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.
Saab AB (publ)
Physical assets are 38.1% of total assets, a mixed footprint. Capex is 1.99x 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 15.8%, above an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 3.59x.
Physical asset ratio
38.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.59x
Revenue per dollar of the physical asset base.
Capex / D&A
1.99x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
SEK 57.60
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
11.25x
Price SEK 648.10.
Fixed-charge coverage
2.71x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.7%
Latest free cash flow divided by current market cap (SEK 348.34B).
ROIC
15.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.34x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 28.1% | 5.12x | 3.85x | SEK 22.57 | -0.06x | -SEK 3.31B | 10.0% | 0.35x |
| 2019 | 32.8% | 3.88x | 2.28x | SEK 19.31 | 0.83x | -SEK 1.61B | 9.7% | 0.32x |
| 2020 | 32.6% | 3.73x | 2.25x | SEK 18.91 | -0.06x | SEK 2.91B | 1.2% | 0.03x |
| 2021 | 33.2% | 3.91x | 1.82x | SEK 20.79 | 1.03x | SEK 3.19B | 10.9% | 0.29x |
| 2022 | 34.9% | 3.80x | 1.09x | SEK 32.96 | 3.88x | SEK 2.34B | 10.0% | 0.30x |
| 2023 | 35.3% | 4.14x | 2.12x | SEK 36.13 | 3.68x | SEK 2.92B | 12.1% | 0.35x |
| 2024 | 37.7% | 4.04x | 1.83x | SEK 42.31 | 4.40x | SEK 1.89B | 13.2% | 0.36x |
| 2025 | 38.1% | 3.59x | 1.99x | SEK 57.60 | 2.71x | SEK 5.99B | 15.8% | 0.34x |
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: SEK 22.05B
Inventory: SEK 25.44B
Total assets: SEK 124.70B
Goodwill: SEK 5.29B
Intangibles: SEK 7.30B
Liabilities: SEK 81.03B
Tangible book: SEK 31.09B
Shares: 539,792,000
Revenue: SEK 79.15B
Capex: SEK 6.11B
D&A: SEK 3.07B
EBITDA: SEK 11.71B
Interest: SEK 755.00M
Short-term debt: SEK 1.31B
Free cash flow: SEK 5.99B
Operating income: SEK 7.53B
Invested capital: SEK 37.76B
Tax rate: 20.7%