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.
Hangzhou Robam Appliances Co Ltd
Physical assets are 20.9% of total assets, a light footprint. Capex is 1.36x depreciation and free cash flow yield is still positive, which fits a physical base that is being replaced or expanded without consuming all of its cash. ROIC is 10.9%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 4.54x. Compare it with other names in the same basket.
Physical asset ratio
20.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.54x
Revenue per dollar of the physical asset base.
Capex / D&A
1.36x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 12.04
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.38x
Price CNY 16.60.
Fixed-charge coverage
13.37x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
8.6%
Latest free cash flow divided by current market cap (CNY 15.69B).
ROIC
10.9%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.58x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 25.1% | 7.23x | 1.90x | CNY 6.16 | 1,690.37x | CNY 1.33B | 87.6% | 1.66x |
| 2019 | 22.9% | 7.07x | 2.60x | CNY 7.03 | 2.38x | CNY 1.28B | 78.6% | 1.70x |
| 2020 | 21.6% | 6.23x | 2.59x | CNY 8.30 | 109.36x | CNY 1.26B | 94.7% | 1.50x |
| 2021 | 24.7% | 6.10x | 3.63x | CNY 8.95 | 27.20x | CNY 932.51M | 68.2% | 0.92x |
| 2022 | 24.3% | 5.01x | 3.52x | CNY 10.14 | 13.72x | CNY 1.44B | 78.1% | 0.87x |
| 2023 | 21.6% | 5.35x | 1.91x | CNY 10.99 | 14.53x | CNY 2.06B | 29.0% | 0.95x |
| 2024 | 19.3% | 5.39x | 1.48x | CNY 11.71 | 13.43x | CNY 1.40B | 20.9% | 0.86x |
| 2025 | 20.9% | 4.54x | 1.36x | CNY 12.04 | 13.37x | CNY 1.35B | 10.9% | 0.58x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 2.23B
Inventory: CNY 1.36B
Total assets: CNY 17.21B
Goodwill: CNY 0.00
Intangibles: CNY 196.41M
Liabilities: CNY 5.64B
Tangible book: CNY 11.38B
Shares: 944,938,916
Revenue: CNY 10.12B
Capex: CNY 250.22M
D&A: CNY 184.29M
EBITDA: CNY 1.62B
Interest: CNY 4.59M
Short-term debt: CNY 97.74M
Free cash flow: CNY 1.35B
Operating income: CNY 1.30B
Invested capital: CNY 10.36B
Tax rate: 13.4%