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.
ASML Holding N.V.
Physical assets are 38.9% of total assets, a mixed footprint. Capex is 2.64x 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 92.8%, 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 3.97x.
Physical asset ratio
38.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.97x
Revenue per dollar of the physical asset base.
Capex / D&A
2.64x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
BRL 37.31
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
4.08x
Price BRL 152.35.
Fixed-charge coverage
83.18x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.3%
Latest free cash flow divided by current market cap (BRL 3,249.52B).
ROIC
92.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.46x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 25.7% | 6.34x | 1.36x | BRL 14.24 | 67.32x | BRL 2.46B | 22.6% | 1.72x |
| 2019 | 27.1% | 5.09x | 1.71x | BRL 16.55 | 67.56x | BRL 2.39B | 21.3% | 1.20x |
| 2020 | 27.1% | 4.97x | 1.96x | BRL 19.66 | 82.50x | BRL 3.63B | 31.2% | 1.44x |
| 2021 | 27.5% | 5.91x | 1.91x | BRL 11.51 | 115.94x | BRL 9.91B | 77.7% | 2.08x |
| 2022 | 29.2% | 5.12x | 3.79x | BRL 8.52 | 80.40x | BRL 7.17B | 77.1% | 1.77x |
| 2023 | 36.7% | 4.75x | 2.97x | BRL 20.64 | 50.95x | BRL 3.25B | 71.2% | 1.64x |
| 2024 | 37.3% | 3.91x | 3.49x | BRL 33.73 | 42.55x | BRL 9.08B | 77.9% | 1.37x |
| 2025 | 38.9% | 3.97x | 2.64x | BRL 37.31 | 83.18x | BRL 11.03B | 92.8% | 1.46x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: BRL 8.23B
Inventory: BRL 11.43B
Total assets: BRL 50.57B
Goodwill: BRL 4.59B
Intangibles: BRL 540.10M
Liabilities: BRL 30.95B
Tangible book: BRL 14.48B
Shares: 388,147,674
Revenue: BRL 32.67B
Capex: BRL 2.71B
D&A: BRL 1.03B
EBITDA: BRL 12.55B
Interest: BRL 118.30M
Short-term debt: BRL 0.00
Free cash flow: BRL 11.03B
Operating income: BRL 12.05B
Invested capital: BRL 10.68B
Tax rate: 17.8%