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.
Robinhood Markets 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 0.63x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Fixed-asset turnover is 29.05x. Compare it with other names in the same basket.
Physical asset ratio
0.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
29.05x
Revenue per dollar of the physical asset base.
Capex / D&A
0.63x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$9.36
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
11.11x
Price $103.99.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.7%
Latest free cash flow divided by current market cap ($90.88B).
ROIC
18.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 13.60x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 1.5% | 4.91x | 2.29x | -$0.11 | -0.17x | $1.25B | — | -1.89x |
| 2020 | 8.2% | 10.08x | 3.23x | -$0.07 | 0.00x | $1.84B | — | 0.14x |
| 2021 | 0.5% | 12.40x | 3.22x | $8.29 | -0.46x | -$968.43M | — | -11.21x |
| 2022 | 15.0% | 5.71x | 0.93x | $7.77 | -0.52x | -$909.00M | — | -4.06x |
| 2023 | -0.2% | 15.54x | 0.30x | $7.27 | -0.14x | $532.00M | — | -4.47x |
| 2024 | 0.5% | 21.23x | 0.65x | $8.56 | 0.14x | -$207.00M | 21.3% | 7.58x |
| 2025 | 0.4% | 29.05x | 0.63x | $9.36 | — | $1.58B | 18.1% | 13.60x |
- 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: $154.00M
Inventory: $0.00
Total assets: $38.14B
Goodwill: $385.00M
Intangibles: $168.00M
Liabilities: $28.99B
Tangible book: $8.60B
Shares: 918,781,846
Revenue: $4.47B
Capex: $54.00M
D&A: $86.00M
EBITDA: $2.18B
Interest: —
Short-term debt: $11.63B
Free cash flow: $1.58B
Operating income: $2.09B
Invested capital: $10.32B
Tax rate: 10.7%