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.
Jack in the Box Inc.
Physical assets are 70.1% of total assets, a heavy footprint. Capex is 1.51x 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 -0.47x, which is below 1.
Fixed-asset turnover is 0.81x. Compare it with other names in the same basket.
Physical asset ratio
70.1%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.82BpropertyPlantAndEquipmentNetInventory$3.96MinventoryTotal assets$2.59BtotalAssetsResult 70.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.81xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$1.47BtotalRevenueNet PP&E$1.82BpropertyPlantAndEquipmentNetResult 0.81x
Revenue per dollar of the physical asset base.
Capex / D&A
1.51xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$88.22McapitalExpendituresD&A$58.31MdepreciationAndAmortizationResult 1.51x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$62.12Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.59BtotalAssetsGoodwill$136.03MgoodWillIntangibles$115.48MintangibleAssetsLiabilities$3.53BtotalLiabTangible book-$1.19BShares19,154,000commonStockSharesOutstandingResult -$62.12
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$14.12Latest quoteTangible book / share-$62.122025-09-30Tangible book per share is not positive, so the multiple is left blank.Result —
Price $14.12.
Fixed-charge coverage
-0.47xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$36.19MebitdaCapex$88.22McapitalExpendituresInterest$80.61MinterestExpenseShort-term debt$29.49MshortLongTermDebtEBITDA − capex-$52.03MPrincipal due is the current portion of debt.Result -0.47x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
27.0%Free cash flow yield · 2025-09-30Latest free cash flow / current market capFree cash flow$74.14MfreeCashFlowMarket cap$274.84MMarketCapitalizationResult 27.0%
Latest free cash flow divided by current market cap ($274.84M).
ROIC
—ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$18.07MoperatingIncomeTax expense-$22.11MincomeTaxExpensePretax income-$102.83MincomeBeforeTaxTax rate—Equity-$938.27MtotalStockholderEquityDebt$1.70BlongTermDebt + shortLongTermDebtCash$51.53McashInvested capital$714.17MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.01x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 51.2%Physical asset ratio · 2018-09-30(Net PP&E + inventory) / total assetsNet PP&E$419.67MpropertyPlantEquipmentInventory$1.86MinventoryTotal assets$823.40MtotalAssetsResult 51.2% | 2.07xFixed asset turnover · 2018-09-30Revenue / net PP&ERevenue$869.69MtotalRevenueNet PP&E$419.67MpropertyPlantEquipmentResult 2.07x | 0.54xCapex / D&A · 2018-09-30Capital expenditures / depreciation and amortizationCapex$32.35McapitalExpendituresD&A$59.42MdepreciationAndAmortizationResult 0.54x | -$22.18Tangible book / share · 2018-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$823.40MtotalAssetsGoodwill$46.75MgoodWillIntangibles$600.00KintangibleAssetsLiabilities$1.42BtotalLiabTangible book-$639.05MShares28,807,000commonStockSharesOutstandingResult -$22.18 | 3.34xFixed-charge coverage · 2018-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$291.04MebitdaCapex$32.35McapitalExpendituresInterest$45.55MinterestExpenseShort-term debt$31.83MshortTermDebtEBITDA − capex$258.69MPrincipal due is short-term debt.Result 3.34x | $76.53MFree cash flow · 2018-09-30Reported free cash flowOperating cash flow$108.88MtotalCashFromOperatingActivitiesCapex$32.35McapitalExpendituresFree cash flow$76.53MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $76.53M | 29.5%ROIC · 2018-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$233.45MoperatingIncomeTax expense$81.73MincomeTaxExpensePretax income$186.07MincomeBeforeTaxTax rate40.0%Equity-$591.70MtotalStockholderEquityDebt$1.07BshortLongTermDebtTotalCash$2.71McashInvested capital$475.35MThe effective tax rate was above 40% and was capped at 40%.Result 29.5% | 0.56xEBIT / PP&E · 2018-09-30Operating income / net PP&EOperating income$233.45MoperatingIncomeNet PP&E$419.67MpropertyPlantEquipmentResult 0.56x |
| 2019 | 41.1%Physical asset ratio · 2019-09-30(Net PP&E + inventory) / total assetsNet PP&E$391.93MpropertyPlantEquipmentInventory$1.78MinventoryTotal assets$958.48MtotalAssetsResult 41.1% | 2.42xFixed asset turnover · 2019-09-30Revenue / net PP&ERevenue$950.11MtotalRevenueNet PP&E$391.93MpropertyPlantEquipmentResult 2.42x | 0.86xCapex / D&A · 2019-09-30Capital expenditures / depreciation and amortizationCapex$47.65McapitalExpendituresD&A$55.18MdepreciationAndAmortizationResult 0.86x | -$30.10Tangible book / share · 2019-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$958.48MtotalAssetsGoodwill$46.75MgoodWillIntangibles$425.00KintangibleAssetsLiabilities$1.70BtotalLiabTangible book-$784.76MShares26,068,000commonStockSharesOutstandingResult -$30.10 | 2.43xFixed-charge coverage · 2019-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$255.92MebitdaCapex$47.65McapitalExpendituresInterest$84.97MinterestExpenseShort-term debt$774.00KshortTermDebtEBITDA − capex$208.27MPrincipal due is short-term debt.Result 2.43x | $120.76MFree cash flow · 2019-09-30Reported free cash flowOperating cash flow$168.41MtotalCashFromOperatingActivitiesCapex$47.65McapitalExpendituresFree cash flow$120.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $120.76M | 38.9%ROIC · 2019-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$202.22MoperatingIncomeTax expense$24.03MincomeTaxExpensePretax income$115.77MincomeBeforeTaxTax rate20.8%Equity-$737.58MtotalStockholderEquityDebt$1.28BshortLongTermDebtTotalCash$125.54McashInvested capital$412.03MResult 38.9% | 0.52xEBIT / PP&E · 2019-09-30Operating income / net PP&EOperating income$202.22MoperatingIncomeNet PP&E$391.93MpropertyPlantEquipmentResult 0.52x |
| 2020 | 65.2%Physical asset ratio · 2020-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.24BpropertyPlantAndEquipmentNetInventory$1.81MinventoryTotal assets$1.91BtotalAssetsResult 65.2% | 0.82xFixed asset turnover · 2020-09-30Revenue / net PP&ERevenue$1.02BtotalRevenueNet PP&E$1.24BpropertyPlantAndEquipmentNetResult 0.82x | 0.37xCapex / D&A · 2020-09-30Capital expenditures / depreciation and amortizationCapex$19.53McapitalExpendituresD&A$52.80MdepreciationAndAmortizationResult 0.37x | -$36.13Tangible book / share · 2020-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.91BtotalAssetsGoodwill$47.16MgoodWillIntangibles$277.00KintangibleAssetsLiabilities$2.70BtotalLiabTangible book-$840.80MShares23,269,000commonStockSharesOutstandingResult -$36.13 | 3.26xFixed-charge coverage · 2020-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$241.66MebitdaCapex$19.53McapitalExpendituresInterest$67.27MinterestExpenseShort-term debt$818.00KshortLongTermDebtEBITDA − capex$222.13MPrincipal due is the current portion of debt.Result 3.26x | $124.00MFree cash flow · 2020-09-30Reported free cash flowOperating cash flow$143.53MtotalCashFromOperatingActivitiesCapex$19.53McapitalExpendituresFree cash flow$124.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $124.00M | 43.9%ROIC · 2020-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$230.58MoperatingIncomeTax expense$32.73MincomeTaxExpensePretax income$122.12MincomeBeforeTaxTax rate26.8%Equity-$793.36MtotalStockholderEquityDebt$1.38BlongTermDebt + shortLongTermDebtCash$199.66McashInvested capital$384.71MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 43.9% | 0.19xEBIT / PP&E · 2020-09-30Operating income / net PP&EOperating income$230.58MoperatingIncomeNet PP&E$1.24BpropertyPlantAndEquipmentNetResult 0.19x |
| 2021 | 72.0%Physical asset ratio · 2021-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.26BpropertyPlantAndEquipmentNetInventory$2.34MinventoryTotal assets$1.75BtotalAssetsResult 72.0% | 0.91xFixed asset turnover · 2021-09-30Revenue / net PP&ERevenue$1.14BtotalRevenueNet PP&E$1.26BpropertyPlantAndEquipmentNetResult 0.91x | 0.88xCapex / D&A · 2021-09-30Capital expenditures / depreciation and amortizationCapex$41.01McapitalExpendituresD&A$46.50MdepreciationAndAmortizationResult 0.88x | -$38.53Tangible book / share · 2021-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.75BtotalAssetsGoodwill$47.77MgoodWillIntangibles$470.00KintangibleAssetsLiabilities$2.57BtotalLiabTangible book-$866.13MShares22,478,000commonStockSharesOutstandingResult -$38.53 | 4.31xFixed-charge coverage · 2021-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$335.57MebitdaCapex$41.01McapitalExpendituresInterest$67.46MinterestExpenseShort-term debt$894.00KshortLongTermDebtEBITDA − capex$294.56MPrincipal due is the current portion of debt.Result 4.31x | $160.11MFree cash flow · 2021-09-30Reported free cash flowOperating cash flow$201.12MtotalCashFromOperatingActivitiesCapex$41.01McapitalExpendituresFree cash flow$160.11MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $160.11M | 54.1%ROIC · 2021-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$289.95MoperatingIncomeTax expense$55.85MincomeTaxExpensePretax income$221.61MincomeBeforeTaxTax rate25.2%Equity-$817.88MtotalStockholderEquityDebt$1.27BlongTermDebt + shortLongTermDebtCash$55.35McashInvested capital$401.09MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 54.1% | 0.23xEBIT / PP&E · 2021-09-30Operating income / net PP&EOperating income$289.95MoperatingIncomeNet PP&E$1.26BpropertyPlantAndEquipmentNetResult 0.23x |
| 2022 | 60.1%Physical asset ratio · 2022-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.75BpropertyPlantEquipmentInventory$5.26MinventoryTotal assets$2.92BtotalAssetsResult 60.1% | 0.84xFixed asset turnover · 2022-09-30Revenue / net PP&ERevenue$1.47BtotalRevenueNet PP&E$1.75BpropertyPlantEquipmentResult 0.84x | 0.83xCapex / D&A · 2022-09-30Capital expenditures / depreciation and amortizationCapex$46.48McapitalExpendituresD&A$56.10MdepreciationAndAmortizationResult 0.83x | -$65.84Tangible book / share · 2022-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.92BtotalAssetsGoodwill$366.82MgoodWillIntangibles$295.82MintangibleAssetsLiabilities$3.66BtotalLiabTangible book-$1.40BShares21,245,000commonStockSharesOutstandingResult -$65.84 | 2.22xFixed-charge coverage · 2022-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$304.07MebitdaCapex$46.48McapitalExpendituresInterest$86.08MinterestExpenseShort-term debt$30.17MshortLongTermDebtEBITDA − capex$257.59MPrincipal due is the current portion of debt.Result 2.22x | $116.41MFree cash flow · 2022-09-30Reported free cash flowOperating cash flow$162.88MtotalCashFromOperatingActivitiesCapex$46.48McapitalExpendituresFree cash flow$116.41MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $116.41M | 18.0%ROIC · 2022-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$248.27MoperatingIncomeTax expense$46.11MincomeTaxExpensePretax income$161.89MincomeBeforeTaxTax rate28.5%Equity-$736.19MtotalStockholderEquityDebt$1.83BlongTermDebt + shortLongTermDebtCash$108.89McashInvested capital$984.63MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 18.0% | 0.14xEBIT / PP&E · 2022-09-30Operating income / net PP&EOperating income$248.27MoperatingIncomeNet PP&E$1.75BpropertyPlantEquipmentResult 0.14x |
| 2023 | 60.4%Physical asset ratio · 2023-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.81BpropertyPlantAndEquipmentNetInventory$3.90MinventoryTotal assets$3.00BtotalAssetsResult 60.4% | 0.94xFixed asset turnover · 2023-09-30Revenue / net PP&ERevenue$1.69BtotalRevenueNet PP&E$1.81BpropertyPlantAndEquipmentNetResult 0.94x | 1.20xCapex / D&A · 2023-09-30Capital expenditures / depreciation and amortizationCapex$74.95McapitalExpendituresD&A$62.29MdepreciationAndAmortizationResult 1.20x | -$64.69Tangible book / share · 2023-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.00BtotalAssetsGoodwill$329.99MgoodWillIntangibles$294.83MintangibleAssetsLiabilities$3.72BtotalLiabTangible book-$1.34BShares20,764,000commonStockSharesOutstandingResult -$64.69 | 2.32xFixed-charge coverage · 2023-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$336.25MebitdaCapex$74.95McapitalExpendituresInterest$82.45MinterestExpenseShort-term debt$29.96MshortLongTermDebtEBITDA − capex$261.30MPrincipal due is the current portion of debt.Result 2.32x | $140.05MFree cash flow · 2023-09-30Reported free cash flowOperating cash flow$215.01MtotalCashFromOperatingActivitiesCapex$74.95McapitalExpendituresFree cash flow$140.05MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $140.05M | 21.9%ROIC · 2023-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$278.75MoperatingIncomeTax expense$58.51MincomeTaxExpensePretax income$189.34MincomeBeforeTaxTax rate30.9%Equity-$718.33MtotalStockholderEquityDebt$1.75BlongTermDebt + shortLongTermDebtCash$157.65McashInvested capital$878.92MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 21.9% | 0.15xEBIT / PP&E · 2023-09-30Operating income / net PP&EOperating income$278.75MoperatingIncomeNet PP&E$1.81BpropertyPlantAndEquipmentNetResult 0.15x |
| 2024 | 67.4%Physical asset ratio · 2024-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.84BpropertyPlantAndEquipmentNetInventory$3.92MinventoryTotal assets$2.74BtotalAssetsResult 67.4% | 0.85xFixed asset turnover · 2024-09-30Revenue / net PP&ERevenue$1.57BtotalRevenueNet PP&E$1.84BpropertyPlantAndEquipmentNetResult 0.85x | 1.93xCapex / D&A · 2024-09-30Capital expenditures / depreciation and amortizationCapex$115.47McapitalExpendituresD&A$59.78MdepreciationAndAmortizationResult 1.93x | -$65.89Tangible book / share · 2024-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.74BtotalAssetsGoodwill$161.21MgoodWillIntangibles$294.02MintangibleAssetsLiabilities$3.59BtotalLiabTangible book-$1.31BShares19,836,000commonStockSharesOutstandingResult -$65.89 | 0.19xFixed-charge coverage · 2024-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$137.59MebitdaCapex$115.47McapitalExpendituresInterest$82.13MinterestExpenseShort-term debt$35.88MshortLongTermDebtEBITDA − capex$22.11MPrincipal due is the current portion of debt.Result 0.19x | -$46.66MFree cash flow · 2024-09-30Reported free cash flowOperating cash flow$68.82MtotalCashFromOperatingActivitiesCapex$115.47McapitalExpendituresFree cash flow-$46.66MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$46.66M | —ROIC · 2024-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$82.54MoperatingIncomeTax expense$32.37MincomeTaxExpensePretax income-$4.32MincomeBeforeTaxTax rate—Equity-$851.80MtotalStockholderEquityDebt$1.74BlongTermDebt + shortLongTermDebtCash$24.75McashInvested capital$858.77MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.04xEBIT / PP&E · 2024-09-30Operating income / net PP&EOperating income$82.54MoperatingIncomeNet PP&E$1.84BpropertyPlantAndEquipmentNetResult 0.04x |
| 2025 | 70.1%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$1.82BpropertyPlantAndEquipmentNetInventory$3.96MinventoryTotal assets$2.59BtotalAssetsResult 70.1% | 0.81xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$1.47BtotalRevenueNet PP&E$1.82BpropertyPlantAndEquipmentNetResult 0.81x | 1.51xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$88.22McapitalExpendituresD&A$58.31MdepreciationAndAmortizationResult 1.51x | -$62.12Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.59BtotalAssetsGoodwill$136.03MgoodWillIntangibles$115.48MintangibleAssetsLiabilities$3.53BtotalLiabTangible book-$1.19BShares19,154,000commonStockSharesOutstandingResult -$62.12 | -0.47xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$36.19MebitdaCapex$88.22McapitalExpendituresInterest$80.61MinterestExpenseShort-term debt$29.49MshortLongTermDebtEBITDA − capex-$52.03MPrincipal due is the current portion of debt.Result -0.47x | $74.14MFree cash flow · 2025-09-30Reported free cash flowOperating cash flow$162.36MtotalCashFromOperatingActivitiesCapex$88.22McapitalExpendituresFree cash flow$74.14MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $74.14M | —ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$18.07MoperatingIncomeTax expense-$22.11MincomeTaxExpensePretax income-$102.83MincomeBeforeTaxTax rate—Equity-$938.27MtotalStockholderEquityDebt$1.70BlongTermDebt + shortLongTermDebtCash$51.53McashInvested capital$714.17MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.01xEBIT / PP&E · 2025-09-30Operating income / net PP&EOperating income-$18.07MoperatingIncomeNet PP&E$1.82BpropertyPlantAndEquipmentNetResult -0.01x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $1.82B
Inventory: $3.96M
Total assets: $2.59B
Goodwill: $136.03M
Intangibles: $115.48M
Liabilities: $3.53B
Tangible book: -$1.19B
Shares: 19,154,000
Revenue: $1.47B
Capex: $88.22M
D&A: $58.31M
EBITDA: $36.19M
Interest: $80.61M
Short-term debt: $29.49M
Free cash flow: $74.14M
Operating income: -$18.07M
Invested capital: $714.17M
Tax rate: —