Zghapari (შპს ზღაპარი)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	18.3%	76.8%	79.8%	75.7%	99.4%	100.0%	100.0%
EBITDA Margin	3.1%	50.1%	37.4%	18.3%	81.8%	85.0%	48.1%
EBITDAR	274	1,258	1,060	665	1,667	1,628	3,256
EBITDAR Margin	3.4%	51.3%	39.2%	19.7%	81.8%	85.0%	84.9%
EBIT Margin	0.5%	37.1%	23.1%	6.3%	54.1%	55.1%	43.5%
Net Profit Margin	2.7%	26.7%	3.6%	33.8%	91.2%	43.6%	42.3%
Operating Expense % of Sales	15.2%	26.7%	42.4%	57.4%	17.7%	15.0%	51.9%
Returns
Return on Assets (ROA)	3.4%	8.2%	1.1%	10.4%	15.8%	7.5%	14.5%
Return on Equity (ROE)	6.4%	16.4%	2.4%	21.7%	26.1%	11.1%	18.2%
ROIC [EBIT / Invested Capital]	0.8%	12.0%	8.0%	2.1%	10.1%	10.4%	16.4%
Leverage & debt balances
Debt-to-Assets	23.2%	48.4%	44.6%	44.5%	32.6%	23.7%	11.1%
Debt-to-Equity	0.43x	0.96x	0.95x	0.93x	0.54x	0.35x	0.14x
Debt-to-EBITDA	5.85x	3.13x	3.86x	7.92x	2.30x	1.62x	0.68x
Equity-to-Assets	54.0%	50.4%	46.9%	47.7%	60.6%	67.8%	79.6%
Net Debt	1,271	3,572	3,738	4,857	3,835	2,620	1,243
Cash & Equivalents	166	279	166	32	4	12	4
Total Debt	1,437	3,851	3,904	4,889	3,840	2,632	1,248
Liquidity & working capital
Current Ratio	0.63x	1.02x	0.65x	0.09x	0.45x	0.17x	0.47x
Quick Ratio	0.63x	0.69x	0.51x	0.08x	0.45x	0.17x	0.47x
Cash Ratio	0.09x	0.26x	0.08x	0.01x	0.01x	0.01x	0.00x
Total Current Assets	1,119	1,097	1,408	182	349	275	628
Total Current Liabilities	1,772	1,074	2,173	2,141	769	1,624	1,323
Inventory	N/A	360	302	19	N/A	N/A	N/A
Trade Receivables	373	253	790	132	237	32	525
Trade Payables	1,415	72	740	834	769	87	331
Net Working Capital	-653	23	-765	-1,958	-420	-1,348	-695
Net Working Capital % of Revenue	-8.2%	0.9%	-28.3%	-58.1%	-20.6%	-70.4%	-18.1%
Trade Working Capital	-1,042	540	352	-683	-532	-54	195
Trade Working Capital % of Revenue	-13.1%	22.0%	13.0%	-20.3%	-26.1%	-2.8%	5.1%
Change in Trade Working Capital	N/A	1,582	-188	-1,035	151	478	249
Turnover & efficiency
Inventory Turnover	N/A	1.58x	1.81x	43.86x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	231.3	201.7	8.3	N/A	N/A	N/A
Receivables Turnover	21.34x	9.70x	3.42x	25.64x	8.60x	59.01x	7.30x
Days Sales Outstanding (DSO)	17.1	37.6	106.6	14.2	42.4	6.2	50.0
Payables Turnover	4.60x	7.84x	0.74x	0.98x	0.01x	0.00x	N/A
Days Payable Outstanding (DPO)	79.4	46.5	494.4	370.9	24776.0	319360.3	N/A
Cash Conversion Cycle	-62.3 days	222.3 days	-186.1 days	-348.4 days	-24733.6 days	-319354.1 days	50.0 days
Asset Turnover	1.28x	0.31x	0.31x	0.31x	0.17x	0.17x	0.34x
Cash flow & dividends
Operating Cash Flow	-187	1,154	1,172	2,929	935	1,701	1,579
Free Cash Flow (OCF − Capex proxy)	-1,827	-2,023	950	-1,249	245	1,402	1,339
Cash Conversion (OCF / EBITDA)	-76.3%	94.0%	115.8%	474.4%	56.1%	104.5%	85.6%
Dividends Declared	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

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.

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