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.
Banco de Sabadell S.A
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.71x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.77x, which is below 1.
Fixed-asset turnover is 3.93x. Compare it with other names in the same basket.
Physical asset ratio
0.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.93x
Revenue per dollar of the physical asset base.
Capex / D&A
0.71x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€2.09
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.73x
Price €3.62.
Fixed-charge coverage
0.77x
EBITDA minus capex, divided by interest only.
FCF yield
8.1%
Latest free cash flow divided by current market cap (€17.02B).
ROIC
5.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.05x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -13.3% | 3.10x | 1.91x | €1.71 | 0.11x | -€4.20B | 16.3% | 0.89x |
| 2019 | -7.5% | 1.84x | 1.66x | €1.88 | 0.06x | -€11.17B | 3.4% | 0.32x |
| 2020 | 1.6% | 2.03x | 1.31x | €1.77 | -0.04x | €19.74B | — | -0.04x |
| 2021 | -19.8% | 1.70x | 0.95x | €1.86 | 0.09x | €11.84B | — | 0.49x |
| 2022 | 1.3% | 1.68x | 0.80x | €1.92 | 0.04x | -€7.06B | — | 0.49x |
| 2023 | 0.9% | 2.41x | 1.03x | €2.11 | 0.07x | -€11.06B | 53.4% | 0.91x |
| 2024 | 0.8% | 4.52x | 0.46x | €2.32 | 0.11x | €5.82B | 5.0% | 1.06x |
| 2025 | 0.8% | 3.93x | 0.71x | €2.09 | 0.77x | €1.38B | 5.5% | 1.05x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
Latest year inputs (2025)
Net PP&E: €1.98B
Inventory: €0.00
Total assets: €245.39B
Goodwill: €1.03B
Intangibles: €1.47B
Liabilities: €231.31B
Tangible book: €11.59B
Shares: 5,540,625,000
Revenue: €7.77B
Capex: €298.48M
D&A: €421.00M
EBITDA: €2.32B
Interest: €2.65B
Short-term debt: —
Free cash flow: €1.38B
Operating income: €2.08B
Invested capital: €24.18B
Tax rate: 36.0%