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.
SThree plc
Physical assets are 11.2% of total assets, a light footprint. Capex is 0.19x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 7.4%, below an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 24.09x.
Physical asset ratio
11.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
24.09x
Revenue per dollar of the physical asset base.
Capex / D&A
0.19x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
GBX 1.68
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
189.40x
Price GBX 319.00.
Fixed-charge coverage
3.32x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
14.6%
Latest free cash flow divided by current market cap (GBX 385.21M).
ROIC
7.4%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.50x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 1.9% | 181.95x | 0.54x | GBX 0.69 | 1.02x | GBX 12.55M | 37.2% | 7.80x |
| 2019 | 2.2% | 194.69x | 0.76x | GBX 0.81 | 15.55x | GBX 35.66M | 39.3% | 8.43x |
| 2020 | 12.1% | 29.46x | 0.28x | GBX 0.90 | 26.14x | GBX 61.23M | 29.5% | 0.93x |
| 2021 | 9.5% | 34.95x | 0.15x | GBX 1.13 | 85.21x | GBX 35.14M | 42.6% | 1.60x |
| 2022 | -66.3% | 46.51x | 0.19x | GBX 1.46 | 85.25x | GBX 41.93M | 40.4% | 2.20x |
| 2023 | 7.3% | 53.45x | 0.52x | GBX 1.60 | 7.20x | GBX 67.83M | 33.4% | 2.52x |
| 2024 | 9.1% | 32.30x | 0.45x | GBX 1.76 | 50.56x | GBX 32.85M | 27.2% | 1.43x |
| 2025 | 11.2% | 24.09x | 0.19x | GBX 1.68 | 3.32x | GBX 56.21M | 7.4% | 0.50x |
- 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 short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: GBX 54.05M
Inventory: GBX 0.00
Total assets: GBX 483.41M
Goodwill: GBX 838.00K
Intangibles: GBX 15.13M
Liabilities: GBX 248.31M
Tangible book: GBX 219.13M
Shares: 130,100,000
Revenue: GBX 1.30B
Capex: GBX 3.39M
D&A: GBX 17.68M
EBITDA: GBX 45.28M
Interest: GBX 2.07M
Short-term debt: GBX 10.55M
Free cash flow: GBX 56.21M
Operating income: GBX 26.91M
Invested capital: GBX 251.59M
Tax rate: 30.8%