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.
Brookfield Infrastructure Partners LP
Physical assets are 54.7% of total assets, a heavy footprint. Capex is 1.42x 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. EBITDA after capex covers debt service by 0.50x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.33x.
Physical asset ratio
54.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.33x
Revenue per dollar of the physical asset base.
Capex / D&A
1.42x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$1.23
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
30.34x
Price $37.26.
Fixed-charge coverage
0.50x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.9%
Latest free cash flow divided by current market cap ($28.78B).
ROIC
6.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.08x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 35.4% | 0.36x | 1.05x | -$1.99 | 1.10x | $523.00M | 3.4% | 0.11x |
| 2019 | 41.3% | 0.29x | 0.94x | $2.89 | 0.80x | $999.00M | 2.7% | 0.07x |
| 2020 | 52.7% | 0.28x | 0.84x | $7.40 | 0.88x | $1.10B | 3.2% | 0.06x |
| 2021 | 53.7% | 0.29x | 0.97x | $7.19 | 1.06x | $790.00M | 4.0% | 0.07x |
| 2022 | 52.8% | 0.38x | 1.27x | $10.79 | 0.62x | $397.00M | 4.3% | 0.09x |
| 2023 | 53.0% | 0.34x | 0.91x | $8.02 | 0.53x | $1.59B | 5.4% | 0.08x |
| 2024 | 53.9% | 0.38x | 1.37x | $2.67 | 0.54x | -$322.00M | 7.2% | 0.09x |
| 2025 | 54.7% | 0.33x | 1.42x | $1.23 | 0.50x | $268.00M | 6.5% | 0.08x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $69.57B
Inventory: $583.00M
Total assets: $128.15B
Goodwill: $19.21B
Intangibles: $15.77B
Liabilities: $92.61B
Tangible book: $565.00M
Shares: 460,100,000
Revenue: $23.10B
Capex: $5.70B
D&A: $4.02B
EBITDA: $11.01B
Interest: $3.87B
Short-term debt: $6.75B
Free cash flow: $268.00M
Operating income: $5.80B
Invested capital: $72.40B
Tax rate: 18.9%