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.
Mercedes-Benz Group AG
Physical assets are 35.5% of total assets, a mixed 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 0.28x, which is below 1.
Fixed-asset turnover is 1.98x. Compare it with other names in the same basket.
Physical asset ratio
35.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
1.98x
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
$73.79
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.62x
Price $45.63.
Fixed-charge coverage
0.28x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
29.5%
Latest free cash flow divided by current market cap ($42.43B).
ROIC
3.2%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.10x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 38.9% | 2.08x | 0.72x | $47.91 | 0.17x | -$10.36B | 4.5% | 0.13x |
| 2019 | 39.1% | 1.95x | 0.67x | $43.81 | 0.04x | -$2.95B | 1.7% | 0.05x |
| 2020 | 38.2% | 1.47x | 1.47x | $42.86 | 0.09x | $13.77B | 1.1% | 0.03x |
| 2021 | 36.0% | 1.85x | 1.74x | $54.37 | 0.38x | $17.23B | 6.0% | 0.16x |
| 2022 | 36.3% | 2.18x | 1.06x | $66.06 | 0.52x | $10.00B | 7.1% | 0.21x |
| 2023 | 25.2% | 3.81x | 1.23x | $70.99 | 0.59x | $6.26B | 6.2% | 0.34x |
| 2024 | 36.9% | 2.03x | 1.28x | $74.05 | 0.43x | $9.07B | 5.5% | 0.17x |
| 2025 | 35.5% | 1.98x | 0.76x | $73.79 | 0.28x | $12.52B | 3.2% | 0.10x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $66.79B
Inventory: $23.92B
Total assets: $255.37B
Goodwill: $709.73M
Intangibles: $19.83B
Liabilities: $161.17B
Tangible book: $73.67B
Shares: 998,315,000
Revenue: $132.16B
Capex: $5.48B
D&A: $7.22B
EBITDA: $13.72B
Interest: $123.95M
Short-term debt: $28.85B
Free cash flow: $12.52B
Operating income: $6.50B
Invested capital: $174.00B
Tax rate: 15.2%