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.
Adyen NV
Physical assets are 4.5% of total assets, a light footprint. Capex is 0.93x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 5.48x.
Physical asset ratio
4.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.48x
Revenue per dollar of the physical asset base.
Capex / D&A
0.93x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$1.67
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
6.30x
Price $10.51.
Fixed-charge coverage
9.33x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.7%
Latest free cash flow divided by current market cap ($33.21B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 2.27x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 1.7% | 69.10x | 1.58x | $0.19 | 116.60x | $370.20M | — | 7.60x |
| 2019 | 3.7% | 5.94x | 0.68x | $0.30 | 0.21x | $514.27M | — | 3.27x |
| 2020 | 4.3% | 4.27x | 0.60x | $0.39 | 0.15x | $999.55M | — | 3.12x |
| 2021 | 3.9% | 4.98x | 1.47x | $0.59 | 0.16x | $1.77B | — | 3.75x |
| 2022 | 5.4% | 4.12x | 1.50x | $0.77 | 0.13x | $1.93B | — | 2.91x |
| 2023 | 4.9% | 4.46x | 0.82x | $1.01 | 17.37x | $1.80B | — | 2.73x |
| 2024 | 4.4% | 5.45x | 0.97x | $1.36 | 15.39x | $1.60B | — | 2.14x |
| 2025 | 4.5% | 5.48x | 0.93x | $1.67 | 9.33x | $904.63M | — | 2.27x |
- 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 (2025)
Net PP&E: $468.78M
Inventory: $76.96M
Total assets: $12.25B
Goodwill: $0.00
Intangibles: $7.50M
Liabilities: $6.97B
Tangible book: $5.28B
Shares: 3,160,631,000
Revenue: $2.57B
Capex: $125.79M
D&A: $135.85M
EBITDA: $1.48B
Interest: $7.23M
Short-term debt: $138.16M
Free cash flow: $904.63M
Operating income: $1.07B
Invested capital: —
Tax rate: 23.8%