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.
Vital Farms Inc
Physical assets are 59.3% of total assets, a heavy footprint. Capex is 5.92x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. ROIC is 22.0%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 3.15x. Compare it with other names in the same basket.
Physical asset ratio
59.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.15x
Revenue per dollar of the physical asset base.
Capex / D&A
5.92x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$7.30
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.17x
Price $8.55.
Fixed-charge coverage
2.14x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-13.1%
Latest free cash flow divided by current market cap ($367.06M).
ROIC
22.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.37x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 45.2% | 5.72x | 1.35x | $0.64 | 5.73x | $9.48M | — | 0.36x |
| 2019 | 57.2% | 6.27x | 2.50x | $0.75 | 0.75x | -$10.15M | 18.5% | 0.15x |
| 2020 | 25.1% | 7.11x | 4.04x | $4.21 | 4.58x | $1.40M | 20.7% | 0.41x |
| 2021 | 29.2% | 5.85x | 4.72x | $3.41 | -33.68x | $971.00K | 0.1% | 0.00x |
| 2022 | 40.9% | 5.93x | 1.94x | $3.55 | -0.75x | -$18.66M | 1.4% | 0.03x |
| 2023 | 39.5% | 6.23x | 1.46x | $4.36 | 4.14x | $39.37M | 26.8% | 0.44x |
| 2024 | 35.6% | 5.82x | 2.19x | $5.88 | 6.03x | $35.76M | 39.3% | 0.61x |
| 2025 | 59.3% | 3.15x | 5.92x | $7.30 | 2.14x | -$48.24M | 22.0% | 0.37x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $240.99M
Inventory: $66.50M
Total assets: $518.74M
Goodwill: $15.20M
Intangibles: $0.00
Liabilities: $167.48M
Tangible book: $336.06M
Shares: 46,019,607
Revenue: $759.44M
Capex: $81.95M
D&A: $13.84M
EBITDA: $105.98M
Interest: $874.00K
Short-term debt: $10.34M
Free cash flow: -$48.24M
Operating income: $88.37M
Invested capital: $291.40M
Tax rate: 27.4%