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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2018 0 · FY2019 0 · FY2020 0
Operates in Industrial Goods — Chemicals. Per the activity note to the FY2024 annual report, the company manufactures and sells industrial lubricating materials.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 18.7% | 20.7% | 24.8% | 17.4% | 15.5% | 23.7% | 21.1% |
| EBITDA Margin | 8.8% | 10.4% | 13.0% | 9.1% | 8.5% | 16.3% | 13.0% |
| EBITDAR | 725 | 1,244 | 1,878 | 1,794 | 1,575 | 2,695 | 2,041 |
| EBITDAR Margin | 10.0% | 10.9% | 13.6% | 9.6% | 9.2% | 16.9% | 13.5% |
| EBIT Margin | 8.2% | 9.9% | 12.4% | 8.6% | 7.8% | 15.6% | 12.1% |
| Net Profit Margin | 8.6% | 8.2% | 13.5% | 8.4% | 6.6% | 13.6% | 13.5% |
| Operating Expense % of Sales | 9.9% | 10.4% | 11.8% | 8.3% | 7.0% | 7.4% | 8.2% |
| Returns | |||||||
| Return on Assets (ROA) | 12.6% | 14.8% | 18.5% | 12.7% | 7.2% | 20.9% | 19.2% |
| Return on Equity (ROE) | 116.8% | 63.8% | 55.7% | 36.4% | 22.8% | 30.5% | 33.1% |
| ROIC [EBIT / Invested Capital] | 20.6% | 30.8% | 29.3% | 29.5% | 15.1% | 34.9% | 31.7% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 62.9% | 60.6% | 42.9% | 41.2% | 47.1% | 15.2% | 13.9% |
| Debt-to-Equity | 5.82x | 2.62x | 1.29x | 1.19x | 1.48x | 0.22x | 0.24x |
| Debt-to-EBITDA | 4.87x | 3.27x | 2.39x | 2.99x | 5.03x | 0.61x | 0.75x |
| Equity-to-Assets | 10.8% | 23.1% | 33.3% | 34.8% | 31.8% | 68.7% | 58.0% |
| Net Debt | 2,378 | 2,183 | 2,533 | 1,150 | 3,848 | -8 | -353 |
| Cash & Equivalents | 739 | 1,691 | 1,773 | 3,973 | 3,513 | 1,586 | 1,818 |
| Total Debt | 3,117 | 3,874 | 4,306 | 5,123 | 7,360 | 1,578 | 1,465 |
| Liquidity & working capital | |||||||
| Current Ratio | 1.95x | 4.12x | 3.65x | 2.93x | 1.95x | 5.42x | 3.16x |
| Quick Ratio | 1.51x | 2.97x | 3.03x | 2.14x | 1.95x | 5.42x | 3.16x |
| Cash Ratio | 0.36x | 1.30x | 0.74x | 1.33x | 0.48x | 0.94x | 0.61x |
| Total Current Assets | 3,982 | 5,381 | 8,736 | 8,734 | 14,240 | 9,128 | 9,416 |
| Total Current Liabilities | 2,043 | 1,305 | 2,392 | 2,978 | 7,299 | 1,683 | 2,979 |
| Inventory | 892 | 1,505 | 1,495 | 2,367 | N/A | N/A | N/A |
| Trade Receivables | 828 | 1,617 | 4,089 | 4,148 | 7,252 | 4,976 | 4,690 |
| Trade Payables | 1,305 | 1,039 | 2,392 | 2,974 | 2,250 | 478 | 2,979 |
| Net Working Capital | 1,938 | 4,076 | 6,344 | 5,756 | 6,940 | 7,445 | 6,437 |
| Net Working Capital % of Revenue | 26.6% | 35.7% | 45.8% | 30.7% | 40.4% | 46.6% | 42.7% |
| Trade Working Capital | 415 | 2,083 | 3,192 | 3,541 | 5,002 | 4,498 | 1,711 |
| Trade Working Capital % of Revenue | 5.7% | 18.2% | 23.1% | 18.9% | 29.1% | 28.2% | 11.3% |
| Change in Trade Working Capital | N/A | 1,668 | 1,109 | 349 | 1,461 | -504 | -2,788 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 6.64x | 6.02x | 6.96x | 6.55x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 55.0 | 60.6 | 52.5 | 55.7 | N/A | N/A | N/A |
| Receivables Turnover | 8.79x | 7.07x | 3.38x | 4.53x | 2.37x | 3.21x | 3.22x |
| Days Sales Outstanding (DSO) | 41.5 | 51.6 | 107.8 | 80.6 | 154.0 | 113.7 | 113.5 |
| Payables Turnover | 4.54x | 8.72x | 4.35x | 5.21x | 6.46x | 25.51x | 3.99x |
| Days Payable Outstanding (DPO) | 80.5 | 41.9 | 83.9 | 70.0 | 56.5 | 14.3 | 91.4 |
| Cash Conversion Cycle | 16.0 days | 70.4 days | 76.4 days | 66.3 days | 97.4 days | 99.4 days | 22.1 days |
| Asset Turnover | 1.47x | 1.79x | 1.38x | 1.51x | 1.10x | 1.53x | 1.43x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -1,099 | 468 | -25 | 3,891 | -2,488 | 3,895 | 310 |
| Free Cash Flow (OCF − Capex proxy) | -1,098 | 561 | 348 | 3,217 | -2,972 | 3,856 | 306 |
| Cash Conversion (OCF / EBITDA) | -171.7% | 39.5% | -1.4% | 227.2% | -170.0% | 149.3% | 15.9% |
| Dividends Declared | 0 | 0 | 0 | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 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).
Ranked by how close each latest revenue is to this one — not a curated comp set.