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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 63.5% | 48.0% | 47.5% |
| EBITDA Margin | 51.0% | 34.0% | 30.0% |
| EBITDAR | 1,921 | 1,335 | 761 |
| EBITDAR Margin | 51.0% | 34.0% | 30.0% |
| EBIT Margin | 51.0% | 34.0% | 30.0% |
| Net Profit Margin | 64.8% | 40.9% | 63.9% |
| Operating Expense % of Sales | 12.5% | 14.0% | 17.5% |
| Returns | |||
| Return on Assets (ROA) | 15.9% | 11.1% | 11.3% |
| Return on Equity (ROE) | 26.7% | 15.4% | 13.5% |
| ROIC [EBIT / Invested Capital] | 13.9% | 9.8% | 5.4% |
| Leverage & debt balances | |||
| Debt-to-Assets | 31.9% | 24.7% | 14.7% |
| Debt-to-Equity | 0.54x | 0.34x | 0.18x |
| Debt-to-EBITDA | 2.55x | 2.69x | 2.77x |
| Equity-to-Assets | 59.5% | 72.0% | 83.5% |
| Net Debt | 4,705 | 3,219 | 2,068 |
| Cash & Equivalents | 200 | 375 | 39 |
| Total Debt | 4,905 | 3,594 | 2,107 |
| Liquidity & working capital | |||
| Current Ratio | 2.07x | 2.81x | 5.10x |
| Quick Ratio | 2.07x | 2.81x | 5.10x |
| Cash Ratio | 0.03x | 0.09x | 0.02x |
| Total Current Assets | 12,901 | 11,473 | 12,084 |
| Total Current Liabilities | 6,233 | 4,076 | 2,369 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | N/A | N/A | N/A |
| Trade Payables | 350 | 209 | 262 |
| Net Working Capital | 6,668 | 7,397 | 9,715 |
| Net Working Capital % of Revenue | 176.9% | 188.5% | 383.4% |
| Trade Working Capital | -350 | -209 | -262 |
| Trade Working Capital % of Revenue | -9.3% | -5.3% | -10.3% |
| Change in Trade Working Capital | N/A | 141 | -53 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | N/A | N/A | N/A |
| Days Sales Outstanding (DSO) | N/A | N/A | N/A |
| Payables Turnover | 3.93x | 9.77x | 5.08x |
| Days Payable Outstanding (DPO) | 92.8 | 37.4 | 71.9 |
| Cash Conversion Cycle | -92.8 days | -37.4 days | -71.9 days |
| Asset Turnover | 0.24x | 0.27x | 0.18x |
| Cash flow & dividends | |||
| Operating Cash Flow | 1,389 | 2,672 | 1,828 |
| Free Cash Flow (OCF − Capex proxy) | 924 | 2,232 | 2,771 |
| Cash Conversion (OCF / EBITDA) | 72.3% | 200.1% | 240.2% |
| Dividends Declared | N/A | N/A | N/A |
| Dividend Payout Ratio | 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).