Audit and consulting company AGIC conducted research on authorized higher education institutions in Georgia.


The data in the study is taken from the website of the Reporting Portal, which provides financial and management reports of companies registered in Georgia.
The information is based on the data of 2018. The report reviews authorized higher education institutions that belong to the second and third categories. The study overviews universities, teaching universities, and colleges, the total number of which is 20. Six out of the total number of financial reports is audited.
The study focuses on the review of authorized higher education institutions, specifically their education programs, the number of students, and financial indicators. The data is taken from the Ministry of Education, Science, Culture and Sport of Georgia, as well as from the National Statistics Office of Georgia.

Results of the Research

The research overviews authorized higher education institutions with a total turnover of more than 118 million GEL and total assets of 192 GEL and profit before tax reached up to 25 million GEL
The study has identified industry-leading higher institutions according to their revenue, assets, and profit.
The analysis of the data has shown that Georgian higher education institutions have the following financial indicators: the average return on assets (ROA) is 12% and return on equity is 24%
Besides the indicators listed above, the study determines the financial ratios of the industry’s liquidity and solvency.
To see the full version of the research, follow the link.

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