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.

HIMS+HERS HERS A DL-0001

82W.F · Healthcare · Drug Manufacturers - Specialty & Generic · EUR · Fundamentals
Asset-light

Physical assets are 24.6% of total assets, a light footprint. Capex is 4.45x 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 8.2%, above an 8% cost-of-capital hurdle.

Fixed-asset turnover is 5.23x. Compare it with other names in the same basket.

Physical asset ratio
24.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.23x
Revenue per dollar of the physical asset base.
Capex / D&A
4.45x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€0.29
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
87.09x
Price €25.48.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.0%
Latest free cash flow divided by current market cap (€5.94B).
ROIC
8.2%
After-tax operating income over equity plus debt minus cash. Operating income / net PP&E is 0.24x.

Footprint and return

Turnover and reinvestment

Year Physical FAT Capex/D&A TBV/sh Coverage FCF ROIC EBIT/PP&E
2022 10.3% 32.66x 0.97x €0.86 — -€33.78M — -4.26x
2023 15.5% 19.07x 2.78x €1.01 — €46.99M — -0.64x
2024 22.2% 15.88x 3.09x €1.45 — €198.33M — 0.67x
2025 24.6% 5.23x 4.45x €0.29 — €57.42M 8.2% 0.24x
Latest year inputs (2025)
Net PP&E: €448.98M
Inventory: €80.13M
Total assets: €2.15B
Goodwill: €278.33M
Intangibles: €196.12M
Liabilities: €1.61B
Tangible book: €66.49M
Shares: 227,245,521
Revenue: €2.35B
Capex: €242.59M
D&A: €54.50M
EBITDA: €160.12M
Interest: —
Short-term debt: —
Free cash flow: €57.42M
Operating income: €105.61M
Invested capital: €1.28B
Tax rate: 0.0%