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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 857 — 3-yr total 857
Goodwill is a Georgian hypermarket/supermarket retail chain operating large-format grocery stores in Tbilisi and other cities.
Group parent — controls 1 company · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 22.8% | 23.3% | 22.9% | 20.9% | 20.6% | 20.4% | 21.6% |
| EBITDA Margin | 9.7% | 2.6% | 6.9% | 7.1% | 5.2% | 6.8% | 5.9% |
| EBITDAR | 18,087 | 11,049 | 11,434 | 10,295 | 8,400 | 12,816 | 12,816 |
| EBITDAR Margin | 15.8% | 8.5% | 8.0% | 7.5% | 5.8% | 7.8% | 6.9% |
| EBIT Margin | 9.1% | 1.8% | 3.6% | 3.4% | 1.7% | 4.3% | 3.1% |
| Net Profit Margin | 1.2% | 1.4% | -1.8% | -3.5% | 0.0% | 4.3% | 2.3% |
| Operating Expense % of Sales | 13.1% | 20.7% | 17.4% | 16.2% | 18.0% | 16.3% | 17.2% |
| Returns | |||||||
| Return on Assets (ROA) | 5.0% | 7.6% | -4.5% | -9.7% | 0.1% | 15.4% | 10.2% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 9.0% | 6.5% | 48.4% | 49.9% | 47.1% | 28.5% | 26.7% |
| Debt-to-Equity | -0.09x | -0.07x | -1.03x | -0.79x | -0.71x | -0.55x | -0.55x |
| Debt-to-EBITDA | 0.22x | 0.48x | 2.77x | 2.59x | 2.92x | 1.18x | 1.05x |
| Equity-to-Assets | -96.4% | -97.7% | -47.0% | -62.8% | -66.8% | -52.3% | -48.6% |
| Net Debt | -1,931 | -1,201 | 24,724 | 22,601 | 18,302 | 4,243 | 1,707 |
| Cash & Equivalents | 4,335 | 2,805 | 2,633 | 2,363 | 3,807 | 8,965 | 9,694 |
| Total Debt | 2,404 | 1,604 | 27,357 | 24,964 | 22,109 | 13,208 | 11,401 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.76x | 0.70x | 0.53x | 0.56x | 0.59x | 0.71x | 0.80x |
| Quick Ratio | 0.29x | 0.20x | 0.16x | 0.17x | 0.21x | 0.36x | 0.43x |
| Cash Ratio | 0.15x | 0.10x | 0.07x | 0.07x | 0.11x | 0.24x | 0.28x |
| Total Current Assets | 21,619 | 19,549 | 19,852 | 20,208 | 20,668 | 26,743 | 27,433 |
| Total Current Liabilities | 28,599 | 28,122 | 37,613 | 36,179 | 34,826 | 37,789 | 34,458 |
| Inventory | 13,348 | 13,951 | 13,704 | 14,226 | 13,302 | 13,160 | 12,657 |
| Trade Receivables | 2,338 | 1,388 | 2,357 | 2,633 | 3,559 | 4,618 | 4,782 |
| Trade Payables | 21,382 | 22,980 | 25,897 | 25,843 | 24,732 | 29,592 | 29,652 |
| Net Working Capital | -6,980 | -8,573 | -17,761 | -15,971 | -14,158 | -11,046 | -7,025 |
| Net Working Capital % of Revenue | -6.1% | -6.6% | -12.4% | -11.7% | -9.8% | -6.7% | -3.8% |
| Trade Working Capital | -5,696 | -7,641 | -9,836 | -8,984 | -7,871 | -11,814 | -12,213 |
| Trade Working Capital % of Revenue | -5.0% | -5.9% | -6.9% | -6.6% | -5.4% | -7.2% | -6.6% |
| Change in Trade Working Capital | N/A | -1,945 | -2,195 | 852 | 1,113 | -3,943 | -399 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 6.63x | 7.13x | 8.07x | 7.60x | 8.64x | 9.97x | 11.51x |
| Days Inventory Outstanding (DIO) | 55.0 | 51.2 | 45.2 | 48.0 | 42.2 | 36.6 | 31.7 |
| Receivables Turnover | 49.04x | 93.39x | 60.88x | 51.91x | 40.70x | 35.70x | 38.82x |
| Days Sales Outstanding (DSO) | 7.4 | 3.9 | 6.0 | 7.0 | 9.0 | 10.2 | 9.4 |
| Payables Turnover | 4.14x | 4.33x | 4.27x | 4.18x | 4.65x | 4.43x | 4.91x |
| Days Payable Outstanding (DPO) | 88.2 | 84.4 | 85.5 | 87.3 | 78.5 | 82.3 | 74.3 |
| Cash Conversion Cycle | -25.7 days | -29.2 days | -34.2 days | -32.2 days | -27.3 days | -35.5 days | -33.2 days |
| Asset Turnover | 4.27x | 5.27x | 2.54x | 2.73x | 3.09x | 3.56x | 4.35x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 3,253 | 5,108 | 7,290 | 3,029 | 5,130 | 10,665 | 7,520 |
| Free Cash Flow (OCF − Capex proxy) | 3,253 | 3,944 | 4,575 | 2,238 | 3,389 | 9,203 | 6,462 |
| Cash Conversion (OCF / EBITDA) | 29.2% | 154.4% | 73.7% | 31.4% | 67.9% | 95.3% | 68.9% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 857 |
| Dividend Payout Ratio | 0.0% | 0.0% | N/A | N/A | 0.0% | 0.0% | 19.8% |
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).
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