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.
Qingdao Haier Co Ltd
Physical assets are 33.7% of total assets, a mixed footprint. Capex is 1.01x 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. EBITDA after capex covers debt service by 0.99x, which is below 1.
Fixed-asset turnover is 5.70x. Compare it with other names in the same basket.
Physical asset ratio
33.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.70x
Revenue per dollar of the physical asset base.
Capex / D&A
1.01x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 9.27
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.19x
Price CNY 20.33.
Fixed-charge coverage
0.99x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
9.4%
Latest free cash flow divided by current market cap (CNY 188.95B).
ROIC
19.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.38x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 26.2% | 8.66x | 2.17x | CNY 3.85 | 0.86x | CNY 12.18B | 28.3% | 0.54x |
| 2019 | 29.1% | 7.63x | 1.36x | CNY 4.54 | 0.75x | CNY 8.89B | 24.6% | 0.55x |
| 2020 | 27.9% | 7.67x | 1.58x | CNY 5.32 | 0.88x | CNY 9.83B | 21.0% | 0.50x |
| 2021 | 31.8% | 7.77x | 1.53x | CNY 5.30 | 0.91x | CNY 15.76B | 28.8% | 0.54x |
| 2022 | 32.5% | 6.95x | 1.73x | CNY 6.39 | 1.08x | CNY 11.95B | 20.8% | 0.51x |
| 2023 | 32.1% | 6.56x | 1.79x | CNY 7.52 | 1.09x | CNY 15.36B | 21.8% | 0.49x |
| 2024 | 31.7% | 5.83x | 2.01x | CNY 8.27 | 0.93x | CNY 16.47B | 23.9% | 0.47x |
| 2025 | 33.7% | 5.70x | 1.01x | CNY 9.27 | 0.99x | CNY 17.79B | 19.1% | 0.38x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 52.94B
Inventory: CNY 46.85B
Total assets: CNY 295.80B
Goodwill: CNY 27.30B
Intangibles: CNY 14.64B
Liabilities: CNY 168.38B
Tangible book: CNY 85.48B
Shares: 9,223,018,000
Revenue: CNY 301.74B
Capex: CNY 8.85B
D&A: CNY 8.75B
EBITDA: CNY 28.99B
Interest: CNY 2.84B
Short-term debt: CNY 17.42B
Free cash flow: CNY 17.79B
Operating income: CNY 20.24B
Invested capital: CNY 91.14B
Tax rate: 14.1%