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.
Great-West Lifeco Inc.
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.00x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Fixed-asset turnover is 26.10x. Compare it with other names in the same basket.
Physical asset ratio
0.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
26.10x
Revenue per dollar of the physical asset base.
Capex / D&A
0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$16.80
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
5.46x
Price $91.72.
Fixed-charge coverage
5.49x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.3%
Latest free cash flow divided by current market cap ($82.11B).
ROIC
28.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 3.13x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -4.2% | 37.35x | 6.30x | $17.06 | 1.76x | $4.56B | 11.3% | 2.94x |
| 2019 | -4.0% | 27.15x | 1.53x | $16.02 | 2.64x | $5.47B | 10.0% | 1.75x |
| 2020 | -5.2% | 37.78x | 0.00x | $13.61 | 2.21x | $9.61B | 11.2% | 1.92x |
| 2021 | -4.6% | 41.66x | 0.00x | $17.07 | 5.01x | $10.37B | 17.6% | 2.50x |
| 2022 | -3.7% | -1.80x | 0.00x | $16.63 | 3.21x | $7.05B | 17.1% | 2.72x |
| 2023 | -3.9% | 26.73x | 0.00x | $15.12 | 4.63x | $5.20B | -19.2% | -2.43x |
| 2024 | 0.2% | 24.01x | 0.00x | $15.79 | 6.41x | $4.75B | -11.7% | -1.43x |
| 2025 | 0.2% | 26.10x | 0.00x | $16.80 | 5.49x | $2.71B | 28.0% | 3.13x |
- Inventory was missing and treated as zero in the physical asset ratio.
- 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: $1.50B
Inventory: $0.00
Total assets: $862.83B
Goodwill: $11.28B
Intangibles: $6.12B
Liabilities: $829.83B
Tangible book: $15.60B
Shares: 928,768,306
Revenue: $39.10B
Capex: $0.00
D&A: $579.00M
EBITDA: $5.64B
Interest: $379.00M
Short-term debt: $648.00M
Free cash flow: $2.71B
Operating income: $4.70B
Invested capital: $14.88B
Tax rate: 11.4%