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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 0 · FY2024 0
Subsidiary of Nikora (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | -9.9% | 18.6% | 26.1% | 16.3% | 9.3% | 13.9% | 21.1% | 9.1% |
| EBITDA Margin | -20.7% | -11.0% | 7.5% | -5.6% | -25.3% | -1.6% | 12.6% | 1.3% |
| EBITDAR | -283 | -221 | 313 | -171 | -797 | -40 | 411 | 39 |
| EBITDAR Margin | -20.7% | -11.0% | 7.5% | -5.6% | -25.3% | -1.6% | 12.6% | 1.3% |
| EBIT Margin | -20.7% | -11.0% | 7.5% | -5.6% | -25.3% | -1.6% | 12.6% | 1.3% |
| Net Profit Margin | -43.4% | -20.1% | 0.3% | -12.9% | -29.8% | -10.8% | -3.3% | -10.1% |
| Operating Expense % of Sales | 10.8% | 29.7% | 18.6% | 21.9% | 34.6% | 15.5% | 8.6% | 7.8% |
| Returns | ||||||||
| Return on Assets (ROA) | -49.4% | -32.6% | 0.7% | -23.2% | -79.1% | -22.6% | -11.6% | -51.1% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -28.6% | -28.0% | 23.1% | -20.0% | -460.5% | N/A | N/A | 25.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 97.3% | 111.2% | 96.0% | 106.1% | 174.5% | 163.6% | 191.4% | 293.2% |
| Debt-to-Equity | -6.78x | -2.39x | -3.43x | -1.90x | -1.09x | -0.91x | -0.78x | -1.10x |
| Debt-to-EBITDA | N/A | N/A | 6.13x | N/A | N/A | N/A | 4.32x | 43.08x |
| Equity-to-Assets | -14.4% | -46.6% | -28.0% | -55.9% | -159.9% | -180.5% | -244.6% | -266.0% |
| Net Debt | 1,162 | 1,364 | 1,915 | 1,809 | 2,064 | 1,959 | 1,776 | 1,680 |
| Cash & Equivalents | 4 | 5 | 4 | 2 | 1 | 1 | 0 | N/A |
| Total Debt | 1,167 | 1,369 | 1,919 | 1,811 | 2,065 | 1,960 | 1,776 | 1,680 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.23x | 0.24x | 0.75x | 0.63x | 0.10x | 0.27x | 0.25x | 0.29x |
| Quick Ratio | 0.11x | 0.16x | 0.48x | 0.29x | 0.00x | 0.09x | 0.07x | 0.20x |
| Cash Ratio | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Total Current Assets | 259 | 439 | 883 | 885 | 259 | 517 | 460 | 573 |
| Total Current Liabilities | 1,113 | 1,805 | 1,171 | 1,409 | 2,538 | 1,902 | 1,877 | 1,973 |
| Inventory | 141 | 148 | 326 | 472 | 250 | 349 | 337 | 169 |
| Trade Receivables | 113 | 285 | 552 | 411 | 8 | 168 | 124 | 1 |
| Trade Payables | 204 | 436 | 639 | 851 | 1,009 | 1,400 | 1,422 | 417 |
| Net Working Capital | -854 | -1,366 | -289 | -523 | -2,279 | -1,385 | -1,417 | -1,400 |
| Net Working Capital % of Revenue | -62.6% | -68.2% | -6.9% | -17.1% | -72.5% | -55.4% | -43.3% | -48.3% |
| Trade Working Capital | 50 | -2 | 239 | 31 | -751 | -883 | -961 | -247 |
| Trade Working Capital % of Revenue | 3.7% | -0.1% | 5.7% | 1.0% | -23.9% | -35.3% | -29.4% | -8.5% |
| Change in Trade Working Capital | N/A | -52 | 241 | -207 | -782 | -132 | -78 | 714 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 10.61x | 10.98x | 9.47x | 5.44x | 11.42x | 6.18x | 7.66x | 15.59x |
| Days Inventory Outstanding (DIO) | 34.4 | 33.2 | 38.5 | 67.1 | 32.0 | 59.1 | 47.7 | 23.4 |
| Receivables Turnover | 12.08x | 7.02x | 7.56x | 7.48x | 370.35x | 14.85x | 26.45x | 2899.00x |
| Days Sales Outstanding (DSO) | 30.2 | 52.0 | 48.3 | 48.8 | 1.0 | 24.6 | 13.8 | 0.1 |
| Payables Turnover | 7.34x | 3.74x | 4.83x | 3.02x | 2.83x | 1.54x | 1.81x | 6.32x |
| Days Payable Outstanding (DPO) | 49.8 | 97.6 | 75.6 | 121.0 | 129.1 | 237.2 | 201.2 | 57.8 |
| Cash Conversion Cycle | 14.9 days | -12.3 days | 11.2 days | -5.0 days | -96.1 days | -153.5 days | -139.7 days | -34.2 days |
| Asset Turnover | 1.14x | 1.63x | 2.09x | 1.80x | 2.66x | 2.09x | 3.52x | 5.06x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -229 | -116 | 972 | 171 | 119 | 186 | 80 | -946 |
| Free Cash Flow (OCF − Capex proxy) | -229 | -171 | 302 | 121 | 136 | 167 | -115 | -948 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | 310.4% | N/A | N/A | N/A | 19.5% | -2425.6% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | N/A | 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.