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.
Broadcom Inc
Physical assets are 2.8% of total assets, a light footprint. Capex is 0.07x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 19.6%, 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 25.25x.
Physical asset ratio
2.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
25.25x
Revenue per dollar of the physical asset base.
Capex / D&A
0.07x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$10.05
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $328.75.
Fixed-charge coverage
5.36x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.7%
Latest free cash flow divided by current market cap ($1,569.33B).
ROIC
19.6%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 10.07x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 7.5% | 7.91x | 0.16x | -$2.56 | 7.29x | $8.25B | 12.9% | 1.95x |
| 2019 | 5.1% | 8.81x | 0.07x | -$6.99 | 2.13x | $9.27B | 6.5% | 1.34x |
| 2020 | 5.4% | 7.71x | 0.07x | -$8.63 | 4.09x | $11.60B | 7.0% | 1.30x |
| 2021 | 4.8% | 11.69x | 0.07x | -$6.95 | 6.55x | $13.32B | 16.1% | 3.63x |
| 2022 | 5.7% | 14.94x | 0.09x | -$6.62 | 8.60x | $16.31B | 26.4% | 6.40x |
| 2023 | 5.6% | 16.63x | 0.12x | -$5.51 | 6.22x | $17.63B | 30.8% | 7.52x |
| 2024 | 2.6% | 20.46x | 0.05x | -$14.81 | 4.49x | $19.41B | 6.7% | 5.34x |
| 2025 | 2.8% | 25.25x | 0.07x | -$10.05 | 5.36x | $26.91B | 19.6% | 10.07x |
- 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: $2.53B
Inventory: $2.27B
Total assets: $171.09B
Goodwill: $97.80B
Intangibles: $32.27B
Liabilities: $89.80B
Tangible book: -$48.78B
Shares: 4,853,000,000
Revenue: $63.89B
Capex: $623.00M
D&A: $8.78B
EBITDA: $34.71B
Interest: $3.21B
Short-term debt: $3.15B
Free cash flow: $26.91B
Operating income: $25.48B
Invested capital: $130.25B
Tax rate: 0.0%