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.
Edison International
Physical assets are 69.2% of total assets, a heavy footprint. Capex is 2.01x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by 0.37x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.30x.
Physical asset ratio
69.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.30x
Revenue per dollar of the physical asset base.
Capex / D&A
2.01x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$50.02
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.13x
Price $56.55.
Fixed-charge coverage
0.37x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-3.3%
Latest free cash flow divided by current market cap ($21.41B).
ROIC
9.2%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.11x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 73.4% | 0.31x | 2.32x | $38.81 | -1.91x | -$1.33B | — | -0.01x |
| 2019 | 70.4% | 0.27x | 2.71x | $45.44 | -0.59x | -$5.18B | 5.4% | 0.04x |
| 2020 | 71.1% | 0.28x | 2.71x | $42.64 | -0.46x | -$4.22B | 3.2% | 0.02x |
| 2021 | 71.0% | 0.28x | 2.41x | $46.81 | -0.35x | -$5.49B | 3.3% | 0.03x |
| 2022 | 71.0% | 0.31x | 2.19x | $45.75 | -0.23x | -$2.56B | 3.1% | 0.03x |
| 2023 | 70.7% | 0.29x | 2.00x | $46.61 | 0.07x | -$2.05B | 4.8% | 0.05x |
| 2024 | 71.2% | 0.29x | 1.94x | $45.72 | 0.14x | -$693.00M | 5.5% | 0.05x |
| 2025 | 69.2% | 0.30x | 2.01x | $50.02 | 0.37x | -$715.00M | 9.2% | 0.11x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $64.49B
Inventory: $535.00M
Total assets: $94.03B
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $74.77B
Tangible book: $19.26B
Shares: 385,000,000
Revenue: $19.32B
Capex: $6.52B
D&A: $3.24B
EBITDA: $8.71B
Interest: $1.54B
Short-term debt: $4.32B
Free cash flow: -$715.00M
Operating income: $7.09B
Invested capital: $60.01B
Tax rate: 22.5%