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.
Hexagon AB (publ)
Physical assets are 7.6% of total assets, a light 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 0.63x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 7.31x.
Physical asset ratio
7.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
7.31x
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
-SEK 0.68
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price SEK 105.25.
Fixed-charge coverage
0.63x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.4%
Latest free cash flow divided by current market cap (SEK 282.53B).
ROIC
5.4%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.25x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 8.7% | 9.79x | 1.38x | -SEK 0.70 | 1.81x | SEK 561.10M | 10.4% | 2.41x |
| 2019 | 10.5% | 5.52x | 1.06x | -SEK 0.61 | 1.93x | SEK 651.80M | 9.0% | 1.26x |
| 2020 | 9.9% | 5.49x | 0.74x | -SEK 0.77 | 2.00x | SEK 909.90M | 7.9% | 1.15x |
| 2021 | 8.4% | 5.88x | 0.73x | -SEK 0.82 | 1.92x | SEK 898.70M | 7.4% | 1.37x |
| 2022 | 8.4% | 6.52x | 1.22x | -SEK 1.09 | 1.77x | SEK 763.30M | 7.9% | 1.63x |
| 2023 | 8.5% | 6.79x | 1.11x | -SEK 0.67 | 0.96x | SEK 743.80M | 7.4% | 1.52x |
| 2024 | 8.1% | 6.72x | 1.09x | -SEK 0.95 | 1.62x | SEK 955.90M | 8.2% | 1.78x |
| 2025 | 7.6% | 7.31x | 0.76x | -SEK 0.68 | 0.63x | SEK 1.02B | 5.4% | 1.25x |
- 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: SEK 741.60M
Inventory: SEK 565.20M
Total assets: SEK 17.11B
Goodwill: SEK 8.97B
Intangibles: SEK 3.13B
Liabilities: SEK 6.85B
Tangible book: -SEK 1.84B
Shares: 2,705,478,000
Revenue: SEK 5.42B
Capex: SEK 598.00M
D&A: SEK 791.20M
EBITDA: SEK 1.73B
Interest: SEK 145.60M
Short-term debt: SEK 1.64B
Free cash flow: SEK 1.02B
Operating income: SEK 924.40M
Invested capital: SEK 13.58B
Tax rate: 21.0%