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.
B&M European Value Retail S.A
Physical assets are 62.2% of total assets, a heavy footprint. Capex is 0.47x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 20.1%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 3.56x. Compare it with other names in the same basket.
Physical asset ratio
62.2%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.63BpropertyPlantAndEquipmentNetInventory$851.17MinventoryTotal assets$3.98BtotalAssetsResult 62.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.56xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue$5.79BtotalRevenueNet PP&E$1.63BpropertyPlantAndEquipmentNetResult 3.56x
Revenue per dollar of the physical asset base.
Capex / D&A
0.47xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$139.35McapitalExpendituresD&A$297.76MdepreciationAndAmortizationResult 0.47x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$0.24Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.98BtotalAssetsGoodwill$923.35MgoodWillIntangibles$120.31MintangibleAssetsLiabilities$3.18BtotalLiabTangible book-$243.62MShares1,005,920,000commonStockSharesOutstandingResult -$0.24
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$3.58Latest quoteTangible book / share-$0.242026-03-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $3.58.
Fixed-charge coverage
3.48xFixed-charge coverage · 2026-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$700.78MebitdaCapex$139.35McapitalExpendituresInterest$154.39MinterestExpenseShort-term debt$7.00MshortLongTermDebtEBITDA − capex$561.43MPrincipal due is the current portion of debt.Result 3.48x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
14.9%Free cash flow yield · 2026-03-31Latest free cash flow / current market capFree cash flow$535.36MfreeCashFlowMarket cap$3.60BMarketCapitalizationResult 14.9%
Latest free cash flow divided by current market cap ($3.60B).
ROIC
20.1%ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$403.03MoperatingIncomeTax expense$63.16MincomeTaxExpensePretax income$227.58MincomeBeforeTaxTax rate27.8%Equity$800.04MtotalStockholderEquityDebt$989.00MlongTermDebt + shortLongTermDebtCash$342.87McashInvested capital$1.45BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 20.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.25x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 62.1%Physical asset ratio · 2019-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.84BpropertyPlantAndEquipmentNetInventory$866.84MinventoryTotal assets$4.36BtotalAssetsResult 62.1% | 2.31xFixed asset turnover · 2019-03-31Revenue / net PP&ERevenue$4.26BtotalRevenueNet PP&E$1.84BpropertyPlantAndEquipmentNetResult 2.31x | 0.75xCapex / D&A · 2019-03-31Capital expenditures / depreciation and amortizationCapex$134.56McapitalExpendituresD&A$179.73MdepreciationAndAmortizationResult 0.75x | -$0.10Tangible book / share · 2019-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.36BtotalAssetsGoodwill$1.24BgoodWillIntangibles$164.83MintangibleAssetsLiabilities$3.06BtotalLiabTangible book-$103.00MShares1,001,268,000commonStockSharesOutstandingResult -$0.10 | 2.03xFixed-charge coverage · 2019-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$594.85MebitdaCapex$134.56McapitalExpendituresInterest$96.68MinterestExpenseShort-term debt$129.92MshortLongTermDebtEBITDA − capex$460.29MPrincipal due is the current portion of debt.Result 2.03x | $354.79MFree cash flow · 2019-03-31Reported free cash flowOperating cash flow$489.35MtotalCashFromOperatingActivitiesCapex$134.56McapitalExpendituresFree cash flow$354.79MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $354.79M | 17.7%ROIC · 2019-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$415.12MoperatingIncomeTax expense$64.10MincomeTaxExpensePretax income$318.22MincomeBeforeTaxTax rate20.1%Equity$1.29BtotalStockholderEquityDebt$692.86MlongTermDebt + shortLongTermDebtCash$112.27McashInvested capital$1.87BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 17.7% | 0.23xEBIT / PP&E · 2019-03-31Operating income / net PP&EOperating income$415.12MoperatingIncomeNet PP&E$1.84BpropertyPlantAndEquipmentNetResult 0.23x |
| 2020 | 55.7%Physical asset ratio · 2020-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.74BpropertyPlantAndEquipmentNetInventory$732.92MinventoryTotal assets$4.45BtotalAssetsResult 55.7% | 2.73xFixed asset turnover · 2020-03-31Revenue / net PP&ERevenue$4.75BtotalRevenueNet PP&E$1.74BpropertyPlantAndEquipmentNetResult 2.73x | 0.58xCapex / D&A · 2020-03-31Capital expenditures / depreciation and amortizationCapex$124.63McapitalExpendituresD&A$213.62MdepreciationAndAmortizationResult 0.58x | -$0.22Tangible book / share · 2020-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.45BtotalAssetsGoodwill$1.15BgoodWillIntangibles$149.20MintangibleAssetsLiabilities$3.37BtotalLiabTangible book-$217.14MShares1,002,077,000commonStockSharesOutstandingResult -$0.22 | 1.56xFixed-charge coverage · 2020-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$615.29MebitdaCapex$124.63McapitalExpendituresInterest$101.96MinterestExpenseShort-term debt$211.99MshortLongTermDebtEBITDA − capex$490.66MPrincipal due is the current portion of debt.Result 1.56x | $418.13MFree cash flow · 2020-03-31Reported free cash flowOperating cash flow$542.76MtotalCashFromOperatingActivitiesCapex$124.63McapitalExpendituresFree cash flow$418.13MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $418.13M | 24.3%ROIC · 2020-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$414.84MoperatingIncomeTax expense$71.36MincomeTaxExpensePretax income$314.14MincomeBeforeTaxTax rate22.7%Equity$1.08BtotalStockholderEquityDebt$773.41MlongTermDebt + shortLongTermDebtCash$533.74McashInvested capital$1.32BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 24.3% | 0.24xEBIT / PP&E · 2020-03-31Operating income / net PP&EOperating income$414.84MoperatingIncomeNet PP&E$1.74BpropertyPlantAndEquipmentNetResult 0.24x |
| 2021 | 59.9%Physical asset ratio · 2021-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.41BpropertyPlantEquipmentInventory$605.00MinventoryTotal assets$3.36BtotalAssetsResult 59.9% | 3.41xFixed asset turnover · 2021-03-31Revenue / net PP&ERevenue$4.80BtotalRevenueNet PP&E$1.41BpropertyPlantEquipmentResult 3.41x | 0.41xCapex / D&A · 2021-03-31Capital expenditures / depreciation and amortizationCapex$87.92McapitalExpendituresD&A$216.00MdepreciationAndAmortizationResult 0.41x | -$0.31Tangible book / share · 2021-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.36BtotalAssetsGoodwill$921.00MgoodWillIntangibles$118.00MintangibleAssetsLiabilities$2.63BtotalLiabTangible book-$306.00MShares1,002,470,500commonStockSharesOutstandingResult -$0.31 | 8.19xFixed-charge coverage · 2021-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$824.00MebitdaCapex$87.92McapitalExpendituresInterest$83.00MinterestExpenseShort-term debt$6.88MshortLongTermDebtEBITDA − capex$736.08MPrincipal due is the current portion of debt.Result 8.19x | $738.71MFree cash flow · 2021-03-31Reported free cash flowOperating cash flow$826.63MtotalCashFromOperatingActivitiesCapex$87.92McapitalExpendituresFree cash flow$738.71MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $738.71M | 40.1%ROIC · 2021-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$613.00MoperatingIncomeTax expense$97.00MincomeTaxExpensePretax income$525.00MincomeBeforeTaxTax rate18.5%Equity$733.00MtotalStockholderEquityDebt$730.61MlongTermDebt + shortLongTermDebtCash$218.00McashInvested capital$1.25BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 40.1% | 0.44xEBIT / PP&E · 2021-03-31Operating income / net PP&EOperating income$613.00MoperatingIncomeNet PP&E$1.41BpropertyPlantEquipmentResult 0.44x |
| 2022 | 63.0%Physical asset ratio · 2022-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.43BpropertyPlantEquipmentInventory$863.00MinventoryTotal assets$3.64BtotalAssetsResult 63.0% | 3.27xFixed asset turnover · 2022-03-31Revenue / net PP&ERevenue$4.67BtotalRevenueNet PP&E$1.43BpropertyPlantEquipmentResult 3.27x | 0.44xCapex / D&A · 2022-03-31Capital expenditures / depreciation and amortizationCapex$100.00McapitalExpendituresD&A$227.00MdepreciationAndAmortizationResult 0.44x | -$0.29Tangible book / share · 2022-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.64BtotalAssetsGoodwill$920.00MgoodWillIntangibles$120.00MintangibleAssetsLiabilities$2.89BtotalLiabTangible book-$294.00MShares1,003,295,500commonStockSharesOutstandingResult -$0.29 | 8.02xFixed-charge coverage · 2022-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$838.00MebitdaCapex$100.00McapitalExpendituresInterest$86.00MinterestExpenseShort-term debt$6.00MshortLongTermDebtEBITDA − capex$738.00MPrincipal due is the current portion of debt.Result 8.02x | $391.00MFree cash flow · 2022-03-31Reported free cash flowOperating cash flow$491.00MtotalCashFromOperatingActivitiesCapex$100.00McapitalExpendituresFree cash flow$391.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $391.00M | 32.1%ROIC · 2022-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$610.00MoperatingIncomeTax expense$103.00MincomeTaxExpensePretax income$525.00MincomeBeforeTaxTax rate19.6%Equity$746.00MtotalStockholderEquityDebt$956.00MlongTermDebt + shortLongTermDebtCash$173.00McashInvested capital$1.53BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 32.1% | 0.43xEBIT / PP&E · 2022-03-31Operating income / net PP&EOperating income$610.00MoperatingIncomeNet PP&E$1.43BpropertyPlantEquipmentResult 0.43x |
| 2023 | 61.8%Physical asset ratio · 2023-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.44BpropertyPlantEquipmentInventory$764.00MinventoryTotal assets$3.56BtotalAssetsResult 61.8% | 3.47xFixed asset turnover · 2023-03-31Revenue / net PP&ERevenue$4.98BtotalRevenueNet PP&E$1.44BpropertyPlantEquipmentResult 3.47x | 0.40xCapex / D&A · 2023-03-31Capital expenditures / depreciation and amortizationCapex$98.00McapitalExpendituresD&A$242.00MdepreciationAndAmortizationResult 0.40x | -$1.75Tangible book / share · 2023-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.56BtotalAssetsGoodwill$921.00MgoodWillIntangibles$120.00MintangibleAssetsLiabilities$4.28BtotalLiabTangible book-$1.76BShares1,003,943,500commonStockSharesOutstandingResult -$1.75 | 3.77xFixed-charge coverage · 2023-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$777.00MebitdaCapex$98.00McapitalExpendituresInterest$99.00MinterestExpenseShort-term debt$81.00MshortLongTermDebtEBITDA − capex$679.00MPrincipal due is the current portion of debt.Result 3.77x | $684.00MFree cash flow · 2023-03-31Reported free cash flowOperating cash flow$782.00MtotalCashFromOperatingActivitiesCapex$98.00McapitalExpendituresFree cash flow$684.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $684.00M | —ROIC · 2023-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$536.00MoperatingIncomeTax expense$88.00MincomeTaxExpensePretax income$436.00MincomeBeforeTaxTax rate20.2%Equity-$720.00MtotalStockholderEquityDebt$954.00MlongTermDebt + shortLongTermDebtCash$237.00McashInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result — | 0.37xEBIT / PP&E · 2023-03-31Operating income / net PP&EOperating income$536.00MoperatingIncomeNet PP&E$1.44BpropertyPlantEquipmentResult 0.37x |
| 2024 | 74.4%Physical asset ratio · 2024-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.92BpropertyPlantAndEquipmentNetInventory$776.00MinventoryTotal assets$3.63BtotalAssetsResult 74.4% | 2.86xFixed asset turnover · 2024-03-31Revenue / net PP&ERevenue$5.48BtotalRevenueNet PP&E$1.92BpropertyPlantAndEquipmentNetResult 2.86x | 0.49xCapex / D&A · 2024-03-31Capital expenditures / depreciation and amortizationCapex$126.00McapitalExpendituresD&A$258.00MdepreciationAndAmortizationResult 0.49x | -$2.04Tangible book / share · 2024-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.63BtotalAssetsGoodwill$1.16BgoodWillIntangibles$152.69MintangibleAssetsLiabilities$4.36BtotalLiabTangible book-$2.05BShares1,004,674,000commonStockSharesOutstandingResult -$2.04 | 5.14xFixed-charge coverage · 2024-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$872.00MebitdaCapex$126.00McapitalExpendituresInterest$116.00MinterestExpenseShort-term debt$29.00MshortLongTermDebtEBITDA − capex$746.00MPrincipal due is the current portion of debt.Result 5.14x | $620.00MFree cash flow · 2024-03-31Reported free cash flowOperating cash flow$746.00MtotalCashFromOperatingActivitiesCapex$126.00McapitalExpendituresFree cash flow$620.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $620.00M | —ROIC · 2024-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$608.00MoperatingIncomeTax expense$131.00MincomeTaxExpensePretax income$498.00MincomeBeforeTaxTax rate26.3%Equity-$734.00MtotalStockholderEquityDebt$910.00MlongTermDebt + shortLongTermDebtCash$229.66McashInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result — | 0.32xEBIT / PP&E · 2024-03-31Operating income / net PP&EOperating income$608.00MoperatingIncomeNet PP&E$1.92BpropertyPlantAndEquipmentNetResult 0.32x |
| 2025 | 62.1%Physical asset ratio · 2025-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.61BpropertyPlantAndEquipmentNetInventory$883.00MinventoryTotal assets$4.01BtotalAssetsResult 62.1% | 3.47xFixed asset turnover · 2025-03-31Revenue / net PP&ERevenue$5.57BtotalRevenueNet PP&E$1.61BpropertyPlantAndEquipmentNetResult 3.47x | 0.49xCapex / D&A · 2025-03-31Capital expenditures / depreciation and amortizationCapex$133.00McapitalExpendituresD&A$273.00MdepreciationAndAmortizationResult 0.49x | -$0.29Tangible book / share · 2025-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.01BtotalAssetsGoodwill$920.00MgoodWillIntangibles$120.00MintangibleAssetsLiabilities$3.26BtotalLiabTangible book-$288.00MShares1,005,255,000commonStockSharesOutstandingResult -$0.29 | 2.37xFixed-charge coverage · 2025-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$844.00MebitdaCapex$133.00McapitalExpendituresInterest$140.00MinterestExpenseShort-term debt$160.00MshortLongTermDebtEBITDA − capex$711.00MPrincipal due is the current portion of debt.Result 2.37x | $542.00MFree cash flow · 2025-03-31Reported free cash flowOperating cash flow$675.00MtotalCashFromOperatingActivitiesCapex$133.00McapitalExpendituresFree cash flow$542.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $542.00M | 25.1%ROIC · 2025-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$566.00MoperatingIncomeTax expense$112.00MincomeTaxExpensePretax income$431.00MincomeBeforeTaxTax rate26.0%Equity$752.00MtotalStockholderEquityDebt$1.14BlongTermDebt + shortLongTermDebtCash$217.00McashInvested capital$1.67BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 25.1% | 0.35xEBIT / PP&E · 2025-03-31Operating income / net PP&EOperating income$566.00MoperatingIncomeNet PP&E$1.61BpropertyPlantAndEquipmentNetResult 0.35x |
| 2026 | 62.2%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.63BpropertyPlantAndEquipmentNetInventory$851.17MinventoryTotal assets$3.98BtotalAssetsResult 62.2% | 3.56xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue$5.79BtotalRevenueNet PP&E$1.63BpropertyPlantAndEquipmentNetResult 3.56x | 0.47xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$139.35McapitalExpendituresD&A$297.76MdepreciationAndAmortizationResult 0.47x | -$0.24Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.98BtotalAssetsGoodwill$923.35MgoodWillIntangibles$120.31MintangibleAssetsLiabilities$3.18BtotalLiabTangible book-$243.62MShares1,005,920,000commonStockSharesOutstandingResult -$0.24 | 3.48xFixed-charge coverage · 2026-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$700.78MebitdaCapex$139.35McapitalExpendituresInterest$154.39MinterestExpenseShort-term debt$7.00MshortLongTermDebtEBITDA − capex$561.43MPrincipal due is the current portion of debt.Result 3.48x | $535.36MFree cash flow · 2026-03-31Reported free cash flowOperating cash flow$674.72MtotalCashFromOperatingActivitiesCapex$139.35McapitalExpendituresFree cash flow$535.36MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $535.36M | 20.1%ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$403.03MoperatingIncomeTax expense$63.16MincomeTaxExpensePretax income$227.58MincomeBeforeTaxTax rate27.8%Equity$800.04MtotalStockholderEquityDebt$989.00MlongTermDebt + shortLongTermDebtCash$342.87McashInvested capital$1.45BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 20.1% | 0.25xEBIT / PP&E · 2026-03-31Operating income / net PP&EOperating income$403.03MoperatingIncomeNet PP&E$1.63BpropertyPlantAndEquipmentNetResult 0.25x |
- Principal due is the current portion of debt.
Latest year inputs (2026)
Net PP&E: $1.63B
Inventory: $851.17M
Total assets: $3.98B
Goodwill: $923.35M
Intangibles: $120.31M
Liabilities: $3.18B
Tangible book: -$243.62M
Shares: 1,005,920,000
Revenue: $5.79B
Capex: $139.35M
D&A: $297.76M
EBITDA: $700.78M
Interest: $154.39M
Short-term debt: $7.00M
Free cash flow: $535.36M
Operating income: $403.03M
Invested capital: $1.45B
Tax rate: 27.8%