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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2020 0 · FY2021 0 · FY2022 0
Operates in Healthcare Services — In-patient & out-patient services. Per the activity note to the FY2022 annual report, the company provides in-patient and out-patient healthcare services and professional training in Tbilisi.
Subsidiary of LLC GN Ko (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 35.8% | 31.9% | 36.5% | 66.4% | 63.3% | 68.2% |
| EBITDA Margin | 32.2% | 20.0% | 21.6% | 10.1% | 17.6% | 9.3% |
| EBITDAR | 14,404 | 8,494 | 9,067 | 3,984 | 9,270 | 5,154 |
| EBITDAR Margin | 32.2% | 20.0% | 21.6% | 10.1% | 17.6% | 9.3% |
| EBIT Margin | 21.3% | 8.2% | 8.7% | -0.9% | -35.0% | 2.8% |
| Net Profit Margin | 13.0% | 10.2% | 3.8% | -3.5% | -24.3% | 9.6% |
| Operating Expense % of Sales | 3.6% | 11.9% | 14.9% | 57.6% | 47.5% | 60.7% |
| Returns | ||||||
| Return on Assets (ROA) | 4.8% | 3.7% | 1.3% | -1.1% | -9.8% | 4.0% |
| Return on Equity (ROE) | 6.7% | 4.8% | 1.6% | -1.4% | -16.9% | 6.6% |
| ROIC [EBIT / Invested Capital] | 9.2% | 3.3% | 3.3% | -0.3% | -17.1% | 1.4% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 16.5% | 13.5% | 13.0% | 13.6% | 30.2% | 26.7% |
| Debt-to-Equity | 0.23x | 0.18x | 0.17x | 0.17x | 0.52x | 0.44x |
| Debt-to-EBITDA | 1.40x | 1.88x | 1.78x | 4.28x | 4.23x | 6.89x |
| Equity-to-Assets | 70.7% | 76.0% | 78.3% | 78.2% | 58.1% | 60.7% |
| Net Debt | 17,295 | 13,693 | 14,270 | 14,326 | 32,363 | 30,523 |
| Cash & Equivalents | 2,884 | 2,296 | 1,860 | 2,712 | 6,876 | 4,987 |
| Total Debt | 20,179 | 15,989 | 16,130 | 17,038 | 39,239 | 35,510 |
| Liquidity & working capital | ||||||
| Current Ratio | 1.02x | 0.91x | 2.64x | 2.30x | 1.82x | 1.79x |
| Quick Ratio | 0.79x | 0.73x | 2.26x | 1.94x | 1.44x | 1.43x |
| Cash Ratio | 0.12x | 0.10x | 0.17x | 0.19x | 0.33x | 0.22x |
| Total Current Assets | 24,687 | 20,617 | 28,432 | 32,579 | 38,384 | 40,517 |
| Total Current Liabilities | 24,316 | 22,561 | 10,751 | 14,142 | 21,033 | 22,589 |
| Inventory | 5,549 | 4,159 | 4,119 | 5,091 | 8,183 | 8,206 |
| Trade Receivables | 15,161 | 13,251 | 22,262 | 24,358 | 18,669 | 16,851 |
| Trade Payables | 11,724 | 8,612 | 10,450 | 9,688 | 13,291 | 15,037 |
| Net Working Capital | 371 | -1,944 | 17,681 | 18,437 | 17,351 | 17,928 |
| Net Working Capital % of Revenue | 0.8% | -4.6% | 42.0% | 46.7% | 32.9% | 32.2% |
| Trade Working Capital | 8,986 | 8,798 | 15,931 | 19,761 | 13,561 | 10,020 |
| Trade Working Capital % of Revenue | 20.1% | 20.7% | 37.9% | 50.0% | 25.7% | 18.0% |
| Change in Trade Working Capital | N/A | -188 | 7,133 | 3,830 | -6,200 | -3,541 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 5.18x | 6.96x | 6.49x | 2.61x | 2.36x | 2.16x |
| Days Inventory Outstanding (DIO) | 70.4 | 52.5 | 56.3 | 139.8 | 154.4 | 169.1 |
| Receivables Turnover | 2.95x | 3.21x | 1.89x | 1.62x | 2.82x | 3.30x |
| Days Sales Outstanding (DSO) | 123.6 | 113.9 | 193.2 | 225.1 | 129.3 | 110.5 |
| Payables Turnover | 2.45x | 3.36x | 2.56x | 1.37x | 1.46x | 1.18x |
| Days Payable Outstanding (DPO) | 148.8 | 108.6 | 142.8 | 266.1 | 250.8 | 309.8 |
| Cash Conversion Cycle | 45.2 days | 57.7 days | 106.6 days | 98.9 days | 33.0 days | -30.2 days |
| Asset Turnover | 0.37x | 0.36x | 0.34x | 0.31x | 0.41x | 0.42x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 8,671 | 7,810 | 3,982 | 4,209 | -338 | 6,708 |
| Free Cash Flow (OCF − Capex proxy) | 8,671 | 4,646 | 1,774 | 2,224 | -7,856 | 2,075 |
| Cash Conversion (OCF / EBITDA) | 60.2% | 91.9% | 43.9% | 105.6% | -3.6% | 130.2% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 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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