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 Energy Inc.
Physical assets are 87.1% of total assets, a heavy footprint. Capex is 2.34x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -4.32x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 0.38x.
Physical asset ratio
87.1%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.10BpropertyPlantAndEquipmentNetInventory$17.29MinventoryTotal assets$5.88BtotalAssetsResult 87.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.38xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$1.95BtotalRevenueNet PP&E$5.10BpropertyPlantAndEquipmentNetResult 0.38x
Revenue per dollar of the physical asset base.
Capex / D&A
2.34xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$1.74BcapitalExpendituresD&A$741.97MdepreciationAndAmortizationResult 2.34x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$73.53Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.88BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$3.18BtotalLiabTangible book$2.70BShares36,725,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $73.53
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / share$73.532024-12-31A live quote was not available, so price / tangible book could not be calculated.Result —
Quote unavailable.
Fixed-charge coverage
-4.32xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$690.34MebitdaCapex$1.74BcapitalExpendituresInterest$169.63MinterestExpenseShort-term debt$73.14MshortTermDebtEBITDA − capex-$1.05BPrincipal due is short-term debt.Result -4.32x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-106.5%Free cash flow yield · 2024-12-31Latest free cash flow / current market capFree cash flow-$738.36MfreeCashFlowMarket cap$693.44MMarketCapitalizationResult -106.5%
Latest free cash flow divided by current market cap ($693.44M).
ROIC
—ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$22.55MoperatingIncomeTax expense-$47.74MincomeTaxExpensePretax income-$221.26MincomeBeforeTaxTax rate—Equity$2.70BtotalStockholderEquityDebt$2.55BshortLongTermDebtTotalCash$40.18McashInvested capital$5.21BROIC 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 0.00x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2017 | 87.9%Physical asset ratio · 2017-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.77BpropertyPlantAndEquipmentNetInventory$9.15MinventoryTotal assets$2.02BtotalAssetsResult 87.9% | 0.46xFixed asset turnover · 2017-12-31Revenue / net PP&ERevenue$822.16MtotalRevenueNet PP&E$1.77BpropertyPlantAndEquipmentNetResult 0.46x | 3.50xCapex / D&A · 2017-12-31Capital expenditures / depreciation and amortizationCapex$566.91McapitalExpendituresD&A$162.18MdepreciationAndAmortizationResult 3.50x | $63.77Tangible book / share · 2017-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.02BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.26BtotalLiabTangible book$765.58MShares12,006,100commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $63.77 | 2.63xFixed-charge coverage · 2017-12-31(EBITDA − capex) / interestEBITDA$802.33MebitdaCapex$566.91McapitalExpendituresInterest$89.38MinterestExpenseEBITDA − capex$235.42MShort-term debt was not reported, so the denominator is interest only.Result 2.63x | -$182.00MFree cash flow · 2017-12-31Reported free cash flowOperating cash flow$384.91MtotalCashFromOperatingActivitiesCapex$566.91McapitalExpendituresFree cash flow-$182.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$182.00M | 17.2%ROIC · 2017-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$249.67MoperatingIncomeTax expense$1.80MincomeTaxExpensePretax income$550.77MincomeBeforeTaxTax rate0.3%Equity$765.58MtotalStockholderEquityDebt$791.86MshortLongTermDebtTotalCash$112.16McashInvested capital$1.45BResult 17.2% | 0.14xEBIT / PP&E · 2017-12-31Operating income / net PP&EOperating income$249.67MoperatingIncomeNet PP&E$1.77BpropertyPlantAndEquipmentNetResult 0.14x |
| 2018 | 92.5%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.20BpropertyPlantAndEquipmentNetInventory$39.84MinventoryTotal assets$2.42BtotalAssetsResult 92.5% | 0.50xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$1.11BtotalRevenueNet PP&E$2.20BpropertyPlantAndEquipmentNetResult 0.50x | 3.25xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$705.21McapitalExpendituresD&A$217.15MdepreciationAndAmortizationResult 3.25x | $100.71Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.42BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.25BtotalLiabTangible book$1.17BShares11,659,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $100.71 | -1.75xFixed-charge coverage · 2018-12-31(EBITDA − capex) / interestEBITDA$603.90MebitdaCapex$705.21McapitalExpendituresInterest$57.90MinterestExpenseEBITDA − capex-$101.32MShort-term debt was not reported, so the denominator is interest only.Result -1.75x | -$167.41MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$537.80MtotalCashFromOperatingActivitiesCapex$705.21McapitalExpendituresFree cash flow-$167.41MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$167.41M | 16.3%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$348.49MoperatingIncomeTax expense$4.25MincomeTaxExpensePretax income$328.84MincomeBeforeTaxTax rate1.3%Equity$1.17BtotalStockholderEquityDebt$983.64MshortLongTermDebtTotalCash$45.15McashInvested capital$2.11BResult 16.3% | 0.16xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$348.49MoperatingIncomeNet PP&E$2.20BpropertyPlantAndEquipmentNetResult 0.16x |
| 2019 | 89.8%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.03BpropertyPlantEquipmentInventory$5.48MinventoryTotal assets$2.26BtotalAssetsResult 89.8% | 0.41xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$837.28MtotalRevenueNet PP&E$2.03BpropertyPlantEquipmentResult 0.41x | 2.39xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$668.61McapitalExpendituresD&A$280.31MdepreciationAndAmortizationResult 2.39x | $72.80Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.26BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.42BtotalLiabTangible book$841.87MShares11,564,750commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $72.80 | -8.93xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$6.30MebitdaCapex$668.61McapitalExpendituresInterest$61.55MinterestExpenseShort-term debt$14.04MshortTermDebtEBITDA − capex-$674.91MPrincipal due is short-term debt.Result -8.93x | -$193.54MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$475.07MtotalCashFromOperatingActivitiesCapex$668.61McapitalExpendituresFree cash flow-$193.54MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$193.54M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$408.59MoperatingIncomeTax expense-$2.59MincomeTaxExpensePretax income-$345.05MincomeBeforeTaxTax rate—Equity$841.87MtotalStockholderEquityDebt$1.20BshortLongTermDebtTotalCash$40.86McashInvested capital$2.00BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.20xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$408.59MoperatingIncomeNet PP&E$2.03BpropertyPlantEquipmentResult -0.20x |
| 2020 | 89.6%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.29BpropertyPlantEquipmentInventory$3.20MinventoryTotal assets$1.44BtotalAssetsResult 89.6% | 0.53xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$677.19MtotalRevenueNet PP&E$1.29BpropertyPlantEquipmentResult 0.53x | 1.70xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$390.58McapitalExpendituresD&A$230.17MdepreciationAndAmortizationResult 1.70x | -$1.84Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.44BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.46BtotalLiabTangible book-$21.44MShares11,668,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$1.84 | -8.03xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$546.65MebitdaCapex$390.58McapitalExpendituresInterest$105.01MinterestExpenseShort-term debt$11.72MshortTermDebtEBITDA − capex-$937.22MPrincipal due is short-term debt.Result -8.03x | -$7.19MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$383.39MtotalCashFromOperatingActivitiesCapex$390.58McapitalExpendituresFree cash flow-$7.19MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$7.19M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$861.73MoperatingIncomeTax expense-$3.95MincomeTaxExpensePretax income-$878.12MincomeBeforeTaxTax rate—Equity-$21.44MtotalStockholderEquityDebt$1.20BshortLongTermDebtTotalCash$48.76McashInvested capital$1.13BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.67xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$861.73MoperatingIncomeNet PP&E$1.29BpropertyPlantEquipmentResult -0.67x |
| 2021 | 89.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.26BpropertyPlantEquipmentInventory$10.16MinventoryTotal assets$2.55BtotalAssetsResult 89.0% | 0.62xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$1.39BtotalRevenueNet PP&E$2.26BpropertyPlantEquipmentResult 0.62x | 5.53xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$1.19BcapitalExpendituresD&A$215.36MdepreciationAndAmortizationResult 5.53x | $35.52Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.55BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$2.04BtotalLiabTangible book$513.78MShares14,464,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $35.52 | -6.15xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$472.94MebitdaCapex$1.19BcapitalExpendituresInterest$108.93MinterestExpenseShort-term debt$7.74MshortTermDebtEBITDA − capex-$717.61MPrincipal due is short-term debt.Result -6.15x | -$693.88MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$496.67MtotalCashFromOperatingActivitiesCapex$1.19BcapitalExpendituresFree cash flow-$693.88MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$693.88M | 36.7%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$712.96MoperatingIncomeTax expense$3.65MincomeTaxExpensePretax income$148.65MincomeBeforeTaxTax rate2.5%Equity$513.78MtotalStockholderEquityDebt$1.44BshortLongTermDebtTotalCash$56.80McashInvested capital$1.90BResult 36.7% | 0.32xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$712.96MoperatingIncomeNet PP&E$2.26BpropertyPlantEquipmentResult 0.32x |
| 2022 | 89.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.43BpropertyPlantAndEquipmentNetInventory$6.07MinventoryTotal assets$2.73BtotalAssetsResult 89.5% | 0.79xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$1.92BtotalRevenueNet PP&E$2.43BpropertyPlantAndEquipmentNetResult 0.79x | 1.88xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$586.72McapitalExpendituresD&A$311.64MdepreciationAndAmortizationResult 1.88x | $65.85Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.73BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.62BtotalLiabTangible book$1.11BShares16,867,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $65.85 | 3.57xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.07BebitdaCapex$586.72McapitalExpendituresInterest$119.38MinterestExpenseShort-term debt$15.45MshortTermDebtEBITDA − capex$481.32MPrincipal due is short-term debt.Result 3.57x | $242.90MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$829.62MtotalCashFromOperatingActivitiesCapex$586.72McapitalExpendituresFree cash flow$242.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $242.90M | 47.7%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.06BoperatingIncomeTax expense$5.50MincomeTaxExpensePretax income$637.01MincomeBeforeTaxTax rate0.9%Equity$1.11BtotalStockholderEquityDebt$1.14BshortLongTermDebtTotalCash$44.44McashInvested capital$2.20BResult 47.7% | 0.44xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$1.06BoperatingIncomeNet PP&E$2.43BpropertyPlantAndEquipmentNetResult 0.44x |
| 2023 | 87.8%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$4.51BpropertyPlantAndEquipmentNetInventory$13.72MinventoryTotal assets$5.15BtotalAssetsResult 87.8% | 0.34xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$1.55BtotalRevenueNet PP&E$4.51BpropertyPlantAndEquipmentNetResult 0.34x | 3.17xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$1.48BcapitalExpendituresD&A$466.95MdepreciationAndAmortizationResult 3.17x | $134.02Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.15BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$2.36BtotalLiabTangible book$2.79BShares20,783,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $134.02 | -1.60xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.13BebitdaCapex$1.48BcapitalExpendituresInterest$149.82MinterestExpenseShort-term debt$70.65MshortTermDebtEBITDA − capex-$352.42MPrincipal due is short-term debt.Result -1.60x | -$667.97MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$812.96MtotalCashFromOperatingActivitiesCapex$1.48BcapitalExpendituresFree cash flow-$667.97MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$667.97M | 12.4%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$559.62MoperatingIncomeTax expense-$183.34MincomeTaxExpensePretax income$511.74MincomeBeforeTaxTax rate0.0%Equity$2.79BtotalStockholderEquityDebt$1.75BshortLongTermDebtTotalCash$14.06McashInvested capital$4.52BResult 12.4% | 0.12xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$559.62MoperatingIncomeNet PP&E$4.51BpropertyPlantAndEquipmentNetResult 0.12x |
| 2024 | 87.1%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.10BpropertyPlantAndEquipmentNetInventory$17.29MinventoryTotal assets$5.88BtotalAssetsResult 87.1% | 0.38xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$1.95BtotalRevenueNet PP&E$5.10BpropertyPlantAndEquipmentNetResult 0.38x | 2.34xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$1.74BcapitalExpendituresD&A$741.97MdepreciationAndAmortizationResult 2.34x | $73.53Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.88BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$3.18BtotalLiabTangible book$2.70BShares36,725,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $73.53 | -4.32xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$690.34MebitdaCapex$1.74BcapitalExpendituresInterest$169.63MinterestExpenseShort-term debt$73.14MshortTermDebtEBITDA − capex-$1.05BPrincipal due is short-term debt.Result -4.32x | -$738.36MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$1.00BtotalCashFromOperatingActivitiesCapex$1.74BcapitalExpendituresFree cash flow-$738.36MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$738.36M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$22.55MoperatingIncomeTax expense-$47.74MincomeTaxExpensePretax income-$221.26MincomeBeforeTaxTax rate—Equity$2.70BtotalStockholderEquityDebt$2.55BshortLongTermDebtTotalCash$40.18McashInvested capital$5.21BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.00xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$22.55MoperatingIncomeNet PP&E$5.10BpropertyPlantAndEquipmentNetResult 0.00x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2024)
Net PP&E: $5.10B
Inventory: $17.29M
Total assets: $5.88B
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $3.18B
Tangible book: $2.70B
Shares: 36,725,000
Revenue: $1.95B
Capex: $1.74B
D&A: $741.97M
EBITDA: $690.34M
Interest: $169.63M
Short-term debt: $73.14M
Free cash flow: -$738.36M
Operating income: -$22.55M
Invested capital: $5.21B
Tax rate: —