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 Charles Schwab Corporation
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.40x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Fixed-asset turnover is 6.30x. Compare it with other names in the same basket.
Physical asset ratio
0.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
6.30x
Revenue per dollar of the physical asset base.
Capex / D&A
0.40x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€17.20
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
4.87x
Price €83.74.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
6.1%
Latest free cash flow divided by current market cap (€144.81B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.6% | 5.73x | 1.86x | €14.48 | 5.02x | €11.89B | — | 2.58x |
| 2019 | 0.9% | 3.96x | 2.03x | €15.86 | 4.28x | €8.62B | — | 1.82x |
| 2020 | 0.7% | 3.06x | 1.04x | €18.14 | — | €6.22B | — | — |
| 2021 | 0.6% | 4.32x | 0.79x | €18.45 | — | €1.20B | — | — |
| 2022 | 0.8% | 4.51x | 0.78x | €8.56 | — | €1.09B | — | — |
| 2023 | 0.9% | 4.36x | 0.63x | €11.38 | — | -€3.40B | — | — |
| 2024 | 0.8% | 4.99x | 0.43x | €15.66 | — | €2.05B | — | — |
| 2025 | 0.8% | 6.30x | 0.40x | €17.20 | — | €8.76B | — | — |
- 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 the current portion of debt.
Latest year inputs (2025)
Net PP&E: €3.80B
Inventory: €0.00
Total assets: €491.00B
Goodwill: €11.95B
Intangibles: €7.23B
Liabilities: €441.57B
Tangible book: €30.24B
Shares: 1,758,325,075
Revenue: €23.92B
Capex: €548.00M
D&A: €1.36B
EBITDA: —
Interest: €3.75B
Short-term debt: €8.76B
Free cash flow: €8.76B
Operating income: —
Invested capital: €34.31B
Tax rate: 22.8%