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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 rents out construction and municipal equipment through leasing and financing. Also provides sales of auxiliary motorized equipment.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 79.7% | 84.7% | 88.4% |
| EBITDA Margin | 53.1% | 0.2% | 11.5% |
| EBITDAR | 1,593 | 69 | 229 |
| EBITDAR Margin | 53.1% | 3.5% | 14.9% |
| EBIT Margin | 45.8% | -9.9% | 0.5% |
| Net Profit Margin | 45.5% | -19.9% | 10.5% |
| Operating Expense % of Sales | 26.6% | 84.6% | 77.0% |
| Returns | |||
| Return on Assets (ROA) | 56.3% | -20.4% | 9.4% |
| Return on Equity (ROE) | 126.4% | -73.9% | 25.0% |
| ROIC [EBIT / Invested Capital] | 64.8% | -15.9% | 0.5% |
| Leverage & debt balances | |||
| Debt-to-Assets | 51.2% | 44.2% | 58.1% |
| Debt-to-Equity | 1.15x | 1.60x | 1.55x |
| Debt-to-EBITDA | 0.78x | 256.21x | 5.69x |
| Equity-to-Assets | 44.5% | 27.7% | 37.6% |
| Net Debt | 1,042 | 690 | 946 |
| Cash & Equivalents | 199 | 146 | 57 |
| Total Debt | 1,240 | 837 | 1,003 |
| Liquidity & working capital | |||
| Current Ratio | 1.50x | 1.00x | 0.33x |
| Quick Ratio | 1.50x | 1.00x | 0.33x |
| Cash Ratio | 0.20x | 0.14x | 0.05x |
| Total Current Assets | 1,530 | 1,051 | 358 |
| Total Current Liabilities | 1,018 | 1,047 | 1,078 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 640 | 335 | 274 |
| Trade Payables | N/A | N/A | N/A |
| Net Working Capital | 512 | 4 | -720 |
| Net Working Capital % of Revenue | 17.1% | 0.2% | -46.9% |
| Trade Working Capital | 640 | 335 | 274 |
| Trade Working Capital % of Revenue | 21.3% | 17.3% | 17.8% |
| Change in Trade Working Capital | N/A | -304 | -61 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 4.69x | 5.79x | 5.61x |
| Days Sales Outstanding (DSO) | 77.8 | 63.0 | 65.1 |
| Payables Turnover | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A |
| Cash Conversion Cycle | 77.8 days | 63.0 days | 65.1 days |
| Asset Turnover | 1.24x | 1.03x | 0.89x |
| Cash flow & dividends | |||
| Operating Cash Flow | 174 | 228 | 61 |
| Free Cash Flow (OCF − Capex proxy) | 162 | -74 | -75 |
| Cash Conversion (OCF / EBITDA) | 10.9% | 6977.6% | 34.6% |
| 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).
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