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.
Repligen Corporation
Physical assets are 16.2% of total assets, a light footprint. Capex is 0.24x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 2.3%, below an 8% cost-of-capital hurdle.
Fixed-asset turnover is 2.41x. Compare it with other names in the same basket.
Physical asset ratio
16.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$306.15MpropertyPlantAndEquipmentNetInventory$170.46MinventoryTotal assets$2.95BtotalAssetsResult 16.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2.41xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$738.26MtotalRevenueNet PP&E$306.15MpropertyPlantAndEquipmentNetResult 2.41x
Revenue per dollar of the physical asset base.
Capex / D&A
0.24xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$23.52McapitalExpendituresD&A$96.96MdepreciationAndAmortizationResult 0.24x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$10.71Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.95BtotalAssetsGoodwill$1.11BgoodWillIntangibles$386.15MintangibleAssetsLiabilities$843.57MtotalLiabTangible book$605.57MShares56,561,000commonStockSharesOutstandingResult $10.71
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
16.64xPrice / tangible bookPrice / tangible book per sharePrice$178.20Latest quoteTangible book / share$10.712025-12-31Result 16.64x
Price $178.20.
Fixed-charge coverage
3.55xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$182.51MebitdaCapex$23.52McapitalExpendituresInterest$23.17MinterestExpenseShort-term debt$21.56MshortTermDebtEBITDA − capex$158.99MPrincipal due is short-term debt.Result 3.55x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
0.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$93.90MfreeCashFlowMarket cap$11.40BMarketCapitalizationResult 0.8%
Latest free cash flow divided by current market cap ($11.40B).
ROIC
2.3%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$59.58MoperatingIncomeTax expense$13.49MincomeTaxExpensePretax income$62.38MincomeBeforeTaxTax rate21.6%Equity$2.11BtotalStockholderEquityDebt$689.95MshortLongTermDebtTotalCash$767.63McashAndShortTermInvestmentsInvested capital$2.03BResult 2.3%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.19x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 53.4%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$32.18MpropertyPlantEquipmentInventory$42.26MinventoryTotal assets$139.45MtotalAssetsResult 53.4% | 6.03xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$194.03MtotalRevenueNet PP&E$32.18MpropertyPlantEquipmentResult 6.03x | 0.89xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$14.04McapitalExpendituresD&A$15.78MdepreciationAndAmortizationResult 0.89x | -$10.60Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$139.45MtotalAssetsGoodwill$326.74MgoodWillIntangibles$135.44MintangibleAssetsLiabilities$159.05MtotalLiabTangible book-$481.78MShares45,471,000commonStockSharesOutstandingResult -$10.60 | 0.25xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$41.77MebitdaCapex$14.04McapitalExpendituresInterest$6.71MinterestExpenseShort-term debt$103.49MshortTermDebtEBITDA − capex$27.73MPrincipal due is short-term debt.Result 0.25x | $18.73MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$32.77MtotalCashFromOperatingActivitiesCapex$14.04McapitalExpendituresFree cash flow$18.73MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $18.73M | 3.8%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$25.99MoperatingIncomeTax expense$4.82MincomeTaxExpensePretax income$21.44MincomeBeforeTaxTax rate22.5%Equity$615.57MtotalStockholderEquityDebt$103.49MshortLongTermDebtTotalCash$193.82McashInvested capital$525.23MResult 3.8% | 0.81xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$25.99MoperatingIncomeNet PP&E$32.18MpropertyPlantEquipmentResult 0.81x |
| 2019 | 9.2%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$74.16MpropertyPlantAndEquipmentNetInventory$54.83MinventoryTotal assets$1.40BtotalAssetsResult 9.2% | 3.64xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$270.25MtotalRevenueNet PP&E$74.16MpropertyPlantAndEquipmentNetResult 3.64x | 1.11xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$23.15McapitalExpendituresD&A$20.87MdepreciationAndAmortizationResult 1.11x | $7.70Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.40BtotalAssetsGoodwill$468.41MgoodWillIntangibles$212.55MintangibleAssetsLiabilities$340.35MtotalLiabTangible book$378.80MShares49,206,000commonStockSharesOutstandingResult $7.70 | 2.58xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$56.31MebitdaCapex$23.15McapitalExpendituresInterest$9.29MinterestExpenseShort-term debt$3.56MshortTermDebtEBITDA − capex$33.16MPrincipal due is short-term debt.Result 2.58x | $44.06MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$67.22MtotalCashFromOperatingActivitiesCapex$23.15McapitalExpendituresFree cash flow$44.06MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $44.06M | 4.1%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$40.08MoperatingIncomeTax expense$4.74MincomeTaxExpensePretax income$26.15MincomeBeforeTaxTax rate18.1%Equity$1.06BtotalStockholderEquityDebt$263.32MshortLongTermDebtTotalCash$528.39McashInvested capital$794.70MResult 4.1% | 0.54xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$40.08MoperatingIncomeNet PP&E$74.16MpropertyPlantAndEquipmentNetResult 0.54x |
| 2020 | 9.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$92.05MpropertyPlantAndEquipmentNetInventory$95.03MinventoryTotal assets$1.90BtotalAssetsResult 9.8% | 3.98xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$366.26MtotalRevenueNet PP&E$92.05MpropertyPlantAndEquipmentNetResult 3.98x | 0.97xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$26.34McapitalExpendituresD&A$27.07MdepreciationAndAmortizationResult 0.97x | $11.57Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.90BtotalAssetsGoodwill$618.31MgoodWillIntangibles$287.10MintangibleAssetsLiabilities$373.74MtotalLiabTangible book$623.75MShares53,892,000commonStockSharesOutstandingResult $11.57 | 0.28xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$98.42MebitdaCapex$26.34McapitalExpendituresInterest$12.13MinterestExpenseShort-term debt$243.74MshortLongTermDebtEBITDA − capex$72.07MPrincipal due is the current portion of debt.Result 0.28x | $36.28MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$62.63MtotalCashFromOperatingActivitiesCapex$26.34McapitalExpendituresFree cash flow$36.28MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $36.28M | 7.5%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$81.29MoperatingIncomeTax expense-$709.00KincomeTaxExpensePretax income$59.22MincomeBeforeTaxTax rate0.0%Equity$1.53BtotalStockholderEquityDebt$275.42MshortLongTermDebtTotalCash$717.29McashInvested capital$1.09BResult 7.5% | 0.88xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$81.29MoperatingIncomeNet PP&E$92.05MpropertyPlantAndEquipmentNetResult 0.88x |
| 2021 | 17.4%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$226.52MpropertyPlantAndEquipmentNetInventory$184.49MinventoryTotal assets$2.36BtotalAssetsResult 17.4% | 2.96xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$670.53MtotalRevenueNet PP&E$226.52MpropertyPlantAndEquipmentNetResult 2.96x | 1.74xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$67.09McapitalExpendituresD&A$38.45MdepreciationAndAmortizationResult 1.74x | $9.65Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.36BtotalAssetsGoodwill$860.36MgoodWillIntangibles$337.27MintangibleAssetsLiabilities$608.29MtotalLiabTangible book$552.43MShares57,264,000commonStockSharesOutstandingResult $9.65 | 0.51xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$203.27MebitdaCapex$67.09McapitalExpendituresInterest$12.71MinterestExpenseShort-term debt$255.26MshortLongTermDebtEBITDA − capex$136.18MPrincipal due is the current portion of debt.Result 0.51x | $51.93MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$119.02MtotalCashFromOperatingActivitiesCapex$67.09McapitalExpendituresFree cash flow$51.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $51.93M | 9.2%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$167.25MoperatingIncomeTax expense$25.25MincomeTaxExpensePretax income$153.54MincomeBeforeTaxTax rate16.4%Equity$1.75BtotalStockholderEquityDebt$366.05MshortLongTermDebtTotalCash$603.81McashInvested capital$1.51BResult 9.2% | 0.74xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$167.25MoperatingIncomeNet PP&E$226.52MpropertyPlantAndEquipmentNetResult 0.74x |
| 2022 | 21.9%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$315.70MpropertyPlantAndEquipmentNetInventory$238.28MinventoryTotal assets$2.53BtotalAssetsResult 21.9% | 2.54xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$801.54MtotalRevenueNet PP&E$315.70MpropertyPlantAndEquipmentNetResult 2.54x | 2.34xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$133.35McapitalExpendituresD&A$57.01MdepreciationAndAmortizationResult 2.34x | $12.09Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.53BtotalAssetsGoodwill$855.51MgoodWillIntangibles$360.62MintangibleAssetsLiabilities$620.90MtotalLiabTangible book$694.57MShares57,455,000commonStockSharesOutstandingResult $12.09 | 0.50xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$277.31MebitdaCapex$133.35McapitalExpendituresInterest$2.98MinterestExpenseShort-term debt$284.62MshortLongTermDebtEBITDA − capex$143.97MPrincipal due is the current portion of debt.Result 0.50x | $38.74MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$172.08MtotalCashFromOperatingActivitiesCapex$133.35McapitalExpendituresFree cash flow$38.74MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $38.74M | 11.1%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$224.67MoperatingIncomeTax expense$33.18MincomeTaxExpensePretax income$219.14MincomeBeforeTaxTax rate15.1%Equity$1.91BtotalStockholderEquityDebt$422.96MshortLongTermDebtTotalCash$623.76McashAndShortTermInvestmentsInvested capital$1.71BResult 11.1% | 0.71xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$224.67MoperatingIncomeNet PP&E$315.70MpropertyPlantAndEquipmentNetResult 0.71x |
| 2023 | 18.6%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$322.96MpropertyPlantAndEquipmentNetInventory$202.32MinventoryTotal assets$2.83BtotalAssetsResult 18.6% | 1.96xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$632.36MtotalRevenueNet PP&E$322.96MpropertyPlantAndEquipmentNetResult 1.96x | 0.45xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$38.99McapitalExpendituresD&A$86.11MdepreciationAndAmortizationResult 0.45x | $10.12Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.83BtotalAssetsGoodwill$987.12MgoodWillIntangibles$406.96MintangibleAssetsLiabilities$866.34MtotalLiabTangible book$570.77MShares56,377,000commonStockSharesOutstandingResult $10.12 | 1.34xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$145.32MebitdaCapex$38.99McapitalExpendituresInterest$10.03MinterestExpenseShort-term debt$69.45MshortLongTermDebtEBITDA − capex$106.34MPrincipal due is the current portion of debt.Result 1.34x | $74.93MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$113.92MtotalCashFromOperatingActivitiesCapex$38.99McapitalExpendituresFree cash flow$74.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $74.93M | 1.6%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$47.70MoperatingIncomeTax expense$21.11MincomeTaxExpensePretax income$56.71MincomeBeforeTaxTax rate37.2%Equity$1.96BtotalStockholderEquityDebt$711.80MshortLongTermDebtTotalCash$751.32McashInvested capital$1.93BResult 1.6% | 0.15xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$47.70MoperatingIncomeNet PP&E$322.96MpropertyPlantAndEquipmentNetResult 0.15x |
| 2024 | 16.8%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$333.12MpropertyPlantAndEquipmentNetInventory$142.96MinventoryTotal assets$2.83BtotalAssetsResult 16.8% | 1.90xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$634.44MtotalRevenueNet PP&E$333.12MpropertyPlantAndEquipmentNetResult 1.90x | 0.38xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$32.91McapitalExpendituresD&A$86.56MdepreciationAndAmortizationResult 0.38x | $9.72Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.83BtotalAssetsGoodwill$1.03BgoodWillIntangibles$397.90MintangibleAssetsLiabilities$856.95MtotalLiabTangible book$543.83MShares55,937,000commonStockSharesOutstandingResult $9.72 | 1.26xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$80.26MebitdaCapex$32.91McapitalExpendituresInterest$22.57MinterestExpenseShort-term debt$15.10MshortTermDebtEBITDA − capex$47.35MPrincipal due is short-term debt.Result 1.26x | $142.49MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$175.39MtotalCashFromOperatingActivitiesCapex$32.91McapitalExpendituresFree cash flow$142.49MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $142.49M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$35.11MoperatingIncomeTax expense-$1.52MincomeTaxExpensePretax income-$27.04MincomeBeforeTaxTax rate—Equity$1.97BtotalStockholderEquityDebt$686.25MshortLongTermDebtTotalCash$757.36McashInvested capital$1.90BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.11xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$35.11MoperatingIncomeNet PP&E$333.12MpropertyPlantAndEquipmentNetResult -0.11x |
| 2025 | 16.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$306.15MpropertyPlantAndEquipmentNetInventory$170.46MinventoryTotal assets$2.95BtotalAssetsResult 16.2% | 2.41xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$738.26MtotalRevenueNet PP&E$306.15MpropertyPlantAndEquipmentNetResult 2.41x | 0.24xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$23.52McapitalExpendituresD&A$96.96MdepreciationAndAmortizationResult 0.24x | $10.71Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.95BtotalAssetsGoodwill$1.11BgoodWillIntangibles$386.15MintangibleAssetsLiabilities$843.57MtotalLiabTangible book$605.57MShares56,561,000commonStockSharesOutstandingResult $10.71 | 3.55xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$182.51MebitdaCapex$23.52McapitalExpendituresInterest$23.17MinterestExpenseShort-term debt$21.56MshortTermDebtEBITDA − capex$158.99MPrincipal due is short-term debt.Result 3.55x | $93.90MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$117.42MtotalCashFromOperatingActivitiesCapex$23.52McapitalExpendituresFree cash flow$93.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $93.90M | 2.3%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$59.58MoperatingIncomeTax expense$13.49MincomeTaxExpensePretax income$62.38MincomeBeforeTaxTax rate21.6%Equity$2.11BtotalStockholderEquityDebt$689.95MshortLongTermDebtTotalCash$767.63McashAndShortTermInvestmentsInvested capital$2.03BResult 2.3% | 0.19xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$59.58MoperatingIncomeNet PP&E$306.15MpropertyPlantAndEquipmentNetResult 0.19x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $306.15M
Inventory: $170.46M
Total assets: $2.95B
Goodwill: $1.11B
Intangibles: $386.15M
Liabilities: $843.57M
Tangible book: $605.57M
Shares: 56,561,000
Revenue: $738.26M
Capex: $23.52M
D&A: $96.96M
EBITDA: $182.51M
Interest: $23.17M
Short-term debt: $21.56M
Free cash flow: $93.90M
Operating income: $59.58M
Invested capital: $2.03B
Tax rate: 21.6%