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.
Endesa SA
Physical assets are 69.1% of total assets, a heavy footprint. Capex is 0.90x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 14.1%, above an 8% cost-of-capital hurdle.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.88x.
Physical asset ratio
69.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.88x
Revenue per dollar of the physical asset base.
Capex / D&A
0.90x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€7.16
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
5.95x
Price €42.58.
Fixed-charge coverage
2.57x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.1%
Latest free cash flow divided by current market cap (€43.21B).
ROIC
14.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.15x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 73.6% | 0.90x | 0.83x | €6.95 | 2.16x | €995.00M | 14.6% | 0.09x |
| 2019 | 70.4% | 0.90x | 0.53x | €5.67 | 1.83x | €1.36B | 3.1% | 0.02x |
| 2020 | 70.0% | 0.78x | 0.90x | €5.29 | 1.60x | €1.25B | 11.5% | 0.09x |
| 2021 | 58.6% | 0.93x | 0.90x | €3.34 | 0.70x | €539.00M | 10.4% | 0.09x |
| 2022 | 48.9% | 1.46x | 1.29x | €3.46 | 0.47x | -€460.00M | 25.7% | 0.26x |
| 2023 | 60.3% | 1.10x | 1.29x | €4.81 | 0.23x | €2.41B | 20.9% | 0.22x |
| 2024 | 66.3% | 0.91x | 0.97x | €6.65 | 3.03x | €1.72B | 17.2% | 0.18x |
| 2025 | 69.1% | 0.88x | 0.90x | €7.16 | 2.57x | €2.21B | 14.1% | 0.15x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: €23.83B
Inventory: €2.05B
Total assets: €37.48B
Goodwill: €607.00M
Intangibles: €1.42B
Liabilities: €27.87B
Tangible book: €7.58B
Shares: 1,058,767,000
Revenue: €21.02B
Capex: €1.84B
D&A: €2.06B
EBITDA: €5.31B
Interest: €431.00M
Short-term debt: €917.00M
Free cash flow: €2.21B
Operating income: €3.53B
Invested capital: €19.15B
Tax rate: 23.4%