Tazhi Group (შპს ტაჟი ჯგუფი)

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	47.6%	43.7%	35.2%	42.3%	44.5%	53.4%	57.3%
EBITDA Margin	22.3%	22.1%	13.8%	19.9%	10.7%	4.1%	-0.2%
EBITDAR	306	455	329	597	406	225	4
EBITDAR Margin	22.9%	22.4%	14.0%	20.1%	10.9%	4.3%	0.1%
EBIT Margin	21.2%	21.0%	12.6%	18.7%	9.3%	3.0%	-1.3%
Net Profit Margin	21.1%	21.2%	13.0%	17.8%	9.1%	2.4%	-2.0%
Operating Expense % of Sales	25.3%	21.6%	21.5%	22.4%	33.8%	49.3%	57.4%
Returns
Return on Assets (ROA)	20.4%	36.5%	23.2%	28.2%	14.2%	4.4%	-3.8%
Return on Equity (ROE)	20.9%	44.7%	32.6%	34.0%	19.0%	6.7%	-6.2%
ROIC [EBIT / Invested Capital]	46.1%	52.6%	26.8%	35.0%	23.3%	8.6%	-3.5%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	19.9%	5.0%	0.4%	0.3%	10.2%
Debt-to-Equity	0.00x	0.00x	0.28x	0.06x	0.01x	0.01x	0.16x
Debt-to-EBITDA	0.00x	0.00x	0.81x	0.16x	0.02x	0.05x	N/A
Equity-to-Assets	97.3%	81.6%	71.2%	82.9%	74.5%	65.8%	61.8%
Net Debt	-731	-152	167	36	-286	-2	174
Cash & Equivalents	731	152	96	59	296	12	126
Total Debt	N/A	N/A	263	94	10	10	300
Liquidity & working capital
Current Ratio	1.26x	1.00x	0.92x	0.55x	2.49x	1.80x	1.61x
Quick Ratio	1.26x	-1.60x	-2.78x	0.55x	2.49x	1.80x	1.61x
Cash Ratio	24.71x	0.70x	0.57x	0.26x	0.50x	0.01x	0.12x
Total Current Assets	37	217	155	123	1,491	1,725	1,738
Total Current Liabilities	30	217	168	226	598	959	1,083
Inventory	N/A	564	623	N/A	N/A	N/A	N/A
Trade Receivables	113	258	177	457	326	963	421
Trade Payables	30	217	118	226	598	912	783
Net Working Capital	8	-0	-14	-103	893	766	656
Net Working Capital % of Revenue	0.6%	-0.0%	-0.6%	-3.5%	24.0%	14.5%	11.8%
Trade Working Capital	83	605	682	231	-272	51	-362
Trade Working Capital % of Revenue	6.2%	29.8%	29.0%	7.8%	-7.3%	1.0%	-6.5%
Change in Trade Working Capital	N/A	522	78	-451	-503	323	-413
Turnover & efficiency
Inventory Turnover	N/A	2.03x	2.45x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	180.1	149.1	N/A	N/A	N/A	N/A
Receivables Turnover	11.87x	7.86x	13.27x	6.50x	11.42x	5.50x	13.20x
Days Sales Outstanding (DSO)	30.7	46.4	27.5	56.2	32.0	66.4	27.7
Payables Turnover	23.73x	5.26x	12.97x	7.58x	3.46x	2.71x	3.03x
Days Payable Outstanding (DPO)	15.4	69.4	28.1	48.2	105.6	134.8	120.4
Cash Conversion Cycle	15.4 days	157.2 days	148.4 days	8.0 days	-73.7 days	-68.4 days	-92.8 days
Asset Turnover	0.97x	1.72x	1.78x	1.58x	1.56x	1.87x	1.88x
Cash flow & dividends
Operating Cash Flow	130	-188	-56	-38	238	-284	N/A
Free Cash Flow (OCF − Capex proxy)	130	-188	-56	-38	238	-284	N/A
Cash Conversion (OCF / EBITDA)	43.7%	-41.9%	-17.2%	-6.4%	59.5%	-130.5%	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.

Tazhi Group

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