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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 51.6% | 60.5% | 56.2% | 59.7% | 48.3% | 45.1% | 58.4% | 46.5% |
| EBITDA Margin | 2.0% | 5.0% | 0.3% | 3.0% | 3.4% | -10.3% | 2.3% | 2.0% |
| EBITDAR | 120 | 248 | 13 | 124 | 210 | -547 | 173 | 127 |
| EBITDAR Margin | 2.0% | 5.0% | 0.3% | 3.0% | 3.4% | -10.3% | 2.3% | 2.0% |
| EBIT Margin | 0.8% | 2.0% | -4.6% | -0.8% | 0.8% | -13.3% | 0.6% | 0.6% |
| Net Profit Margin | 1.8% | 1.4% | -5.5% | 2.5% | 2.2% | -17.2% | 1.5% | 1.5% |
| Operating Expense % of Sales | 49.5% | 55.6% | 55.9% | 56.7% | 44.9% | 55.4% | 56.1% | 44.5% |
| Returns | ||||||||
| Return on Assets (ROA) | 3.5% | 1.0% | -3.3% | 1.3% | 1.7% | -11.5% | 1.5% | 1.4% |
| Return on Equity (ROE) | 5.3% | 1.2% | -3.9% | 1.8% | 2.4% | -20.4% | 2.5% | 2.3% |
| ROIC [EBIT / Invested Capital] | 1.9% | 1.7% | -3.1% | -0.5% | 0.8% | -10.9% | 0.7% | 0.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 18.9% | 1.4% | 6.3% | 7.2% | 10.7% | 25.0% | 25.8% | 32.5% |
| Debt-to-Equity | 0.28x | 0.02x | 0.07x | 0.10x | 0.15x | 0.44x | 0.41x | 0.55x |
| Debt-to-EBITDA | 4.71x | 0.39x | 32.21x | 4.50x | 4.07x | N/A | 10.94x | 17.70x |
| Equity-to-Assets | 66.4% | 85.6% | 85.5% | 73.5% | 70.0% | 56.6% | 62.3% | 59.6% |
| Net Debt | 559 | 70 | 278 | 500 | 854 | 1,963 | 1,893 | 2,257 |
| Cash & Equivalents | 6 | 27 | 135 | 56 | 2 | 6 | 5 | 0 |
| Total Debt | 565 | 96 | 413 | 556 | 856 | 1,969 | 1,898 | 2,257 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.31x | 0.49x | 0.36x | 0.60x | 0.88x | 0.86x | 0.86x | 0.79x |
| Quick Ratio | 0.31x | 0.49x | 0.00x | 0.00x | 0.88x | 0.86x | 0.86x | 0.79x |
| Cash Ratio | 0.01x | 0.03x | 0.14x | 0.03x | 0.00x | 0.00x | 0.00x | 0.00x |
| Total Current Assets | 297 | 483 | 339 | 1,234 | 2,111 | 2,642 | 2,183 | 2,113 |
| Total Current Liabilities | 947 | 992 | 954 | 2,063 | 2,394 | 3,089 | 2,543 | 2,690 |
| Inventory | N/A | N/A | 339 | 1,234 | N/A | N/A | N/A | N/A |
| Trade Receivables | 291 | 387 | 184 | 712 | 97 | 18 | 556 | 732 |
| Trade Payables | 69 | 275 | 96 | 188 | 91 | 220 | 320 | 286 |
| Net Working Capital | -651 | -509 | -615 | -828 | -283 | -446 | -360 | -578 |
| Net Working Capital % of Revenue | -11.0% | -10.2% | -15.6% | -20.0% | -4.6% | -8.4% | -4.8% | -8.9% |
| Trade Working Capital | 222 | 112 | 427 | 1,759 | 6 | -201 | 236 | 446 |
| Trade Working Capital % of Revenue | 3.8% | 2.3% | 10.8% | 42.6% | 0.1% | -3.8% | 3.1% | 6.9% |
| Change in Trade Working Capital | N/A | -111 | 315 | 1,331 | -1,752 | -208 | 438 | 210 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | 5.10x | 1.35x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | 71.6 | 270.5 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 20.36x | 12.85x | 21.42x | 5.80x | 63.56x | 287.77x | 13.63x | 8.88x |
| Days Sales Outstanding (DSO) | 17.9 | 28.4 | 17.0 | 62.9 | 5.7 | 1.3 | 26.8 | 41.1 |
| Payables Turnover | 41.75x | 7.13x | 18.05x | 8.86x | 35.20x | 13.22x | 9.87x | 12.16x |
| Days Payable Outstanding (DPO) | 8.7 | 51.2 | 20.2 | 41.2 | 10.4 | 27.6 | 37.0 | 30.0 |
| Cash Conversion Cycle | 9.2 days | -22.8 days | 68.4 days | 292.2 days | -4.6 days | -26.3 days | -10.2 days | 11.1 days |
| Asset Turnover | 1.98x | 0.72x | 0.60x | 0.53x | 0.77x | 0.67x | 1.03x | 0.94x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -3 | 2,451 | 824 | 1,150 | 1,549 | 3,929 | 3,151 | 1,284 |
| Free Cash Flow (OCF − Capex proxy) | -3 | 2,451 | 1,053 | 1,203 | 1,601 | 3,820 | 3,118 | 1,238 |
| Cash Conversion (OCF / EBITDA) | -2.7% | 987.6% | 6419.5% | 930.5% | 737.2% | N/A | 1816.5% | 1007.5% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 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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