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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 47,659 · FY2024 125,109 — 3-yr total 172,768
Georgia Capital is a London-listed (LSE: CGEO) investment holding company with portfolio investments in Georgian healthcare, retail (pharmacy), insurance, beverages, real estate (m2), and renewable energy.
Group parent — controls 3 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | N/A | 38.4% | 40.1% | N/A | N/A | N/A | N/A | N/A |
| EBITDA Margin | N/A | 18.5% | 19.7% | N/A | N/A | N/A | N/A | N/A |
| EBITDAR | -1,017 | 260,923 | 294,896 | -23,640 | -27,474 | -31,854 | -29,714 | -32,548 |
| EBITDAR Margin | N/A | 20.3% | 20.0% | N/A | N/A | N/A | N/A | N/A |
| EBIT Margin | N/A | 13.4% | 12.2% | N/A | N/A | N/A | N/A | N/A |
| Net Profit Margin | N/A | 3.2% | 41.5% | N/A | N/A | N/A | N/A | N/A |
| Operating Expense % of Sales | N/A | 19.9% | 20.4% | N/A | N/A | N/A | N/A | N/A |
| Returns | ||||||||
| Return on Assets (ROA) | 4.0% | 1.1% | 23.6% | 10.0% | 17.3% | 0.4% | 16.5% | 8.9% |
| Return on Equity (ROE) | 10.2% | 2.9% | 34.8% | 14.5% | 24.0% | 0.5% | 18.5% | 10.0% |
| ROIC [EBIT / Invested Capital] | -0.1% | 6.0% | 7.3% | -0.8% | -0.7% | -1.0% | -0.8% | -0.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 28.1% | 46.7% | 31.9% | 30.7% | 27.4% | 19.6% | 11.0% | 10.8% |
| Debt-to-Equity | 0.72x | 1.18x | 0.47x | 0.44x | 0.38x | 0.24x | 0.12x | 0.12x |
| Debt-to-EBITDA | N/A | 7.10x | 2.85x | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | 39.3% | 39.4% | 67.8% | 69.2% | 72.0% | 80.3% | 89.0% | 89.1% |
| Net Debt | 382,330 | 1,436,153 | 709,367 | 864,179 | 1,006,542 | 481,681 | 362,864 | 265,164 |
| Cash & Equivalents | 346,239 | 253,349 | 117,215 | 117,026 | 89,714 | 199,771 | 51,138 | 167,801 |
| Total Debt | 728,569 | 1,689,502 | 826,582 | 981,205 | 1,096,256 | 681,452 | 414,002 | 432,965 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.19x | 1.36x | 23.69x | 313.39x | 6.95x | 42.53x | 81.55x | 163.88x |
| Quick Ratio | 1.05x | 0.94x | 23.69x | 313.39x | 6.95x | 42.53x | 81.55x | 163.88x |
| Cash Ratio | 0.71x | 0.50x | 22.50x | 220.39x | 4.12x | 36.85x | 53.10x | 101.33x |
| Total Current Assets | 576,830 | 687,664 | 123,377 | 166,409 | 151,211 | 230,531 | 78,537 | 271,379 |
| Total Current Liabilities | 485,473 | 505,437 | 5,209 | 531 | 21,767 | 5,421 | 963 | 1,656 |
| Inventory | 68,677 | 211,868 | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Receivables | 21,507 | 170,228 | 1,176 | 117 | 96 | 109 | 3,274 | 2,777 |
| Trade Payables | 42,987 | 143,114 | 1,284 | 531 | 839 | 917 | 888 | 1,586 |
| Net Working Capital | 91,357 | 182,227 | 118,168 | 165,878 | 129,444 | 225,110 | 77,574 | 269,723 |
| Net Working Capital % of Revenue | N/A | 14.2% | 8.0% | N/A | N/A | N/A | N/A | N/A |
| Trade Working Capital | 47,197 | 238,982 | -108 | -414 | -743 | -808 | 2,386 | 1,191 |
| Trade Working Capital % of Revenue | N/A | 18.6% | -0.0% | N/A | N/A | N/A | N/A | N/A |
| Change in Trade Working Capital | N/A | 191,785 | -239,090 | -306 | -329 | -65 | 3,194 | -1,195 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | 3.73x | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 97.9 | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | N/A | 7.54x | 1252.92x | N/A | N/A | N/A | N/A | N/A |
| Days Sales Outstanding (DSO) | N/A | 48.4 | 0.3 | N/A | N/A | N/A | N/A | N/A |
| Payables Turnover | N/A | 5.52x | 687.71x | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | 66.1 | 0.5 | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | N/A | 80.2 days | -0.2 days | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.00x | 0.35x | 0.57x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 921 | 177,482 | 260,932 | -1,283 | 74,640 | 100,469 | 155,004 | 122,679 |
| Free Cash Flow (OCF − Capex proxy) | 921 | -363,860 | -194,253 | 47,876 | -87,485 | 590,843 | 237,380 | 284,462 |
| Cash Conversion (OCF / EBITDA) | N/A | 74.6% | 90.0% | N/A | N/A | N/A | N/A | N/A |
| Dividends Declared | 0 | 11,003 | 11,259 | 0 | 14,481 | 0 | 47,659 | 125,109 |
| Dividend Payout Ratio | 0.0% | 27.0% | 1.8% | 0.0% | 2.1% | 0.0% | 7.7% | 35.1% |
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).
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