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.
Roche Holding AG Participation
Physical assets are 30.2% of total assets, a mixed footprint. Capex is 1.71x 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. ROIC is 23.5%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 2.76x. Compare it with other names in the same basket.
Physical asset ratio
30.2%
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
1.71x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$13.91
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
32.86x
Price $457.03.
Fixed-charge coverage
2.87x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.6%
Latest free cash flow divided by current market cap ($364.15B).
ROIC
23.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.81x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 36.2% | 2.61x | 1.13x | $14.14 | 19.40x | $15.06B | 47.8% | 0.68x |
| 2019 | 35.4% | 2.64x | 0.82x | $17.59 | 23.00x | $17.49B | 50.0% | 0.75x |
| 2020 | 35.4% | 2.51x | 0.77x | $21.69 | 4.30x | $11.88B | 32.2% | 0.80x |
| 2021 | 34.8% | 2.57x | 0.83x | $6.34 | 1.19x | $16.43B | 29.6% | 0.74x |
| 2022 | 37.2% | 2.61x | 0.90x | $14.40 | 3.74x | $13.86B | 27.7% | 0.72x |
| 2023 | 33.9% | 2.63x | 1.34x | $11.35 | 2.57x | $11.45B | 25.4% | 0.67x |
| 2024 | 30.8% | 2.63x | 1.46x | $13.78 | 2.18x | $15.09B | 16.4% | 0.57x |
| 2025 | 30.2% | 2.76x | 1.71x | $13.91 | 2.87x | $13.07B | 23.5% | 0.81x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $22.93B
Inventory: $7.48B
Total assets: $100.70B
Goodwill: $7.49B
Intangibles: $19.32B
Liabilities: $62.82B
Tangible book: $11.07B
Shares: 795,617,637
Revenue: $63.36B
Capex: $5.78B
D&A: $3.39B
EBITDA: $21.71B
Interest: $1.35B
Short-term debt: $4.21B
Free cash flow: $13.07B
Operating income: $18.48B
Invested capital: $63.93B
Tax rate: 18.7%