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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 181,588 · FY2023 242,008 · FY2024 212,000 — 3-yr total 635,596
Mars LLC is a Tbilisi-based limited liability company wholly owned by Entain Georgia (Crystalbet group) and operating as part of the Crystalbet gambling / betting business — legal contact uses the crystalbet.com domain.
Subsidiary of Entain Georgia (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 68.9% | 56.6% | 54.5% | 64.1% | 49.9% | 43.9% | 46.1% | 41.2% |
| EBITDAR | 70,763 | 92,468 | 141,822 | 232,799 | 226,228 | 182,852 | 206,695 | 207,568 |
| EBITDAR Margin | 68.9% | 56.6% | 54.5% | 64.1% | 49.9% | 43.9% | 46.1% | 41.2% |
| EBIT Margin | 68.5% | 55.8% | 53.8% | 63.4% | 49.3% | 43.2% | 45.5% | 40.5% |
| Net Profit Margin | 33.2% | 29.8% | 36.3% | 48.7% | 43.2% | 44.6% | 46.5% | 40.9% |
| Operating Expense % of Sales | 31.1% | 43.4% | 45.5% | 35.9% | 50.3% | 56.2% | 54.0% | 58.9% |
| Returns | ||||||||
| Return on Assets (ROA) | 138.9% | 91.7% | 105.3% | 105.4% | 227.0% | 223.0% | 391.7% | 343.4% |
| Return on Equity (ROE) | 181.8% | 129.8% | 129.9% | 127.4% | 336.5% | 297.2% | 716.2% | 878.6% |
| ROIC [EBIT / Invested Capital] | 4091.6% | N/A | N/A | N/A | N/A | 16823.1% | 2482.5% | N/A |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 1.9% | 0.9% | 1.5% | 0.8% | 2.9% | 3.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.02x | 0.01x | 0.02x | 0.01x | 0.05x | 0.08x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x | 0.00x | 0.01x | 0.01x |
| Equity-to-Assets | 76.4% | 70.7% | 81.1% | 82.7% | 67.5% | 75.0% | 54.7% | 39.1% |
| Net Debt | -17,014 | -44,011 | -72,832 | -139,085 | -61,621 | -61,469 | -20,900 | -28,041 |
| Cash & Equivalents | 17,014 | 44,011 | 74,560 | 140,648 | 62,953 | 62,159 | 22,451 | 29,818 |
| Total Debt | N/A | N/A | 1,728 | 1,563 | 1,332 | 690 | 1,551 | 1,777 |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.59x | 3.04x | 5.23x | 5.77x | 2.90x | 3.78x | 2.07x | 1.41x |
| Quick Ratio | 3.58x | 3.04x | -4.83x | 5.76x | 2.90x | 3.78x | 2.06x | 1.41x |
| Cash Ratio | 2.94x | 2824.48x | 4805.05x | 5.05x | 2.30x | 3.01x | 0.97x | 0.84x |
| Total Current Assets | 20,787 | 47 | 81 | 160,615 | 79,216 | 77,989 | 47,776 | 50,503 |
| Total Current Liabilities | 5,795 | 16 | 16 | 27,856 | 27,326 | 20,627 | 23,071 | 35,705 |
| Inventory | 26 | 0 | 156 | 62 | 79 | 28 | 191 | 20 |
| Trade Receivables | 2,893 | 1,325 | 2,931 | 3,315 | 5,828 | 7,634 | 10,446 | 10,484 |
| Trade Payables | 3,125 | 6,564 | 10,554 | 22,673 | 25,198 | 18,080 | 18,191 | 28,644 |
| Net Working Capital | 14,992 | 32 | 66 | 132,759 | 51,890 | 57,362 | 24,705 | 14,798 |
| Net Working Capital % of Revenue | 14.6% | 0.0% | 0.0% | 36.5% | 11.4% | 13.8% | 5.5% | 2.9% |
| Trade Working Capital | -206 | -5,239 | -7,467 | -19,296 | -19,291 | -10,418 | -7,554 | -18,140 |
| Trade Working Capital % of Revenue | -0.2% | -3.2% | -2.9% | -5.3% | -4.3% | -2.5% | -1.7% | -3.6% |
| Change in Trade Working Capital | N/A | -5,033 | -2,228 | -11,829 | 5 | 8,873 | 2,864 | -10,586 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | 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 | N/A |
| Receivables Turnover | 35.51x | 123.30x | 88.78x | 109.59x | 77.82x | 54.56x | 42.93x | 48.10x |
| Days Sales Outstanding (DSO) | 10.3 | 3.0 | 4.1 | 3.3 | 4.7 | 6.7 | 8.5 | 7.6 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 10.3 days | 3.0 days | 4.1 days | 3.3 days | 4.7 days | 6.7 days | 8.5 days | 7.6 days |
| Asset Turnover | 4.19x | 3.08x | 2.91x | 2.16x | 5.25x | 5.00x | 8.42x | 8.39x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 27,709 | 55,506 | 94,570 | 174,114 | 194,533 | 176,644 | 199,419 | 220,905 |
| Free Cash Flow (OCF − Capex proxy) | 27,709 | 52,102 | 94,829 | 177,704 | 199,403 | 181,424 | 202,790 | 216,879 |
| Cash Conversion (OCF / EBITDA) | 39.2% | 60.0% | 66.7% | 74.8% | 86.0% | 96.6% | 96.5% | 106.4% |
| Dividends Declared | 23,252 | 29,922 | 59,228 | 110,731 | 276,808 | 181,588 | 242,008 | 212,000 |
| Dividend Payout Ratio | 68.3% | 61.4% | 62.8% | 62.5% | 141.1% | 97.7% | 116.0% | 102.7% |
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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