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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 2,421 · FY2023 1,093 · FY2024 1,295 — 3-yr total 4,809
Operates in Real Estate — Rental & Investment Property. Per the activity note to the FY2024 annual report, the company owns and leases real estate, with properties rented to healthcare organizations.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 84.3% | 89.5% | 97.6% | 89.9% | 90.7% | 92.4% | 100.0% |
| EBITDA Margin | 36.2% | 53.5% | 55.3% | 57.5% | 72.4% | 76.8% | 87.9% |
| EBITDAR | 1,573 | 5,071 | 1,914 | 3,356 | 4,656 | 4,353 | 3,969 |
| EBITDAR Margin | 36.2% | 53.5% | 55.3% | 57.5% | 72.4% | 76.8% | 87.9% |
| EBIT Margin | 22.7% | 43.5% | 38.1% | 51.2% | 68.1% | 72.2% | 82.7% |
| Net Profit Margin | 8.1% | 32.2% | 838.9% | 28.9% | 44.2% | 64.4% | 67.1% |
| Operating Expense % of Sales | 48.1% | 36.0% | 42.4% | 32.4% | 18.3% | 15.6% | 12.1% |
| Returns | |||||||
| Return on Assets (ROA) | 2.3% | 17.7% | 65.0% | 4.1% | 7.0% | 8.6% | 7.0% |
| Return on Equity (ROE) | 9.8% | 54.1% | 87.0% | 5.1% | 8.3% | 9.9% | 7.9% |
| ROIC [EBIT / Invested Capital] | 7.3% | 28.2% | 3.2% | 7.5% | 11.0% | 9.8% | 8.7% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 65.7% | 57.3% | 19.1% | 17.6% | 15.0% | 12.3% | 10.9% |
| Debt-to-Equity | 2.74x | 1.75x | 0.26x | 0.22x | 0.18x | 0.14x | 0.12x |
| Debt-to-EBITDA | 6.32x | 1.95x | 4.45x | 2.17x | 1.31x | 1.19x | 1.19x |
| Equity-to-Assets | 24.0% | 32.8% | 74.7% | 80.1% | 84.4% | 86.9% | 88.7% |
| Net Debt | 9,862 | 8,996 | 8,069 | 6,880 | 5,722 | 4,830 | 4,397 |
| Cash & Equivalents | 74 | 878 | 452 | 402 | 363 | 370 | 341 |
| Total Debt | 9,936 | 9,874 | 8,521 | 7,282 | 6,086 | 5,200 | 4,738 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.66x | 1.11x | 1.76x | 2.23x | 3.80x | 6.62x | 9.67x |
| Quick Ratio | 0.64x | 1.09x | 1.75x | 2.19x | 3.74x | 6.62x | 9.67x |
| Cash Ratio | 0.02x | 0.18x | 0.11x | 0.20x | 0.36x | 0.47x | 0.55x |
| Total Current Assets | 2,758 | 5,310 | 7,045 | 4,558 | 3,870 | 5,241 | 5,998 |
| Total Current Liabilities | 4,178 | 4,773 | 4,004 | 2,047 | 1,017 | 792 | 620 |
| Inventory | 85 | 108 | 36 | 78 | 64 | 2 | 2 |
| Trade Receivables | 2,245 | 3,840 | 1,953 | 3,966 | 3,406 | 4,147 | 5,656 |
| Trade Payables | 1,095 | 1,157 | 482 | 608 | 169 | 280 | 94 |
| Net Working Capital | -1,420 | 537 | 3,041 | 2,511 | 2,853 | 4,450 | 5,378 |
| Net Working Capital % of Revenue | -32.6% | 5.7% | 87.8% | 43.0% | 44.4% | 78.6% | 119.2% |
| Trade Working Capital | 1,235 | 2,791 | 1,506 | 3,436 | 3,301 | 3,869 | 5,563 |
| Trade Working Capital % of Revenue | 28.4% | 29.5% | 43.5% | 58.9% | 51.3% | 68.3% | 123.3% |
| Change in Trade Working Capital | N/A | 1,557 | -1,285 | 1,930 | -135 | 568 | 1,694 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 8.06x | 9.22x | 2.27x | 7.60x | 9.33x | 247.00x | N/A |
| Days Inventory Outstanding (DIO) | 45.3 | 39.6 | 160.7 | 48.0 | 39.1 | 1.5 | N/A |
| Receivables Turnover | 1.94x | 2.47x | 1.77x | 1.47x | 1.89x | 1.37x | 0.80x |
| Days Sales Outstanding (DSO) | 188.4 | 148.0 | 205.9 | 248.0 | 193.3 | 267.3 | 457.4 |
| Payables Turnover | 0.63x | 0.86x | 0.17x | 0.97x | 3.54x | 1.53x | N/A |
| Days Payable Outstanding (DPO) | 584.0 | 424.1 | 2161.4 | 375.1 | 103.2 | 238.6 | N/A |
| Cash Conversion Cycle | -350.3 days | -236.5 days | -1794.8 days | -79.0 days | 129.3 days | 30.1 days | 457.4 days |
| Asset Turnover | 0.29x | 0.55x | 0.08x | 0.14x | 0.16x | 0.13x | 0.10x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 896 | 2,943 | 3,300 | 3,195 | 3,756 | 1,308 | 267 |
| Free Cash Flow (OCF − Capex proxy) | -803 | 2,154 | 2,966 | 3,183 | 4,052 | 1,965 | 1,006 |
| Cash Conversion (OCF / EBITDA) | 56.9% | 58.0% | 172.4% | 95.2% | 80.7% | 30.0% | 6.7% |
| Dividends Declared | 0 | 130 | 241 | 1,379 | 2,421 | 1,093 | 1,295 |
| Dividend Payout Ratio | 0.0% | 4.3% | 0.8% | 81.8% | 85.3% | 30.0% | 42.7% |
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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