Gorgia (შპს გორგია)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2017	2018	2019	2020	2021	2022	2023
Margins
Gross Margin	27.6%	25.4%	25.5%	29.5%	30.5%	30.6%	29.5%
EBITDA Margin	17.7%	6.3%	10.5%	13.2%	14.7%	13.8%	10.4%
EBITDAR	27,066	15,133	20,172	22,860	35,274	39,023	38,412
EBITDAR Margin	20.5%	9.2%	10.6%	13.3%	15.1%	14.4%	12.0%
EBIT Margin	16.7%	5.3%	6.8%	8.3%	9.8%	9.1%	6.8%
Net Profit Margin	6.4%	6.6%	3.4%	2.3%	8.4%	8.0%	6.1%
Operating Expense % of Sales	9.9%	19.1%	15.0%	16.4%	15.8%	16.8%	19.0%
Returns
Return on Assets (ROA)	8.9%	10.6%	5.1%	2.8%	11.0%	11.4%	9.3%
Return on Equity (ROE)	46.0%	39.2%	29.1%	17.7%	57.5%	43.7%	28.8%
ROIC [EBIT / Invested Capital]	48.1%	15.6%	16.5%	17.8%	21.4%	20.8%	18.8%
Leverage & debt balances
Debt-to-Assets	29.5%	30.8%	47.3%	50.5%	46.7%	39.7%	31.7%
Debt-to-Equity	1.53x	1.14x	2.71x	3.22x	2.44x	1.52x	0.98x
Debt-to-EBITDA	1.21x	3.08x	3.06x	3.13x	2.43x	2.02x	2.00x
Equity-to-Assets	19.3%	26.9%	17.5%	15.7%	19.2%	26.2%	32.3%
Net Debt	27,211	28,171	55,856	58,216	72,479	68,776	47,405
Cash & Equivalents	1,003	3,514	5,134	12,528	11,112	6,960	19,525
Total Debt	28,215	31,684	60,991	70,744	83,591	75,736	66,930
Liquidity & working capital
Current Ratio	0.91x	1.03x	0.86x	1.01x	1.06x	1.14x	1.36x
Quick Ratio	0.29x	0.33x	0.33x	0.50x	0.49x	0.55x	0.62x
Cash Ratio	0.01x	0.05x	0.06x	0.12x	0.09x	0.06x	0.17x
Total Current Assets	68,222	73,136	76,510	104,980	123,912	140,078	153,355
Total Current Liabilities	74,871	71,099	88,533	103,851	117,312	122,799	113,176
Inventory	46,700	49,350	47,658	53,072	66,379	72,733	83,348
Trade Receivables	18,427	15,091	19,388	20,247	28,223	32,871	38,444
Trade Payables	47,466	42,796	45,355	47,305	60,633	64,969	75,959
Net Working Capital	-6,649	2,037	-12,023	1,129	6,599	17,279	40,178
Net Working Capital % of Revenue	-5.0%	1.2%	-6.3%	0.7%	2.8%	6.4%	12.5%
Trade Working Capital	17,661	21,645	21,691	26,014	33,968	40,635	45,833
Trade Working Capital % of Revenue	13.4%	13.2%	11.4%	15.1%	14.5%	15.0%	14.3%
Change in Trade Working Capital	N/A	3,984	46	4,323	7,955	6,666	5,198
Turnover & efficiency
Inventory Turnover	2.04x	2.49x	2.98x	2.28x	2.45x	2.59x	2.72x
Days Inventory Outstanding (DIO)	178.6	146.8	122.5	159.9	149.3	140.8	134.4
Receivables Turnover	7.15x	10.90x	9.84x	8.49x	8.28x	8.27x	8.34x
Days Sales Outstanding (DSO)	51.0	33.5	37.1	43.0	44.1	44.1	43.7
Payables Turnover	2.01x	2.87x	3.13x	2.56x	2.68x	2.90x	2.98x
Days Payable Outstanding (DPO)	181.6	127.3	116.5	142.5	136.4	125.7	122.5
Cash Conversion Cycle	48.1 days	53.0 days	43.0 days	60.4 days	57.0 days	59.2 days	55.7 days
Asset Turnover	1.38x	1.60x	1.48x	1.23x	1.31x	1.43x	1.52x
Cash flow & dividends
Operating Cash Flow	-1,481	7,420	15,142	9,656	19,349	24,052	34,631
Free Cash Flow (OCF − Capex proxy)	-1,481	624	9,417	8,457	7,975	18,955	32,480
Cash Conversion (OCF / EBITDA)	-6.3%	72.1%	75.8%	42.7%	56.2%	64.3%	103.7%
Dividends Declared	4,230	1,748	11,820	4,727	11,750	1,855	773
Dividend Payout Ratio	49.9%	16.1%	180.3%	121.6%	59.6%	8.5%	3.9%

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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