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.
Xcel Energy Inc
Physical assets are 84.4% of total assets, a heavy footprint. Capex is 3.54x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -1.39x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.22x.
Physical asset ratio
84.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.22x
Revenue per dollar of the physical asset base.
Capex / D&A
3.54x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$40.08
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.87x
Price $75.12.
Fixed-charge coverage
-1.39x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-14.5%
Latest free cash flow divided by current market cap ($46.92B).
ROIC
5.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.04x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 81.5% | 0.31x | 2.22x | $23.92 | -0.04x | -$835.00M | 5.9% | 0.05x |
| 2019 | 82.7% | 0.28x | 2.22x | $25.46 | -0.05x | -$962.00M | 5.8% | 0.05x |
| 2020 | 83.4% | 0.26x | 2.58x | $27.60 | -0.58x | -$2.52B | 5.8% | 0.05x |
| 2021 | 81.9% | 0.29x | 1.88x | $28.91 | 0.15x | -$2.06B | 5.5% | 0.05x |
| 2022 | 82.1% | 0.31x | 1.82x | $30.48 | 0.15x | -$706.00M | 5.7% | 0.05x |
| 2023 | 83.6% | 0.27x | 2.28x | $31.91 | -0.28x | -$527.00M | 5.5% | 0.05x |
| 2024 | 84.3% | 0.23x | 2.56x | $34.67 | -0.59x | -$2.72B | 4.8% | 0.04x |
| 2025 | 84.4% | 0.22x | 3.54x | $40.08 | -1.39x | -$6.83B | 5.0% | 0.04x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $67.88B
Inventory: $761.00M
Total assets: $81.37B
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $57.76B
Tangible book: $23.61B
Shares: 589,000,000
Revenue: $14.67B
Capex: $10.91B
D&A: $3.08B
EBITDA: $6.20B
Interest: $1.34B
Short-term debt: $2.05B
Free cash flow: -$6.83B
Operating income: $2.88B
Invested capital: $58.12B
Tax rate: 0.0%