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 0.73x 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 0.30x, 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
0.73x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$18.45
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.63x
Price $11.55.
Fixed-charge coverage
0.30x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
28.4%
Latest free cash flow divided by current market cap ($42.37B).
ROIC
2.4%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.07x.
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 | $11.98 | 0.17x | -$10.36B | 4.5% | 0.13x |
| 2019 | 39.1% | 1.95x | 0.67x | $10.95 | 0.04x | -$2.95B | 1.7% | 0.05x |
| 2020 | 38.2% | 1.86x | 0.48x | $10.71 | 0.17x | $13.77B | 3.0% | 0.08x |
| 2021 | 36.0% | 1.85x | 0.49x | $13.59 | 0.51x | $17.23B | 8.7% | 0.23x |
| 2022 | 36.3% | 2.18x | 1.06x | $16.52 | 0.62x | $10.00B | 10.2% | 0.29x |
| 2023 | 25.2% | 3.81x | 1.23x | $17.71 | 0.60x | $6.26B | 6.0% | 0.33x |
| 2024 | 36.9% | 2.03x | 1.28x | $18.51 | 0.43x | $9.07B | 5.5% | 0.17x |
| 2025 | 35.5% | 1.98x | 0.73x | $18.45 | 0.30x | $12.03B | 2.4% | 0.07x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $66.78B
Inventory: $23.92B
Total assets: $255.36B
Goodwill: $709.70M
Intangibles: $19.83B
Liabilities: $161.16B
Tangible book: $73.66B
Shares: 3,993,132,000
Revenue: $132.21B
Capex: $5.27B
D&A: $7.22B
EBITDA: $13.91B
Interest: $119.11M
Short-term debt: $28.85B
Free cash flow: $12.03B
Operating income: $4.87B
Invested capital: $173.99B
Tax rate: 15.2%