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.
Flowers Foods Inc
Physical assets are 37.6% of total assets, a mixed footprint. Capex is 0.76x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.48x, which is below 1.
Fixed-asset turnover is 4.13x. Compare it with other names in the same basket.
Physical asset ratio
37.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.13x
Revenue per dollar of the physical asset base.
Capex / D&A
0.76x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$3.44
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $6.11.
Fixed-charge coverage
0.48x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
24.6%
Latest free cash flow divided by current market cap ($1.30B).
ROIC
3.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.14x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 32.7% | 5.31x | 0.69x | -$0.39 | 4.86x | $196.47M | 7.5% | 0.29x |
| 2019 | 41.3% | 3.69x | 0.72x | -$0.15 | 5.17x | $263.27M | 6.9% | 0.20x |
| 2020 | 36.9% | 4.25x | 0.69x | $0.53 | 5.08x | $356.54M | 10.2% | 0.31x |
| 2021 | 39.8% | 3.97x | 1.07x | $0.80 | 6.01x | $198.45M | 9.2% | 0.27x |
| 2022 | 41.3% | 4.27x | 1.19x | $1.10 | 6.41x | $191.82M | 9.4% | 0.27x |
| 2023 | 44.1% | 4.11x | 0.85x | $0.08 | 3.95x | $220.28M | 5.1% | 0.14x |
| 2024 | 45.5% | 3.98x | 0.83x | $0.49 | 7.62x | $280.58M | 9.5% | 0.27x |
| 2025 | 37.6% | 4.13x | 0.76x | -$3.44 | 0.48x | $319.09M | 3.8% | 0.14x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $1.27B
Inventory: $299.22M
Total assets: $4.18B
Goodwill: $1.05B
Intangibles: $984.66M
Liabilities: $2.88B
Tangible book: -$728.95M
Shares: 212,107,000
Revenue: $5.26B
Capex: $127.11M
D&A: $167.43M
EBITDA: $359.16M
Interest: $76.67M
Short-term debt: $403.21M
Free cash flow: $319.09M
Operating income: $173.98M
Invested capital: $3.38B
Tax rate: 27.2%