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.
Cameco Corp
Physical assets are 40.5% of total assets, a mixed footprint. Capex is 1.09x 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. ROIC is 6.6%, below an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 1.05x.
Physical asset ratio
40.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
1.05x
Revenue per dollar of the physical asset base.
Capex / D&A
1.09x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$15.77
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
7.31x
Price $115.30.
Fixed-charge coverage
10.58x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.0%
Latest free cash flow divided by current market cap ($50.22B).
ROIC
6.6%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.17x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 55.4% | 0.54x | 0.16x | $12.44 | 0.97x | $539.18M | 1.3% | 0.02x |
| 2019 | 55.6% | 0.50x | 0.26x | $12.46 | 5.46x | $379.33M | 1.1% | 0.02x |
| 2020 | 59.9% | 0.48x | 0.35x | $12.39 | 0.99x | -$86.12M | — | -0.02x |
| 2021 | 54.3% | 0.41x | 0.47x | $12.06 | -0.04x | $320.53M | — | -0.04x |
| 2022 | 49.8% | 0.54x | 0.63x | $14.22 | 1.31x | $122.30M | 0.3% | 0.00x |
| 2023 | 42.4% | 0.77x | 0.61x | $13.90 | 0.60x | $493.71M | 2.9% | 0.08x |
| 2024 | 43.0% | 0.95x | 0.75x | $14.51 | 1.37x | $604.84M | 4.8% | 0.16x |
| 2025 | 40.5% | 1.05x | 1.09x | $15.77 | 10.58x | $1.02B | 6.6% | 0.17x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $3.33B
Inventory: $843.99M
Total assets: $10.30B
Goodwill: $0.00
Intangibles: $36.16M
Liabilities: $3.40B
Tangible book: $6.87B
Shares: 435,579,956
Revenue: $3.48B
Capex: $333.03M
D&A: $305.13M
EBITDA: $1.16B
Interest: $74.52M
Short-term debt: $3.34M
Free cash flow: $1.02B
Operating income: $580.90M
Invested capital: $6.71B
Tax rate: 24.2%