Capital Intensity
Score how much of a company is physical plant, inventory, and equipment, whether that base is being maintained, and whether the shares have tangible backing.
Gree Electric Appliances Inc of Zhuhai
Physical assets are 16.5% of total assets, a light footprint. Capex is 0.34x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.57x, which is below 1.
Fixed-asset turnover is 4.70x. Compare it with other names in the same basket.
Physical asset ratio
16.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.70x
Revenue per dollar of the physical asset base.
Capex / D&A
0.34x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 24.74
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.60x
Price CNY 39.49.
Fixed-charge coverage
0.57x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
20.1%
Latest free cash flow divided by current market cap (CNY 222.38B).
ROIC
24.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.85x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 16.0% | 9.88x | 1.23x | CNY 14.53 | 1.16x | CNY 23.10B | — | 1.55x |
| 2019 | 16.1% | 9.19x | 1.48x | CNY 17.69 | 1.25x | CNY 23.18B | — | 1.37x |
| 2020 | 18.2% | 7.30x | 1.26x | CNY 18.52 | 0.88x | CNY 14.71B | — | 1.13x |
| 2021 | 25.2% | 4.99x | 1.57x | CNY 17.03 | 0.65x | -CNY 3.83B | 283.3% | 0.71x |
| 2022 | 22.1% | 4.73x | 1.21x | CNY 16.14 | 0.40x | CNY 22.63B | 166.9% | 0.68x |
| 2023 | 20.1% | 4.92x | 1.03x | CNY 19.49 | 0.91x | CNY 50.97B | 131.9% | 0.79x |
| 2024 | 18.7% | 4.63x | 0.64x | CNY 23.50 | 0.81x | CNY 26.07B | 54.7% | 0.91x |
| 2025 | 16.5% | 4.70x | 0.34x | CNY 24.74 | 0.57x | CNY 44.67B | 24.1% | 0.85x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 36.41B
Inventory: CNY 28.18B
Total assets: CNY 391.37B
Goodwill: CNY 1.32B
Intangibles: CNY 9.86B
Liabilities: CNY 241.58B
Tangible book: CNY 138.60B
Shares: 5,601,405,741
Revenue: CNY 171.12B
Capex: CNY 1.72B
D&A: CNY 5.05B
EBITDA: CNY 41.67B
Interest: CNY 1.97B
Short-term debt: CNY 67.96B
Free cash flow: CNY 44.67B
Operating income: CNY 30.85B
Invested capital: CNY 106.47B
Tax rate: 16.7%