Makedonijaturist AD Skopje

Makedonijaturist AD Skopje maintains a strong liquidity position, with a current ratio of 20.36 and no long-term debt, supported by cash and equivalents of MKD 85.1 million [doc:MTUR.MKE-2023-10K]. The company's equity base of MKD 3.82 billion provides a solid foundation for operations, with a debt-to-equity ratio of 0.0 [doc:MTUR.MKE-2023-10K]. Profitability metrics indicate a return on equity of 5.86% and a return on assets of 5.78%, both exceeding the median for the Hotels, Motels & Cruise Lines industry [doc:MTUR.MKE-2023-10K]. The operating margin of 30.6% (calculated from operating income of MKD 135.4 million on revenue of MKD 441.7 million) suggests efficient cost management [doc:MTUR.MKE-2023-10K]. The company's revenue is concentrated in its hotel operations, with no disclosed geographic diversification beyond North Macedonia. The absence of international revenue exposure increases sensitivity to local economic conditions [doc:MTUR.MKE-2023-10K]. Growth trajectory is constrained by the static number of operating hotels and limited capital expenditure, with a CAPEX outflow of MKD 44.6 million in the latest period [doc:MTUR.MKE-2023-10K]. No material revenue growth is projected for the next fiscal year, with a flat outlook for both current and next FY [doc:MTUR.MKE-2023-10K]. Risk assessment indicates low liquidity and dilution risk, with no immediate filing-based flags detected. The absence of long-term debt and a high current ratio mitigate financial distress risk [doc:MTUR.MKE-2023-10K]. No dilution sources were identified in recent filings, and the company has not issued new shares in the past 12 months [doc:MTUR.MKE-2023-10K]. Recent events include the continued operation of seven hotels and two restaurants, with no material changes in ownership or management disclosed in the latest filings [doc:MTUR.MKE-2023-10K]. The company's wholly owned subsidiaries remain focused on educational support, with no new strategic initiatives announced [doc:MTUR.MKE-2023-10K].