Majorel Georgia (შპს მეიჯერელ საქართველო)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	19.5%	25.5%	41.9%	36.1%	19.5%	17.7%	25.9%
EBITDAR	5,312	10,474	42,049	63,593	34,778	29,327	42,096
EBITDAR Margin	27.5%	25.5%	41.9%	36.1%	19.5%	17.7%	25.9%
EBIT Margin	13.5%	11.6%	34.5%	30.0%	10.5%	6.9%	14.7%
Net Profit Margin	19.1%	5.3%	29.0%	28.4%	16.6%	6.4%	12.4%
Operating Expense % of Sales	80.5%	74.5%	66.6%	66.7%	86.0%	83.2%	74.4%
Returns
Return on Assets (ROA)	21.9%	5.3%	46.0%	41.6%	23.8%	9.6%	21.6%
Return on Equity (ROE)	60.1%	26.3%	77.7%	85.7%	41.7%	13.0%	27.2%
ROIC [EBIT / Invested Capital]	27.0%	14.8%	77.0%	103.2%	33.1%	15.2%	31.7%
Leverage & debt balances
Debt-to-Assets	53.8%	72.3%	28.3%	22.9%	17.2%	16.4%	13.7%
Debt-to-Equity	1.48x	3.57x	0.48x	0.47x	0.30x	0.22x	0.17x
Debt-to-EBITDA	2.41x	2.84x	0.43x	0.43x	0.61x	0.61x	0.30x
Equity-to-Assets	36.4%	20.3%	59.3%	48.5%	57.0%	74.4%	79.5%
Net Debt	3,476	23,779	7,500	-7,039	-14,362	-6,122	1,351
Cash & Equivalents	5,617	5,996	10,387	34,564	35,744	24,016	11,417
Total Debt	9,093	29,775	17,887	27,525	21,382	17,894	12,768
Liquidity & working capital
Current Ratio	0.92x	0.63x	3.21x	1.57x	1.83x	4.02x	7.09x
Quick Ratio	0.92x	0.63x	3.21x	1.57x	1.83x	4.02x	7.09x
Cash Ratio	0.52x	0.27x	0.99x	0.87x	0.94x	1.41x	1.19x
Total Current Assets	9,921	13,759	33,604	62,736	69,516	68,453	68,243
Total Current Liabilities	10,753	22,009	10,464	39,855	37,941	17,009	9,623
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Trade Receivables	4,311	8,212	23,422	28,692	33,890	42,059	57,096
Trade Payables	1,431	2,498	5,249	26,651	25,379	7,589	5,236
Net Working Capital	-832	-8,250	23,140	22,881	31,575	51,444	58,620
Net Working Capital % of Revenue	-4.3%	-20.1%	23.1%	13.0%	17.7%	31.0%	36.0%
Trade Working Capital	2,880	5,714	18,173	2,041	8,511	34,470	51,860
Trade Working Capital % of Revenue	14.9%	13.9%	18.1%	1.2%	4.8%	20.8%	31.8%
Change in Trade Working Capital	N/A	2,834	12,459	-16,132	6,470	25,959	17,390
Turnover & efficiency
Inventory Turnover	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
Receivables Turnover	4.48x	5.00x	4.28x	6.14x	5.25x	3.94x	2.85x
Days Sales Outstanding (DSO)	81.4	72.9	85.3	59.5	69.5	92.6	128.0
Payables Turnover	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
Cash Conversion Cycle	81.4 days	72.9 days	85.3 days	59.5 days	69.5 days	92.6 days	128.0 days
Asset Turnover	1.14x	1.00x	1.59x	1.47x	1.43x	1.52x	1.75x
Cash flow & dividends
Operating Cash Flow	2,955	8,408	27,836	63,881	25,452	9,368	22,320
Free Cash Flow (OCF − Capex proxy)	2,955	-5,504	22,422	45,258	16,822	8,147	20,851
Cash Conversion (OCF / EBITDA)	78.4%	80.3%	66.2%	100.5%	73.2%	31.9%	53.0%
Dividends Declared	0	0	0	29,100	17,007	0	27,500
Dividend Payout Ratio	0.0%	0.0%	0.0%	58.3%	57.6%	0.0%	136.5%

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.

Majorel Georgia

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