Bago+ (შპს ბაგო+) — Georgia Financials

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	14.9%	20.6%	25.6%	15.6%	17.8%	16.5%	18.2%
EBITDA Margin	10.3%	16.3%	15.0%	5.6%	12.9%	11.7%	11.4%
EBITDAR	558	1,092	976	321	955	896	812
EBITDAR Margin	10.3%	16.3%	15.0%	5.6%	12.9%	11.7%	11.4%
EBIT Margin	7.3%	13.7%	10.7%	1.6%	9.6%	8.8%	8.6%
Net Profit Margin	5.9%	13.0%	13.3%	5.4%	8.7%	7.3%	7.4%
Operating Expense % of Sales	4.6%	4.3%	10.5%	10.1%	4.9%	4.8%	6.8%
Returns
Return on Assets (ROA)	8.9%	16.7%	15.5%	5.8%	11.9%	10.7%	10.7%
Return on Equity (ROE)	14.3%	30.6%	25.6%	9.2%	18.3%	15.4%	14.0%
ROIC [EBIT / Invested Capital]	15.1%	27.1%	16.2%	2.3%	17.3%	17.4%	15.8%
Leverage & debt balances
Debt-to-Assets	13.3%	15.6%	16.5%	13.8%	12.9%	9.9%	6.6%
Debt-to-Equity	0.21x	0.29x	0.27x	0.22x	0.20x	0.14x	0.09x
Debt-to-EBITDA	0.86x	0.75x	0.95x	2.32x	0.73x	0.58x	0.40x
Equity-to-Assets	61.9%	54.7%	60.6%	62.5%	64.8%	69.4%	76.7%
Net Debt	376	542	900	708	626	258	120
Cash & Equivalents	102	273	24	37	71	258	205
Total Debt	478	814	923	745	697	516	324
Liquidity & working capital
Current Ratio	0.08x	0.12x	0.01x	0.02x	0.04x	0.17x	0.19x
Quick Ratio	0.08x	0.07x	-0.06x	-0.08x	0.04x	0.17x	0.19x
Cash Ratio	0.08x	0.12x	0.01x	0.02x	0.04x	0.17x	0.19x
Total Current Assets	102	273	24	37	71	258	205
Total Current Liabilities	1,344	2,309	2,148	1,952	1,813	1,510	1,065
Inventory	N/A	103	149	195	N/A	N/A	N/A
Trade Receivables	1,973	2,855	3,246	3,231	3,404	2,968	2,610
Trade Payables	866	1,495	1,219	1,205	1,117	994	740
Net Working Capital	-1,241	-2,036	-2,125	-1,915	-1,742	-1,253	-860
Net Working Capital % of Revenue	-23.0%	-30.3%	-32.7%	-33.3%	-23.6%	-16.4%	-12.1%
Trade Working Capital	1,108	1,463	2,176	2,221	2,287	1,973	1,869
Trade Working Capital % of Revenue	20.5%	21.8%	33.5%	38.6%	31.0%	25.8%	26.2%
Change in Trade Working Capital	N/A	355	714	45	66	-313	-104
Turnover & efficiency
Inventory Turnover	N/A	51.93x	32.38x	24.92x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	7.0	11.3	14.6	N/A	N/A	N/A
Receivables Turnover	2.73x	2.35x	2.00x	1.78x	2.17x	2.58x	2.73x
Days Sales Outstanding (DSO)	133.5	155.1	182.3	205.0	168.3	141.5	133.7
Payables Turnover	5.30x	3.57x	3.97x	4.03x	5.43x	6.43x	7.88x
Days Payable Outstanding (DPO)	68.8	102.3	92.0	90.6	67.2	56.8	46.3
Cash Conversion Cycle	64.7 days	59.9 days	101.6 days	129.0 days	101.1 days	84.7 days	87.3 days
Asset Turnover	1.50x	1.29x	1.16x	1.06x	1.37x	1.47x	1.45x
Cash flow & dividends
Operating Cash Flow	-44	171	-249	14	34	187	-53
Free Cash Flow (OCF − Capex proxy)	-44	171	-249	14	34	187	-53
Cash Conversion (OCF / EBITDA)	-7.9%	15.6%	-25.6%	4.2%	3.5%	20.8%	-6.5%
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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