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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 125 · FY2023 0 — 3-yr total 125
Largest private healthcare network in Georgia, operating a nationwide chain of hospitals and clinics; part of Georgia Healthcare Group / Georgia Capital.
Group parent — controls 1 company · ownership
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 45.4% | 47.3% | 44.4% | 42.6% | 46.0% |
| EBITDA Margin | 25.0% | 22.9% | 23.3% | 17.0% | 24.0% |
| EBITDAR | 9,041 | 11,893 | 17,169 | 11,949 | 17,302 |
| EBITDAR Margin | 26.6% | 25.7% | 24.3% | 18.2% | 25.2% |
| EBIT Margin | 9.3% | 10.5% | 13.1% | 4.3% | 8.6% |
| Net Profit Margin | -0.7% | -4.9% | 6.3% | -3.1% | -2.5% |
| Operating Expense % of Sales | 20.4% | 24.4% | 22.5% | 26.9% | 27.5% |
| Returns | |||||
| Return on Assets (ROA) | -0.2% | -1.6% | 3.0% | -1.3% | -1.1% |
| Return on Equity (ROE) | -0.3% | -3.1% | 5.7% | -2.8% | -2.3% |
| ROIC [EBIT / Invested Capital] | 2.4% | 3.9% | 7.3% | 2.1% | 4.1% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 37.6% | 40.1% | 36.0% | 43.6% | 44.4% |
| Debt-to-Equity | 0.70x | 0.76x | 0.69x | 0.92x | 0.98x |
| Debt-to-EBITDA | 6.37x | 5.22x | 3.21x | 6.18x | 4.35x |
| Equity-to-Assets | 53.3% | 52.5% | 52.3% | 47.3% | 45.3% |
| Net Debt | 53,485 | 52,987 | 49,718 | 63,403 | 71,415 |
| Cash & Equivalents | 724 | 2,446 | 3,149 | 5,700 | 476 |
| Total Debt | 54,209 | 55,433 | 52,867 | 69,103 | 71,891 |
| Liquidity & working capital | |||||
| Current Ratio | 0.99x | 0.62x | 0.51x | 0.66x | 0.52x |
| Quick Ratio | 0.92x | 0.51x | 0.43x | 0.61x | 0.49x |
| Cash Ratio | 0.04x | 0.09x | 0.07x | 0.14x | 0.01x |
| Total Current Assets | 16,056 | 17,869 | 23,790 | 26,144 | 30,046 |
| Total Current Liabilities | 16,267 | 28,617 | 46,964 | 39,729 | 57,433 |
| Inventory | 1,099 | 3,231 | 3,491 | 2,022 | 1,661 |
| Trade Receivables | 11,369 | 8,406 | 11,251 | 11,146 | 14,843 |
| Trade Payables | 7,774 | 6,774 | 11,995 | 11,622 | 13,064 |
| Net Working Capital | -211 | -10,748 | -23,174 | -13,585 | -27,387 |
| Net Working Capital % of Revenue | -0.6% | -23.2% | -32.9% | -20.6% | -39.9% |
| Trade Working Capital | 4,694 | 4,863 | 2,747 | 1,546 | 3,440 |
| Trade Working Capital % of Revenue | 13.8% | 10.5% | 3.9% | 2.3% | 5.0% |
| Change in Trade Working Capital | N/A | 169 | -2,116 | -1,201 | 1,894 |
| Turnover & efficiency | |||||
| Inventory Turnover | 16.89x | 7.57x | 11.23x | 18.66x | 22.31x |
| Days Inventory Outstanding (DIO) | 21.6 | 48.2 | 32.5 | 19.6 | 16.4 |
| Receivables Turnover | 2.99x | 5.51x | 6.27x | 5.90x | 4.63x |
| Days Sales Outstanding (DSO) | 122.1 | 66.2 | 58.2 | 61.8 | 78.9 |
| Payables Turnover | 2.39x | 3.61x | 3.27x | 3.25x | 2.84x |
| Days Payable Outstanding (DPO) | 152.9 | 101.1 | 111.7 | 112.4 | 128.7 |
| Cash Conversion Cycle | -9.2 days | 13.3 days | -20.9 days | -31.0 days | -33.4 days |
| Asset Turnover | 0.24x | 0.34x | 0.48x | 0.41x | 0.42x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 4,479 | 12,254 | 16,904 | 8,819 | 9,087 |
| Free Cash Flow (OCF − Capex proxy) | -1,478 | 7,228 | 9,421 | 829 | 11,197 |
| Cash Conversion (OCF / EBITDA) | 52.7% | 115.5% | 102.8% | 78.8% | 55.0% |
| Dividends Declared | 0 | 0 | 0 | 125 | 0 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | 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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