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.
Joyoung Co Ltd
Physical assets are 14.3% of total assets, a light footprint. Capex is 0.14x 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 0.08x, which is below 1.
Fixed-asset turnover is 14.21x. Compare it with other names in the same basket.
Physical asset ratio
14.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
14.21x
Revenue per dollar of the physical asset base.
Capex / D&A
0.14x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 4.68
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.80x
Price CNY 17.79.
Fixed-charge coverage
0.08x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.4%
Latest free cash flow divided by current market cap (CNY 13.57B).
ROIC
5.3%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.15x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 21.9% | 11.49x | 1.57x | CNY 4.86 | 127.30x | CNY 296.38M | 24.0% | 1.24x |
| 2019 | 24.0% | 13.24x | 1.19x | CNY 4.73 | 0.86x | CNY 1.16B | 28.1% | 1.33x |
| 2020 | 17.5% | 17.07x | 1.03x | CNY 5.42 | 0.73x | CNY 1.93B | 39.2% | 1.62x |
| 2021 | 20.7% | 14.79x | 1.36x | CNY 5.37 | 12.44x | -CNY 131.69M | 37.1% | 1.09x |
| 2022 | 19.9% | 14.04x | 0.78x | CNY 4.23 | 0.49x | CNY 553.23M | 18.6% | 0.82x |
| 2023 | 15.9% | 14.66x | 0.55x | CNY 4.50 | 0.16x | CNY 722.68M | 13.8% | 0.66x |
| 2024 | 16.5% | 14.38x | 0.48x | CNY 4.42 | 0.00x | CNY 142.96M | 2.0% | 0.09x |
| 2025 | 14.3% | 14.21x | 0.14x | CNY 4.68 | 0.08x | CNY 737.50M | 5.3% | 0.15x |
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: CNY 576.08M
Inventory: CNY 536.53M
Total assets: CNY 7.80B
Goodwill: CNY 0.00
Intangibles: CNY 113.47M
Liabilities: CNY 4.19B
Tangible book: CNY 3.50B
Shares: 748,004,150
Revenue: CNY 8.18B
Capex: CNY 12.87M
D&A: CNY 90.04M
EBITDA: CNY 178.16M
Interest: CNY 4.02M
Short-term debt: CNY 2.04B
Free cash flow: CNY 737.50M
Operating income: CNY 88.11M
Invested capital: CNY 1.67B
Tax rate: 0.0%