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.
CXMT Corporation
Physical assets are 72.3% of total assets, a heavy footprint. Capex is 1.88x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -1.00x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 0.29x.
Physical asset ratio
72.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.29x
Revenue per dollar of the physical asset base.
Capex / D&A
1.88x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
CNY 2.49
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
18.09x
Price CNY 45.02.
Fixed-charge coverage
-1.00x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-0.4%
Latest free cash flow divided by current market cap (CNY 3,056.14B).
ROIC
7.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.05x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2022 | 68.8% | 0.09x | 5.97x | CNY 1.09 | -6.60x | -CNY 37.39B | — | -0.04x |
| 2023 | 76.2% | 0.07x | 3.66x | CNY 1.13 | -11.20x | -CNY 50.93B | — | -0.04x |
| 2024 | 78.4% | 0.12x | 4.49x | CNY 1.72 | -13.83x | -CNY 64.33B | — | -0.02x |
| 2025 | 72.3% | 0.29x | 1.88x | CNY 2.49 | -1.00x | -CNY 13.22B | 7.7% | 0.05x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: CNY 214.94B
Inventory: CNY 28.57B
Total assets: CNY 336.78B
Goodwill: CNY 0.00
Intangibles: CNY 4.28B
Liabilities: CNY 182.68B
Tangible book: CNY 149.82B
Shares: 60,192,797,469
Revenue: CNY 61.80B
Capex: CNY 49.74B
D&A: CNY 26.43B
EBITDA: CNY 37.12B
Interest: CNY 2.99B
Short-term debt: CNY 9.68B
Free cash flow: -CNY 13.22B
Operating income: CNY 11.11B
Invested capital: CNY 133.26B
Tax rate: 7.2%