Shara-Gzamsheni Pirveli (შპს შარა-გზამშენი პირველი)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	31.1%	46.8%	64.5%	50.4%	54.2%	59.4%	59.0%
EBITDA Margin	15.5%	7.6%	14.1%	1.9%	12.5%	6.3%	20.5%
EBITDAR	1,566	1,427	2,346	336	1,710	1,045	4,962
EBITDAR Margin	15.6%	11.1%	19.9%	3.2%	14.5%	8.1%	29.2%
EBIT Margin	13.0%	5.3%	11.3%	-5.7%	7.5%	1.4%	14.9%
Net Profit Margin	12.0%	4.7%	10.8%	1.9%	5.5%	-1.2%	12.2%
Operating Expense % of Sales	15.6%	39.3%	50.3%	48.5%	41.7%	53.1%	38.5%
Returns
Return on Assets (ROA)	19.5%	9.1%	19.2%	2.8%	9.4%	-2.1%	21.4%
Return on Equity (ROE)	31.2%	16.0%	30.1%	4.7%	20.3%	-9.2%	55.0%
ROIC [EBIT / Invested Capital]	27.7%	16.4%	26.5%	-11.3%	18.2%	3.4%	37.5%
Leverage & debt balances
Debt-to-Assets	13.5%	9.3%	12.5%	13.7%	26.7%	46.4%	33.2%
Debt-to-Equity	0.22x	0.16x	0.20x	0.23x	0.58x	2.05x	0.85x
Debt-to-EBITDA	0.54x	0.63x	0.50x	4.88x	1.24x	4.37x	0.92x
Equity-to-Assets	62.4%	56.7%	63.8%	59.8%	46.2%	22.6%	38.8%
Net Debt	828	400	802	990	1,699	3,526	2,983
Cash & Equivalents	9	211	26	1	128	8	240
Total Debt	837	611	828	991	1,827	3,534	3,223
Liquidity & working capital
Current Ratio	0.50x	0.75x	0.72x	3.94x	15.28x	0.04x	0.73x
Quick Ratio	0.50x	0.55x	0.60x	3.94x	15.28x	0.04x	0.73x
Cash Ratio	0.00x	0.07x	0.01x	0.00x	6.31x	0.01x	0.34x
Total Current Assets	1,169	2,119	1,738	979	311	32	512
Total Current Liabilities	2,323	2,842	2,420	249	20	908	700
Inventory	N/A	547	277	N/A	N/A	N/A	N/A
Trade Receivables	2,158	1,401	1,419	1,195	1,840	713	1,902
Trade Payables	1,230	2,034	1,015	1,557	1,587	1,056	1,408
Net Working Capital	-1,154	-723	-682	730	290	-876	-188
Net Working Capital % of Revenue	-11.5%	-5.6%	-5.8%	6.9%	2.5%	-6.8%	-1.1%
Trade Working Capital	928	-86	682	-362	253	-343	493
Trade Working Capital % of Revenue	9.3%	-0.7%	5.8%	-3.4%	2.2%	-2.7%	2.9%
Change in Trade Working Capital	N/A	-1,014	768	-1,044	615	-597	837
Turnover & efficiency
Inventory Turnover	N/A	12.44x	15.12x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	29.3	24.1	N/A	N/A	N/A	N/A
Receivables Turnover	4.64x	9.14x	8.32x	8.82x	6.40x	18.08x	8.95x
Days Sales Outstanding (DSO)	78.6	39.9	43.9	41.4	57.1	20.2	40.8
Payables Turnover	5.61x	3.35x	4.13x	3.36x	3.40x	4.95x	4.95x
Days Payable Outstanding (DPO)	65.1	109.0	88.3	108.7	107.4	73.7	73.7
Cash Conversion Cycle	13.6 days	-39.8 days	-20.3 days	-67.3 days	-50.4 days	-53.5 days	-32.9 days
Asset Turnover	1.62x	1.95x	1.78x	1.46x	1.72x	1.69x	1.75x
Cash flow & dividends
Operating Cash Flow	526	8,071	13,188	11,029	11,771	12,879	19,656
Free Cash Flow (OCF − Capex proxy)	141	209	-185	-25	127	-120	231
Cash Conversion (OCF / EBITDA)	33.9%	833.1%	789.7%	5427.0%	800.8%	1592.6%	564.0%
Dividends Declared	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

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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