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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Non-bank Credit (MFO/Leasing) — Equipment & Vehicle Leasing. Per the activity note to the FY2019 annual report, the company provides heavy machinery services on construction sites.
| Ratio | 2017 | 2018 | 2019 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 55.0% | 89.1% | 83.5% |
| EBITDA Margin | 26.8% | 45.3% | 16.0% |
| EBITDAR | 872 | 562 | 82 |
| EBITDAR Margin | 26.8% | 45.3% | 16.0% |
| EBIT Margin | 21.5% | 36.2% | -6.5% |
| Net Profit Margin | 30.0% | 45.3% | 16.0% |
| Operating Expense % of Sales | 28.1% | 43.8% | 67.5% |
| Returns | |||
| Return on Assets (ROA) | 46.3% | 31.1% | 4.9% |
| Return on Equity (ROE) | 55.7% | 36.3% | 5.3% |
| ROIC [EBIT / Invested Capital] | 44.4% | 27.8% | -2.2% |
| Leverage & debt balances | |||
| Debt-to-Assets | 11.7% | 5.6% | 0.0% |
| Debt-to-Equity | 0.14x | 0.06x | 0.00x |
| Debt-to-EBITDA | 0.28x | 0.18x | 0.00x |
| Equity-to-Assets | 83.2% | 85.8% | 93.6% |
| Net Debt | -175 | 67 | -38 |
| Cash & Equivalents | 422 | 33 | 38 |
| Total Debt | 247 | 100 | N/A |
| Liquidity & working capital | |||
| Current Ratio | 3.96x | 2.01x | 2.79x |
| Quick Ratio | 3.96x | 2.01x | 2.79x |
| Cash Ratio | 2.96x | 0.25x | 0.46x |
| Total Current Assets | 565 | 267 | 231 |
| Total Current Liabilities | 143 | 133 | 83 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 144 | 234 | 193 |
| Trade Payables | 72 | 119 | 83 |
| Net Working Capital | 423 | 134 | 148 |
| Net Working Capital % of Revenue | 13.0% | 10.9% | 28.9% |
| Trade Working Capital | 72 | 116 | 110 |
| Trade Working Capital % of Revenue | 2.2% | 9.3% | 21.5% |
| Change in Trade Working Capital | N/A | 43 | -5 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 22.59x | 5.29x | 2.66x |
| Days Sales Outstanding (DSO) | 16.2 | 69.0 | 137.2 |
| Payables Turnover | 20.42x | 1.14x | 1.03x |
| Days Payable Outstanding (DPO) | 17.9 | 321.1 | 356.0 |
| Cash Conversion Cycle | -1.7 days | -252.0 days | -218.8 days |
| Asset Turnover | 1.54x | 0.69x | 0.31x |
| Cash flow & dividends | |||
| Operating Cash Flow | 4,106 | 462 | 203 |
| Free Cash Flow (OCF − Capex proxy) | 4,106 | 444 | 203 |
| Cash Conversion (OCF / EBITDA) | 471.1% | 82.3% | 247.4% |
| Dividends Declared | N/A | N/A | N/A |
| Dividend Payout Ratio | 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).