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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 344 · FY2022 976 · FY2023 1,446 — 3-yr total 2,766
Georgian distribution company; specific brand portfolio not publicly clear.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 15.6% | 14.1% | 15.6% | 16.8% | 16.9% | 17.6% | 19.8% |
| EBITDA Margin | 10.8% | 3.2% | 4.7% | 2.9% | 2.1% | 4.4% | 3.8% |
| EBITDAR | 7,705 | 2,755 | 3,874 | 3,166 | 3,207 | 4,792 | 4,697 |
| EBITDAR Margin | 12.2% | 4.5% | 5.8% | 5.2% | 4.3% | 6.1% | 6.1% |
| EBIT Margin | 9.6% | 1.8% | 3.6% | 1.9% | 1.3% | 3.6% | 2.7% |
| Net Profit Margin | 3.8% | 1.1% | 2.8% | 1.1% | 1.2% | 3.3% | 1.9% |
| Operating Expense % of Sales | 4.7% | 10.9% | 10.9% | 13.9% | 14.8% | 14.7% | 17.7% |
| Returns | |||||||
| Return on Assets (ROA) | 22.8% | 7.3% | 18.2% | 4.8% | 6.5% | 16.1% | 7.6% |
| Return on Equity (ROE) | 66.3% | 28.5% | 126.3% | 36.5% | 35.2% | 66.6% | 33.7% |
| ROIC [EBIT / Invested Capital] | 170.6% | 32.0% | 90.5% | 23.9% | 31.3% | 47.0% | 26.1% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 8.4% | 21.4% | 14.6% | 22.8% | 12.8% | 17.1% | 27.6% |
| Debt-to-Equity | 0.25x | 0.84x | 1.02x | 1.72x | 0.69x | 0.70x | 1.22x |
| Debt-to-EBITDA | 0.13x | 1.00x | 0.48x | 1.88x | 1.12x | 0.78x | 1.80x |
| Equity-to-Assets | 34.3% | 25.5% | 14.4% | 13.3% | 18.4% | 24.2% | 22.6% |
| Net Debt | -39 | 1,109 | 1,149 | 3,022 | 667 | 2,144 | 3,709 |
| Cash & Equivalents | 918 | 834 | 345 | 273 | 1,071 | 558 | 1,492 |
| Total Debt | 879 | 1,943 | 1,494 | 3,295 | 1,738 | 2,702 | 5,201 |
| Liquidity & working capital | |||||||
| Current Ratio | 1.22x | 1.07x | 0.95x | 0.98x | 0.94x | 1.01x | 1.01x |
| Quick Ratio | 0.59x | 0.55x | 0.39x | 0.43x | 0.53x | 0.59x | 0.54x |
| Cash Ratio | 0.15x | 0.14x | 0.04x | 0.02x | 0.10x | 0.05x | 0.10x |
| Total Current Assets | 7,254 | 6,537 | 8,273 | 12,226 | 10,403 | 12,072 | 14,733 |
| Total Current Liabilities | 5,934 | 6,129 | 8,735 | 12,535 | 11,080 | 11,999 | 14,602 |
| Inventory | 3,728 | 3,160 | 4,858 | 6,887 | 4,556 | 4,940 | 6,886 |
| Trade Receivables | 2,496 | 2,520 | 2,996 | 3,727 | 4,595 | 6,310 | 6,356 |
| Trade Payables | 5,654 | 4,365 | 7,191 | 8,967 | 9,319 | 9,276 | 9,376 |
| Net Working Capital | 1,319 | 408 | -461 | -308 | -677 | 73 | 131 |
| Net Working Capital % of Revenue | 2.1% | 0.7% | -0.7% | -0.5% | -0.9% | 0.1% | 0.2% |
| Trade Working Capital | 569 | 1,315 | 663 | 1,646 | -168 | 1,973 | 3,865 |
| Trade Working Capital % of Revenue | 0.9% | 2.2% | 1.0% | 2.7% | -0.2% | 2.5% | 5.1% |
| Change in Trade Working Capital | N/A | 745 | -651 | 983 | -1,815 | 2,141 | 1,892 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 14.28x | 16.57x | 11.60x | 7.36x | 13.75x | 13.03x | 8.90x |
| Days Inventory Outstanding (DIO) | 25.6 | 22.0 | 31.5 | 49.6 | 26.5 | 28.0 | 41.0 |
| Receivables Turnover | 25.26x | 24.19x | 22.30x | 16.33x | 16.40x | 12.37x | 12.03x |
| Days Sales Outstanding (DSO) | 14.4 | 15.1 | 16.4 | 22.4 | 22.3 | 29.5 | 30.4 |
| Payables Turnover | 9.41x | 12.00x | 7.84x | 5.65x | 6.72x | 6.94x | 6.54x |
| Days Payable Outstanding (DPO) | 38.8 | 30.4 | 46.6 | 64.6 | 54.3 | 52.6 | 55.8 |
| Cash Conversion Cycle | 1.2 days | 6.7 days | 1.3 days | 7.4 days | -5.5 days | 4.9 days | 15.5 days |
| Asset Turnover | 6.05x | 6.72x | 6.55x | 4.21x | 5.55x | 4.93x | 4.05x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 1,593 | 1,126 | 2,973 | 824 | 2,856 | 704 | 676 |
| Free Cash Flow (OCF − Capex proxy) | 1,593 | 918 | 2,805 | 156 | 1,396 | -667 | -480 |
| Cash Conversion (OCF / EBITDA) | 23.3% | 57.9% | 94.7% | 47.1% | 184.5% | 20.4% | 23.4% |
| Dividends Declared | 624 | 2,020 | 2,699 | 448 | 344 | 976 | 1,446 |
| Dividend Payout Ratio | 26.3% | 307.0% | 145.2% | 64.0% | 39.0% | 38.2% | 100.4% |
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.
Ownership & directors from companyinfo.ge (public corporate registry).
Ranked by how close each latest revenue is to this one — not a curated comp set.