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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
| Ratio | 2018 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 100.0% | 94.7% | 53.2% | 68.7% | 59.5% |
| EBITDA Margin | -21.6% | -194.7% | -13.5% | -66.1% | 4.4% |
| EBITDAR | -340 | -988 | -871 | -2,273 | 580 |
| EBITDAR Margin | -21.6% | -194.7% | -13.5% | -66.1% | 4.5% |
| EBIT Margin | -70.0% | -278.9% | -20.0% | -78.5% | 1.1% |
| Net Profit Margin | -49.5% | -560.5% | -12.6% | -71.9% | 0.1% |
| Operating Expense % of Sales | 121.6% | 289.3% | 66.6% | 134.9% | 55.1% |
| Returns | |||||
| Return on Assets (ROA) | -10.8% | -51.5% | -11.4% | -40.6% | 0.2% |
| Return on Equity (ROE) | N/A | -52.8% | -19.4% | -93.1% | 0.6% |
| ROIC [EBIT / Invested Capital] | -16.2% | -26.5% | -20.5% | -58.5% | 3.0% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 121.3% | 0.0% | 28.8% | 32.1% | 20.6% |
| Debt-to-Equity | -4.79x | 0.00x | 0.49x | 0.74x | 0.82x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A | 3.88x |
| Equity-to-Assets | -25.3% | 97.5% | 58.8% | 43.6% | 25.2% |
| Net Debt | 8,659 | -44 | 2,063 | 1,954 | 2,008 |
| Cash & Equivalents | 75 | 44 | 2 | 3 | 175 |
| Total Debt | 8,734 | N/A | 2,066 | 1,957 | 2,183 |
| Liquidity & working capital | |||||
| Current Ratio | 1.09x | 0.17x | 0.57x | 0.28x | 0.67x |
| Quick Ratio | 1.09x | 0.15x | 0.57x | 0.28x | 0.67x |
| Cash Ratio | 0.08x | 0.09x | 0.00x | 0.00x | 0.02x |
| Total Current Assets | 1,032 | 82 | 1,670 | 975 | 5,313 |
| Total Current Liabilities | 945 | 481 | 2,955 | 3,438 | 7,971 |
| Inventory | N/A | 10 | N/A | N/A | N/A |
| Trade Receivables | 286 | 2 | 233 | 14 | 189 |
| Trade Payables | 17 | 6 | 51 | 60 | 518 |
| Net Working Capital | 87 | -399 | -1,285 | -2,463 | -2,659 |
| Net Working Capital % of Revenue | 5.5% | -78.6% | -19.9% | -71.7% | -20.8% |
| Trade Working Capital | 269 | 6 | 181 | -46 | -329 |
| Trade Working Capital % of Revenue | 17.1% | 1.2% | 2.8% | -1.3% | -2.6% |
| Change in Trade Working Capital | N/A | N/A | 175 | -228 | -282 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | 2.72x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 134.1 | N/A | N/A | N/A |
| Receivables Turnover | 5.51x | 215.12x | 27.84x | 252.44x | 67.51x |
| Days Sales Outstanding (DSO) | 66.2 | 1.7 | 13.1 | 1.4 | 5.4 |
| Payables Turnover | N/A | 4.29x | 59.23x | 17.95x | 10.00x |
| Days Payable Outstanding (DPO) | N/A | 85.0 | 6.2 | 20.3 | 36.5 |
| Cash Conversion Cycle | 66.2 days | 50.8 days | 7.0 days | -18.9 days | -31.1 days |
| Asset Turnover | 0.22x | 0.09x | 0.90x | 0.56x | 1.20x |
| Cash flow & dividends | |||||
| Operating Cash Flow | N/A | 10,442 | -1,213 | N/A | N/A |
| Free Cash Flow (OCF − Capex proxy) | N/A | 10,420 | -1,756 | N/A | N/A |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A | N/A |
| Dividends Declared | N/A | N/A | N/A | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | 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.
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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