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.
Computershare Ltd ADR
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 0.20x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Fixed-asset turnover is 11.78x. Compare it with other names in the same basket.
Physical asset ratio
5.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
11.78x
Revenue per dollar of the physical asset base.
Capex / D&A
0.20x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$3.80
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $28.66.
Fixed-charge coverage
7.59x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
4.9%
Latest free cash flow divided by current market cap ($16.37B).
ROIC
26.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 3.23x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 4.3% | 17.14x | 0.56x | -$1.86 | 4.08x | $207.33M | 14.5% | 3.43x |
| 2020 | 8.5% | 7.83x | 0.17x | -$2.10 | 1.20x | $573.97M | 10.6% | 1.38x |
| 2021 | 8.0% | 5.54x | 0.09x | -$1.33 | 1.36x | $284.91M | 6.3% | 0.85x |
| 2022 | 5.1% | 8.40x | 0.40x | -$0.91 | 0.70x | $386.06M | 8.6% | 1.34x |
| 2023 | 4.8% | 9.71x | 0.40x | -$1.90 | 1.07x | $488.40M | 18.6% | 3.19x |
| 2024 | 3.7% | 15.68x | 0.65x | $0.14 | 4.38x | $446.26M | 32.6% | 5.11x |
| 2025 | 5.1% | 8.35x | 0.26x | -$0.82 | 2.77x | $780.08M | 18.8% | 2.42x |
| 2026 | 5.5% | 11.78x | 0.20x | -$3.80 | 7.59x | $804.78M | 26.5% | 3.23x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2026)
Net PP&E: $274.60M
Inventory: $0.00
Total assets: $4.97B
Goodwill: $1.95B
Intangibles: $2.54B
Liabilities: $2.68B
Tangible book: -$2.20B
Shares: 579,737,415
Revenue: $3.23B
Capex: $35.56M
D&A: $174.40M
EBITDA: $886.44M
Interest: $82.97M
Short-term debt: $29.20M
Free cash flow: $804.78M
Operating income: $886.44M
Invested capital: $2.44B
Tax rate: 27.0%