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 J. M. Smucker Company
Physical assets are 26.6% of total assets, a light footprint. Capex is 0.57x 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 0.59x, which is below 1.
Fixed-asset turnover is 2.85x. Compare it with other names in the same basket.
Physical asset ratio
26.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2.85x
Revenue per dollar of the physical asset base.
Capex / D&A
0.57x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$50.09
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—
Price $125.94.
Fixed-charge coverage
0.59x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
8.6%
Latest free cash flow divided by current market cap ($13.45B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.42x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 16.9% | 4.10x | 0.81x | -$44.50 | 0.70x | $781.40M | 4.9% | 0.49x |
| 2020 | 17.8% | 3.68x | 0.60x | -$39.85 | 3.19x | $985.50M | 6.8% | 0.58x |
| 2021 | 19.1% | 3.73x | 0.68x | -$35.05 | 1.06x | $1.26B | 8.2% | 0.65x |
| 2022 | 20.7% | 3.57x | 0.91x | -$32.55 | 3.07x | $718.80M | 6.1% | 0.46x |
| 2023 | 21.7% | 3.81x | 1.09x | -$22.18 | 0.56x | $717.00M | — | 0.07x |
| 2024 | 21.1% | 2.52x | 1.36x | -$69.07 | 0.60x | $642.90M | 6.0% | 0.40x |
| 2025 | 25.1% | 2.73x | 0.78x | -$56.15 | -0.53x | $816.60M | — | -0.21x |
| 2026 | 26.6% | 2.85x | 0.57x | -$50.09 | 0.59x | $1.16B | — | 0.42x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2026)
Net PP&E: $3.18B
Inventory: $1.13B
Total assets: $16.22B
Goodwill: $5.21B
Intangibles: $5.68B
Liabilities: $10.68B
Tangible book: -$5.34B
Shares: 106,700,000
Revenue: $9.05B
Capex: $317.40M
D&A: $557.00M
EBITDA: $875.80M
Interest: $381.20M
Short-term debt: $570.90M
Free cash flow: $1.16B
Operating income: $1.34B
Invested capital: $12.57B
Tax rate: —