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.
Conagra Brands, Inc.
Physical assets are 27.6% of total assets, a light footprint. Capex is 1.07x 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 -1.39x, which is below 1.
Fixed-asset turnover is 3.94x. Compare it with other names in the same basket.
Physical asset ratio
27.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.94x
Revenue per dollar of the physical asset base.
Capex / D&A
1.07x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$7.50
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $14.18.
Fixed-charge coverage
-1.39x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
14.8%
Latest free cash flow divided by current market cap ($6.61B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.57x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 17.8% | 3.98x | 1.06x | -$19.10 | 3.01x | $772.40M | 5.0% | 0.49x |
| 2020 | 16.8% | 4.63x | 0.95x | -$15.79 | 1.11x | $1.47B | 6.8% | 0.61x |
| 2021 | 20.3% | 4.00x | 1.31x | -$14.01 | 1.49x | $961.70M | 8.8% | 0.64x |
| 2022 | 21.0% | 4.21x | 1.24x | -$13.12 | 1.16x | $712.90M | 5.7% | 0.49x |
| 2023 | 22.6% | 4.43x | 0.98x | -$11.43 | 0.52x | $633.20M | 4.5% | 0.39x |
| 2024 | 24.2% | 3.92x | 0.97x | -$8.96 | 0.76x | $1.63B | 3.0% | 0.28x |
| 2025 | 24.3% | 3.81x | 1.00x | -$8.34 | 0.70x | $1.30B | 8.0% | 0.45x |
| 2026 | 27.6% | 3.94x | 1.07x | -$7.50 | -1.39x | $978.70M | — | -0.57x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2026)
Net PP&E: $2.86B
Inventory: $1.91B
Total assets: $17.27B
Goodwill: $8.12B
Intangibles: $1.83B
Liabilities: $10.92B
Tangible book: -$3.59B
Shares: 479,000,000
Revenue: $11.28B
Capex: $423.40M
D&A: $396.00M
EBITDA: -$1.23B
Interest: $382.60M
Short-term debt: $812.40M
Free cash flow: $978.70M
Operating income: -$1.63B
Invested capital: $13.41B
Tax rate: —