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.
Ferrovial S.A.
Physical assets are 6.7% of total assets, a light footprint. Capex is 0.38x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 7.8%, below an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 7.36x.
Physical asset ratio
6.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
7.36x
Revenue per dollar of the physical asset base.
Capex / D&A
0.38x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€9.91
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
4.46x
Price €44.20.
Fixed-charge coverage
1.20x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
4.5%
Latest free cash flow divided by current market cap (€31.81B).
ROIC
7.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.74x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 3.7% | 22.86x | 1.42x | €6.12 | 0.50x | €663.00M | 3.8% | 1.41x |
| 2019 | 4.7% | 14.18x | 1.12x | €6.53 | -0.06x | €976.00M | -0.7% | -0.14x |
| 2020 | 5.1% | 13.67x | 0.50x | €4.77 | 0.15x | €977.00M | — | 0.36x |
| 2021 | 3.7% | 13.71x | 0.46x | €7.23 | 1.03x | €686.00M | 3.6% | 0.67x |
| 2022 | 4.3% | 11.41x | 0.32x | €7.93 | 0.67x | €907.00M | 2.9% | 0.54x |
| 2023 | 4.7% | 10.78x | 0.21x | -€11.06 | 1.02x | €1.18B | 5.7% | 0.81x |
| 2024 | 5.2% | 9.06x | 0.51x | €10.34 | 2.58x | €1.07B | 6.5% | 0.86x |
| 2025 | 6.7% | 7.36x | 0.38x | €9.91 | 1.20x | €1.43B | 7.8% | 0.74x |
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: €1.31B
Inventory: €540.00M
Total assets: €27.42B
Goodwill: €412.00M
Intangibles: €127.00M
Liabilities: €19.76B
Tangible book: €7.13B
Shares: 718,716,000
Revenue: €9.63B
Capex: €187.00M
D&A: €490.00M
EBITDA: €2.00B
Interest: €438.00M
Short-term debt: €1.07B
Free cash flow: €1.43B
Operating income: €967.00M
Invested capital: €12.40B
Tax rate: 0.0%