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.
AB Volvo (publ)
Physical assets are 29.3% of total assets, a light footprint. Capex is 1.00x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.43x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 3.85x.
Physical asset ratio
29.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.85x
Revenue per dollar of the physical asset base.
Capex / D&A
1.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
SEK 64.89
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
4.98x
Price SEK 323.20.
Fixed-charge coverage
0.43x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
4.2%
Latest free cash flow divided by current market cap (SEK 646.43B).
ROIC
10.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.39x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 34.7% | 3.96x | 1.38x | SEK 43.15 | 0.54x | SEK 10.32B | 12.5% | 0.35x |
| 2019 | 29.2% | 4.46x | 1.30x | SEK 51.64 | 0.75x | SEK 17.04B | 15.8% | 0.51x |
| 2020 | 26.4% | 3.89x | 0.97x | SEK 55.85 | 0.45x | SEK 13.29B | 9.4% | 0.32x |
| 2021 | 30.7% | 3.95x | 1.17x | SEK 52.64 | 0.85x | SEK 11.81B | 13.6% | 0.46x |
| 2022 | 29.0% | 4.44x | 1.25x | SEK 61.32 | 0.59x | SEK 7.40B | 11.1% | 0.43x |
| 2023 | 27.8% | 5.01x | 0.62x | SEK 67.99 | 0.81x | SEK 8.28B | 14.8% | 0.61x |
| 2024 | 28.5% | 4.21x | 0.86x | SEK 75.25 | 0.69x | SEK 28.06B | 13.2% | 0.53x |
| 2025 | 29.3% | 3.85x | 1.00x | SEK 64.89 | 0.43x | SEK 27.25B | 10.1% | 0.39x |
- 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: SEK 124.31B
Inventory: SEK 65.96B
Total assets: SEK 648.59B
Goodwill: SEK 23.66B
Intangibles: SEK 22.90B
Liabilities: SEK 470.11B
Tangible book: SEK 131.92B
Shares: 2,033,000,000
Revenue: SEK 479.18B
Capex: SEK 18.34B
D&A: SEK 18.40B
EBITDA: SEK 66.46B
Interest: SEK 1.82B
Short-term debt: SEK 110.58B
Free cash flow: SEK 27.25B
Operating income: SEK 48.31B
Invested capital: SEK 351.89B
Tax rate: 26.8%