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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2019 4,499 · FY2020 6,361 · FY2021 333 — 3-yr total 11,193
Georgian fuel retailer/distributor operating Sun Petroleum-branded service stations.
Subsidiary of Shezghuduli Pasukhismgeblobissazogadoeba Energy Investment Venture (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 15.1% | 12.5% | 12.5% | 13.7% | 11.1% |
| EBITDA Margin | 9.9% | 3.6% | 5.6% | 4.7% | 3.9% |
| EBITDAR | 41,292 | 23,171 | 33,423 | 25,764 | 30,679 |
| EBITDAR Margin | 11.7% | 5.2% | 6.2% | 5.4% | 4.3% |
| EBIT Margin | 8.1% | 2.3% | 3.8% | 2.4% | 2.1% |
| Net Profit Margin | 3.0% | 2.0% | 2.9% | 0.4% | 2.7% |
| Operating Expense % of Sales | 5.1% | 8.8% | 6.9% | 9.1% | 7.2% |
| Returns | |||||
| Return on Assets (ROA) | 6.4% | 5.2% | 6.7% | 0.8% | 7.3% |
| Return on Equity (ROE) | 18.9% | 13.4% | 20.3% | 2.6% | 26.6% |
| ROIC [EBIT / Invested Capital] | 28.7% | 8.6% | 14.2% | 7.6% | 9.0% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 27.7% | 33.3% | 39.3% | 38.4% | 47.5% |
| Debt-to-Equity | 0.82x | 0.86x | 1.19x | 1.23x | 1.74x |
| Debt-to-EBITDA | 1.32x | 3.47x | 3.05x | 3.92x | 4.59x |
| Equity-to-Assets | 33.9% | 38.6% | 33.0% | 31.3% | 27.2% |
| Net Debt | 43,510 | 51,764 | 65,345 | 80,448 | 92,565 |
| Cash & Equivalents | 3,062 | 4,574 | 25,638 | 7,524 | 32,538 |
| Total Debt | 46,572 | 56,338 | 90,983 | 87,972 | 125,103 |
| Liquidity & working capital | |||||
| Current Ratio | 0.62x | 1.16x | 1.14x | 1.11x | 0.78x |
| Quick Ratio | 0.19x | 0.68x | 0.76x | 0.70x | 0.39x |
| Cash Ratio | 0.04x | 0.06x | 0.22x | 0.07x | 0.21x |
| Total Current Assets | 53,529 | 91,589 | 134,227 | 128,480 | 118,260 |
| Total Current Liabilities | 86,008 | 78,673 | 117,638 | 115,380 | 152,174 |
| Inventory | 37,471 | 38,028 | 44,293 | 47,453 | 59,554 |
| Trade Receivables | 10,138 | 3,179 | 10,917 | 10,317 | 20,910 |
| Trade Payables | 42,607 | 36,044 | 55,769 | 48,367 | 50,151 |
| Net Working Capital | -32,479 | 12,916 | 16,589 | 13,100 | -33,914 |
| Net Working Capital % of Revenue | -9.2% | 2.9% | 3.1% | 2.7% | -4.8% |
| Trade Working Capital | 5,002 | 5,163 | -559 | 9,403 | 30,313 |
| Trade Working Capital % of Revenue | 1.4% | 1.2% | -0.1% | 2.0% | 4.3% |
| Change in Trade Working Capital | N/A | 161 | -5,722 | 9,962 | 20,910 |
| Turnover & efficiency | |||||
| Inventory Turnover | 8.03x | 10.24x | 10.57x | 8.75x | 10.54x |
| Days Inventory Outstanding (DIO) | 45.4 | 35.7 | 34.5 | 41.7 | 34.6 |
| Receivables Turnover | 34.96x | 139.90x | 49.04x | 46.67x | 33.77x |
| Days Sales Outstanding (DSO) | 10.4 | 2.6 | 7.4 | 7.8 | 10.8 |
| Payables Turnover | 7.07x | 10.80x | 8.40x | 8.59x | 12.52x |
| Days Payable Outstanding (DPO) | 51.7 | 33.8 | 43.5 | 42.5 | 29.2 |
| Cash Conversion Cycle | 4.2 days | 4.5 days | -1.5 days | 7.0 days | 16.3 days |
| Asset Turnover | 2.11x | 2.63x | 2.31x | 2.10x | 2.68x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 13,189 | 3,578 | 25,807 | 14,728 | -2,195 |
| Free Cash Flow (OCF − Capex proxy) | 13,189 | -5,979 | 18,781 | 8,873 | -10,854 |
| Cash Conversion (OCF / EBITDA) | 37.4% | 22.1% | 86.4% | 65.7% | -8.0% |
| Dividends Declared | 272 | 254 | 4,499 | 6,361 | 333 |
| Dividend Payout Ratio | 2.5% | 2.9% | 29.1% | 337.6% | 1.7% |
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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Ownership & directors from companyinfo.ge (public corporate registry).
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