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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 0 · FY2024 0
Tbilservice Group LLC is the 100%-municipally-owned operator providing Tbilisi's street cleaning, solid-waste collection, transport and recycling services, plus maintenance of underground crossings, fountains, parks and outdoor lighting. EBRD is financing the city's first waste-treatment plant via Tbilservice.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 85.3% | 81.8% | 100.0% | 100.0% | 100.0% | 89.2% | 88.6% | 90.6% |
| EBITDA Margin | -29.4% | -258.7% | -7.1% | 0.6% | 0.2% | 5.3% | 1.1% | 9.9% |
| EBITDAR | -6,569 | -60,486 | -6,101 | 582 | 202 | 7,932 | 1,763 | 19,858 |
| EBITDAR Margin | -29.4% | -258.7% | -7.1% | 0.6% | 0.2% | 5.3% | 1.1% | 9.9% |
| EBIT Margin | -62.5% | -288.9% | -16.8% | -8.5% | -8.7% | -2.7% | -10.1% | -1.1% |
| Net Profit Margin | -293.5% | -304.8% | -17.6% | -9.5% | -11.7% | -4.9% | -8.6% | 1.0% |
| Operating Expense % of Sales | 114.7% | 340.5% | 107.1% | 99.4% | 99.8% | 84.0% | 87.5% | 80.6% |
| Returns | ||||||||
| Return on Assets (ROA) | -76.7% | -56.5% | -13.6% | -9.3% | -14.5% | -5.4% | -8.2% | 0.8% |
| Return on Equity (ROE) | -80.1% | -58.7% | -14.4% | -9.8% | -17.1% | -7.0% | -14.5% | 1.7% |
| ROIC [EBIT / Invested Capital] | -19.5% | -88.1% | -16.2% | -9.3% | -13.2% | -4.2% | -20.2% | -2.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | N/A | N/A | N/A | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 95.7% | 96.4% | 94.6% | 95.0% | 85.0% | 77.7% | 56.7% | 50.4% |
| Net Debt | -10,263 | -44,850 | -15,921 | -5,464 | -2,603 | -7,551 | -14,506 | -30,100 |
| Cash & Equivalents | 10,263 | 44,850 | 15,921 | 5,464 | 2,603 | 7,551 | 14,506 | 30,100 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 7.55x | 13.76x | 7.65x | 6.62x | 2.45x | 2.28x | 1.25x | 1.23x |
| Quick Ratio | 4.06x | 11.00x | 4.73x | 2.49x | 0.70x | 1.08x | 0.63x | 0.76x |
| Cash Ratio | 2.85x | 9.81x | 3.30x | 1.35x | 0.29x | 0.56x | 0.34x | 0.58x |
| Total Current Assets | 27,220 | 62,863 | 36,847 | 26,816 | 21,929 | 30,593 | 54,051 | 63,562 |
| Total Current Liabilities | 3,605 | 4,570 | 4,819 | 4,050 | 8,965 | 13,433 | 43,100 | 51,723 |
| Inventory | 12,595 | 12,601 | 14,071 | 16,745 | 15,628 | 16,088 | 27,075 | 24,403 |
| Trade Receivables | 3,130 | 4,114 | 4,005 | 2,938 | 3,101 | 4,050 | 5,291 | 6,507 |
| Trade Payables | 3,605 | 4,570 | 2,943 | 3,015 | 5,804 | 7,826 | 9,417 | 23,446 |
| Net Working Capital | 23,616 | 58,293 | 32,028 | 22,766 | 12,964 | 17,160 | 10,951 | 11,839 |
| Net Working Capital % of Revenue | 105.8% | 249.3% | 37.1% | 23.1% | 11.3% | 11.4% | 7.0% | 5.9% |
| Trade Working Capital | 12,120 | 12,145 | 15,133 | 16,668 | 12,925 | 12,312 | 22,949 | 7,464 |
| Trade Working Capital % of Revenue | 54.3% | 51.9% | 17.5% | 16.9% | 11.2% | 8.2% | 14.7% | 3.7% |
| Change in Trade Working Capital | N/A | 25 | 2,988 | 1,535 | -3,743 | -613 | 10,637 | -15,485 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.26x | 0.34x | N/A | N/A | N/A | 1.01x | 0.66x | 0.77x |
| Days Inventory Outstanding (DIO) | 1401.2 | 1078.8 | N/A | N/A | N/A | 362.0 | 556.7 | 472.9 |
| Receivables Turnover | 7.13x | 5.68x | 21.56x | 33.48x | 37.07x | 37.18x | 29.42x | 30.71x |
| Days Sales Outstanding (DSO) | 51.2 | 64.2 | 16.9 | 10.9 | 9.8 | 9.8 | 12.4 | 11.9 |
| Payables Turnover | 0.91x | 0.93x | N/A | N/A | N/A | 2.07x | 1.89x | 0.80x |
| Days Payable Outstanding (DPO) | 401.0 | 391.3 | N/A | N/A | N/A | 176.1 | 193.6 | 454.3 |
| Cash Conversion Cycle | 1051.3 days | 751.8 days | 16.9 days | 10.9 days | 9.8 days | 195.7 days | 375.5 days | 30.4 days |
| Asset Turnover | 0.26x | 0.19x | 0.77x | 0.97x | 1.25x | 1.11x | 0.96x | 0.89x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -71,735 | 33,552 | -4,250 | -859 | 9,487 | -2,047 | -16,228 | -2,540 |
| Free Cash Flow (OCF − Capex proxy) | -71,735 | 33,552 | -28,936 | -10,459 | -2,860 | -13,841 | -36,473 | -24,764 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | -147.6% | 4696.5% | -25.8% | -920.5% | -12.8% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 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.
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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