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.
Nestle S.A.
Physical assets are 35.7% of total assets, a mixed footprint. Capex is 1.25x 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 0.97x, which is below 1.
Fixed-asset turnover is 2.76x. Compare it with other names in the same basket.
Physical asset ratio
35.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2.76x
Revenue per dollar of the physical asset base.
Capex / D&A
1.25x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-CHF 4.37
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price CHF 82.43.
Fixed-charge coverage
0.97x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.4%
Latest free cash flow divided by current market cap (CHF 212.03B).
ROIC
11.3%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.38x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 28.5% | 3.06x | 1.28x | CHF 2.67 | 0.92x | CHF 11.53B | 11.8% | 0.46x |
| 2019 | 29.8% | 3.23x | 1.52x | CHF 2.09 | 0.95x | CHF 11.64B | 16.3% | 0.56x |
| 2020 | 29.0% | 3.28x | 1.72x | -CHF 0.44 | 0.95x | CHF 10.01B | 18.5% | 0.57x |
| 2021 | 29.0% | 3.09x | 2.13x | CHF 0.18 | 1.04x | CHF 8.52B | 12.0% | 0.41x |
| 2022 | 33.4% | 3.14x | 1.51x | -CHF 3.21 | 1.14x | CHF 6.55B | 10.7% | 0.41x |
| 2023 | 33.5% | 3.06x | 1.79x | -CHF 3.98 | 1.17x | CHF 9.74B | 13.8% | 0.46x |
| 2024 | 33.7% | 2.72x | 1.61x | -CHF 5.06 | 0.98x | CHF 10.92B | 12.4% | 0.44x |
| 2025 | 35.7% | 2.76x | 1.25x | -CHF 4.37 | 0.97x | CHF 11.38B | 11.3% | 0.38x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: CHF 32.55B
Inventory: CHF 12.81B
Total assets: CHF 127.15B
Goodwill: CHF 27.64B
Intangibles: CHF 16.67B
Liabilities: CHF 94.09B
Tangible book: -CHF 11.25B
Shares: 2,576,000,000
Revenue: CHF 89.89B
Capex: CHF 4.53B
D&A: CHF 3.63B
EBITDA: CHF 17.54B
Interest: CHF 1.83B
Short-term debt: CHF 11.61B
Free cash flow: CHF 11.38B
Operating income: CHF 12.28B
Invested capital: CHF 84.43B
Tax rate: 22.2%