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.
Danaher Corporation
Physical assets are 9.6% of total assets, a light footprint. Capex is 0.47x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 6.0%, below an 8% cost-of-capital hurdle.
Fixed-asset turnover is 4.44x. Compare it with other names in the same basket.
Physical asset ratio
9.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.44x
Revenue per dollar of the physical asset base.
Capex / D&A
0.47x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-BRL 11.93
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price BRL 42.39.
Fixed-charge coverage
21.85x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.6%
Latest free cash flow divided by current market cap (BRL 827.50B).
ROIC
6.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.85x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 9.2% | 6.79x | 0.50x | -BRL 13.35 | 19.61x | BRL 3.37B | 6.7% | 1.22x |
| 2019 | 7.6% | 5.84x | 0.53x | -BRL 3.15 | 12.36x | BRL 3.32B | 7.5% | 1.06x |
| 2020 | 8.5% | 5.30x | 0.45x | -BRL 23.82 | 20.92x | BRL 5.42B | 6.9% | 1.11x |
| 2021 | 9.1% | 6.10x | 0.60x | -BRL 26.38 | 36.60x | BRL 7.06B | 9.6% | 1.55x |
| 2022 | 9.6% | 6.35x | 0.52x | -BRL 13.69 | 45.37x | BRL 7.37B | 11.8% | 1.75x |
| 2023 | 9.7% | 4.26x | 0.60x | -BRL 11.99 | 21.63x | BRL 6.78B | 6.6% | 0.93x |
| 2024 | 10.8% | 3.93x | 0.59x | -BRL 13.23 | 21.17x | BRL 5.30B | 6.4% | 0.80x |
| 2025 | 9.6% | 4.44x | 0.47x | -BRL 11.93 | 21.85x | BRL 5.26B | 6.0% | 0.85x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: BRL 5.53B
Inventory: BRL 2.49B
Total assets: BRL 83.46B
Goodwill: BRL 43.15B
Intangibles: BRL 17.82B
Liabilities: BRL 30.93B
Tangible book: -BRL 8.43B
Shares: 706,900,000
Revenue: BRL 24.57B
Capex: BRL 1.16B
D&A: BRL 2.45B
EBITDA: BRL 6.95B
Interest: BRL 265.00M
Short-term debt: BRL 0.00
Free cash flow: BRL 5.26B
Operating income: BRL 4.71B
Invested capital: BRL 66.34B
Tax rate: 15.0%