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.
OVH Groupe SAS
Physical assets are 66.0% of total assets, a heavy footprint. Capex is 1.07x 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 0.45x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 0.96x.
Physical asset ratio
66.0%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.96x
Revenue per dollar of the physical asset base.
Capex / D&A
1.07x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-€1.95
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price €15.33.
Fixed-charge coverage
0.45x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.5%
Latest free cash flow divided by current market cap (€2.23B).
ROIC
3.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.08x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 77.5% | 0.70x | 1.84x | €1.74 | -6.63x | -€147.72M | — | -0.03x |
| 2019 | 86.8% | 0.77x | 1.06x | €1.43 | -0.56x | -€51.21M | — | 0.00x |
| 2020 | 74.9% | 0.82x | 1.32x | €0.09 | -0.69x | -€9.85M | — | 0.04x |
| 2021 | 67.6% | 0.78x | 1.53x | -€0.40 | -0.99x | -€75.01M | — | 0.02x |
| 2022 | 68.8% | 0.80x | 1.69x | €1.02 | -12.11x | -€179.32M | — | -0.02x |
| 2023 | 67.2% | 0.83x | 1.12x | €0.53 | -1.34x | -€27.95M | — | -0.01x |
| 2024 | 66.5% | 0.90x | 1.00x | €0.19 | 0.49x | €25.10M | — | 0.03x |
| 2025 | 66.0% | 0.96x | 1.07x | -€1.95 | 0.45x | €11.00M | 3.8% | 0.08x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is short-term debt, the amount reported as due within a year.
- The effective tax rate was above 40% and was capped at 40% for ROIC.
Latest year inputs (2025)
Net PP&E: €1.13B
Inventory: €0.00
Total assets: €1.71B
Goodwill: €59.10M
Intangibles: €298.40M
Liabilities: €1.67B
Tangible book: -€322.80M
Shares: 165,255,000
Revenue: €1.08B
Capex: €368.90M
D&A: €346.10M
EBITDA: €420.00M
Interest: €69.50M
Short-term debt: €44.70M
Free cash flow: €11.00M
Operating income: €88.60M
Invested capital: €1.40B
Tax rate: 40.0%