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.
Stellantis NV
Physical assets are 33.4% of total assets, a mixed footprint. Capex is 1.54x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -1.78x, which is below 1.
Fixed-asset turnover is 3.57x. Compare it with other names in the same basket.
Physical asset ratio
33.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$42.96BpropertyPlantAndEquipmentNetInventory$22.15BinventoryTotal assets$195.15BtotalAssetsResult 33.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.57xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$153.51BtotalRevenueNet PP&E$42.96BpropertyPlantAndEquipmentNetResult 3.57x
Revenue per dollar of the physical asset base.
Capex / D&A
1.54xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$10.74BcapitalExpendituresD&A$6.98BdepreciationAndAmortizationResult 1.54x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$3.16Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$195.15BtotalAssetsGoodwill$14.01BgoodWillIntangibles$30.88BintangibleAssetsLiabilities$141.15BtotalLiabTangible book$9.12BShares2,886,684,000commonStockSharesOutstandingResult $3.16
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.42xPrice / tangible bookPrice / tangible book per sharePrice$4.49Latest quoteTangible book / share$3.162025-12-31Result 1.42x
Price $4.49.
Fixed-charge coverage
-1.78xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$15.25BebitdaCapex$10.74BcapitalExpendituresInterest$1.27BinterestExpenseShort-term debt$13.30BshortLongTermDebtEBITDA − capex-$25.99BPrincipal due is the current portion of debt.Result -1.78x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-125.6%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$16.20BfreeCashFlowMarket cap$12.90BMarketCapitalizationResult -125.6%
Latest free cash flow divided by current market cap ($12.90B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$22.23BoperatingIncomeTax expense-$4.27BincomeTaxExpensePretax income-$26.61BincomeBeforeTaxTax rate—Equity$53.55BtotalStockholderEquityDebt$45.95BshortLongTermDebtTotalCash$31.32BcashAndShortTermInvestmentsInvested capital$68.18BROIC needs a positive pretax income so an effective tax rate can be calculated.Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.52x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 38.2%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$26.31BpropertyPlantAndEquipmentNetInventory$10.69BinventoryTotal assets$96.87BtotalAssetsResult 38.2% | 4.20xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$110.41BtotalRevenueNet PP&E$26.31BpropertyPlantAndEquipmentNetResult 4.20x | 0.98xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$5.39BcapitalExpendituresD&A$5.51BdepreciationAndAmortizationResult 0.98x | -$0.52Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$96.87BtotalAssetsGoodwill$10.83BgoodWillIntangibles$14.89BintangibleAssetsLiabilities$71.97BtotalLiabTangible book-$816.00MShares1,567,839,000commonStockSharesOutstandingResult -$0.52 | 0.79xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$10.78BebitdaCapex$5.39BcapitalExpendituresInterest$957.00MinterestExpenseShort-term debt$5.86BshortTermDebtEBITDA − capex$5.39BPrincipal due is short-term debt.Result 0.79x | $4.56BFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$9.95BtotalCashFromOperatingActivitiesCapex$5.39BcapitalExpendituresFree cash flow$4.56BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4.56B | 16.2%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.27BoperatingIncomeTax expense$778.00MincomeTaxExpensePretax income$4.11BincomeBeforeTaxTax rate18.9%Equity$24.70BtotalStockholderEquityDebt$14.53BshortLongTermDebtTotalCash$12.78BcashAndShortTermInvestmentsInvested capital$26.45BResult 16.2% | 0.20xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$5.27BoperatingIncomeNet PP&E$26.31BpropertyPlantAndEquipmentNetResult 0.20x |
| 2019 | 39.1%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$28.61BpropertyPlantAndEquipmentNetInventory$9.72BinventoryTotal assets$98.04BtotalAssetsResult 39.1% | 3.78xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$108.19BtotalRevenueNet PP&E$28.61BpropertyPlantAndEquipmentNetResult 3.78x | 1.54xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$8.39BcapitalExpendituresD&A$5.45BdepreciationAndAmortizationResult 1.54x | $1.25Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$98.04BtotalAssetsGoodwill$11.07BgoodWillIntangibles$15.64BintangibleAssetsLiabilities$69.37BtotalLiabTangible book$1.97BShares1,570,850,000commonStockSharesOutstandingResult $1.25 | 0.37xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$10.40BebitdaCapex$8.39BcapitalExpendituresInterest$937.00MinterestExpenseShort-term debt$4.52BshortLongTermDebtEBITDA − capex$2.02BPrincipal due is the current portion of debt.Result 0.37x | $2.08BFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$10.46BtotalCashFromOperatingActivitiesCapex$8.39BcapitalExpendituresFree cash flow$2.08BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.08B | 13.5%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.19BoperatingIncomeTax expense$1.32BincomeTaxExpensePretax income$4.02BincomeBeforeTaxTax rate32.9%Equity$28.54BtotalStockholderEquityDebt$12.90BshortLongTermDebtTotalCash$15.59BcashAndShortTermInvestmentsInvested capital$25.85BResult 13.5% | 0.18xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$5.19BoperatingIncomeNet PP&E$28.61BpropertyPlantAndEquipmentNetResult 0.18x |
| 2020 | 35.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$27.58BpropertyPlantAndEquipmentNetInventory$8.09BinventoryTotal assets$99.73BtotalAssetsResult 35.8% | 3.14xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$86.68BtotalRevenueNet PP&E$27.58BpropertyPlantAndEquipmentNetResult 3.14x | 1.67xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$8.60BcapitalExpendituresD&A$5.14BdepreciationAndAmortizationResult 1.67x | $0.18Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$99.73BtotalAssetsGoodwill$10.13BgoodWillIntangibles$15.44BintangibleAssetsLiabilities$73.87BtotalLiabTangible book$287.00MShares1,626,940,000commonStockSharesOutstandingResult $0.18 | -0.05xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$8.40BebitdaCapex$8.60BcapitalExpendituresInterest$191.00MinterestExpenseShort-term debt$3.73BshortLongTermDebtEBITDA − capex-$205.00MPrincipal due is the current portion of debt.Result -0.05x | $583.00MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$9.18BtotalCashFromOperatingActivitiesCapex$8.60BcapitalExpendituresFree cash flow$583.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $583.00M | 11.8%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3.25BoperatingIncomeTax expense$504.00MincomeTaxExpensePretax income$2.84BincomeBeforeTaxTax rate17.7%Equity$25.74BtotalStockholderEquityDebt$21.12BshortLongTermDebtTotalCash$24.20BcashAndShortTermInvestmentsInvested capital$22.66BResult 11.8% | 0.12xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$3.25BoperatingIncomeNet PP&E$27.58BpropertyPlantAndEquipmentNetResult 0.12x |
| 2021 | 27.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$35.49BpropertyPlantAndEquipmentNetInventory$11.36BinventoryTotal assets$171.77BtotalAssetsResult 27.3% | 4.21xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$149.42BtotalRevenueNet PP&E$35.49BpropertyPlantAndEquipmentNetResult 4.21x | 1.72xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$10.11BcapitalExpendituresD&A$5.87BdepreciationAndAmortizationResult 1.72x | $3.09Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$171.77BtotalAssetsGoodwill$14.38BgoodWillIntangibles$32.18BintangibleAssetsLiabilities$115.46BtotalLiabTangible book$9.75BShares3,151,432,000commonStockSharesOutstandingResult $3.09 | 1.12xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$22.47BebitdaCapex$10.11BcapitalExpendituresInterest$484.00MinterestExpenseShort-term debt$10.53BshortLongTermDebtEBITDA − capex$12.35BPrincipal due is the current portion of debt.Result 1.12x | $8.53BFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$18.65BtotalCashFromOperatingActivitiesCapex$10.11BcapitalExpendituresFree cash flow$8.53BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $8.53B | 34.5%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$15.13BoperatingIncomeTax expense$1.91BincomeTaxExpensePretax income$14.39BincomeBeforeTaxTax rate13.3%Equity$55.91BtotalStockholderEquityDebt$33.58BshortLongTermDebtTotalCash$51.41BcashAndShortTermInvestmentsInvested capital$38.08BResult 34.5% | 0.43xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$15.13BoperatingIncomeNet PP&E$35.49BpropertyPlantAndEquipmentNetResult 0.43x |
| 2022 | 28.8%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$36.21BpropertyPlantAndEquipmentNetInventory$17.36BinventoryTotal assets$186.16BtotalAssetsResult 28.8% | 4.96xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$179.59BtotalRevenueNet PP&E$36.21BpropertyPlantAndEquipmentNetResult 4.96x | 1.33xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$9.01BcapitalExpendituresD&A$6.80BdepreciationAndAmortizationResult 1.33x | $6.84Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$186.16BtotalAssetsGoodwill$15.51BgoodWillIntangibles$35.24BintangibleAssetsLiabilities$113.77BtotalLiabTangible book$21.64BShares3,163,959,000commonStockSharesOutstandingResult $6.84 | 2.34xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$27.88BebitdaCapex$9.01BcapitalExpendituresInterest$1.02BinterestExpenseShort-term debt$7.05BshortLongTermDebtEBITDA − capex$18.87BPrincipal due is the current portion of debt.Result 2.34x | $10.95BFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$19.96BtotalCashFromOperatingActivitiesCapex$9.01BcapitalExpendituresFree cash flow$10.95BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $10.95B | 37.1%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$21.08BoperatingIncomeTax expense$2.73BincomeTaxExpensePretax income$19.51BincomeBeforeTaxTax rate14.0%Equity$72.00BtotalStockholderEquityDebt$27.15BshortLongTermDebtTotalCash$50.27BcashAndShortTermInvestmentsInvested capital$48.88BResult 37.1% | 0.58xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$21.08BoperatingIncomeNet PP&E$36.21BpropertyPlantAndEquipmentNetResult 0.58x |
| 2023 | 29.1%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$37.69BpropertyPlantAndEquipmentNetInventory$21.20BinventoryTotal assets$202.13BtotalAssetsResult 29.1% | 5.03xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$189.54BtotalRevenueNet PP&E$37.69BpropertyPlantAndEquipmentNetResult 5.03x | 1.35xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$10.19BcapitalExpendituresD&A$7.55BdepreciationAndAmortizationResult 1.35x | $9.74Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$202.13BtotalAssetsGoodwill$15.17BgoodWillIntangibles$36.45BintangibleAssetsLiabilities$120.01BtotalLiabTangible book$30.50BShares3,132,458,000commonStockSharesOutstandingResult $9.74 | 2.06xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$30.53BebitdaCapex$10.19BcapitalExpendituresInterest$1.13BinterestExpenseShort-term debt$8.74BshortLongTermDebtEBITDA − capex$20.34BPrincipal due is the current portion of debt.Result 2.06x | $12.29BFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$22.49BtotalCashFromOperatingActivitiesCapex$10.19BcapitalExpendituresFree cash flow$12.29BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $12.29B | 30.4%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$22.98BoperatingIncomeTax expense$3.79BincomeTaxExpensePretax income$22.42BincomeBeforeTaxTax rate16.9%Equity$81.69BtotalStockholderEquityDebt$29.46BshortLongTermDebtTotalCash$48.41BcashAndShortTermInvestmentsInvested capital$62.75BResult 30.4% | 0.61xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$22.98BoperatingIncomeNet PP&E$37.69BpropertyPlantAndEquipmentNetResult 0.61x |
| 2024 | 31.7%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$45.01BpropertyPlantAndEquipmentNetInventory$20.86BinventoryTotal assets$207.61BtotalAssetsResult 31.7% | 3.49xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$156.88BtotalRevenueNet PP&E$45.01BpropertyPlantAndEquipmentNetResult 3.49x | 1.53xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$11.06BcapitalExpendituresD&A$7.23BdepreciationAndAmortizationResult 1.53x | $9.33Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$207.61BtotalAssetsGoodwill$15.34BgoodWillIntangibles$39.02BintangibleAssetsLiabilities$125.49BtotalLiabTangible book$27.75BShares2,975,820,000commonStockSharesOutstandingResult $9.33 | 0.13xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$12.66BebitdaCapex$11.06BcapitalExpendituresInterest$1.31BinterestExpenseShort-term debt$11.34BshortLongTermDebtEBITDA − capex$1.60BPrincipal due is the current portion of debt.Result 0.13x | -$7.05BFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$4.01BtotalCashFromOperatingActivitiesCapex$11.06BcapitalExpendituresFree cash flow-$7.05BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$7.05B | 6.6%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.44BoperatingIncomeTax expense-$1.49BincomeTaxExpensePretax income$4.03BincomeBeforeTaxTax rate0.0%Equity$81.69BtotalStockholderEquityDebt$37.23BshortLongTermDebtTotalCash$37.08BcashAndShortTermInvestmentsInvested capital$81.84BResult 6.6% | 0.12xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$5.44BoperatingIncomeNet PP&E$45.01BpropertyPlantAndEquipmentNetResult 0.12x |
| 2025 | 33.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$42.96BpropertyPlantAndEquipmentNetInventory$22.15BinventoryTotal assets$195.15BtotalAssetsResult 33.4% | 3.57xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$153.51BtotalRevenueNet PP&E$42.96BpropertyPlantAndEquipmentNetResult 3.57x | 1.54xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$10.74BcapitalExpendituresD&A$6.98BdepreciationAndAmortizationResult 1.54x | $3.16Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$195.15BtotalAssetsGoodwill$14.01BgoodWillIntangibles$30.88BintangibleAssetsLiabilities$141.15BtotalLiabTangible book$9.12BShares2,886,684,000commonStockSharesOutstandingResult $3.16 | -1.78xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$15.25BebitdaCapex$10.74BcapitalExpendituresInterest$1.27BinterestExpenseShort-term debt$13.30BshortLongTermDebtEBITDA − capex-$25.99BPrincipal due is the current portion of debt.Result -1.78x | -$16.20BFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$5.46BtotalCashFromOperatingActivitiesCapex$10.74BcapitalExpendituresFree cash flow-$16.20BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$16.20B | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$22.23BoperatingIncomeTax expense-$4.27BincomeTaxExpensePretax income-$26.61BincomeBeforeTaxTax rate—Equity$53.55BtotalStockholderEquityDebt$45.95BshortLongTermDebtTotalCash$31.32BcashAndShortTermInvestmentsInvested capital$68.18BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.52xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$22.23BoperatingIncomeNet PP&E$42.96BpropertyPlantAndEquipmentNetResult -0.52x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $42.96B
Inventory: $22.15B
Total assets: $195.15B
Goodwill: $14.01B
Intangibles: $30.88B
Liabilities: $141.15B
Tangible book: $9.12B
Shares: 2,886,684,000
Revenue: $153.51B
Capex: $10.74B
D&A: $6.98B
EBITDA: -$15.25B
Interest: $1.27B
Short-term debt: $13.30B
Free cash flow: -$16.20B
Operating income: -$22.23B
Invested capital: $68.18B
Tax rate: —