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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 73.5% | 72.8% | 69.4% | 65.1% | 71.6% | 77.1% | 78.5% | 78.7% |
| EBITDA Margin | 11.5% | 18.9% | 19.1% | 18.9% | 9.6% | 47.9% | 46.1% | 55.5% |
| EBITDAR | 61 | 103 | 113 | 56 | 41 | 366 | 436 | 558 |
| EBITDAR Margin | 11.5% | 18.9% | 19.1% | 18.9% | 9.6% | 47.9% | 46.1% | 55.5% |
| EBIT Margin | 9.0% | 16.4% | 17.1% | 14.9% | 6.8% | 47.0% | 45.2% | 54.7% |
| Net Profit Margin | 17.9% | 11.0% | 4.4% | -69.1% | 25.0% | 52.1% | 44.8% | 48.1% |
| Operating Expense % of Sales | 62.0% | 53.9% | 50.4% | 46.2% | 62.0% | 29.1% | 32.5% | 23.2% |
| Returns | ||||||||
| Return on Assets (ROA) | 4.4% | 2.9% | 1.3% | -10.7% | 5.4% | 19.1% | 20.6% | 16.8% |
| Return on Equity (ROE) | 24.0% | 11.0% | 4.5% | -56.1% | 20.5% | 43.1% | 31.4% | 16.9% |
| ROIC [EBIT / Invested Capital] | 2.8% | 4.8% | 5.4% | 2.5% | 1.6% | 19.0% | 23.0% | 19.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 68.0% | 66.8% | 67.2% | 76.1% | 70.4% | 55.1% | 34.2% | 0.0% |
| Debt-to-Equity | 3.67x | 2.54x | 2.36x | 3.98x | 2.69x | 1.24x | 0.52x | 0.00x |
| Debt-to-EBITDA | 23.88x | 13.44x | 11.95x | 25.98x | 34.33x | 3.13x | 1.62x | 0.00x |
| Equity-to-Assets | 18.5% | 26.4% | 28.4% | 19.1% | 26.2% | 44.4% | 65.4% | 99.2% |
| Net Debt | 1,320 | 1,301 | 1,289 | 1,443 | 1,310 | 968 | 508 | -94 |
| Cash & Equivalents | 126 | 79 | 57 | 11 | 102 | 177 | 196 | 94 |
| Total Debt | 1,447 | 1,380 | 1,346 | 1,453 | 1,413 | 1,145 | 704 | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.99x | 0.76x | 0.92x | 0.40x | 1.79x | 24.54x | 27.93x | 5.33x |
| Quick Ratio | 0.99x | 0.76x | 0.75x | 0.25x | 1.61x | 24.54x | 27.93x | 5.33x |
| Cash Ratio | 0.61x | 0.56x | 0.65x | 0.12x | 1.50x | 20.17x | 24.51x | 4.34x |
| Total Current Assets | 205 | 106 | 81 | 37 | 122 | 215 | 223 | 115 |
| Total Current Liabilities | 207 | 141 | 87 | 90 | 68 | 9 | 8 | 22 |
| Inventory | N/A | -1 | 15 | 14 | 12 | N/A | N/A | N/A |
| Trade Receivables | 4 | 1 | 2 | 3 | 1 | 4 | 6 | 5 |
| Trade Payables | 207 | 132 | 83 | 89 | 67 | 9 | 6 | 5 |
| Net Working Capital | -2 | -34 | -7 | -54 | 54 | 206 | 215 | 94 |
| Net Working Capital % of Revenue | -0.4% | -6.3% | -1.1% | -18.2% | 12.5% | 27.0% | 22.7% | 9.3% |
| Trade Working Capital | -204 | -131 | -66 | -71 | -53 | -5 | -1 | 1 |
| Trade Working Capital % of Revenue | -38.6% | -24.2% | -11.1% | -24.0% | -12.4% | -0.7% | -0.1% | 0.1% |
| Change in Trade Working Capital | N/A | 72 | 66 | -6 | 18 | 48 | 4 | 1 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | -174.74x | 11.69x | 7.31x | 9.90x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | -2.1 | 31.2 | 50.0 | 36.9 | N/A | N/A | N/A |
| Receivables Turnover | 146.97x | 384.82x | 285.17x | 90.01x | 344.44x | 209.80x | 171.12x | 191.19x |
| Days Sales Outstanding (DSO) | 2.5 | 0.9 | 1.3 | 4.1 | 1.1 | 1.7 | 2.1 | 1.9 |
| Payables Turnover | 0.67x | 1.12x | 2.17x | 1.17x | 1.83x | 19.95x | 31.76x | 45.17x |
| Days Payable Outstanding (DPO) | 541.3 | 326.4 | 168.2 | 313.0 | 199.7 | 18.3 | 11.5 | 8.1 |
| Cash Conversion Cycle | -538.8 days | -327.6 days | -135.7 days | -258.9 days | -161.8 days | -16.6 days | -9.4 days | -6.2 days |
| Asset Turnover | 0.25x | 0.26x | 0.29x | 0.16x | 0.21x | 0.37x | 0.46x | 0.35x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 326 | 240 | 262 | 120 | 173 | 538 | 743 | 763 |
| Free Cash Flow (OCF − Capex proxy) | 326 | 167 | 211 | 109 | 162 | 461 | 742 | 553 |
| Cash Conversion (OCF / EBITDA) | 537.8% | 234.1% | 232.5% | 215.1% | 421.4% | 147.1% | 170.6% | 136.8% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | 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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