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.
The Charles Schwab Corporation
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 0.40x 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 0.98x, which is below 1.
Fixed-asset turnover is 7.29x. 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
7.29x
Revenue per dollar of the physical asset base.
Capex / D&A
0.40x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
BRL 17.20
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.49x
Price BRL 59.99.
Fixed-charge coverage
0.98x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.1%
Latest free cash flow divided by current market cap (BRL 833.40B).
ROIC
25.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 3.02x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.6% | 6.21x | 1.86x | BRL 14.48 | 0.02x | BRL 11.89B | — | 2.58x |
| 2019 | 0.9% | 4.36x | 2.03x | BRL 15.86 | 0.02x | BRL 8.62B | — | 1.79x |
| 2020 | 0.7% | 3.17x | 1.04x | BRL 18.14 | 0.01x | BRL 6.22B | 11.2% | 1.13x |
| 2021 | 0.6% | 4.32x | 0.79x | BRL 18.45 | 1.49x | BRL 1.20B | 34.3% | 1.80x |
| 2022 | 0.8% | 4.84x | 0.78x | BRL 8.56 | 0.52x | BRL 1.09B | 21.0% | 2.04x |
| 2023 | 0.9% | 5.91x | 0.63x | BRL 11.38 | 0.17x | -BRL 3.40B | 8.9% | 1.48x |
| 2024 | 0.8% | 6.62x | 0.43x | BRL 15.66 | 0.29x | BRL 2.05B | 11.6% | 1.96x |
| 2025 | 0.8% | 7.29x | 0.40x | BRL 17.20 | 0.98x | BRL 8.76B | 25.8% | 3.02x |
- Inventory was missing and treated as zero in the physical asset ratio.
- 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: BRL 3.80B
Inventory: BRL 0.00
Total assets: BRL 491.00B
Goodwill: BRL 11.95B
Intangibles: BRL 7.23B
Liabilities: BRL 441.57B
Tangible book: BRL 30.24B
Shares: 1,758,325,075
Revenue: BRL 27.68B
Capex: BRL 548.00M
D&A: BRL 1.36B
EBITDA: BRL 12.82B
Interest: BRL 3.75B
Short-term debt: BRL 8.76B
Free cash flow: BRL 8.76B
Operating income: BRL 11.46B
Invested capital: BRL 34.31B
Tax rate: 22.8%