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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Non-bank Credit (MFO/Leasing) — Leasing. Per the activity note to the FY2024 annual report, the company provides leasing services. 60% owner of SHO "En-Duo".
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 90.3% | 96.1% | 93.2% | 96.6% | 98.6% | 100.0% |
| EBITDA Margin | 43.4% | -16.8% | 21.7% | 15.0% | 11.6% | 14.2% |
| EBITDAR | 421 | -113 | 156 | 116 | 87 | 129 |
| EBITDAR Margin | 43.4% | -16.8% | 21.7% | 15.0% | 11.6% | 14.2% |
| EBIT Margin | 40.5% | -21.3% | 17.2% | 10.8% | 7.3% | 10.7% |
| Net Profit Margin | 27.6% | -17.9% | 52.8% | 41.1% | 1.9% | 6.8% |
| Operating Expense % of Sales | 46.9% | 112.8% | 71.5% | 81.5% | 87.1% | 85.8% |
| Returns | ||||||
| Return on Assets (ROA) | 11.4% | -5.6% | 17.0% | 13.9% | 0.7% | 2.8% |
| Return on Equity (ROE) | 65.3% | -204.1% | 58.9% | 33.7% | 1.5% | 6.2% |
| ROIC [EBIT / Invested Capital] | 19.8% | -7.1% | 6.2% | 4.0% | 2.7% | 4.7% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 77.1% | 91.9% | 63.0% | 51.5% | 50.8% | 49.4% |
| Debt-to-Equity | 4.41x | 33.71x | 2.19x | 1.25x | 1.16x | 1.09x |
| Debt-to-EBITDA | 4.29x | N/A | 9.00x | 10.14x | 12.70x | 8.46x |
| Equity-to-Assets | 17.5% | 2.7% | 28.8% | 41.1% | 43.8% | 45.2% |
| Net Debt | 1,572 | 1,951 | 1,362 | 1,140 | 1,086 | 1,083 |
| Cash & Equivalents | 237 | 37 | 39 | 35 | 19 | 6 |
| Total Debt | 1,809 | 1,988 | 1,402 | 1,176 | 1,105 | 1,089 |
| Liquidity & working capital | ||||||
| Current Ratio | 5.30x | 9.01x | 0.82x | 1.59x | 1.25x | 1.41x |
| Quick Ratio | 3.85x | 2.22x | 0.24x | 1.59x | 1.25x | 1.41x |
| Cash Ratio | 3.57x | 1.95x | 0.18x | 0.21x | 0.13x | 0.04x |
| Total Current Assets | 352 | 173 | 178 | 267 | 191 | 231 |
| Total Current Liabilities | 66 | 19 | 217 | 168 | 153 | 165 |
| Inventory | 96 | 130 | 126 | N/A | N/A | N/A |
| Trade Receivables | 5 | 2 | 9 | 87 | 17 | 84 |
| Trade Payables | 12 | 3 | 16 | 29 | 27 | 24 |
| Net Working Capital | 286 | 154 | -39 | 100 | 39 | 67 |
| Net Working Capital % of Revenue | 29.4% | 22.8% | -5.4% | 12.9% | 5.1% | 7.3% |
| Trade Working Capital | 89 | 129 | 118 | 58 | -9 | 60 |
| Trade Working Capital % of Revenue | 9.2% | 19.2% | 16.5% | 7.5% | -1.3% | 6.6% |
| Change in Trade Working Capital | N/A | 40 | -11 | -60 | -68 | 70 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 0.98x | 0.20x | 0.39x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 372.3 | 1792.0 | 943.8 | N/A | N/A | N/A |
| Receivables Turnover | 181.35x | 310.02x | 83.55x | 8.87x | 44.09x | 10.77x |
| Days Sales Outstanding (DSO) | 2.0 | 1.2 | 4.4 | 41.2 | 8.3 | 33.9 |
| Payables Turnover | 7.63x | 8.18x | 3.02x | 0.92x | 0.39x | 0.01x |
| Days Payable Outstanding (DPO) | 47.8 | 44.6 | 120.9 | 397.8 | 938.3 | 28535.0 |
| Cash Conversion Cycle | 326.5 days | 1748.6 days | 827.3 days | -356.7 days | -930.0 days | -28501.1 days |
| Asset Turnover | 0.41x | 0.31x | 0.32x | 0.34x | 0.35x | 0.41x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 217 | -200 | 385 | 103 | 147 | 177 |
| Free Cash Flow (OCF − Capex proxy) | 217 | -200 | 385 | 103 | 147 | 166 |
| Cash Conversion (OCF / EBITDA) | 51.5% | N/A | 247.1% | 88.6% | 169.3% | 137.3% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | 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).
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