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.
Spectrum Brands Holdings Inc
Physical assets are 22.9% of total assets, a light footprint. Capex is 0.39x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 5.1%, below an 8% cost-of-capital hurdle.
Fixed-asset turnover is 8.55x. Compare it with other names in the same basket.
Physical asset ratio
22.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
8.55x
Revenue per dollar of the physical asset base.
Capex / D&A
0.39x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$4.07
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
19.40x
Price $78.86.
Fixed-charge coverage
4.24x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
9.4%
Latest free cash flow divided by current market cap ($1.77B).
ROIC
5.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.38x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 13.9% | 7.62x | 0.61x | -$40.73 | 0.97x | $267.40M | — | 0.45x |
| 2019 | 19.1% | 5.40x | 0.40x | -$21.82 | -0.36x | -$39.30M | — | -0.34x |
| 2020 | 14.0% | 6.61x | 0.53x | -$5.77 | 1.70x | $229.30M | — | 0.02x |
| 2021 | 16.5% | 9.47x | 0.37x | -$13.71 | 1.63x | $244.80M | — | 0.31x |
| 2022 | 19.5% | 9.05x | 0.64x | -$21.67 | 0.36x | -$117.80M | — | 0.07x |
| 2023 | 16.1% | 7.56x | 0.65x | $15.28 | -0.97x | -$468.70M | — | -0.53x |
| 2024 | 21.6% | 8.04x | 0.43x | $9.39 | 3.55x | $118.60M | 4.3% | 0.46x |
| 2025 | 22.9% | 8.55x | 0.39x | $4.07 | 4.24x | $165.80M | 5.1% | 0.38x |
- 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: $328.50M
Inventory: $446.10M
Total assets: $3.38B
Goodwill: $866.80M
Intangibles: $937.60M
Liabilities: $1.47B
Tangible book: $105.30M
Shares: 25,900,000
Revenue: $2.81B
Capex: $38.30M
D&A: $98.00M
EBITDA: $215.20M
Interest: $30.00M
Short-term debt: $11.70M
Free cash flow: $165.80M
Operating income: $124.90M
Invested capital: $2.44B
Tax rate: 0.0%