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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 1,053 · FY2024 1,352 — 3-yr total 2,405
Operates in FMCG — Distribution. Per the activity note to the FY2024 annual report, the company imports and distributes cosmetics, food and consumer products throughout Georgia.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 22.7% | 23.9% | 26.9% | 27.3% | 26.2% | 35.8% | 30.1% | 27.7% |
| EBITDA Margin | 16.4% | -0.3% | 10.3% | 13.5% | 12.3% | 19.6% | 15.0% | 8.0% |
| EBITDAR | 4,207 | 869 | 4,201 | 5,162 | 5,165 | 8,028 | 6,609 | 3,430 |
| EBITDAR Margin | 18.7% | 2.5% | 10.3% | 13.5% | 12.3% | 19.6% | 15.1% | 8.1% |
| EBIT Margin | 15.8% | -1.1% | 8.3% | 11.2% | 10.2% | 17.4% | 12.9% | 6.0% |
| Net Profit Margin | -0.3% | -4.4% | 2.5% | 7.0% | 6.7% | 14.4% | 10.5% | 2.8% |
| Operating Expense % of Sales | 6.3% | 24.2% | 16.6% | 13.8% | 13.9% | 16.2% | 15.1% | 19.7% |
| Returns | ||||||||
| Return on Assets (ROA) | -0.6% | -7.4% | 3.7% | 12.3% | 12.7% | 26.7% | 16.1% | 4.4% |
| Return on Equity (ROE) | -0.8% | -27.4% | 15.4% | 28.6% | 23.1% | 32.7% | 21.3% | 5.5% |
| ROIC [EBIT / Invested Capital] | 38.2% | -2.1% | 14.8% | 25.1% | 22.7% | 35.9% | 29.1% | 11.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 18.5% | 59.5% | 60.6% | 37.1% | 32.4% | 9.2% | 13.2% | 8.8% |
| Debt-to-Equity | 0.25x | 2.21x | 2.50x | 0.86x | 0.59x | 0.11x | 0.17x | 0.11x |
| Debt-to-EBITDA | 0.51x | N/A | 3.97x | 1.57x | 1.38x | 0.25x | 0.57x | 0.68x |
| Equity-to-Assets | 73.2% | 26.9% | 24.3% | 43.0% | 55.2% | 81.8% | 75.5% | 80.9% |
| Net Debt | 1,809 | 12,405 | 16,114 | 7,659 | 6,731 | 1,787 | -2,161 | 463 |
| Cash & Equivalents | 85 | 33 | 558 | 422 | 395 | 245 | 5,932 | 1,856 |
| Total Debt | 1,894 | 12,438 | 16,672 | 8,081 | 7,126 | 2,032 | 3,771 | 2,319 |
| Liquidity & working capital | ||||||||
| Current Ratio | 4.31x | 1.30x | 1.10x | 1.69x | 2.17x | 5.35x | 4.01x | 7.18x |
| Quick Ratio | 2.85x | 0.82x | 0.63x | 0.96x | 1.43x | 3.68x | 2.94x | 5.01x |
| Cash Ratio | 0.04x | 0.00x | 0.03x | 0.04x | 0.04x | 0.06x | 0.86x | 0.56x |
| Total Current Assets | 9,233 | 19,251 | 20,772 | 18,589 | 19,517 | 20,200 | 27,492 | 23,699 |
| Total Current Liabilities | 2,143 | 14,754 | 18,897 | 11,011 | 9,007 | 3,774 | 6,864 | 3,300 |
| Inventory | 3,118 | 7,193 | 8,810 | 7,965 | 6,624 | 6,320 | 7,278 | 7,173 |
| Trade Receivables | 5,992 | 11,085 | 11,243 | 9,810 | 12,377 | 13,449 | 14,051 | 14,237 |
| Trade Payables | 743 | 2,846 | 4,160 | 4,332 | 2,728 | 1,972 | 3,231 | 2,734 |
| Net Working Capital | 7,090 | 4,497 | 1,875 | 7,578 | 10,510 | 16,426 | 20,628 | 20,399 |
| Net Working Capital % of Revenue | 31.6% | 12.8% | 4.6% | 19.9% | 25.1% | 40.1% | 47.1% | 48.3% |
| Trade Working Capital | 8,367 | 15,432 | 15,893 | 13,443 | 16,273 | 17,797 | 18,098 | 18,676 |
| Trade Working Capital % of Revenue | 37.2% | 43.8% | 39.1% | 35.2% | 38.8% | 43.4% | 41.3% | 44.2% |
| Change in Trade Working Capital | N/A | 7,065 | 461 | -2,450 | 2,830 | 1,524 | 301 | 578 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 5.57x | 3.73x | 3.38x | 3.48x | 4.67x | 4.16x | 4.21x | 4.26x |
| Days Inventory Outstanding (DIO) | 65.5 | 97.9 | 108.1 | 104.9 | 78.1 | 87.7 | 86.8 | 85.7 |
| Receivables Turnover | 3.75x | 3.18x | 3.62x | 3.89x | 3.39x | 3.05x | 3.12x | 2.97x |
| Days Sales Outstanding (DSO) | 97.3 | 114.8 | 100.9 | 93.9 | 107.7 | 119.7 | 117.1 | 123.0 |
| Payables Turnover | 23.39x | 9.42x | 7.15x | 6.40x | 11.34x | 13.34x | 9.47x | 11.17x |
| Days Payable Outstanding (DPO) | 15.6 | 38.7 | 51.1 | 57.0 | 32.2 | 27.4 | 38.5 | 32.7 |
| Cash Conversion Cycle | 147.2 days | 174.0 days | 158.0 days | 141.7 days | 153.6 days | 180.1 days | 165.3 days | 176.0 days |
| Asset Turnover | 2.19x | 1.69x | 1.48x | 1.75x | 1.91x | 1.86x | 1.53x | 1.60x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -119 | -9,419 | 2,360 | 5,643 | 1,271 | 5,352 | 5,232 | 1,411 |
| Free Cash Flow (OCF − Capex proxy) | -119 | -10,327 | -999 | 8,497 | 1,073 | 5,095 | 5,060 | 1,406 |
| Cash Conversion (OCF / EBITDA) | -3.2% | N/A | 56.2% | 109.3% | 24.6% | 66.7% | 79.4% | 41.5% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 1,053 | 1,352 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% | 22.9% | 115.3% |
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).
Ranked by how close each latest revenue is to this one — not a curated comp set.