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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 15 · FY2023 20 — 3-yr total 35
Operates in Industrial Goods — Production - Metal Products. Per the activity note to the FY2023 annual report, the company produces metal building structures and components, and rents its owned property.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 44.3% | 44.4% | 44.9% | 23.4% | 9.1% | 19.9% |
| EBITDA Margin | 10.5% | 9.0% | 2.0% | 11.1% | -6.6% | 2.0% |
| EBITDAR | 616 | 407 | 116 | 1,634 | -593 | 235 |
| EBITDAR Margin | 10.9% | 9.6% | 2.5% | 11.1% | -6.3% | 2.2% |
| EBIT Margin | 9.8% | 7.4% | 0.7% | 10.7% | -9.5% | -0.2% |
| Net Profit Margin | 8.5% | 5.7% | 2.0% | 9.2% | -9.8% | -2.8% |
| Operating Expense % of Sales | 33.7% | 35.5% | 42.9% | 12.4% | 15.8% | 17.8% |
| Returns | ||||||
| Return on Assets (ROA) | 23.5% | 11.3% | 1.2% | 20.2% | -3.1% | -1.2% |
| Return on Equity (ROE) | 46.9% | 19.1% | 36.4% | 82.1% | -4.4% | -1.4% |
| ROIC [EBIT / Invested Capital] | 37.7% | 17.1% | 2.3% | 36.1% | -3.9% | -0.1% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 31.3% | 32.9% | 27.9% | 43.9% | 8.7% | 10.6% |
| Debt-to-Equity | 0.62x | 0.56x | 8.25x | 1.79x | 0.12x | 0.12x |
| Debt-to-EBITDA | 1.07x | 1.86x | 22.64x | 1.82x | N/A | 11.85x |
| Equity-to-Assets | 50.2% | 58.8% | 3.4% | 24.6% | 71.0% | 85.7% |
| Net Debt | 443 | 576 | 1,218 | 2,704 | 2,261 | 2,281 |
| Cash & Equivalents | 196 | 132 | 871 | 266 | 273 | 232 |
| Total Debt | 639 | 708 | 2,090 | 2,970 | 2,534 | 2,513 |
| Liquidity & working capital | ||||||
| Current Ratio | 4.23x | 9.82x | 1.28x | 2.06x | 1.19x | 1.65x |
| Quick Ratio | 4.23x | 9.82x | 1.28x | 1.40x | 0.39x | 1.13x |
| Cash Ratio | 0.76x | 1.16x | 0.17x | 0.11x | 0.04x | 0.17x |
| Total Current Assets | 1,099 | 1,113 | 6,540 | 4,793 | 7,241 | 2,314 |
| Total Current Liabilities | 260 | 113 | 5,127 | 2,324 | 6,110 | 1,401 |
| Inventory | N/A | N/A | N/A | 1,534 | 4,844 | 738 |
| Trade Receivables | 762 | 856 | 1,202 | 2,989 | 1,341 | 1,135 |
| Trade Payables | 106 | 91 | 5,060 | 2,132 | 5,890 | 883 |
| Net Working Capital | 839 | 1,000 | 1,413 | 2,468 | 1,131 | 914 |
| Net Working Capital % of Revenue | 14.9% | 23.5% | 30.4% | 16.7% | 12.1% | 8.7% |
| Trade Working Capital | 656 | 765 | -3,858 | 2,391 | 295 | 989 |
| Trade Working Capital % of Revenue | 11.6% | 18.0% | -83.0% | 16.2% | 3.2% | 9.5% |
| Change in Trade Working Capital | N/A | 109 | -4,623 | 6,249 | -2,097 | 695 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | N/A | N/A | 7.37x | 1.75x | 11.37x |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | 49.5 | 208.2 | 32.1 |
| Receivables Turnover | 7.41x | 4.97x | 3.86x | 4.94x | 6.97x | 9.22x |
| Days Sales Outstanding (DSO) | 49.2 | 73.4 | 94.5 | 73.9 | 52.4 | 39.6 |
| Payables Turnover | 29.59x | 26.07x | 0.51x | 5.30x | 1.44x | 9.50x |
| Days Payable Outstanding (DPO) | 12.3 | 14.0 | 721.5 | 68.9 | 253.2 | 38.4 |
| Cash Conversion Cycle | 36.9 days | 59.4 days | -627.1 days | 54.6 days | 7.4 days | 33.3 days |
| Asset Turnover | 2.77x | 1.97x | 0.62x | 2.18x | 0.32x | 0.44x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 5,750 | -64 | 740 | 18,514 | 709 | 63 |
| Free Cash Flow (OCF − Capex proxy) | 5,722 | -64 | 740 | 18,514 | 298 | 35 |
| Cash Conversion (OCF / EBITDA) | 964.8% | -16.9% | 801.3% | 1132.9% | N/A | 29.6% |
| Dividends Declared | N/A | N/A | N/A | 0 | 15 | 20 |
| Dividend Payout Ratio | N/A | N/A | N/A | 0.0% | 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.
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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