Black Si Indastri (შპს ბლექ სი ინდასტრი)

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	98.1%	98.3%	82.3%	98.6%	98.3%	93.7%	97.1%
EBITDAR	6,128	6,419	5,940	7,306	6,587	5,678	6,129
EBITDAR Margin	98.1%	98.3%	82.3%	98.6%	98.3%	93.7%	97.1%
EBIT Margin	89.0%	89.6%	74.4%	91.0%	89.8%	84.3%	88.1%
Net Profit Margin	83.1%	47.2%	27.7%	94.8%	111.5%	74.8%	80.6%
Operating Expense % of Sales	1.9%	1.7%	17.7%	1.4%	1.7%	6.3%	2.9%
Returns
Return on Assets (ROA)	16.0%	8.2%	5.0%	15.3%	15.2%	9.2%	11.7%
Return on Equity (ROE)	36.9%	18.0%	10.4%	26.8%	22.2%	11.9%	11.8%
ROIC [EBIT / Invested Capital]	19.3%	17.8%	14.7%	16.0%	12.3%	10.3%	12.9%
Leverage & debt balances
Debt-to-Assets	45.3%	42.0%	44.2%	35.1%	31.2%	22.8%	0.1%
Debt-to-Equity	1.05x	0.92x	0.91x	0.62x	0.45x	0.30x	0.00x
Debt-to-EBITDA	2.40x	2.46x	2.95x	2.20x	2.32x	1.99x	0.01x
Equity-to-Assets	43.3%	45.7%	48.3%	57.0%	68.6%	77.0%	99.5%
Net Debt	14,715	15,763	17,388	15,988	15,233	11,251	4
Cash & Equivalents	N/A	N/A	127	108	36	34	27
Total Debt	14,715	15,763	17,515	16,095	15,269	11,284	31
Liquidity & working capital
Current Ratio	5.38x	5.54x	9.51x	9.66x	307.07x	310.03x	170.58x
Quick Ratio	5.38x	5.54x	9.51x	9.66x	307.07x	310.03x	170.58x
Cash Ratio	0.00x	0.00x	0.04x	0.03x	0.28x	0.26x	0.13x
Total Current Assets	20,185	25,784	28,440	35,270	38,954	40,420	34,894
Total Current Liabilities	3,751	4,651	2,990	3,653	127	130	205
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Trade Receivables	20,185	25,784	28,313	35,163	38,918	40,386	34,867
Trade Payables	14	14	13	13	13	13	13
Net Working Capital	16,434	21,133	25,450	31,618	38,827	40,290	34,689
Net Working Capital % of Revenue	263.2%	323.6%	352.5%	426.9%	579.5%	664.8%	549.7%
Trade Working Capital	20,171	25,770	28,300	35,150	38,905	40,373	34,854
Trade Working Capital % of Revenue	323.0%	394.6%	392.0%	474.6%	580.7%	666.1%	552.3%
Change in Trade Working Capital	N/A	5,599	2,530	6,850	3,755	1,468	-5,519
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	0.31x	0.25x	0.25x	0.21x	0.17x	0.15x	0.18x
Days Sales Outstanding (DSO)	1179.9	1441.2	1431.4	1732.8	2120.3	2432.2	2016.5
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	1179.9 days	1441.2 days	1431.4 days	1732.8 days	2120.3 days	2432.2 days	2016.5 days
Asset Turnover	0.19x	0.17x	0.18x	0.16x	0.14x	0.12x	0.15x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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.

Black Si Indastri

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