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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 6,051 · FY2022 18,632 · FY2023 9,007 — 3-yr total 33,690
Feri is a Georgian retail/distribution business; specific activity not clearly differentiated publicly.
Group parent — controls 3 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 49.0% | 31.3% | 81.4% | 88.4% | 89.9% | 78.9% | 60.3% |
| EBITDA Margin | 21.0% | 11.7% | 5.3% | -5.1% | 37.1% | 29.3% | 20.6% |
| EBITDAR | 19,086 | 18,279 | 2,659 | 92 | 32,102 | 28,926 | 24,033 |
| EBITDAR Margin | 30.1% | 15.0% | 7.4% | 0.3% | 39.9% | 30.2% | 22.7% |
| EBIT Margin | 18.1% | 9.8% | -1.2% | -12.1% | 30.5% | 25.1% | 16.5% |
| Net Profit Margin | 23.0% | 23.4% | 10.3% | 35.7% | 38.3% | 29.2% | 13.8% |
| Operating Expense % of Sales | 28.0% | 19.6% | 76.2% | 93.4% | 52.8% | 49.7% | 39.8% |
| Returns | |||||||
| Return on Assets (ROA) | 10.4% | 20.2% | 3.1% | 7.1% | 13.6% | 11.3% | 6.7% |
| Return on Equity (ROE) | 18.7% | 28.1% | 4.0% | 10.5% | 22.8% | 19.3% | 9.8% |
| ROIC [EBIT / Invested Capital] | 14.5% | 11.1% | -0.5% | -3.8% | 16.5% | 16.9% | 9.6% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 3.4% | 5.4% | 4.1% | 3.5% | 20.2% | 9.4% | 16.5% |
| Debt-to-Equity | 0.06x | 0.08x | 0.05x | 0.05x | 0.34x | 0.16x | 0.24x |
| Debt-to-EBITDA | 0.35x | 0.54x | 2.53x | N/A | 1.53x | 0.83x | 1.64x |
| Equity-to-Assets | 55.7% | 71.9% | 78.9% | 67.7% | 59.7% | 58.3% | 69.2% |
| Net Debt | 1,012 | 6,235 | 2,412 | -5,857 | 13,424 | -2,756 | 32,860 |
| Cash & Equivalents | 3,692 | 1,409 | 2,377 | 11,527 | 32,234 | 26,082 | 2,980 |
| Total Debt | 4,704 | 7,644 | 4,789 | 5,670 | 45,658 | 23,326 | 35,840 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.99x | 0.94x | 0.98x | 1.17x | 1.29x | 1.13x | 1.06x |
| Quick Ratio | 0.81x | 0.57x | 0.63x | 0.90x | 1.02x | 0.57x | 0.61x |
| Cash Ratio | 0.06x | 0.04x | 0.10x | 0.23x | 0.49x | 0.32x | 0.06x |
| Total Current Assets | 61,357 | 32,226 | 24,001 | 59,737 | 85,154 | 91,223 | 51,761 |
| Total Current Liabilities | 62,050 | 34,310 | 24,486 | 50,993 | 65,947 | 80,985 | 48,994 |
| Inventory | 11,110 | 12,695 | 8,580 | 13,589 | 17,733 | 45,188 | 21,846 |
| Trade Receivables | 17,177 | 12,945 | 8,286 | 16,409 | 16,380 | 17,333 | 19,483 |
| Trade Payables | 23,327 | 14,578 | 7,069 | 8,275 | 7,457 | 11,006 | 10,426 |
| Net Working Capital | -693 | -2,084 | -485 | 8,744 | 19,207 | 10,238 | 2,767 |
| Net Working Capital % of Revenue | -1.1% | -1.7% | -1.4% | 26.9% | 23.9% | 10.7% | 2.6% |
| Trade Working Capital | 4,960 | 11,062 | 9,797 | 21,723 | 26,656 | 51,515 | 30,903 |
| Trade Working Capital % of Revenue | 7.8% | 9.1% | 27.3% | 66.7% | 33.1% | 53.8% | 29.1% |
| Change in Trade Working Capital | N/A | 6,102 | -1,265 | 11,926 | 4,933 | 24,859 | -20,612 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 2.91x | 6.60x | 0.78x | 0.28x | 0.46x | 0.45x | 1.93x |
| Days Inventory Outstanding (DIO) | 125.6 | 55.3 | 469.5 | 1309.0 | 795.3 | 817.9 | 189.5 |
| Receivables Turnover | 3.69x | 9.42x | 4.34x | 1.98x | 4.91x | 5.53x | 5.45x |
| Days Sales Outstanding (DSO) | 99.0 | 38.7 | 84.2 | 184.0 | 74.3 | 66.0 | 67.0 |
| Payables Turnover | 1.38x | 5.75x | 0.94x | 0.46x | 1.09x | 1.83x | 4.04x |
| Days Payable Outstanding (DPO) | 263.7 | 63.5 | 386.8 | 797.1 | 334.5 | 199.2 | 90.4 |
| Cash Conversion Cycle | -39.1 days | 30.5 days | 166.9 days | 695.9 days | 535.2 days | 684.7 days | 166.1 days |
| Asset Turnover | 0.45x | 0.87x | 0.31x | 0.20x | 0.36x | 0.39x | 0.49x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 21,317 | 15,922 | 20,569 | 10,717 | 19,493 | 40,211 | -17,040 |
| Free Cash Flow (OCF − Capex proxy) | 21,317 | -57 | 14,018 | 16,639 | -12,757 | 33,336 | -24,964 |
| Cash Conversion (OCF / EBITDA) | 160.6% | 111.9% | 1086.0% | N/A | 65.3% | 143.4% | -78.0% |
| Dividends Declared | 6,846 | 4,543 | 9,182 | 9,947 | 6,051 | 18,632 | 9,007 |
| Dividend Payout Ratio | 47.1% | 15.9% | 249.0% | 85.7% | 19.6% | 66.6% | 61.5% |
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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