Caucasus University (შპს კავკასიის უნივერსიტეტი)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2017	2018	2019	2020	2021	2022	2023
Margins
Gross Margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	73.8%	42.4%	26.7%	38.0%	36.7%	33.6%	30.2%
EBITDAR	7,819	7,585	4,667	7,940	9,294	10,931	12,880
EBITDAR Margin	82.2%	42.6%	26.7%	38.0%	36.7%	33.6%	30.2%
EBIT Margin	70.5%	34.1%	18.1%	30.4%	30.0%	28.4%	27.1%
Net Profit Margin	22.6%	29.9%	14.8%	26.9%	27.2%	27.0%	28.5%
Operating Expense % of Sales	26.2%	57.6%	73.3%	62.0%	63.3%	66.4%	69.8%
Returns
Return on Assets (ROA)	11.7%	24.8%	11.2%	19.5%	20.8%	21.8%	21.3%
Return on Equity (ROE)	89.0%	68.8%	25.0%	35.3%	30.2%	27.8%	27.7%
ROIC [EBIT / Invested Capital]	58.3%	35.3%	17.9%	32.9%	32.1%	35.9%	33.0%
Leverage & debt balances
Debt-to-Assets	54.3%	51.0%	38.2%	22.9%	13.3%	5.5%	0.0%
Debt-to-Equity	4.13x	1.42x	0.85x	0.41x	0.19x	0.07x	0.00x
Debt-to-EBITDA	1.42x	1.45x	1.89x	0.83x	0.47x	0.20x	0.00x
Equity-to-Assets	13.2%	36.0%	44.8%	55.4%	69.1%	78.6%	76.8%
Net Debt	9,093	9,476	7,322	3,353	846	-5,873	-8,801
Cash & Equivalents	876	1,474	1,478	3,247	3,554	8,073	8,801
Total Debt	9,968	10,950	8,800	6,600	4,400	2,200	N/A
Liquidity & working capital
Current Ratio	0.52x	0.78x	0.69x	0.83x	1.06x	1.34x	1.00x
Quick Ratio	0.52x	0.78x	0.69x	0.83x	1.06x	1.34x	1.00x
Cash Ratio	0.11x	0.27x	0.24x	0.39x	0.44x	1.26x	0.67x
Total Current Assets	4,067	4,179	4,162	6,953	8,499	8,595	13,210
Total Current Liabilities	7,837	5,361	6,069	8,394	8,030	6,395	13,210
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Trade Receivables	3,166	2,580	2,548	3,440	4,774	4,684	3,678
Trade Payables	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Working Capital	-3,770	-1,182	-1,907	-1,441	469	2,200	0
Net Working Capital % of Revenue	-39.6%	-6.6%	-10.9%	-6.9%	1.8%	6.8%	0.0%
Trade Working Capital	3,166	2,580	2,548	3,440	4,774	4,684	3,678
Trade Working Capital % of Revenue	33.3%	14.5%	14.6%	16.5%	18.8%	14.4%	8.6%
Change in Trade Working Capital	N/A	-586	-32	892	1,333	-90	-1,006
Turnover & efficiency
Inventory Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Receivables Turnover	3.00x	6.90x	6.86x	6.07x	5.31x	6.95x	11.58x
Days Sales Outstanding (DSO)	121.5	52.9	53.2	60.1	68.8	52.5	31.5
Payables Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Days Payable Outstanding (DPO)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion Cycle	121.5 days	52.9 days	53.2 days	60.1 days	68.8 days	52.5 days	31.5 days
Asset Turnover	0.52x	0.83x	0.76x	0.73x	0.77x	0.81x	0.75x
Cash flow & dividends
Operating Cash Flow	4,096	4,121	3,626	8,403	7,107	11,598	20,256
Free Cash Flow (OCF − Capex proxy)	4,096	-365	2,136	3,871	2,635	7,218	2,767
Cash Conversion (OCF / EBITDA)	58.3%	54.6%	77.7%	105.8%	76.5%	106.1%	157.3%
Dividends Declared	0	0	0	0	0	0	0
Dividend Payout Ratio	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.

Caucasus University

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