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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 Construction — Residential & Commercial Building. Per the activity note to the FY2022 annual report, the company constructs and sells residential apartments, and performs repair and construction work.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 46.6% | -85.5% | 50.6% | -14.1% | 11.5% | -38.8% |
| EBITDA Margin | 45.5% | -123.3% | 46.7% | -21.8% | 5.4% | -140.5% |
| EBITDAR | 6,667 | -1,605 | 4,758 | -4,603 | 673 | -15,386 |
| EBITDAR Margin | 45.5% | -123.3% | 46.7% | -21.8% | 5.4% | -140.5% |
| EBIT Margin | 45.0% | -129.0% | 45.5% | -22.3% | 4.7% | -140.6% |
| Net Profit Margin | 37.3% | -169.2% | 42.9% | -22.0% | 5.5% | -142.7% |
| Operating Expense % of Sales | 1.1% | 37.8% | 4.0% | 7.8% | 6.0% | 101.6% |
| Returns | ||||||
| Return on Assets (ROA) | 35.1% | -8.3% | 11.8% | -31.0% | 3.8% | -726.5% |
| Return on Equity (ROE) | 105.3% | -165.1% | 76.6% | -440.1% | 39.1% | N/A |
| ROIC [EBIT / Invested Capital] | 123.9% | -182.9% | 52.5% | -88.5% | 19.5% | N/A |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 16.7% | 30.0% | 38.9% | 28.7% | 14.1% | 86.7% |
| Debt-to-Equity | 0.50x | 6.00x | 2.52x | 4.08x | 1.44x | -0.13x |
| Debt-to-EBITDA | 0.39x | N/A | 3.02x | N/A | 3.70x | N/A |
| Equity-to-Assets | 33.4% | 5.0% | 15.4% | 7.0% | 9.8% | -645.9% |
| Net Debt | 122 | -416 | 3,134 | 4,251 | 1,226 | 1,153 |
| Cash & Equivalents | 2,473 | 8,413 | 11,252 | 59 | 1,264 | 713 |
| Total Debt | 2,595 | 7,997 | 14,386 | 4,309 | 2,490 | 1,866 |
| Liquidity & working capital | ||||||
| Current Ratio | 2.64x | 1.50x | 2.09x | 1.39x | 1.22x | 0.13x |
| Quick Ratio | 0.64x | 0.60x | 0.87x | 0.97x | 0.47x | 0.06x |
| Cash Ratio | 0.46x | 0.49x | 0.67x | 0.01x | 0.09x | 0.04x |
| Total Current Assets | 14,050 | 25,838 | 35,141 | 13,401 | 16,335 | 2,116 |
| Total Current Liabilities | 5,320 | 17,282 | 16,849 | 9,629 | 13,431 | 16,049 |
| Inventory | 10,651 | 15,546 | 20,454 | 4,058 | 10,031 | 1,216 |
| Trade Receivables | 892 | 1,164 | 2,549 | 8,362 | 4,163 | 166 |
| Trade Payables | 2,725 | 3,553 | 2,820 | 7,097 | 11,256 | 12,521 |
| Net Working Capital | 8,730 | 8,556 | 18,292 | 3,773 | 2,904 | -13,933 |
| Net Working Capital % of Revenue | 59.6% | 657.4% | 179.5% | 17.9% | 23.5% | -127.2% |
| Trade Working Capital | 8,818 | 13,157 | 20,182 | 5,323 | 2,938 | -11,139 |
| Trade Working Capital % of Revenue | 60.2% | 1010.9% | 198.0% | 25.2% | 23.7% | -101.7% |
| Change in Trade Working Capital | N/A | 4,339 | 7,025 | -14,859 | -2,385 | -14,077 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 0.73x | 0.16x | 0.25x | 5.93x | 1.09x | 12.51x |
| Days Inventory Outstanding (DIO) | 496.9 | 2350.2 | 1484.0 | 61.6 | 334.1 | 29.2 |
| Receivables Turnover | 16.43x | 1.12x | 4.00x | 2.52x | 2.97x | 65.81x |
| Days Sales Outstanding (DSO) | 22.2 | 326.4 | 91.3 | 144.7 | 122.8 | 5.5 |
| Payables Turnover | 2.87x | 0.68x | 1.78x | 3.39x | 0.97x | 1.21x |
| Days Payable Outstanding (DPO) | 127.1 | 537.1 | 204.6 | 107.6 | 374.9 | 300.5 |
| Cash Conversion Cycle | 392.0 days | 2139.5 days | 1370.7 days | 98.6 days | 82.0 days | -265.8 days |
| Asset Turnover | 0.94x | 0.05x | 0.28x | 1.41x | 0.70x | 5.09x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 2,185 | 1,985 | -2,412 | -1,238 | 2,848 | 6,861 |
| Free Cash Flow (OCF − Capex proxy) | 2,185 | 2,149 | -3,555 | -1,127 | 3,025 | 84 |
| Cash Conversion (OCF / EBITDA) | 32.8% | N/A | -50.7% | N/A | 423.5% | N/A |
| Dividends Declared | 0 | 300 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | N/A | 0.0% | N/A | 0.0% | 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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