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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Established in 1995, IBSU is one of Georgia's leading private universities and the first English-language higher-education institution in the country, with around 50 accredited bachelor's, master's, and doctoral programs.
Subsidiary of Georgian National University SEU (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 99.4% | 99.3% | 100.0% | 100.0% | 99.3% | 98.7% | 72.3% | 68.4% |
| EBITDA Margin | 1.7% | -3.2% | 2.3% | 13.9% | 13.2% | 6.2% | 15.8% | 5.1% |
| EBITDAR | 124 | -203 | 121 | 791 | 826 | 442 | 1,420 | 558 |
| EBITDAR Margin | 1.7% | -3.2% | 2.3% | 13.9% | 13.2% | 6.2% | 15.8% | 5.1% |
| EBIT Margin | 1.7% | -3.2% | -2.2% | -8.3% | 0.6% | -5.3% | 3.3% | -7.5% |
| Net Profit Margin | 5.9% | -2.2% | 2.0% | -9.9% | -0.6% | -8.3% | 1.4% | -8.9% |
| Operating Expense % of Sales | 97.7% | 102.5% | 97.7% | 86.1% | 86.1% | 92.5% | 56.5% | 63.4% |
| Returns | ||||||||
| Return on Assets (ROA) | 2.7% | -0.9% | 0.7% | -2.2% | -0.2% | -2.5% | 0.5% | -4.1% |
| Return on Equity (ROE) | 2.9% | -1.0% | 0.7% | -2.3% | -0.2% | -2.6% | 0.6% | -4.5% |
| ROIC [EBIT / Invested Capital] | 0.9% | -1.4% | -0.7% | -1.9% | 0.2% | -1.6% | 1.4% | -3.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 3.5% | 4.2% | 1.3% | 0.6% | 1.4% | 0.0% | 5.8% |
| Debt-to-Equity | 0.00x | 0.04x | 0.05x | 0.01x | 0.01x | 0.02x | 0.00x | 0.07x |
| Debt-to-EBITDA | 0.00x | N/A | 5.68x | 0.42x | 0.19x | 0.79x | 0.00x | 2.52x |
| Equity-to-Assets | 95.1% | 91.5% | 93.0% | 96.6% | 97.1% | 95.0% | 96.4% | 89.7% |
| Net Debt | -151 | 352 | 565 | -421 | -587 | -134 | -1,025 | 1,143 |
| Cash & Equivalents | 151 | 204 | 125 | 757 | 742 | 483 | 1,025 | 264 |
| Total Debt | N/A | 556 | 690 | 336 | 155 | 349 | N/A | 1,407 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.80x | 1.52x | 2.22x | 3.61x | 4.53x | 2.17x | 2.11x | 0.56x |
| Quick Ratio | 1.70x | 1.47x | 2.14x | 3.47x | 4.38x | 2.04x | 2.02x | 0.49x |
| Cash Ratio | 0.20x | 0.15x | 0.15x | 1.21x | 1.34x | 0.46x | 1.22x | 0.12x |
| Total Current Assets | 1,340 | 2,032 | 1,865 | 2,247 | 2,508 | 2,274 | 1,774 | 1,230 |
| Total Current Liabilities | 745 | 1,341 | 840 | 623 | 554 | 1,049 | 841 | 2,209 |
| Inventory | 77 | 62 | 71 | 87 | 81 | 134 | 76 | 155 |
| Trade Receivables | 1,106 | 871 | 944 | 987 | 872 | 844 | 571 | 710 |
| Trade Payables | 745 | 769 | 427 | 507 | 532 | 490 | 500 | 717 |
| Net Working Capital | 595 | 691 | 1,025 | 1,624 | 1,954 | 1,225 | 933 | -979 |
| Net Working Capital % of Revenue | 8.3% | 10.8% | 19.0% | 28.6% | 31.1% | 17.2% | 10.4% | -8.9% |
| Trade Working Capital | 439 | 164 | 588 | 567 | 421 | 489 | 147 | 148 |
| Trade Working Capital % of Revenue | 6.1% | 2.6% | 10.9% | 10.0% | 6.7% | 6.8% | 1.6% | 1.3% |
| Change in Trade Working Capital | N/A | -274 | 423 | -21 | -146 | 68 | -342 | 1 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.57x | 0.74x | N/A | N/A | 0.54x | 0.69x | 32.99x | 22.43x |
| Days Inventory Outstanding (DIO) | 635.2 | 496.2 | N/A | N/A | 681.2 | 528.0 | 11.1 | 16.3 |
| Receivables Turnover | 6.48x | 7.36x | 5.71x | 5.75x | 7.20x | 8.46x | 15.76x | 15.49x |
| Days Sales Outstanding (DSO) | 56.3 | 49.6 | 64.0 | 63.4 | 50.7 | 43.1 | 23.2 | 23.6 |
| Payables Turnover | 0.06x | 0.06x | N/A | N/A | 0.08x | 0.19x | 5.00x | 4.84x |
| Days Payable Outstanding (DPO) | 6151.3 | 6126.0 | N/A | N/A | 4458.8 | 1928.0 | 73.1 | 75.4 |
| Cash Conversion Cycle | -5459.8 days | -5580.3 days | 64.0 days | 63.4 days | -3726.9 days | -1356.9 days | -38.8 days | -35.6 days |
| Asset Turnover | 0.47x | 0.41x | 0.33x | 0.22x | 0.26x | 0.30x | 0.38x | 0.46x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -138 | -625 | 132 | 954 | 473 | 790 | 1,716 | 459 |
| Free Cash Flow (OCF − Capex proxy) | -138 | -628 | 88 | 916 | 266 | 65 | 1,398 | -2,161 |
| Cash Conversion (OCF / EBITDA) | -110.9% | N/A | 108.4% | 120.6% | 57.3% | 178.6% | 120.8% | 82.3% |
| Dividends Declared | 60 | 54 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 14.2% | N/A | 0.0% | N/A | N/A | 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.
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