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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Subsidiary of Formula (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 92.6% | 92.0% | 99.9% | 100.0% |
| EBITDA Margin | -10.0% | -32.1% | 14.3% | 20.5% |
| EBITDAR | -661 | -2,453 | 515 | 150 |
| EBITDAR Margin | -10.0% | -32.1% | 14.3% | 20.5% |
| EBIT Margin | -12.9% | -34.5% | 9.1% | 15.2% |
| Net Profit Margin | -10.0% | -34.5% | 9.1% | 20.5% |
| Operating Expense % of Sales | 102.6% | 124.1% | 85.6% | 79.5% |
| Returns | ||||
| Return on Assets (ROA) | -28.8% | -116.5% | 20.2% | 15.8% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | N/A | N/A | N/A | N/A |
| Leverage & debt balances | ||||
| Debt-to-Assets | 1.8% | 3.1% | 1.9% | 3.2% |
| Debt-to-Equity | -0.06x | -0.04x | -0.03x | -0.04x |
| Debt-to-EBITDA | N/A | N/A | 0.06x | 0.21x |
| Equity-to-Assets | -29.0% | -76.5% | -55.6% | -79.0% |
| Net Debt | -20 | 56 | 19 | 29 |
| Cash & Equivalents | 61 | 15 | 12 | 2 |
| Total Debt | 41 | 71 | 31 | 31 |
| Liquidity & working capital | ||||
| Current Ratio | 0.97x | 0.52x | 0.49x | 0.54x |
| Quick Ratio | 0.97x | 0.52x | 0.49x | 0.54x |
| Cash Ratio | 0.04x | 0.01x | 0.00x | 0.00x |
| Total Current Assets | 1,619 | 1,455 | 1,233 | 914 |
| Total Current Liabilities | 1,668 | 2,805 | 2,531 | 1,708 |
| Inventory | N/A | 4 | N/A | N/A |
| Trade Receivables | 1,441 | 1,394 | 950 | 871 |
| Trade Payables | 1,405 | 645 | 1,356 | 544 |
| Net Working Capital | -50 | -1,350 | -1,298 | -794 |
| Net Working Capital % of Revenue | -0.8% | -17.7% | -36.0% | -108.1% |
| Trade Working Capital | 35 | 753 | -406 | 327 |
| Trade Working Capital % of Revenue | 0.5% | 9.9% | -11.3% | 44.5% |
| Change in Trade Working Capital | N/A | 718 | -1,160 | 733 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | 164.59x | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 2.2 | N/A | N/A |
| Receivables Turnover | 4.59x | 5.48x | 3.79x | 0.84x |
| Days Sales Outstanding (DSO) | 79.5 | 66.6 | 96.2 | 432.7 |
| Payables Turnover | 0.35x | 0.95x | 0.00x | N/A |
| Days Payable Outstanding (DPO) | 1049.3 | 383.9 | 132861.7 | N/A |
| Cash Conversion Cycle | -969.8 days | -315.1 days | -132765.5 days | 432.7 days |
| Asset Turnover | 2.89x | 3.38x | 2.21x | 0.77x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 70 | -483 | -503 | -61 |
| Free Cash Flow (OCF − Capex proxy) | -61 | -76 | -3 | -10 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | -97.8% | -40.6% |
| Dividends Declared | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | 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.
Ownership & directors from companyinfo.ge (public corporate registry).
Ranked by how close each latest revenue is to this one — not a curated comp set. Open this set in Compare →