AYARD Engineering Representation in Georgia (აიარდ ენჯინერინგ-ის წარმომადგენლობა საქართველოში)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	-13.0%	32.9%	37.9%	40.7%	29.3%	40.0%	43.2%
EBITDAR	-2,354	4,082	2,027	2,884	3,056	7,178	6,086
EBITDAR Margin	-12.3%	33.7%	39.3%	41.6%	31.6%	40.0%	43.2%
EBIT Margin	-13.0%	32.9%	37.7%	40.5%	28.9%	38.2%	40.3%
Net Profit Margin	-14.7%	32.1%	37.6%	11.8%	26.9%	31.6%	26.5%
Operating Expense % of Sales	112.9%	67.1%	62.1%	59.3%	70.7%	60.0%	56.8%
Returns
Return on Assets (ROA)	-70.1%	56.6%	22.1%	7.8%	41.0%	55.0%	33.4%
Return on Equity (ROE)	-141.7%	66.2%	24.8%	9.5%	78.0%	104.4%	72.8%
ROIC [EBIT / Invested Capital]	-281.4%	68.5%	25.0%	35.7%	66.1%	142.9%	124.9%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	15.0%	8.5%	6.4%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.29x	0.16x	0.14x
Debt-to-EBITDA	N/A	0.00x	0.00x	0.00x	0.34x	0.12x	0.12x
Equity-to-Assets	49.5%	85.5%	89.0%	82.5%	52.6%	52.7%	46.0%
Net Debt	-1,097	-66	-35	-764	884	-628	-578
Cash & Equivalents	1,097	66	35	764	69	1,499	1,297
Total Debt	N/A	N/A	N/A	N/A	953	871	719
Liquidity & working capital
Current Ratio	1.71x	6.83x	9.04x	3.93x	2.21x	2.14x	1.85x
Quick Ratio	1.71x	6.82x	1.99x	3.93x	2.20x	2.13x	1.85x
Cash Ratio	1.28x	0.07x	0.04x	0.42x	0.03x	0.36x	0.24x
Total Current Assets	1,474	6,830	8,755	7,205	5,178	8,961	10,192
Total Current Liabilities	860	1,000	969	1,833	2,345	4,191	5,498
Inventory	N/A	11	6,824	N/A	17	27	34
Trade Receivables	1,361	6,725	1,896	2,470	4,344	6,933	7,634
Trade Payables	980	273	944	1,363	1,576	3,286	3,921
Net Working Capital	614	5,830	7,786	5,372	2,833	4,771	4,694
Net Working Capital % of Revenue	3.2%	48.2%	151.0%	77.4%	29.3%	26.6%	33.3%
Trade Working Capital	381	6,462	7,776	1,107	2,786	3,674	3,747
Trade Working Capital % of Revenue	2.0%	53.4%	150.8%	16.0%	28.9%	20.5%	26.6%
Change in Trade Working Capital	N/A	6,081	1,314	-6,670	1,679	888	74
Turnover & efficiency
Inventory Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Receivables Turnover	14.09x	1.80x	2.72x	2.81x	2.22x	2.59x	1.85x
Days Sales Outstanding (DSO)	25.9	202.9	134.2	130.0	164.2	141.1	197.6
Payables Turnover	0.00x	N/A	N/A	N/A	N/A	N/A	N/A
Days Payable Outstanding (DPO)	188824.0	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion Cycle	-188798.1 days	202.9 days	134.2 days	130.0 days	164.2 days	141.1 days	197.6 days
Asset Turnover	4.78x	1.76x	0.59x	0.66x	1.52x	1.74x	1.26x
Cash flow & dividends
Operating Cash Flow	N/A	-997	-42	678	-404	1,459	-218
Free Cash Flow (OCF − Capex proxy)	N/A	-997	-42	678	-640	1,445	-223
Cash Conversion (OCF / EBITDA)	N/A	-25.0%	-2.2%	24.0%	-14.3%	20.3%	-3.6%
Dividends Declared	N/A	N/A	N/A	N/A	0	0	0
Dividend Payout Ratio	N/A	N/A	N/A	N/A	0.0%	0.0%	0.0%

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.

Key statistics

About

Revenue & margins

Financial statements

Ownership & group structure

Directors & board

Peers