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.
Global Payments Inc
Physical assets are 2.8% of total assets, a light footprint. Capex is 0.44x 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 0.97x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 5.13x.
Physical asset ratio
2.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.13x
Revenue per dollar of the physical asset base.
Capex / D&A
0.44x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$10.29
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
8.18x
Price $84.18.
Fixed-charge coverage
0.97x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
9.2%
Latest free cash flow divided by current market cap ($22.27B).
ROIC
3.3%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.98x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 4.9% | 5.15x | 0.41x | -$29.16 | 1.06x | $892.79M | 7.9% | 1.21x |
| 2019 | 3.1% | 3.55x | 0.33x | -$44.49 | 1.81x | $1.08B | 2.6% | 0.76x |
| 2020 | 3.6% | 4.70x | 0.24x | -$27.95 | 1.47x | $1.88B | 3.1% | 0.77x |
| 2021 | 3.7% | 5.05x | 0.26x | -$36.02 | 3.06x | $2.29B | 4.2% | 1.04x |
| 2022 | 4.4% | 4.88x | 0.35x | -$37.88 | 0.77x | $1.63B | 3.4% | 1.08x |
| 2023 | 5.0% | 3.81x | 0.35x | -$50.15 | 1.36x | $1.59B | 4.8% | 0.87x |
| 2024 | 5.5% | 3.95x | 0.34x | -$47.88 | 1.74x | $2.86B | 5.3% | 0.89x |
| 2025 | 2.8% | 5.13x | 0.44x | $10.29 | 0.97x | $2.04B | 3.3% | 0.98x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $1.50B
Inventory: $0.00
Total assets: $53.34B
Goodwill: $17.08B
Intangibles: $4.23B
Liabilities: $29.56B
Tangible book: $2.47B
Shares: 240,174,000
Revenue: $7.71B
Capex: $617.77M
D&A: $1.42B
EBITDA: $3.45B
Interest: $649.64M
Short-term debt: $2.27B
Free cash flow: $2.04B
Operating income: $1.47B
Invested capital: $36.42B
Tax rate: 18.2%