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.
Azrieli Group Ltd
Physical assets are 3.1% of total assets, a light footprint. Capex is 3.43x depreciation and free cash flow yield is still positive, which fits a physical base that is being replaced or expanded without consuming all of its cash. EBITDA after capex covers debt service by 0.89x, which is below 1.
Real estate revenue is mostly rent, so fixed-asset turnover often sits around 0.05x to 0.15x. This name is at 3.91x.
Physical asset ratio
3.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 1.02BpropertyPlantAndEquipmentNetInventoryILA 957.00MinventoryTotal assetsILA 63.57BtotalAssetsResult 3.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.91xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 3.99BtotalRevenueNet PP&EILA 1.02BpropertyPlantAndEquipmentNetResult 3.91x
Revenue per dollar of the physical asset base.
Capex / D&A
3.43xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 120.00McapitalExpendituresD&AILA 35.00MdepreciationAndAmortizationResult 3.43x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
ILA 196.41Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 63.57BtotalAssetsGoodwillILA 1.46BgoodWillIntangiblesILA 20.00MintangibleAssetsLiabilitiesILA 38.26BtotalLiabTangible bookILA 23.84BShares121,355,807commonStockSharesOutstandingResult ILA 196.41
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
181.51xPrice / tangible bookPrice / tangible book per sharePriceILA 35.65KLatest quoteTangible book / shareILA 196.412025-12-31Result 181.51x
Price ILA 35.65K.
Fixed-charge coverage
0.89xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 3.64BebitdaCapexILA 120.00McapitalExpendituresInterestILA 1.21BinterestExpenseShort-term debtILA 2.72BshortLongTermDebtEBITDA − capexILA 3.52BThe short-term debt line matched total current liabilities, so principal due is the current portion of debt.Result 0.89x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.9%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowILA 1.32BfreeCashFlowMarket capILA 45.27BMarketCapitalizationResult 2.9%
Latest free cash flow divided by current market cap (ILA 45.27B).
ROIC
3.2%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 2.07BoperatingIncomeTax expenseILA 506.00MincomeTaxExpensePretax incomeILA 2.39BincomeBeforeTaxTax rate21.1%EquityILA 25.30BtotalStockholderEquityDebtILA 29.15BshortLongTermDebtTotalCashILA 3.97BcashAndShortTermInvestmentsInvested capitalILA 50.48BResult 3.2%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 2.03x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 87.9%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 27.98BpropertyPlantEquipmentInventoryILA 66.00MinventoryTotal assetsILA 31.90BtotalAssetsUses the property line, which is larger than net PP&E (ILA 530.00M, propertyPlantAndEquipmentNet).Result 87.9% | 0.11xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueILA 3.15BtotalRevenueNet PP&EILA 27.98BpropertyPlantEquipmentResult 0.11x | 1.19xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexILA 81.00McapitalExpendituresD&AILA 68.00MdepreciationAndAmortizationResult 1.19x | ILA 138.74Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 31.90BtotalAssetsGoodwillILA 166.00MgoodWillIntangiblesILA 130.00MintangibleAssetsLiabilitiesILA 14.77BtotalLiabTangible bookILA 16.83BShares121,272,760commonStockSharesOutstandingResult ILA 138.74 | 0.90xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.69BebitdaCapexILA 81.00McapitalExpendituresInterestILA 225.00MinterestExpenseShort-term debtILA 1.57BshortTermDebtEBITDA − capexILA 1.61BPrincipal due is short-term debt.Result 0.90x | ILA 1.19BFree cash flow · 2018-12-31Reported free cash flowOperating cash flowILA 1.27BtotalCashFromOperatingActivitiesCapexILA 81.00McapitalExpendituresFree cash flowILA 1.19BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.19B | 4.1%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.34BoperatingIncomeTax expenseILA 273.00MincomeTaxExpensePretax incomeILA 1.42BincomeBeforeTaxTax rate19.2%EquityILA 17.08BtotalStockholderEquityDebtILA 10.02BshortLongTermDebtTotalCashILA 716.00McashInvested capitalILA 26.38BResult 4.1% | 0.05xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeILA 1.34BoperatingIncomeNet PP&EILA 27.98BpropertyPlantEquipmentResult 0.05x |
| 2019 | 83.4%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 29.37BpropertyPlantEquipmentInventoryILA 7.00MinventoryTotal assetsILA 35.24BtotalAssetsUses the property line, which is larger than net PP&E (ILA 253.00M, propertyPlantAndEquipmentNet).Result 83.4% | 0.08xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueILA 2.24BtotalRevenueNet PP&EILA 29.37BpropertyPlantEquipmentResult 0.08x | 1.21xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexILA 88.00McapitalExpendituresD&AILA 73.00MdepreciationAndAmortizationResult 1.21x | ILA 152.11Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 35.24BtotalAssetsGoodwillILA 103.00MgoodWillIntangiblesILA 24.00MintangibleAssetsLiabilitiesILA 16.67BtotalLiabTangible bookILA 18.45BShares121,272,760commonStockSharesOutstandingResult ILA 152.11 | 1.67xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 2.50BebitdaCapexILA 88.00McapitalExpendituresInterestILA 254.00MinterestExpenseShort-term debtILA 1.19BshortTermDebtEBITDA − capexILA 2.42BPrincipal due is short-term debt.Result 1.67x | ILA 1.50BFree cash flow · 2019-12-31Reported free cash flowOperating cash flowILA 1.59BtotalCashFromOperatingActivitiesCapexILA 88.00McapitalExpendituresFree cash flowILA 1.50BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.50B | 4.1%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.40BoperatingIncomeTax expenseILA 471.00MincomeTaxExpensePretax incomeILA 2.18BincomeBeforeTaxTax rate21.6%EquityILA 18.53BtotalStockholderEquityDebtILA 11.42BshortLongTermDebtTotalCashILA 2.86BcashAndShortTermInvestmentsInvested capitalILA 27.09BResult 4.1% | 0.05xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeILA 1.40BoperatingIncomeNet PP&EILA 29.37BpropertyPlantEquipmentResult 0.05x |
| 2020 | 84.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 29.78BpropertyPlantEquipmentInventoryILA 10.00MinventoryTotal assetsILA 35.12BtotalAssetsUses the property line, which is larger than net PP&E (ILA 514.00M, propertyPlantAndEquipmentNet).Result 84.8% | 0.06xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueILA 1.80BtotalRevenueNet PP&EILA 29.78BpropertyPlantEquipmentResult 0.06x | 8.59xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexILA 292.00McapitalExpendituresD&AILA 34.00MdepreciationAndAmortizationResult 8.59x | ILA 148.54Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 35.12BtotalAssetsGoodwillILA 103.00MgoodWillIntangiblesILA 16.00MintangibleAssetsLiabilitiesILA 16.99BtotalLiabTangible bookILA 18.01BShares121,272,760commonStockSharesOutstandingResult ILA 148.54 | 0.06xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 382.00MebitdaCapexILA 292.00McapitalExpendituresInterestILA 112.00MinterestExpenseShort-term debtILA 1.29BshortTermDebtEBITDA − capexILA 90.00MPrincipal due is short-term debt.Result 0.06x | ILA 649.00MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowILA 941.00MtotalCashFromOperatingActivitiesCapexILA 292.00McapitalExpendituresFree cash flowILA 649.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 649.00M | 3.1%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.01BoperatingIncomeTax expenseILA 40.00MincomeTaxExpensePretax incomeILA 236.00MincomeBeforeTaxTax rate16.9%EquityILA 18.10BtotalStockholderEquityDebtILA 11.82BshortLongTermDebtTotalCashILA 2.67BcashAndShortTermInvestmentsInvested capitalILA 27.26BResult 3.1% | 0.03xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeILA 1.01BoperatingIncomeNet PP&EILA 29.78BpropertyPlantEquipmentResult 0.03x |
| 2021 | 81.9%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 34.69BpropertyPlantEquipmentInventoryILA 11.00MinventoryTotal assetsILA 42.37BtotalAssetsUses the property line, which is larger than net PP&E (ILA 548.00M, propertyPlantAndEquipmentNet).Result 81.9% | 0.06xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueILA 2.21BtotalRevenueNet PP&EILA 34.69BpropertyPlantEquipmentResult 0.06x | 1.60xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexILA 32.00McapitalExpendituresD&AILA 20.00MdepreciationAndAmortizationResult 1.60x | ILA 157.67Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 42.37BtotalAssetsGoodwillILA 1.64BgoodWillIntangiblesILA 16.00MintangibleAssetsLiabilitiesILA 21.60BtotalLiabTangible bookILA 19.12BShares121,272,760commonStockSharesOutstandingResult ILA 157.67 | 2.06xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 4.13BebitdaCapexILA 32.00McapitalExpendituresInterestILA 438.00MinterestExpenseShort-term debtILA 1.56BshortTermDebtEBITDA − capexILA 4.10BPrincipal due is short-term debt.Result 2.06x | ILA 1.33BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowILA 1.36BtotalCashFromOperatingActivitiesCapexILA 32.00McapitalExpendituresFree cash flowILA 1.33BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.33B | 3.2%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.36BoperatingIncomeTax expenseILA 780.00MincomeTaxExpensePretax incomeILA 3.67BincomeBeforeTaxTax rate21.2%EquityILA 20.74BtotalStockholderEquityDebtILA 15.27BshortLongTermDebtTotalCashILA 2.89BcashAndShortTermInvestmentsInvested capitalILA 33.12BResult 3.2% | 0.04xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeILA 1.36BoperatingIncomeNet PP&EILA 34.69BpropertyPlantEquipmentResult 0.04x |
| 2022 | 1.3%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 605.00MpropertyPlantAndEquipmentNetInventoryILA 10.00MinventoryTotal assetsILA 48.47BtotalAssetsResult 1.3% | 4.45xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueILA 2.69BtotalRevenueNet PP&EILA 605.00MpropertyPlantAndEquipmentNetResult 4.45x | 3.81xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexILA 61.00McapitalExpendituresD&AILA 16.00MdepreciationAndAmortizationResult 3.81x | ILA 168.49Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 48.47BtotalAssetsGoodwillILA 1.64BgoodWillIntangiblesILA 25.00MintangibleAssetsLiabilitiesILA 26.37BtotalLiabTangible bookILA 20.43BShares121,272,760commonStockSharesOutstandingResult ILA 168.49 | 0.93xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 3.16BebitdaCapexILA 61.00McapitalExpendituresInterestILA 1.03BinterestExpenseShort-term debtILA 2.30BshortTermDebtEBITDA − capexILA 3.10BPrincipal due is short-term debt.Result 0.93x | ILA 1.69BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowILA 1.75BtotalCashFromOperatingActivitiesCapexILA 61.00McapitalExpendituresFree cash flowILA 1.69BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.69B | 7.0%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 3.17BoperatingIncomeTax expenseILA 354.00MincomeTaxExpensePretax incomeILA 2.15BincomeBeforeTaxTax rate16.5%EquityILA 22.07BtotalStockholderEquityDebtILA 19.33BshortLongTermDebtTotalCashILA 3.41BcashAndShortTermInvestmentsInvested capitalILA 37.99BResult 7.0% | 5.24xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeILA 3.17BoperatingIncomeNet PP&EILA 605.00MpropertyPlantAndEquipmentNetResult 5.24x |
| 2023 | 84.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 45.41BpropertyPlantAndEquipmentNetInventoryILA 6.00MinventoryTotal assetsILA 54.07BtotalAssetsResult 84.0% | 0.11xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueILA 5.14BtotalRevenueNet PP&EILA 45.41BpropertyPlantAndEquipmentNetResult 0.11x | 2.91xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexILA 204.00McapitalExpendituresD&AILA 70.00MdepreciationAndAmortizationResult 2.91x | ILA 181.03Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 54.07BtotalAssetsGoodwillILA 1.61BgoodWillIntangiblesILA 2.00MintangibleAssetsLiabilitiesILA 30.50BtotalLiabTangible bookILA 21.95BShares121,272,760commonStockSharesOutstandingResult ILA 181.03 | 0.97xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 3.79BebitdaCapexILA 204.00McapitalExpendituresInterestILA 895.00MinterestExpenseShort-term debtILA 2.81BshortTermDebtEBITDA − capexILA 3.59BPrincipal due is short-term debt.Result 0.97x | ILA 1.17BFree cash flow · 2023-12-31Reported free cash flowOperating cash flowILA 1.37BtotalCashFromOperatingActivitiesCapexILA 204.00McapitalExpendituresFree cash flowILA 1.17BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.17B | 5.8%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 3.06BoperatingIncomeTax expenseILA 635.00MincomeTaxExpensePretax incomeILA 2.85BincomeBeforeTaxTax rate22.3%EquityILA 23.54BtotalStockholderEquityDebtILA 22.75BshortLongTermDebtTotalCashILA 4.92BcashAndShortTermInvestmentsInvested capitalILA 41.38BResult 5.8% | 0.07xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeILA 3.06BoperatingIncomeNet PP&EILA 45.41BpropertyPlantAndEquipmentNetResult 0.07x |
| 2024 | 1.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 907.00MpropertyPlantAndEquipmentNetInventoryILA 3.00MinventoryTotal assetsILA 57.93BtotalAssetsResult 1.6% | 3.62xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueILA 3.28BtotalRevenueNet PP&EILA 907.00MpropertyPlantAndEquipmentNetResult 3.62x | 11.75xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexILA 235.00McapitalExpendituresD&AILA 20.00MdepreciationAndAmortizationResult 11.75x | ILA 183.62Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 57.93BtotalAssetsGoodwillILA 1.47BgoodWillIntangiblesILA 2.00MintangibleAssetsLiabilitiesILA 34.10BtotalLiabTangible bookILA 22.36BShares121,784,503commonStockSharesOutstandingResult ILA 183.62 | 0.77xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 2.93BebitdaCapexILA 235.00McapitalExpendituresInterestILA 1.01BinterestExpenseShort-term debtILA 2.47BshortTermDebtEBITDA − capexILA 2.70BPrincipal due is short-term debt.Result 0.77x | ILA 1.58BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowILA 1.82BtotalCashFromOperatingActivitiesCapexILA 235.00McapitalExpendituresFree cash flowILA 1.58BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.58B | 4.9%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 2.87BoperatingIncomeTax expenseILA 442.00MincomeTaxExpensePretax incomeILA 1.92BincomeBeforeTaxTax rate23.0%EquityILA 23.81BtotalStockholderEquityDebtILA 25.89BshortLongTermDebtTotalCashILA 4.63BcashAndShortTermInvestmentsInvested capitalILA 45.07BResult 4.9% | 3.16xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeILA 2.87BoperatingIncomeNet PP&EILA 907.00MpropertyPlantAndEquipmentNetResult 3.16x |
| 2025 | 3.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 1.02BpropertyPlantAndEquipmentNetInventoryILA 957.00MinventoryTotal assetsILA 63.57BtotalAssetsResult 3.1% | 3.91xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 3.99BtotalRevenueNet PP&EILA 1.02BpropertyPlantAndEquipmentNetResult 3.91x | 3.43xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 120.00McapitalExpendituresD&AILA 35.00MdepreciationAndAmortizationResult 3.43x | ILA 196.41Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 63.57BtotalAssetsGoodwillILA 1.46BgoodWillIntangiblesILA 20.00MintangibleAssetsLiabilitiesILA 38.26BtotalLiabTangible bookILA 23.84BShares121,355,807commonStockSharesOutstandingResult ILA 196.41 | 0.89xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 3.64BebitdaCapexILA 120.00McapitalExpendituresInterestILA 1.21BinterestExpenseShort-term debtILA 2.72BshortLongTermDebtEBITDA − capexILA 3.52BThe short-term debt line matched total current liabilities, so principal due is the current portion of debt.Result 0.89x | ILA 1.32BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowILA 1.44BtotalCashFromOperatingActivitiesCapexILA 120.00McapitalExpendituresFree cash flowILA 1.32BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.32B | 3.2%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 2.07BoperatingIncomeTax expenseILA 506.00MincomeTaxExpensePretax incomeILA 2.39BincomeBeforeTaxTax rate21.1%EquityILA 25.30BtotalStockholderEquityDebtILA 29.15BshortLongTermDebtTotalCashILA 3.97BcashAndShortTermInvestmentsInvested capitalILA 50.48BResult 3.2% | 2.03xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeILA 2.07BoperatingIncomeNet PP&EILA 1.02BpropertyPlantAndEquipmentNetResult 2.03x |
- The short-term debt line matched total current liabilities, so principal due uses the current portion of debt.
Latest year inputs (2025)
Net PP&E: ILA 1.02B
Inventory: ILA 957.00M
Total assets: ILA 63.57B
Goodwill: ILA 1.46B
Intangibles: ILA 20.00M
Liabilities: ILA 38.26B
Tangible book: ILA 23.84B
Shares: 121,355,807
Revenue: ILA 3.99B
Capex: ILA 120.00M
D&A: ILA 35.00M
EBITDA: ILA 3.64B
Interest: ILA 1.21B
Short-term debt: ILA 2.72B
Free cash flow: ILA 1.32B
Operating income: ILA 2.07B
Invested capital: ILA 50.48B
Tax rate: 21.1%