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.
PT Black Diamond Resources Tbk
Physical assets are 91.2% of total assets, a heavy footprint. Capex is 1.33x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by 0.05x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 0.52x.
Physical asset ratio
91.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 466.46BpropertyPlantAndEquipmentNetInventoryIDR 265.53BinventoryTotal assetsIDR 803.02BtotalAssetsResult 91.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.52xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueIDR 242.94BtotalRevenueNet PP&EIDR 466.46BpropertyPlantAndEquipmentNetResult 0.52x
Revenue per dollar of the physical asset base.
Capex / D&A
1.33xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexIDR 62.39BcapitalExpendituresD&AIDR 46.81BdepreciationAndAmortizationResult 1.33x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
IDR 58.59Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 803.02BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 436.87BtotalLiabTangible bookIDR 366.16BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 58.59
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.53xPrice / tangible bookPrice / tangible book per sharePriceIDR 31.00Latest quoteTangible book / shareIDR 58.592025-12-31Result 0.53x
Price IDR 31.00.
Fixed-charge coverage
0.05xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 72.89BebitdaCapexIDR 62.39BcapitalExpendituresInterestIDR 18.76BinterestExpenseShort-term debtIDR 195.00BshortTermDebtEBITDA − capexIDR 10.50BPrincipal due is short-term debt.Result 0.05x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-19.3%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-IDR 37.30BfreeCashFlowMarket capIDR 193.75BMarketCapitalizationResult -19.3%
Latest free cash flow divided by current market cap (IDR 193.75B).
ROIC
2.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 26.08BoperatingIncomeTax expenseIDR 4.08BincomeTaxExpensePretax incomeIDR 8.40BincomeBeforeTaxTax rate40.0%EquityIDR 362.97BtotalStockholderEquityDebtIDR 195.00BshortLongTermDebtTotalCashIDR 14.29BcashInvested capitalIDR 543.67BThe effective tax rate was above 40% and was capped at 40%.Result 2.9%
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 |
|---|---|---|---|---|---|---|---|---|
| 2020 | 94.9%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 49.58BpropertyPlantAndEquipmentNetInventoryIDR 0.00Not reported, treated as 0Total assetsIDR 52.25BtotalAssetsInventory was not reported and is treated as zero.Result 94.9% | 0.03xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueIDR 1.41BtotalRevenueNet PP&EIDR 49.58BpropertyPlantAndEquipmentNetResult 0.03x | 8.07xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexIDR 4.35BcapitalExpendituresD&AIDR 538.73MdepreciationAndAmortizationResult 8.07x | IDR 4.20Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 52.25BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 50.77BtotalLiabTangible bookIDR 1.48BShares352,486,188commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 4.20 | —Fixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 555.55MebitdaCapexIDR 4.35BcapitalExpendituresInterest—Not reportedShort-term debtIDR 48.49BshortTermDebtEBITDA − capex-IDR 3.79BPrincipal due is short-term debt.Result — | -IDR 5.35BFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-IDR 999.88MtotalCashFromOperatingActivitiesCapexIDR 4.35BcapitalExpendituresFree cash flow-IDR 5.35BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 5.35B | 0.3%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 175.53MoperatingIncomeTax expense-IDR 36.11MincomeTaxExpensePretax incomeIDR 16.82MincomeBeforeTaxTax rate0.0%EquityIDR 1.51BtotalStockholderEquityDebtIDR 49.83BshortLongTermDebtTotalCashIDR 1.01BcashInvested capitalIDR 50.34BResult 0.3% | 0.00xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeIDR 175.53MoperatingIncomeNet PP&EIDR 49.58BpropertyPlantAndEquipmentNetResult 0.00x |
| 2021 | 60.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 83.70BpropertyPlantAndEquipmentNetInventoryIDR 34.85BinventoryTotal assetsIDR 197.59BtotalAssetsResult 60.0% | 2.05xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueIDR 171.70BtotalRevenueNet PP&EIDR 83.70BpropertyPlantAndEquipmentNetResult 2.05x | 25.42xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexIDR 59.70BcapitalExpendituresD&AIDR 2.35BdepreciationAndAmortizationResult 25.42x | IDR 12.69Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 197.59BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 118.28BtotalLiabTangible bookIDR 79.31BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 12.69 | -2.43xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 38.25BebitdaCapexIDR 59.70BcapitalExpendituresInterestIDR 659.02MinterestExpenseShort-term debtIDR 8.16BshortTermDebtEBITDA − capex-IDR 21.45BPrincipal due is short-term debt.Result -2.43x | -IDR 15.30BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowIDR 44.41BtotalCashFromOperatingActivitiesCapexIDR 59.70BcapitalExpendituresFree cash flow-IDR 15.30BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 15.30B | 31.0%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 36.64BoperatingIncomeTax expenseIDR 7.92BincomeTaxExpensePretax incomeIDR 35.24BincomeBeforeTaxTax rate22.5%EquityIDR 75.51BtotalStockholderEquityDebtIDR 27.34BshortLongTermDebtTotalCashIDR 11.18BcashInvested capitalIDR 91.68BResult 31.0% | 0.44xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeIDR 36.64BoperatingIncomeNet PP&EIDR 83.70BpropertyPlantAndEquipmentNetResult 0.44x |
| 2022 | 68.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 256.16BpropertyPlantEquipmentInventoryIDR 156.84BinventoryTotal assetsIDR 603.17BtotalAssetsUses the property line, which is larger than net PP&E (IDR 179.67B, propertyPlantAndEquipmentNet).Result 68.5% | 2.70xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueIDR 692.74BtotalRevenueNet PP&EIDR 256.16BpropertyPlantEquipmentResult 2.70x | 3.46xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexIDR 117.91BcapitalExpendituresD&AIDR 34.07BdepreciationAndAmortizationResult 3.46x | IDR 46.28Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 603.17BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 313.92BtotalLiabTangible bookIDR 289.25BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 46.28 | 0.30xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 168.22BebitdaCapexIDR 117.91BcapitalExpendituresInterestIDR 14.92BinterestExpenseShort-term debtIDR 150.37BshortTermDebtEBITDA − capexIDR 50.31BPrincipal due is short-term debt.Result 0.30x | -IDR 106.01BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowIDR 11.90BtotalCashFromOperatingActivitiesCapexIDR 117.91BcapitalExpendituresFree cash flow-IDR 106.01BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 106.01B | 50.8%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 132.04BoperatingIncomeTax expenseIDR 28.34BincomeTaxExpensePretax incomeIDR 119.24BincomeBeforeTaxTax rate23.8%EquityIDR 286.73BtotalStockholderEquityDebtIDR 9.64BlongTermDebt + shortLongTermDebtCashIDR 98.36BcashAndShortTermInvestmentsInvested capitalIDR 198.01BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 50.8% | 0.52xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeIDR 132.04BoperatingIncomeNet PP&EIDR 256.16BpropertyPlantEquipmentResult 0.52x |
| 2023 | 59.2%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 254.15BpropertyPlantEquipmentInventoryIDR 129.50BinventoryTotal assetsIDR 647.57BtotalAssetsResult 59.2% | 2.67xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueIDR 679.09BtotalRevenueNet PP&EIDR 254.15BpropertyPlantEquipmentResult 2.67x | 0.47xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexIDR 19.93BcapitalExpendituresD&AIDR 42.55BdepreciationAndAmortizationResult 0.47x | IDR 52.47Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 647.57BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 319.63BtotalLiabTangible bookIDR 327.94BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 52.47 | 0.62xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 108.37BebitdaCapexIDR 19.93BcapitalExpendituresInterestIDR 14.81BinterestExpenseShort-term debtIDR 128.12BshortTermDebtEBITDA − capexIDR 88.44BPrincipal due is short-term debt.Result 0.62x | -IDR 23.68BFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-IDR 3.75BtotalCashFromOperatingActivitiesCapexIDR 19.93BcapitalExpendituresFree cash flow-IDR 23.68BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 23.68B | 18.6%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 64.07BoperatingIncomeTax expenseIDR 12.40BincomeTaxExpensePretax incomeIDR 51.02BincomeBeforeTaxTax rate24.3%EquityIDR 325.09BtotalStockholderEquityDebtIDR 1.06BlongTermDebt + shortLongTermDebtCashIDR 66.08BcashAndShortTermInvestmentsInvested capitalIDR 260.07BReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 18.6% | 0.25xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeIDR 64.07BoperatingIncomeNet PP&EIDR 254.15BpropertyPlantEquipmentResult 0.25x |
| 2024 | 76.2%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 451.30BpropertyPlantEquipmentInventoryIDR 164.66BinventoryTotal assetsIDR 807.84BtotalAssetsResult 76.2% | 1.08xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueIDR 486.16BtotalRevenueNet PP&EIDR 451.30BpropertyPlantEquipmentResult 1.08x | 5.85xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexIDR 238.52BcapitalExpendituresD&AIDR 40.74BdepreciationAndAmortizationResult 5.85x | IDR 57.87Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 807.84BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 446.15BtotalLiabTangible bookIDR 361.69BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 57.87 | -0.95xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 100.19BebitdaCapexIDR 238.52BcapitalExpendituresInterestIDR 15.10BinterestExpenseShort-term debtIDR 130.00BshortTermDebtEBITDA − capex-IDR 138.34BPrincipal due is short-term debt.Result -0.95x | -IDR 53.37BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowIDR 185.15BtotalCashFromOperatingActivitiesCapexIDR 238.52BcapitalExpendituresFree cash flow-IDR 53.37BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 53.37B | 8.6%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 54.48BoperatingIncomeTax expenseIDR 10.90BincomeTaxExpensePretax incomeIDR 44.34BincomeBeforeTaxTax rate24.6%EquityIDR 358.54BtotalStockholderEquityDebtIDR 130.00BshortLongTermDebtTotalCashIDR 9.32BcashInvested capitalIDR 479.22BResult 8.6% | 0.12xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeIDR 54.48BoperatingIncomeNet PP&EIDR 451.30BpropertyPlantEquipmentResult 0.12x |
| 2025 | 91.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EIDR 466.46BpropertyPlantAndEquipmentNetInventoryIDR 265.53BinventoryTotal assetsIDR 803.02BtotalAssetsResult 91.2% | 0.52xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueIDR 242.94BtotalRevenueNet PP&EIDR 466.46BpropertyPlantAndEquipmentNetResult 0.52x | 1.33xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexIDR 62.39BcapitalExpendituresD&AIDR 46.81BdepreciationAndAmortizationResult 1.33x | IDR 58.59Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsIDR 803.02BtotalAssetsGoodwillIDR 0.00Not reported, treated as 0IntangiblesIDR 0.00Not reported, treated as 0LiabilitiesIDR 436.87BtotalLiabTangible bookIDR 366.16BShares6,250,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result IDR 58.59 | 0.05xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAIDR 72.89BebitdaCapexIDR 62.39BcapitalExpendituresInterestIDR 18.76BinterestExpenseShort-term debtIDR 195.00BshortTermDebtEBITDA − capexIDR 10.50BPrincipal due is short-term debt.Result 0.05x | -IDR 37.30BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowIDR 25.09BtotalCashFromOperatingActivitiesCapexIDR 62.39BcapitalExpendituresFree cash flow-IDR 37.30BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -IDR 37.30B | 2.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeIDR 26.08BoperatingIncomeTax expenseIDR 4.08BincomeTaxExpensePretax incomeIDR 8.40BincomeBeforeTaxTax rate40.0%EquityIDR 362.97BtotalStockholderEquityDebtIDR 195.00BshortLongTermDebtTotalCashIDR 14.29BcashInvested capitalIDR 543.67BThe effective tax rate was above 40% and was capped at 40%.Result 2.9% | 0.06xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeIDR 26.08BoperatingIncomeNet PP&EIDR 466.46BpropertyPlantAndEquipmentNetResult 0.06x |
- Principal due is short-term debt, the amount reported as due within a year.
- The effective tax rate was above 40% and was capped at 40% for ROIC.
Latest year inputs (2025)
Net PP&E: IDR 466.46B
Inventory: IDR 265.53B
Total assets: IDR 803.02B
Goodwill: IDR 0.00
Intangibles: IDR 0.00
Liabilities: IDR 436.87B
Tangible book: IDR 366.16B
Shares: 6,250,000,000
Revenue: IDR 242.94B
Capex: IDR 62.39B
D&A: IDR 46.81B
EBITDA: IDR 72.89B
Interest: IDR 18.76B
Short-term debt: IDR 195.00B
Free cash flow: -IDR 37.30B
Operating income: IDR 26.08B
Invested capital: IDR 543.67B
Tax rate: 40.0%