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.
WEC Energy Group Inc
Physical assets are 75.9% of total assets, a heavy footprint. Capex is 2.97x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -0.08x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.26x.
Physical asset ratio
75.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.26x
Revenue per dollar of the physical asset base.
Capex / D&A
2.97x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$31.78
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.34x
Price $106.04.
Fixed-charge coverage
-0.08x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-2.9%
Latest free cash flow divided by current market cap ($34.55B).
ROIC
6.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.06x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 67.4% | 0.35x | 2.50x | $21.43 | 0.18x | $329.80M | 5.9% | 0.07x |
| 2019 | 69.2% | 0.32x | 2.44x | $22.74 | 0.21x | $84.70M | 6.0% | 0.06x |
| 2020 | 70.9% | 0.28x | 2.29x | $24.04 | 0.22x | -$42.80M | 5.8% | 0.07x |
| 2021 | 70.8% | 0.31x | 2.10x | $25.47 | 0.31x | -$220.10M | 5.6% | 0.06x |
| 2022 | 71.5% | 0.33x | 2.08x | $27.01 | 0.34x | -$273.40M | 5.4% | 0.07x |
| 2023 | 73.6% | 0.28x | 1.97x | $28.44 | 0.26x | $525.50M | 5.4% | 0.06x |
| 2024 | 74.9% | 0.25x | 2.05x | $30.69 | 0.31x | $430.70M | 5.7% | 0.06x |
| 2025 | 75.9% | 0.26x | 2.97x | $31.78 | -0.08x | -$1.02B | 6.1% | 0.06x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $38.28B
Inventory: $803.40M
Total assets: $51.52B
Goodwill: $3.05B
Intangibles: $580.30M
Liabilities: $37.47B
Tangible book: $10.42B
Shares: 327,900,000
Revenue: $9.80B
Capex: $4.40B
D&A: $1.48B
EBITDA: $4.05B
Interest: $895.10M
Short-term debt: $3.44B
Free cash flow: -$1.02B
Operating income: $2.37B
Invested capital: $35.93B
Tax rate: 7.1%