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.
Space Exploration Technologies Corp. Class A Common Stock
Physical assets are 50.3% of total assets, a heavy footprint. Capex is 3.09x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -5.73x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 0.43x.
Physical asset ratio
50.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.43x
Revenue per dollar of the physical asset base.
Capex / D&A
3.09x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$14.31
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
10.38x
Price $148.62.
Fixed-charge coverage
-5.73x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-0.7%
Latest free cash flow divided by current market cap ($2,005.74B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.06x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2024 | 43.5% | 0.61x | 2.92x | $5.85 | -2.83x | -$5.39B | 2.6% | 0.03x |
| 2025 | 50.3% | 0.43x | 3.09x | $14.31 | -5.73x | -$13.95B | — | -0.06x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $43.86B
Inventory: $2.42B
Total assets: $92.08B
Goodwill: $11.81B
Intangibles: $1.55B
Liabilities: $50.75B
Tangible book: $27.97B
Shares: 1,954,000,000
Revenue: $18.67B
Capex: $20.74B
D&A: $6.70B
EBITDA: $4.29B
Interest: $1.95B
Short-term debt: $928.00M
Free cash flow: -$13.95B
Operating income: -$2.59B
Invested capital: $39.47B
Tax rate: —