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.
Well Chip Group Berhad
Physical assets are 6.9% of total assets, a light footprint. Capex is 2.01x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by 0.30x, which is below 1.
Fixed-asset turnover is 7.09x. Compare it with other names in the same basket.
Physical asset ratio
6.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 38.09MpropertyPlantAndEquipmentNetInventoryMYR 28.61MinventoryTotal assetsMYR 960.81MtotalAssetsResult 6.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
7.09xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 270.20MtotalRevenueNet PP&EMYR 38.09MpropertyPlantAndEquipmentNetResult 7.09x
Revenue per dollar of the physical asset base.
Capex / D&A
2.01xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 9.51McapitalExpendituresD&AMYR 4.74MreconciledDepreciationResult 2.01x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
MYR 0.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 960.81MtotalAssetsGoodwillMYR 18.49MgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 477.52MtotalLiabTangible bookMYR 464.80MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.77
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / shareMYR 0.772025-12-31A live quote was not available, so price / tangible book could not be calculated.Result —
Quote unavailable.
Fixed-charge coverage
0.30xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 125.41MebitdaCapexMYR 9.51McapitalExpendituresInterestMYR 401.79KinterestExpenseShort-term debtMYR 391.66MshortLongTermDebtEBITDA − capexMYR 115.90MPrincipal due is the current portion of debt.Result 0.30x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-26.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-MYR 174.61MfreeCashFlowMarket capMYR 652.78MMarketCapitalizationResult -26.7%
Latest free cash flow divided by current market cap (MYR 652.78M).
ROIC
9.8%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 118.66MoperatingIncomeTax expenseMYR 34.12MtaxProvisionPretax incomeMYR 120.27MincomeBeforeTaxTax rate28.4%EquityMYR 483.29MtotalStockholderEquityDebtMYR 395.86MlongTermDebt + shortLongTermDebtCashMYR 15.88McashInvested capitalMYR 863.27MResult 9.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 3.12x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2020 | 10.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 6.94MpropertyPlantAndEquipmentNetInventoryMYR 24.76MinventoryTotal assetsMYR 303.11MtotalAssetsResult 10.5% | 17.55xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueMYR 121.84MtotalRevenueNet PP&EMYR 6.94MpropertyPlantAndEquipmentNetResult 17.55x | 0.76xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexMYR 1.89McapitalExpendituresD&AMYR 2.48MreconciledDepreciationResult 0.76x | MYR 0.22Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 303.11MtotalAssetsGoodwillMYR 425.00KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 171.10MtotalLiabTangible bookMYR 131.59MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.22 | 0.29xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 48.37MOperating income + D&ACapexMYR 1.89McapitalExpendituresInterestMYR 173.00KinterestExpenseShort-term debtMYR 159.30MshortLongTermDebtEBITDA − capexMYR 46.48MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is the current portion of debt.Result 0.29x | MYR 24.66MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowMYR 26.55MtotalCashFromOperatingActivitiesCapexMYR 1.89McapitalExpendituresFree cash flowMYR 24.66MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result MYR 24.66M | 12.0%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 45.89MoperatingIncomeTax expenseMYR 12.48MtaxProvisionPretax incomeMYR 46.16MincomeBeforeTaxTax rate27.0%EquityMYR 132.01MtotalStockholderEquityDebtMYR 160.48MlongTermDebt + shortLongTermDebtCashMYR 14.55McashInvested capitalMYR 277.94MResult 12.0% | 6.61xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeMYR 45.89MoperatingIncomeNet PP&EMYR 6.94MpropertyPlantAndEquipmentNetResult 6.61x |
| 2021 | 12.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 7.79MpropertyPlantAndEquipmentNetInventoryMYR 33.23MinventoryTotal assetsMYR 334.22MtotalAssetsResult 12.3% | 13.08xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueMYR 101.88MtotalRevenueNet PP&EMYR 7.79MpropertyPlantAndEquipmentNetResult 13.08x | 0.34xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexMYR 893.00KcapitalExpendituresD&AMYR 2.63MreconciledDepreciationResult 0.34x | MYR 0.25Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 334.22MtotalAssetsGoodwillMYR 425.00KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 183.68MtotalLiabTangible bookMYR 150.12MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.25 | 0.19xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 34.66MOperating income + D&ACapexMYR 893.00KcapitalExpendituresInterestMYR 176.00KinterestExpenseShort-term debtMYR 173.61MshortLongTermDebtEBITDA − capexMYR 33.76MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is the current portion of debt.Result 0.19x | -MYR 7.08MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-MYR 6.18MtotalCashFromOperatingActivitiesCapexMYR 893.00KcapitalExpendituresFree cash flow-MYR 7.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 7.08M | 7.5%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 32.03MoperatingIncomeTax expenseMYR 8.97MtaxProvisionPretax incomeMYR 32.75MincomeBeforeTaxTax rate27.4%EquityMYR 150.54MtotalStockholderEquityDebtMYR 174.73MlongTermDebt + shortLongTermDebtCashMYR 14.37McashInvested capitalMYR 310.91MResult 7.5% | 4.11xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeMYR 32.03MoperatingIncomeNet PP&EMYR 7.79MpropertyPlantAndEquipmentNetResult 4.11x |
| 2022 | 13.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 22.21MpropertyPlantAndEquipmentNetInventoryMYR 35.02MinventoryTotal assetsMYR 434.57MtotalAssetsResult 13.2% | 7.12xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueMYR 158.13MtotalRevenueNet PP&EMYR 22.21MpropertyPlantAndEquipmentNetResult 7.12x | 1.13xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexMYR 3.40McapitalExpendituresD&AMYR 3.01MreconciledDepreciationResult 1.13x | MYR 0.29Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 434.57MtotalAssetsGoodwillMYR 425.00KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 262.77MtotalLiabTangible bookMYR 171.37MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.29 | 0.15xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 40.09MebitdaCapexMYR 3.40McapitalExpendituresInterestMYR 303.00KinterestExpenseShort-term debtMYR 238.86MshortLongTermDebtEBITDA − capexMYR 36.69MPrincipal due is the current portion of debt.Result 0.15x | -MYR 63.91MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-MYR 60.50MtotalCashFromOperatingActivitiesCapexMYR 3.40McapitalExpendituresFree cash flow-MYR 63.91MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 63.91M | 6.6%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 39.04MoperatingIncomeTax expenseMYR 11.62MtaxProvisionPretax incomeMYR 36.78MincomeBeforeTaxTax rate31.6%EquityMYR 171.80MtotalStockholderEquityDebtMYR 242.61MlongTermDebt + shortLongTermDebtCashMYR 8.61McashInvested capitalMYR 405.80MResult 6.6% | 1.76xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeMYR 39.04MoperatingIncomeNet PP&EMYR 22.21MpropertyPlantAndEquipmentNetResult 1.76x |
| 2023 | 9.4%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 30.07MpropertyPlantAndEquipmentNetInventoryMYR 32.10MinventoryTotal assetsMYR 660.13MtotalAssetsResult 9.4% | 6.77xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueMYR 203.68MtotalRevenueNet PP&EMYR 30.07MpropertyPlantAndEquipmentNetResult 6.77x | 0.86xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexMYR 3.18McapitalExpendituresD&AMYR 3.72MreconciledDepreciationResult 0.86x | MYR 0.61Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 660.13MtotalAssetsGoodwillMYR 425.00KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 292.45MtotalLiabTangible bookMYR 367.25MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.61 | 0.19xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 54.09MebitdaCapexMYR 3.18McapitalExpendituresInterestMYR 377.95KinterestExpenseShort-term debtMYR 264.36MshortLongTermDebtEBITDA − capexMYR 50.91MPrincipal due is the current portion of debt.Result 0.19x | -MYR 39.31MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-MYR 36.13MtotalCashFromOperatingActivitiesCapexMYR 3.18McapitalExpendituresFree cash flow-MYR 39.31MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 39.31M | 7.7%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 50.07MoperatingIncomeTax expenseMYR 14.67MtaxProvisionPretax incomeMYR 49.99MincomeBeforeTaxTax rate29.3%EquityMYR 367.68MtotalStockholderEquityDebtMYR 268.19MlongTermDebt + shortLongTermDebtCashMYR 179.24McashInvested capitalMYR 456.63MResult 7.7% | 1.67xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeMYR 50.07MoperatingIncomeNet PP&EMYR 30.07MpropertyPlantAndEquipmentNetResult 1.67x |
| 2024 | 8.7%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 32.54MpropertyPlantAndEquipmentNetInventoryMYR 27.29MinventoryTotal assetsMYR 685.54MtotalAssetsResult 8.7% | 6.83xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueMYR 222.13MtotalRevenueNet PP&EMYR 32.54MpropertyPlantAndEquipmentNetResult 6.83x | 0.69xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexMYR 3.08McapitalExpendituresD&AMYR 4.45MreconciledDepreciationResult 0.69x | MYR 0.70Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 685.54MtotalAssetsGoodwillMYR 425.26KgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 264.39MtotalLiabTangible bookMYR 420.72MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.70 | 0.32xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 75.92MebitdaCapexMYR 3.08McapitalExpendituresInterestMYR 401.37KinterestExpenseShort-term debtMYR 229.18MshortLongTermDebtEBITDA − capexMYR 72.83MPrincipal due is the current portion of debt.Result 0.32x | -MYR 50.51MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-MYR 47.43MtotalCashFromOperatingActivitiesCapexMYR 3.08McapitalExpendituresFree cash flow-MYR 50.51MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 50.51M | 8.4%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 69.75MoperatingIncomeTax expenseMYR 21.09MtaxProvisionPretax incomeMYR 71.07MincomeBeforeTaxTax rate29.7%EquityMYR 421.15MtotalStockholderEquityDebtMYR 233.68MlongTermDebt + shortLongTermDebtCashMYR 69.84McashInvested capitalMYR 584.98MResult 8.4% | 2.14xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeMYR 69.75MoperatingIncomeNet PP&EMYR 32.54MpropertyPlantAndEquipmentNetResult 2.14x |
| 2025 | 6.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EMYR 38.09MpropertyPlantAndEquipmentNetInventoryMYR 28.61MinventoryTotal assetsMYR 960.81MtotalAssetsResult 6.9% | 7.09xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueMYR 270.20MtotalRevenueNet PP&EMYR 38.09MpropertyPlantAndEquipmentNetResult 7.09x | 2.01xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexMYR 9.51McapitalExpendituresD&AMYR 4.74MreconciledDepreciationResult 2.01x | MYR 0.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsMYR 960.81MtotalAssetsGoodwillMYR 18.49MgoodWillIntangiblesMYR 0.00Not reported, treated as 0LiabilitiesMYR 477.52MtotalLiabTangible bookMYR 464.80MShares600,000,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result MYR 0.77 | 0.30xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAMYR 125.41MebitdaCapexMYR 9.51McapitalExpendituresInterestMYR 401.79KinterestExpenseShort-term debtMYR 391.66MshortLongTermDebtEBITDA − capexMYR 115.90MPrincipal due is the current portion of debt.Result 0.30x | -MYR 174.61MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-MYR 165.10MtotalCashFromOperatingActivitiesCapexMYR 9.51McapitalExpendituresFree cash flow-MYR 174.61MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -MYR 174.61M | 9.8%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeMYR 118.66MoperatingIncomeTax expenseMYR 34.12MtaxProvisionPretax incomeMYR 120.27MincomeBeforeTaxTax rate28.4%EquityMYR 483.29MtotalStockholderEquityDebtMYR 395.86MlongTermDebt + shortLongTermDebtCashMYR 15.88McashInvested capitalMYR 863.27MResult 9.8% | 3.12xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeMYR 118.66MoperatingIncomeNet PP&EMYR 38.09MpropertyPlantAndEquipmentNetResult 3.12x |
- 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 the current portion of debt.
Latest year inputs (2025)
Net PP&E: MYR 38.09M
Inventory: MYR 28.61M
Total assets: MYR 960.81M
Goodwill: MYR 18.49M
Intangibles: MYR 0.00
Liabilities: MYR 477.52M
Tangible book: MYR 464.80M
Shares: 600,000,000
Revenue: MYR 270.20M
Capex: MYR 9.51M
D&A: MYR 4.74M
EBITDA: MYR 125.41M
Interest: MYR 401.79K
Short-term debt: MYR 391.66M
Free cash flow: -MYR 174.61M
Operating income: MYR 118.66M
Invested capital: MYR 863.27M
Tax rate: 28.4%