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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 2,704 · FY2024 6,127 — 3-yr total 8,832
Georgian subsidiary of an industrial / specialty gases supplier.
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 81.8% | 78.9% | 86.0% | 88.6% | 84.0% | 85.7% | 69.7% | 77.5% |
| EBITDA Margin | 76.4% | 60.3% | 67.2% | 66.3% | 72.0% | 63.0% | 32.6% | 51.6% |
| EBITDAR | 9,049 | 5,700 | 6,361 | 5,967 | 11,677 | 6,395 | 1,656 | 4,368 |
| EBITDAR Margin | 76.4% | 60.3% | 67.2% | 66.3% | 72.0% | 63.0% | 32.6% | 51.6% |
| EBIT Margin | 75.4% | 59.3% | 66.3% | 65.5% | 71.8% | 62.6% | 31.4% | 50.4% |
| Net Profit Margin | 70.5% | 55.0% | 49.6% | 75.1% | 60.6% | 56.0% | 31.7% | 54.0% |
| Operating Expense % of Sales | 5.4% | 18.5% | 18.8% | 22.3% | 11.9% | 22.7% | 37.2% | 26.0% |
| Returns | ||||||||
| Return on Assets (ROA) | 46.1% | 53.8% | 54.4% | 43.2% | 61.8% | 26.5% | 7.9% | 23.5% |
| Return on Equity (ROE) | 46.5% | 54.5% | 55.7% | 44.5% | 64.3% | 27.1% | 8.1% | 25.0% |
| ROIC [EBIT / Invested Capital] | 50.7% | 65.9% | 82.7% | 39.5% | 82.1% | 31.5% | 8.5% | 25.8% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.0% | 0.2% | 0.2% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.03x | 0.01x |
| Equity-to-Assets | 99.3% | 98.7% | 97.6% | 97.1% | 96.1% | 97.7% | 97.4% | 94.3% |
| Net Debt | -374 | -1,028 | -835 | -274 | -1,109 | -837 | -1,033 | -1,756 |
| Cash & Equivalents | 374 | 1,028 | 835 | 274 | 1,162 | 837 | 1,075 | 1,802 |
| Total Debt | N/A | N/A | N/A | N/A | 53 | N/A | 43 | 45 |
| Liquidity & working capital | ||||||||
| Current Ratio | 102.92x | 48.12x | 23.52x | 30.24x | 19.88x | 18.04x | 33.67x | 14.02x |
| Quick Ratio | 81.79x | 21.44x | 13.09x | 21.73x | 14.78x | 10.78x | 23.45x | 9.72x |
| Cash Ratio | 2.76x | 8.33x | 4.03x | 0.70x | 1.88x | 1.67x | 2.20x | 1.61x |
| Total Current Assets | 13,956 | 5,939 | 4,878 | 11,845 | 12,273 | 9,051 | 16,459 | 15,656 |
| Total Current Liabilities | 136 | 123 | 207 | 392 | 617 | 502 | 489 | 1,117 |
| Inventory | 2,865 | 3,293 | 2,163 | 3,334 | 3,148 | 3,646 | 4,998 | 4,800 |
| Trade Receivables | 10,707 | 897 | 1,472 | 8,132 | 7,801 | 3,783 | 10,380 | 8,816 |
| Trade Payables | 136 | 123 | 207 | 448 | 536 | 467 | 436 | 27 |
| Net Working Capital | 13,820 | 5,815 | 4,670 | 11,453 | 11,655 | 8,550 | 15,970 | 14,539 |
| Net Working Capital % of Revenue | 116.7% | 61.5% | 49.3% | 127.3% | 71.9% | 84.2% | 313.9% | 171.6% |
| Trade Working Capital | 13,437 | 4,066 | 3,427 | 11,018 | 10,414 | 6,962 | 14,942 | 13,590 |
| Trade Working Capital % of Revenue | 113.4% | 43.0% | 36.2% | 122.5% | 64.3% | 68.6% | 293.7% | 160.4% |
| Change in Trade Working Capital | N/A | -9,370 | -639 | 7,591 | -604 | -3,452 | 7,980 | -1,352 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.75x | 0.61x | 0.61x | 0.31x | 0.83x | 0.40x | 0.31x | 0.40x |
| Days Inventory Outstanding (DIO) | 484.7 | 601.6 | 593.6 | 1187.0 | 442.2 | 916.4 | 1184.0 | 921.0 |
| Receivables Turnover | 1.11x | 10.54x | 6.44x | 1.11x | 2.08x | 2.68x | 0.49x | 0.96x |
| Days Sales Outstanding (DSO) | 329.9 | 34.6 | 56.7 | 330.0 | 175.7 | 136.0 | 744.7 | 379.9 |
| Payables Turnover | 15.91x | 16.19x | 6.41x | 2.29x | 4.85x | 3.11x | 3.53x | 71.35x |
| Days Payable Outstanding (DPO) | 22.9 | 22.5 | 56.9 | 159.5 | 75.3 | 117.4 | 103.3 | 5.1 |
| Cash Conversion Cycle | 791.6 days | 613.7 days | 593.4 days | 1357.4 days | 542.6 days | 935.0 days | 1825.4 days | 1295.8 days |
| Asset Turnover | 0.65x | 0.98x | 1.10x | 0.58x | 1.02x | 0.47x | 0.25x | 0.44x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -826 | 1,892 | 538 | -496 | 1,254 | 448 | 4,055 | 7,283 |
| Free Cash Flow (OCF − Capex proxy) | -826 | 333 | -160 | -605 | 1,254 | 190 | 3,000 | 6,870 |
| Cash Conversion (OCF / EBITDA) | -9.1% | 33.2% | 8.5% | -8.3% | 10.7% | 7.0% | 244.9% | 166.7% |
| Dividends Declared | 0 | 8,121 | 0 | 0 | 9,723 | 0 | 2,704 | 6,127 |
| Dividend Payout Ratio | 0.0% | 156.2% | 0.0% | 0.0% | 99.0% | 0.0% | 167.8% | 133.8% |
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).
Ranked by how close each latest revenue is to this one — not a curated comp set.