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.
CoreWeave, Inc. Class A Common Stock
Physical assets are 78.7% of total assets, a heavy footprint. Capex is 4.20x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -0.99x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 0.13x.
Physical asset ratio
78.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.13x
Revenue per dollar of the physical asset base.
Capex / D&A
4.20x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$4.60
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
15.17x
Price $69.69.
Fixed-charge coverage
-0.99x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-18.9%
Latest free cash flow divided by current market cap ($38.44B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.00x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2022 | — | — | 6.19x | — | -9.14x | -$71.49M | — | — |
| 2023 | 79.3% | 0.06x | 28.57x | -$3.25 | -16.86x | -$1.11B | — | 0.00x |
| 2024 | 81.3% | 0.13x | 10.08x | -$2.01 | -2.91x | -$5.95B | — | 0.02x |
| 2025 | 78.7% | 0.13x | 4.20x | $4.60 | -0.99x | -$7.25B | — | 0.00x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $38.79B
Inventory: $0.00
Total assets: $49.30B
Goodwill: $1.10B
Intangibles: $235.00M
Liabilities: $45.97B
Tangible book: $2.00B
Shares: 435,000,000
Revenue: $5.13B
Capex: $10.31B
D&A: $2.45B
EBITDA: $2.47B
Interest: $1.23B
Short-term debt: $6.71B
Free cash flow: -$7.25B
Operating income: -$46.00M
Invested capital: $29.18B
Tax rate: —