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.
Herbalife Nutrition Ltd
Physical assets are 40.5% of total assets, a mixed footprint. Capex is 0.66x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 24.9%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 8.18x. Compare it with other names in the same basket.
Physical asset ratio
40.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
8.18x
Revenue per dollar of the physical asset base.
Capex / D&A
0.66x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$8.93
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $14.58.
Fixed-charge coverage
2.25x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
17.2%
Latest free cash flow divided by current market cap ($1.47B).
ROIC
24.9%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.72x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 26.6% | 13.59x | 0.84x | -$7.53 | 0.81x | $564.40M | 82.1% | 1.90x |
| 2019 | 37.2% | 8.69x | 1.09x | -$5.59 | 3.23x | $351.40M | 50.1% | 1.01x |
| 2020 | 36.2% | 9.04x | 1.12x | -$9.44 | 4.09x | $516.60M | 60.1% | 1.05x |
| 2021 | 43.9% | 8.76x | 1.41x | -$16.66 | 3.68x | $308.90M | 57.8% | 1.11x |
| 2022 | 46.6% | 7.51x | 1.36x | -$16.83 | 3.11x | $196.10M | 35.9% | 0.79x |
| 2023 | 42.6% | 7.31x | 1.19x | -$14.67 | 0.73x | $222.50M | 22.0% | 0.51x |
| 2024 | 41.1% | 7.73x | 1.00x | -$11.82 | 0.77x | $163.40M | 30.8% | 0.60x |
| 2025 | 40.5% | 8.18x | 0.66x | -$8.93 | 2.25x | $252.90M | 24.9% | 0.72x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $616.00M
Inventory: $511.70M
Total assets: $2.79B
Goodwill: $100.50M
Intangibles: $315.10M
Liabilities: $3.30B
Tangible book: -$925.00M
Shares: 103,600,000
Revenue: $5.04B
Capex: $80.40M
D&A: $121.20M
EBITDA: $610.70M
Interest: $214.40M
Short-term debt: $20.90M
Free cash flow: $252.90M
Operating income: $441.50M
Invested capital: $1.47B
Tax rate: 17.0%