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.
Globus Medical
Physical assets are 26.2% of total assets, a light footprint. Capex is 0.59x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 10.2%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 4.68x. Compare it with other names in the same basket.
Physical asset ratio
26.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.68x
Revenue per dollar of the physical asset base.
Capex / D&A
0.59x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$17.44
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
4.52x
Price $78.87.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.7%
Latest free cash flow divided by current market cap ($10.25B).
ROIC
10.2%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.76x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 23.3% | 4.15x | 1.43x | $9.62 | 8.93x | $121.95M | — | 0.99x |
| 2019 | 26.0% | 3.88x | 1.34x | $11.71 | 1.72x | $101.23M | 12.9% | 0.85x |
| 2020 | 26.6% | 3.64x | 1.01x | $12.50 | 1.12x | $135.14M | 8.3% | 0.51x |
| 2021 | 23.4% | 4.33x | 0.81x | $14.41 | 2.00x | $219.38M | 10.9% | 0.78x |
| 2022 | 26.1% | 4.20x | 1.08x | $15.45 | 13.74x | $104.42M | 12.7% | 0.94x |
| 2023 | 29.4% | 2.42x | 0.54x | $14.30 | 8.36x | $165.23M | 2.5% | 0.21x |
| 2024 | 24.2% | 4.12x | 0.45x | $14.14 | 0.80x | $405.21M | 3.7% | 0.27x |
| 2025 | 26.2% | 4.68x | 0.59x | $17.44 | — | $588.77M | 10.2% | 0.76x |
- 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 short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $628.24M
Inventory: $759.28M
Total assets: $5.30B
Goodwill: $1.44B
Intangibles: $745.06M
Liabilities: $729.51M
Tangible book: $2.39B
Shares: 137,219,388
Revenue: $2.94B
Capex: $164.68M
D&A: $276.84M
EBITDA: $886.74M
Interest: —
Short-term debt: $14.74M
Free cash flow: $588.77M
Operating income: $479.80M
Invested capital: $4.13B
Tax rate: 11.8%