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.
Bayer AG NA
Physical assets are 23.9% of total assets, a light footprint. Capex is 0.89x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by -0.09x, which is below 1.
Fixed-asset turnover is 3.60x. Compare it with other names in the same basket.
Physical asset ratio
23.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.60x
Revenue per dollar of the physical asset base.
Capex / D&A
0.89x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-€23.02
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price €44.11.
Fixed-charge coverage
-0.09x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
7.9%
Latest free cash flow divided by current market cap (€43.33B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.49x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 19.1% | 3.06x | 0.41x | -€30.82 | 1.70x | €5.32B | 0.3% | 0.02x |
| 2019 | 18.3% | 3.49x | 0.49x | -€26.79 | 2.11x | €5.56B | 4.7% | 0.36x |
| 2020 | 19.4% | 3.53x | 0.18x | -€31.97 | -0.49x | €2.49B | — | -0.06x |
| 2021 | 20.0% | 3.47x | 0.85x | -€33.79 | 0.92x | €2.48B | 6.2% | 0.54x |
| 2022 | 21.9% | 3.71x | 0.45x | -€25.35 | 1.11x | €4.14B | 8.9% | 0.54x |
| 2023 | 23.4% | 3.58x | 0.27x | -€22.99 | 1.19x | €2.37B | — | 0.60x |
| 2024 | 24.2% | 3.46x | 0.32x | -€20.44 | 0.83x | €4.59B | — | 0.25x |
| 2025 | 23.9% | 3.60x | 0.89x | -€23.02 | -0.09x | €3.44B | — | 0.49x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: €12.65B
Inventory: €12.34B
Total assets: €104.54B
Goodwill: €28.06B
Intangibles: €20.62B
Liabilities: €78.48B
Tangible book: -€22.62B
Shares: 982,424,082
Revenue: €45.58B
Capex: €2.49B
D&A: €2.79B
EBITDA: €1.92B
Interest: €2.27B
Short-term debt: €4.39B
Free cash flow: €3.44B
Operating income: €6.14B
Invested capital: €54.44B
Tax rate: —