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.
Autodesk Inc
Physical assets are 2.2% of total assets, a light footprint. Capex is 0.44x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 34.8%, above an 8% cost-of-capital hurdle.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 25.92x.
Physical asset ratio
2.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
25.92x
Revenue per dollar of the physical asset base.
Capex / D&A
0.44x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$7.99
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $245.16.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.0%
Latest free cash flow divided by current market cap ($48.31B).
ROIC
34.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 5.68x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 3.2% | 17.17x | 0.70x | -$12.64 | 0.57x | $310.10M | — | -0.17x |
| 2020 | 9.7% | 5.45x | 0.42x | -$11.93 | 0.83x | $1.36B | 44.4% | 0.57x |
| 2021 | 8.4% | 6.22x | 0.77x | -$8.24 | 5.14x | $1.34B | 51.9% | 1.03x |
| 2022 | 5.4% | 9.39x | 0.45x | -$14.63 | 1.70x | $1.46B | 25.3% | 1.32x |
| 2023 | 4.1% | 12.87x | 0.31x | -$13.24 | 7.19x | $2.03B | 49.5% | 2.54x |
| 2024 | 7.9% | 15.93x | 0.22x | -$10.20 | 16.59x | $1.28B | 40.3% | 3.27x |
| 2025 | 2.6% | 21.44x | 0.57x | -$10.12 | — | $1.51B | 33.4% | 4.79x |
| 2026 | 2.2% | 25.92x | 0.44x | -$7.99 | — | $2.41B | 34.8% | 5.68x |
- Inventory was missing and treated as zero in the physical asset ratio.
- 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 (2026)
Net PP&E: $278.00M
Inventory: $0.00
Total assets: $12.47B
Goodwill: $4.30B
Intangibles: $467.00M
Liabilities: $9.42B
Tangible book: -$1.72B
Shares: 215,000,000
Revenue: $7.21B
Capex: $43.00M
D&A: $98.00M
EBITDA: $1.91B
Interest: —
Short-term debt: $52.00M
Free cash flow: $2.41B
Operating income: $1.58B
Invested capital: $3.18B
Tax rate: 29.9%