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.
Li Auto Inc
Physical assets are 26.3% of total assets, a light footprint. Capex is 0.91x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -0.08x, which is below 1.
Fixed-asset turnover is 3.43x. Compare it with other names in the same basket.
Physical asset ratio
26.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.43x
Revenue per dollar of the physical asset base.
Capex / D&A
0.91x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$33.09
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.35x
Price $44.76.
Fixed-charge coverage
-0.08x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-14.7%
Latest free cash flow divided by current market cap ($87.49B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.03x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 36.6% | 0.00x | 16.05x | -$1.79 | -24.45x | -$2.32B | — | -0.53x |
| 2019 | 40.2% | 0.09x | 8.19x | $2.97 | -3.12x | -$2.75B | — | -0.56x |
| 2020 | 13.2% | 2.52x | 2.10x | $16.20 | -2.02x | $2.46B | — | -0.18x |
| 2021 | 13.2% | 4.12x | 5.83x | $21.75 | -29.35x | $4.90B | — | -0.16x |
| 2022 | 24.9% | 3.08x | 4.22x | $22.85 | -12.00x | $2.25B | — | -0.25x |
| 2023 | 19.9% | 5.71x | 3.61x | $28.22 | 0.38x | $44.19B | — | 0.34x |
| 2024 | 23.2% | 4.90x | 2.53x | $33.06 | 5.01x | $8.20B | — | 0.24x |
| 2025 | 26.3% | 3.43x | 0.91x | $33.09 | -0.08x | -$12.82B | — | -0.03x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $31.89B
Inventory: $8.76B
Total assets: $154.36B
Goodwill: $5.48M
Intangibles: $2.70B
Liabilities: $80.75B
Tangible book: $70.90B
Shares: 2,142,728,000
Revenue: $109.41B
Capex: $4.21B
D&A: $4.64B
EBITDA: $3.67B
Interest: $163.73M
Short-term debt: $6.22B
Free cash flow: -$12.82B
Operating income: -$969.00M
Invested capital: —
Tax rate: 12.2%