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.
Xylem Inc.
Physical assets are 14.4% of total assets, a light footprint. Capex is 0.64x depreciation, so reinvestment is lagging the accounting charge. ROIC is 8.5%, above an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 5.83x.
Physical asset ratio
14.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.83x
Revenue per dollar of the physical asset base.
Capex / D&A
0.64x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$4.69
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
22.34x
Price $104.84.
Fixed-charge coverage
2.14x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
—
Latest free cash flow divided by current market cap.
ROIC
8.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.86x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 17.3% | 7.94x | 0.91x | -$7.87 | 3.66x | $349.00M | 14.0% | 1.09x |
| 2019 | 18.7% | 5.85x | 0.88x | -$5.77 | 3.23x | $613.00M | 14.3% | 0.79x |
| 2020 | 17.0% | 5.24x | 0.73x | -$5.36 | 1.94x | $641.00M | 9.9% | 0.53x |
| 2021 | 19.9% | 5.48x | 0.85x | -$3.21 | 3.89x | $330.00M | 10.8% | 0.63x |
| 2022 | 21.9% | 5.89x | 0.88x | -$0.81 | 3.70x | $388.00M | 11.3% | 0.71x |
| 2023 | 16.3% | 4.60x | 0.62x | $0.28 | 1.09x | $566.00M | 6.9% | 0.53x |
| 2024 | 14.9% | 5.86x | 0.57x | $2.15 | 6.30x | $942.00M | 7.4% | 0.73x |
| 2025 | 14.4% | 5.83x | 0.64x | $4.69 | 2.14x | $873.00M | 8.5% | 0.86x |
- 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: $1.55B
Inventory: $983.00M
Total assets: $17.63B
Goodwill: $8.33B
Intangibles: $2.27B
Liabilities: $5.89B
Tangible book: $1.15B
Shares: 244,000,000
Revenue: $9.04B
Capex: $368.00M
D&A: $575.00M
EBITDA: $1.90B
Interest: $29.00M
Short-term debt: $689.00M
Free cash flow: $873.00M
Operating income: $1.33B
Invested capital: $12.51B
Tax rate: 19.6%