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.
MercadoLibre Inc.
Physical assets are 11.9% of total assets, a light footprint. Capex is 2.35x 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 6.41x. Compare it with other names in the same basket.
Physical asset ratio
11.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
6.41x
Revenue per dollar of the physical asset base.
Capex / D&A
2.35x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$129.24
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
14.37x
Price $1.86K.
Fixed-charge coverage
0.47x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
11.6%
Latest free cash flow divided by current market cap ($93.24B).
ROIC
19.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.71x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 7.6% | 8.69x | 2.13x | $5.15 | -0.33x | $133.15M | — | -0.42x |
| 2019 | 9.5% | 5.16x | 1.87x | $40.66 | -0.42x | $314.22M | — | -0.34x |
| 2020 | 12.5% | 5.72x | 2.35x | $31.21 | 0.07x | $935.41M | 8.5% | 0.18x |
| 2021 | 15.1% | 5.57x | 2.99x | $26.87 | 0.04x | $355.55M | 9.7% | 0.35x |
| 2022 | 13.1% | 6.54x | 1.13x | $32.12 | 0.36x | $2.49B | 15.7% | 0.65x |
| 2023 | 13.6% | 7.03x | 0.97x | $56.33 | 0.72x | $4.63B | 30.1% | 1.03x |
| 2024 | 11.0% | 8.38x | 1.39x | $81.68 | 0.80x | $7.06B | 27.7% | 1.06x |
| 2025 | 11.9% | 6.41x | 2.35x | $129.24 | 0.47x | $10.77B | 19.0% | 0.71x |
- 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 the current portion of debt.
Latest year inputs (2025)
Net PP&E: $4.50B
Inventory: $570.00M
Total assets: $42.67B
Goodwill: $163.00M
Intangibles: $33.00M
Liabilities: $35.92B
Tangible book: $6.55B
Shares: 50,697,000
Revenue: $28.89B
Capex: $1.34B
D&A: $571.00M
EBITDA: $3.56B
Interest: $148.00M
Short-term debt: $4.58B
Free cash flow: $10.77B
Operating income: $3.20B
Invested capital: $11.84B
Tax rate: 29.7%