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.
Banco Bilbao Vizcaya Argentaria SA
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.54x 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 0.15x, which is below 1.
Fixed-asset turnover is 3.99x. Compare it with other names in the same basket.
Physical asset ratio
1.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.99x
Revenue per dollar of the physical asset base.
Capex / D&A
0.54x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€10.25
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.26x
Price €23.18.
Fixed-charge coverage
0.15x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
92.0%
Latest free cash flow divided by current market cap (€127.49B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.76x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -17.6% | 3.34x | 1.45x | €6.71 | 0.13x | €7.17B | — | 1.07x |
| 2019 | -15.5% | 2.35x | 1.00x | €7.21 | 0.13x | -€9.59B | — | 0.71x |
| 2020 | -30.0% | 2.58x | 0.87x | €6.73 | 0.44x | €38.23B | — | 0.61x |
| 2021 | -20.6% | 4.36x | 0.77x | €7.27 | 0.52x | -€2.19B | — | 1.01x |
| 2022 | -20.3% | 2.93x | 1.84x | €7.81 | 0.13x | €21.28B | — | 1.18x |
| 2023 | -31.7% | 6.29x | 1.30x | €8.93 | 0.10x | -€2.54B | — | 1.34x |
| 2024 | 1.2% | 3.73x | 0.78x | €9.97 | 0.15x | €32.74B | 158.7% | 1.62x |
| 2025 | 1.1% | 3.99x | 0.54x | €10.25 | 0.15x | €117.30B | — | 1.76x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: €9.25B
Inventory: €0.00
Total assets: €859.58B
Goodwill: €715.00M
Intangibles: €2.14B
Liabilities: €797.78B
Tangible book: €58.94B
Shares: 5,748,000,000
Revenue: €36.93B
Capex: €827.00M
D&A: €1.52B
EBITDA: €17.75B
Interest: €32.07B
Short-term debt: €79.31B
Free cash flow: €117.30B
Operating income: €16.23B
Invested capital: —
Tax rate: 31.4%