | 37.20x | 10.84x | 13.96x | 11.86x | 7.71x | 11.51x |
| Days Payable Outstanding (DPO) | 10.4 | 9.8 | 33.7 | 26.1 | 30.8 | 47.3 | 31.7 |
| Cash Conversion Cycle | 4.3 days | 111.8 days | 77.3 days | -6.9 days | -15.0 days | -32.2 days | -14.0 days |
| Asset Turnover | 1.01x | 0.84x | 0.66x | 0.81x | 0.83x | 0.65x | 0.57x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 214 | 331 | 259 | 556 | 61 | 492 | 1,288 |
| Free Cash Flow (OCF − Capex proxy) | 214 | -613 | 236 | 399 | -686 | -2,310 | -1,754 |
| Cash Conversion (OCF / EBITDA) | 89.3% | 84.2% | 70.5% | 70.9% | 71.9% | 116.1% | 69.7% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 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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