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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 38.6% | 35.5% | 28.2% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 10.6% | 16.4% | 5.7% | 10.9% | 40.4% | 63.2% |
| EBITDAR | 760 | 212 | 166 | 33 | 145 | 148 |
| EBITDAR Margin | 11.9% | 17.3% | 5.7% | 10.9% | 40.4% | 63.2% |
| EBIT Margin | 8.9% | 7.2% | 1.8% | 10.9% | 27.4% | 43.2% |
| Net Profit Margin | 42.2% | -16.8% | 10.9% | 10.9% | 27.4% | 43.2% |
| Operating Expense % of Sales | 28.0% | 19.2% | 22.5% | 89.1% | 59.6% | 36.8% |
| Returns | ||||||
| Return on Assets (ROA) | 32.5% | -3.5% | 6.0% | 0.7% | 2.0% | 2.0% |
| Return on Equity (ROE) | 66.1% | -5.3% | 7.5% | 0.8% | 2.3% | 2.3% |
| ROIC [EBIT / Invested Capital] | 8.4% | 1.7% | 1.7% | 0.9% | 2.3% | 2.3% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 41.3% | 21.6% | 4.6% | 4.9% | 0.9% | 1.4% |
| Debt-to-Equity | 0.84x | 0.33x | 0.06x | 0.06x | 0.01x | 0.02x |
| Debt-to-EBITDA | 5.08x | 6.31x | 1.45x | 7.46x | 0.29x | 0.48x |
| Equity-to-Assets | 49.1% | 65.8% | 80.5% | 82.2% | 88.6% | 88.6% |
| Net Debt | 2,656 | 1,224 | -986 | -263 | 10 | 60 |
| Cash & Equivalents | 779 | 46 | 1,225 | 513 | 32 | 11 |
| Total Debt | 3,435 | 1,270 | 239 | 250 | 42 | 71 |
| Liquidity & working capital | ||||||
| Current Ratio | 1.51x | 1.90x | 3.19x | 3.61x | 7.39x | 6.74x |
| Quick Ratio | 1.51x | 0.47x | 1.63x | 1.86x | 7.39x | 6.74x |
| Cash Ratio | 0.18x | 0.02x | 1.21x | 0.56x | 0.06x | 0.02x |
| Total Current Assets | 6,418 | 3,820 | 3,239 | 3,277 | 4,070 | 3,819 |
| Total Current Liabilities | 4,237 | 2,012 | 1,015 | 909 | 551 | 567 |
| Inventory | N/A | 2,865 | 1,582 | 1,586 | N/A | N/A |
| Trade Receivables | 2,004 | 909 | 433 | 287 | 249 | 417 |
| Trade Payables | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Working Capital | 2,181 | 1,808 | 2,225 | 2,369 | 3,519 | 3,252 |
| Net Working Capital % of Revenue | 34.1% | 147.1% | 76.9% | 773.5% | 982.6% | 1390.2% |
| Trade Working Capital | 2,004 | 3,774 | 2,014 | 1,873 | 249 | 417 |
| Trade Working Capital % of Revenue | 31.3% | 307.1% | 69.6% | 611.5% | 69.4% | 178.2% |
| Change in Trade Working Capital | N/A | 1,770 | -1,760 | -142 | -1,624 | 168 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 0.28x | 1.31x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 1320.1 | 277.9 | N/A | N/A | N/A |
| Receivables Turnover | 3.19x | 1.35x | 6.69x | 1.07x | 1.44x | 0.56x |
| Days Sales Outstanding (DSO) | 114.4 | 270.1 | 54.6 | 341.5 | 253.3 | 650.6 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 114.4 days | 1590.2 days | 332.5 days | 341.5 days | 253.3 days | 650.6 days |
| Asset Turnover | 0.77x | 0.21x | 0.56x | 0.06x | 0.07x | 0.05x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 4,091 | 1,931 | 2,312 | 807 | 340 | 33 |
| Free Cash Flow (OCF − Capex proxy) | 4,091 | 1,719 | 2,298 | 398 | 229 | -21 |
| Cash Conversion (OCF / EBITDA) | 604.9% | 960.2% | 1395.3% | 2409.0% | 234.9% | 22.4% |
| Dividends Declared | 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 |
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.
Group parent — controls 1 company · ownership
Ownership & directors from companyinfo.ge (public corporate registry).