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.
Guangdong Xinbao Electrical Appliances Holdings Co Ltd
Physical assets are 44.6% of total assets, a mixed footprint. Capex is 1.49x 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 17.1%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 3.19x. Compare it with other names in the same basket.
Physical asset ratio
44.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.19x
Revenue per dollar of the physical asset base.
Capex / D&A
1.49x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 27.58
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.41x
Price CNY 11.34.
Fixed-charge coverage
1.30x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
4.2%
Latest free cash flow divided by current market cap (CNY 9.24B).
ROIC
17.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.25x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 44.6% | 4.23x | 2.27x | CNY 4.24 | 0.45x | -CNY 284.72M | 21.2% | 0.29x |
| 2019 | 44.9% | 4.16x | 1.85x | CNY 4.74 | 0.35x | CNY 825.84M | 30.1% | 0.36x |
| 2020 | 38.4% | 4.93x | 2.61x | CNY 6.97 | 0.47x | CNY 1.58B | 75.4% | 0.51x |
| 2021 | 48.0% | 4.38x | 2.71x | CNY 6.84 | 0.72x | -CNY 231.95M | 28.7% | 0.29x |
| 2022 | 42.7% | 3.57x | 2.27x | CNY 8.05 | 3.04x | CNY 385.23M | 32.2% | 0.33x |
| 2023 | 42.3% | 3.45x | 3.37x | CNY 6.94 | 0.05x | -CNY 74.14M | 24.3% | 0.31x |
| 2024 | 44.7% | 3.53x | 1.67x | CNY 7.78 | 1.56x | CNY 319.20M | 20.7% | 0.28x |
| 2025 | 44.6% | 3.19x | 1.49x | CNY 27.58 | 1.30x | CNY 391.33M | 17.1% | 0.25x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 5.07B
Inventory: CNY 1.90B
Total assets: CNY 15.61B
Goodwill: CNY 27.99M
Intangibles: CNY 1.92B
Liabilities: -CNY 8.59B
Tangible book: CNY 22.25B
Shares: 806,751,199
Revenue: CNY 16.19B
Capex: CNY 927.37M
D&A: CNY 621.88M
EBITDA: CNY 1.87B
Interest: CNY 75.75M
Short-term debt: CNY 648.23M
Free cash flow: CNY 391.33M
Operating income: CNY 1.27B
Invested capital: CNY 5.96B
Tax rate: 19.5%