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.
Dollar Tree Inc
Physical assets are 88.3% of total assets, a heavy footprint. Capex is 1.75x 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 22.7%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 2.07x. Compare it with other names in the same basket.
Physical asset ratio
88.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2.07x
Revenue per dollar of the physical asset base.
Capex / D&A
1.75x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$16.15
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
7.70x
Price $124.41.
Fixed-charge coverage
1.13x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
6.0%
Latest free cash flow divided by current market cap ($23.34B).
ROIC
22.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.18x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 51.7% | 6.62x | 1.32x | -$0.18 | -2.58x | $948.90M | — | -0.27x |
| 2020 | 69.6% | 2.34x | 1.61x | $4.92 | 2.11x | $833.10M | 10.0% | 0.12x |
| 2021 | 67.0% | 2.44x | 1.31x | $9.27 | 0.59x | $1.82B | 16.0% | 0.18x |
| 2022 | 70.3% | 2.41x | 1.43x | $11.50 | 0.50x | $408.70M | 14.5% | 0.17x |
| 2023 | 73.3% | 1.35x | 1.63x | $16.37 | 0.53x | $361.00M | 13.9% | 0.18x |
| 2024 | 80.6% | 1.33x | 5.26x | $19.36 | 0.04x | $576.90M | 13.4% | 0.14x |
| 2025 | 60.7% | 2.03x | 2.47x | $16.47 | 0.65x | $1.56B | 17.9% | 0.17x |
| 2026 | 88.3% | 2.07x | 1.75x | $16.15 | 1.13x | $1.40B | 22.7% | 0.18x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2026)
Net PP&E: $9.39B
Inventory: $2.50B
Total assets: $13.47B
Goodwill: $423.20M
Intangibles: $0.00
Liabilities: $9.71B
Tangible book: $3.33B
Shares: 206,300,000
Revenue: $19.41B
Capex: $1.13B
D&A: $648.10M
EBITDA: $2.36B
Interest: $85.50M
Short-term debt: $1.00B
Free cash flow: $1.40B
Operating income: $1.65B
Invested capital: $5.47B
Tax rate: 24.8%