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.
Chartwell Retirement Residences
Physical assets are 92.5% of total assets, a heavy footprint. Capex is 0.61x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.42x, which is below 1.
Real estate revenue is mostly rent, so fixed-asset turnover often sits around 0.05x to 0.15x. This name is at 0.24x.
Physical asset ratio
92.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.24x
Revenue per dollar of the physical asset base.
Capex / D&A
0.61x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$5.76
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.47x
Price $20.00.
Fixed-charge coverage
0.42x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.2%
Latest free cash flow divided by current market cap ($6.60B).
ROIC
1.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.03x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 92.6% | 0.28x | 1.16x | $4.11 | 0.27x | $18.74M | 5.3% | 0.09x |
| 2019 | 93.0% | 0.28x | 1.10x | $3.53 | 0.29x | -$2.64M | 5.2% | 0.09x |
| 2020 | 91.7% | 0.29x | 0.74x | $3.04 | 0.45x | $52.23M | 8.3% | 0.08x |
| 2021 | 91.8% | 0.21x | 0.69x | $3.36 | 0.25x | $40.98M | 5.5% | 0.06x |
| 2022 | 95.5% | 0.22x | 0.70x | $3.12 | 0.19x | $26.35M | 4.2% | 0.06x |
| 2023 | 92.5% | 0.27x | 0.82x | $3.21 | 0.16x | $28.18M | — | 0.07x |
| 2024 | 85.5% | 0.25x | 0.64x | $4.04 | 0.23x | $93.58M | 4.8% | 0.08x |
| 2025 | 92.5% | 0.24x | 0.61x | $5.76 | 0.42x | $143.98M | 1.7% | 0.03x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is the current portion of debt.
- The effective tax rate was above 40% and was capped at 40% for ROIC.
Latest year inputs (2025)
Net PP&E: $4.68B
Inventory: $0.00
Total assets: $5.06B
Goodwill: $9.23M
Intangibles: $11.04M
Liabilities: $3.35B
Tangible book: $1.69B
Shares: 293,288,000
Revenue: $1.11B
Capex: $150.04M
D&A: $247.25M
EBITDA: $446.54M
Interest: $125.06M
Short-term debt: $579.97M
Free cash flow: $143.98M
Operating income: $130.24M
Invested capital: $4.59B
Tax rate: 40.0%