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.
RioCan Real Estate Investment Trust
Net PP&E was missing, so the physical footprint could not be scored. Capex is 167.57x 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 0.08x, which is below 1.
Physical asset ratio
—
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
—
Revenue per dollar of the physical asset base.
Capex / D&A
167.57x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$24.19
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.86x
Price $20.90.
Fixed-charge coverage
0.08x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.0%
Latest free cash flow divided by current market cap ($6.03B).
ROIC
5.1%
After-tax operating income over equity plus debt minus cash.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 94.4% | 0.09x | 92.23x | -$17.52 | 0.23x | -$17.93M | 4.8% | 0.05x |
| 2019 | 95.3% | 0.09x | 122.59x | $73.64 | 0.38x | $31.64M | 4.9% | 0.05x |
| 2020 | 93.5% | 0.08x | 118.99x | $24.34 | 0.12x | $35.95M | — | 0.05x |
| 2021 | 93.8% | 0.08x | 115.34x | $24.93 | 0.49x | $26.52M | 4.6% | 0.05x |
| 2022 | 93.2% | 0.09x | 82.32x | $24.36 | 0.20x | $113.15M | 4.6% | 0.05x |
| 2023 | 92.8% | 0.09x | 148.56x | $24.75 | -0.10x | -$5.48M | 4.8% | 0.05x |
| 2024 | — | — | 204.78x | $25.15 | 0.32x | $81.34M | 5.0% | — |
| 2025 | — | — | 167.57x | $24.19 | 0.08x | $181.03M | 5.1% | — |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: —
Inventory: $236.75M
Total assets: $14.89B
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $7.74B
Tangible book: $7.16B
Shares: 295,896,000
Revenue: $1.48B
Capex: $253.03M
D&A: $1.51M
EBITDA: $348.69M
Interest: $277.89M
Short-term debt: $978.03M
Free cash flow: $181.03M
Operating income: $722.32M
Invested capital: $14.20B
Tax rate: 0.0%