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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 80,001 — 3-yr total 80,001
EPAM Systems (Georgia) LLC is the Georgian delivery centre of NYSE-listed software-engineering services group EPAM Systems. Provides software engineering, consulting and product design for EPAM's global enterprise client base; one of the largest tech employers in Georgia (1,500+ engineers).
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba Epam Systems Ink. (100.0%)
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | N/A | 47.3% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | N/A | 10.2% | 21.1% | 12.4% | 9.7% |
| EBITDAR | -2,789 | 4,106 | 108,865 | 67,415 | 32,558 |
| EBITDAR Margin | N/A | 11.7% | 21.2% | 12.5% | 9.9% |
| EBIT Margin | N/A | 9.9% | 20.4% | 11.5% | 7.7% |
| Net Profit Margin | N/A | 10.1% | 18.8% | 11.2% | 9.7% |
| Operating Expense % of Sales | N/A | 37.1% | 78.9% | 87.6% | 90.3% |
| Returns | |||||
| Return on Assets (ROA) | -233.2% | 19.1% | 53.9% | 27.0% | 18.6% |
| Return on Equity (ROE) | N/A | 254.8% | 98.6% | 38.0% | 28.8% |
| ROIC [EBIT / Invested Capital] | N/A | 45.0% | N/A | 208.8% | N/A |
| Leverage & debt balances | |||||
| Debt-to-Assets | 328.1% | 65.7% | 2.4% | 1.9% | 6.8% |
| Debt-to-Equity | -1.41x | 8.77x | 0.04x | 0.03x | 0.11x |
| Debt-to-EBITDA | N/A | 3.41x | 0.04x | 0.06x | 0.36x |
| Equity-to-Assets | -233.2% | 7.5% | 54.7% | 71.2% | 64.8% |
| Net Debt | 2,756 | 6,316 | -141,023 | -128,876 | -110,802 |
| Cash & Equivalents | 1,179 | 5,879 | 145,282 | 133,126 | 122,390 |
| Total Debt | 3,935 | 12,195 | 4,259 | 4,250 | 11,588 |
| Liquidity & working capital | |||||
| Current Ratio | 0.30x | 0.85x | 2.16x | 3.44x | 2.95x |
| Quick Ratio | 0.30x | 0.84x | 2.15x | 3.44x | 2.94x |
| Cash Ratio | 0.30x | 0.40x | 1.87x | 2.16x | 2.34x |
| Total Current Assets | 1,199 | 12,517 | 168,132 | 212,798 | 154,253 |
| Total Current Liabilities | 3,997 | 14,700 | 77,858 | 61,771 | 52,257 |
| Inventory | N/A | 175 | 581 | 582 | 581 |
| Trade Receivables | N/A | 6,269 | 17,454 | 78,143 | 30,813 |
| Trade Payables | 61 | 466 | 1,212 | 5,243 | 5,856 |
| Net Working Capital | -2,797 | -2,183 | 90,274 | 151,027 | 101,996 |
| Net Working Capital % of Revenue | N/A | -6.2% | 17.5% | 28.1% | 31.1% |
| Trade Working Capital | -61 | 5,978 | 16,823 | 73,482 | 25,538 |
| Trade Working Capital % of Revenue | N/A | 17.1% | 3.3% | 13.7% | 7.8% |
| Change in Trade Working Capital | N/A | 6,039 | 10,845 | 56,659 | -47,944 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | 105.33x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 3.5 | N/A | N/A | N/A |
| Receivables Turnover | N/A | 5.58x | 29.47x | 6.89x | 10.64x |
| Days Sales Outstanding (DSO) | N/A | 65.4 | 12.4 | 53.0 | 34.3 |
| Payables Turnover | N/A | 39.56x | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | 9.2 | N/A | N/A | N/A |
| Cash Conversion Cycle | N/A | 59.6 days | 12.4 days | 53.0 days | 34.3 days |
| Asset Turnover | 0.00x | 1.89x | 2.86x | 2.42x | 1.93x |
| Cash flow & dividends | |||||
| Operating Cash Flow | -2,753 | 2,682 | 159,880 | -5,480 | 65,787 |
| Free Cash Flow (OCF − Capex proxy) | -2,753 | -761 | 153,690 | -7,396 | 64,472 |
| Cash Conversion (OCF / EBITDA) | N/A | 75.0% | 147.6% | -8.2% | 207.0% |
| Dividends Declared | N/A | N/A | 0 | 0 | 80,001 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | 0.0% | 252.8% |
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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