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.
Bankinter
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 0.38x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by 0.98x, which is below 1.
Fixed-asset turnover is 10.09x. Compare it with other names in the same basket.
Physical asset ratio
0.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
10.09x
Revenue per dollar of the physical asset base.
Capex / D&A
0.38x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€6.31
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.41x
Price €15.23.
Fixed-charge coverage
0.98x
EBITDA minus capex, divided by interest only.
FCF yield
-72.7%
Latest free cash flow divided by current market cap (€13.69B).
ROIC
64.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 3.50x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -14.2% | 5.60x | 1.44x | €4.66 | 2.72x | €86.65M | 7.9% | 1.78x |
| 2019 | -10.0% | 3.68x | 1.79x | €4.91 | 2.66x | €11.20M | 8.9% | 1.14x |
| 2020 | -18.3% | 4.37x | 1.15x | €5.24 | 1.58x | €8.45B | — | 0.51x |
| 2021 | -22.7% | 4.83x | 0.87x | €5.10 | 3.20x | €6.98B | — | 1.19x |
| 2022 | -14.8% | 5.57x | 0.90x | €5.15 | 0.36x | -€8.11B | 4.0% | 1.75x |
| 2023 | 11.6% | 10.32x | 1.10x | €5.59 | 0.12x | €568.04M | 9.0% | 2.90x |
| 2024 | 0.4% | 11.76x | 1.73x | €6.18 | 0.10x | €1.79B | — | 3.07x |
| 2025 | 0.4% | 10.09x | 0.38x | €6.31 | 0.98x | -€9.95B | 64.7% | 3.50x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
Latest year inputs (2025)
Net PP&E: €466.83M
Inventory: €0.00
Total assets: €131.02B
Goodwill: €370.91M
Intangibles: €368.63M
Liabilities: €124.61B
Tangible book: €5.67B
Shares: 898,677,068
Revenue: €4.71B
Capex: €34.75M
D&A: €90.36M
EBITDA: €1.64B
Interest: €1.63B
Short-term debt: —
Free cash flow: -€9.95B
Operating income: €1.64B
Invested capital: €1.80B
Tax rate: 29.0%