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.
Iberdrola S.A.
Physical assets are 61.6% of total assets, a heavy footprint. Capex is 1.46x depreciation and free cash flow yield is still positive, which fits a physical base that is being replaced or expanded without consuming all of its cash. EBITDA after capex covers debt service by 0.48x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.46x.
Physical asset ratio
61.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.46x
Revenue per dollar of the physical asset base.
Capex / D&A
1.46x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€6.16
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.52x
Price €21.69.
Fixed-charge coverage
0.48x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.8%
Latest free cash flow divided by current market cap (€144.74B).
ROIC
7.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.11x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 60.6% | 0.53x | 1.76x | €3.41 | 0.37x | €1.24B | 5.8% | 0.08x |
| 2019 | 62.0% | 0.50x | 1.43x | €4.01 | 0.53x | €1.33B | 6.2% | 0.08x |
| 2020 | 62.4% | 0.45x | 1.46x | €4.50 | 0.50x | €2.50B | 9.4% | 0.08x |
| 2021 | 60.1% | 0.48x | 1.64x | €5.61 | 0.41x | €1.19B | 6.3% | 0.09x |
| 2022 | 58.9% | 0.61x | 1.44x | €5.69 | 0.44x | €3.66B | 7.5% | 0.09x |
| 2023 | 62.1% | 0.55x | 1.61x | €6.21 | 0.42x | €4.41B | 7.0% | 0.10x |
| 2024 | 63.4% | 0.46x | 1.65x | €6.32 | 0.39x | €3.72B | 7.1% | 0.10x |
| 2025 | 61.6% | 0.46x | 1.46x | €6.16 | 0.48x | €1.19B | 7.8% | 0.11x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: €96.26B
Inventory: €2.80B
Total assets: €160.76B
Goodwill: €8.39B
Intangibles: €13.85B
Liabilities: €97.34B
Tangible book: €41.18B
Shares: 6,681,195,000
Revenue: €44.08B
Capex: €7.61B
D&A: €5.21B
EBITDA: €15.40B
Interest: €4.30B
Short-term debt: €11.93B
Free cash flow: €1.19B
Operating income: €10.19B
Invested capital: €103.51B
Tax rate: 20.6%