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.
Torrid Holdings Inc
Physical assets are 74.0% of total assets, a heavy footprint. Capex is 0.13x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets.
Fixed-asset turnover is 6.26x. Compare it with other names in the same basket.
Physical asset ratio
74.0%Physical asset ratio · 2026-01-31(Net PP&E + inventory) / total assetsNet PP&E$159.82MpropertyPlantAndEquipmentNetInventory$136.48MinventoryTotal assets$400.34MtotalAssetsResult 74.0%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
6.26xFixed asset turnover · 2026-01-31Revenue / net PP&ERevenue$1.00BtotalRevenueNet PP&E$159.82MpropertyPlantAndEquipmentNetResult 6.26x
Revenue per dollar of the physical asset base.
Capex / D&A
0.13xCapex / D&A · 2026-01-31Capital expenditures / depreciation and amortizationCapex$8.85McapitalExpendituresD&A$69.47MdepreciationAndAmortizationResult 0.13x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$2.19Tangible book / share · 2026-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$400.34MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$613.75MtotalLiabTangible book-$221.81MShares101,442,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.19
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$2.22Latest quoteTangible book / share-$2.192026-01-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $2.22.
Fixed-charge coverage
1.05xFixed-charge coverage · 2026-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$91.75MebitdaCapex$8.85McapitalExpendituresInterest$31.84MinterestExpenseShort-term debt$47.16MshortLongTermDebtEBITDA − capex$82.90MPrincipal due is the current portion of debt.Result 1.05x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-10.3%Free cash flow yield · 2026-01-31Latest free cash flow / current market capFree cash flow-$21.87MfreeCashFlowMarket cap$211.41MMarketCapitalizationResult -10.3%
Latest free cash flow divided by current market cap ($211.41M).
ROIC
—ROIC · 2026-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$21.40MoperatingIncomeTax expense-$2.53MincomeTaxExpensePretax income-$9.56MincomeBeforeTaxTax rate—Equity-$213.41MtotalStockholderEquityDebt$438.25MshortLongTermDebtTotalCash$20.02McashInvested capital$204.82MROIC needs a positive pretax income so an effective tax rate can be calculated.Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.13x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 86.7%Physical asset ratio · 2019-01-31(Net PP&E + inventory) / total assetsNet PP&E$168.95MpropertyPlantEquipmentInventory$106.23MinventoryTotal assets$317.26MtotalAssetsResult 86.7% | 5.38xFixed asset turnover · 2019-01-31Revenue / net PP&ERevenue$909.15MtotalRevenueNet PP&E$168.95MpropertyPlantEquipmentResult 5.38x | 1.50xCapex / D&A · 2019-01-31Capital expenditures / depreciation and amortizationCapex$40.51McapitalExpendituresD&A$26.98MdepreciationAndAmortizationResult 1.50x | $1.61Tangible book / share · 2019-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$317.26MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.90MintangibleAssetsLiabilities$130.73MtotalLiabTangible book$177.63MShares110,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $1.61 | 5.46xFixed-charge coverage · 2019-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$130.78MebitdaCapex$40.51McapitalExpendituresInterest$1.05MinterestExpenseShort-term debt$15.48MshortTermDebtEBITDA − capex$90.28MPrincipal due is short-term debt.Result 5.46x | $74.59MFree cash flow · 2019-01-31Reported free cash flowOperating cash flow$115.09MtotalCashFromOperatingActivitiesCapex$40.51McapitalExpendituresFree cash flow$74.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $74.59M | 65.9%ROIC · 2019-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$103.72MoperatingIncomeTax expense$16.04MincomeTaxExpensePretax income$102.75MincomeBeforeTaxTax rate15.6%Equity$126.42MtotalStockholderEquityDebt$15.48MshortLongTermDebtTotalCash$9.18McashInvested capital$132.72MResult 65.9% | 0.61xEBIT / PP&E · 2019-01-31Operating income / net PP&EOperating income$103.72MoperatingIncomeNet PP&E$168.95MpropertyPlantEquipmentResult 0.61x |
| 2020 | 90.7%Physical asset ratio · 2020-01-31(Net PP&E + inventory) / total assetsNet PP&E$456.86MpropertyPlantEquipmentInventory$119.71MinventoryTotal assets$635.99MtotalAssetsResult 90.7% | 2.27xFixed asset turnover · 2020-01-31Revenue / net PP&ERevenue$1.04BtotalRevenueNet PP&E$456.86MpropertyPlantEquipmentResult 2.27x | 0.37xCapex / D&A · 2020-01-31Capital expenditures / depreciation and amortizationCapex$26.33McapitalExpendituresD&A$71.60MdepreciationAndAmortizationResult 0.37x | -$0.94Tangible book / share · 2020-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$635.99MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$731.49MtotalLiabTangible book-$103.90MShares110,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$0.94 | 4.80xFixed-charge coverage · 2020-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$148.80MebitdaCapex$26.33McapitalExpendituresInterest$16.49MinterestExpenseShort-term debt$9.03MshortLongTermDebtEBITDA − capex$122.46MPrincipal due is the current portion of debt.Result 4.80x | $72.76MFree cash flow · 2020-01-31Reported free cash flowOperating cash flow$99.09MtotalCashFromOperatingActivitiesCapex$26.33McapitalExpendituresFree cash flow$72.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $72.76M | 42.4%ROIC · 2020-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$76.99MoperatingIncomeTax expense$18.83MincomeTaxExpensePretax income$60.70MincomeBeforeTaxTax rate31.0%Equity-$95.50MtotalStockholderEquityDebt$249.42MlongTermDebt + shortLongTermDebtCash$28.80McashInvested capital$125.12MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 42.4% | 0.17xEBIT / PP&E · 2020-01-31Operating income / net PP&EOperating income$76.99MoperatingIncomeNet PP&E$456.86MpropertyPlantEquipmentResult 0.17x |
| 2021 | 76.2%Physical asset ratio · 2021-01-31(Net PP&E + inventory) / total assetsNet PP&E$387.97MpropertyPlantEquipmentInventory$105.84MinventoryTotal assets$648.21MtotalAssetsResult 76.2% | 2.51xFixed asset turnover · 2021-01-31Revenue / net PP&ERevenue$973.51MtotalRevenueNet PP&E$387.97MpropertyPlantEquipmentResult 2.51x | 0.15xCapex / D&A · 2021-01-31Capital expenditures / depreciation and amortizationCapex$11.57McapitalExpendituresD&A$74.90MdepreciationAndAmortizationResult 0.15x | -$0.65Tangible book / share · 2021-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$648.21MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$711.38MtotalLiabTangible book-$71.57MShares110,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$0.65 | 3.66xFixed-charge coverage · 2021-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$131.76MebitdaCapex$11.57McapitalExpendituresInterest$21.34MinterestExpenseShort-term debt$11.51MshortLongTermDebtEBITDA − capex$120.19MPrincipal due is the current portion of debt.Result 3.66x | $140.25MFree cash flow · 2021-01-31Reported free cash flowOperating cash flow$151.82MtotalCashFromOperatingActivitiesCapex$11.57McapitalExpendituresFree cash flow$140.25MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $140.25M | 208.8%ROIC · 2021-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$56.82MoperatingIncomeTax expense$10.99MincomeTaxExpensePretax income$35.53MincomeBeforeTaxTax rate30.9%Equity-$63.17MtotalStockholderEquityDebt$204.91MlongTermDebt + shortLongTermDebtCash$122.95McashInvested capital$18.79MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 208.8% | 0.15xEBIT / PP&E · 2021-01-31Operating income / net PP&EOperating income$56.82MoperatingIncomeNet PP&E$387.97MpropertyPlantEquipmentResult 0.15x |
| 2022 | 87.8%Physical asset ratio · 2022-01-31(Net PP&E + inventory) / total assetsNet PP&E$337.20MpropertyPlantEquipmentInventory$170.61MinventoryTotal assets$578.50MtotalAssetsResult 87.8% | 3.79xFixed asset turnover · 2022-01-31Revenue / net PP&ERevenue$1.28BtotalRevenueNet PP&E$337.20MpropertyPlantEquipmentResult 3.79x | 0.22xCapex / D&A · 2022-01-31Capital expenditures / depreciation and amortizationCapex$17.55McapitalExpendituresD&A$78.40MdepreciationAndAmortizationResult 0.22x | -$2.43Tangible book / share · 2022-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$578.50MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$836.82MtotalLiabTangible book-$266.72MShares109,886,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.43 | 2.12xFixed-charge coverage · 2022-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$123.78MebitdaCapex$17.55McapitalExpendituresInterest$29.55MinterestExpenseShort-term debt$20.52MshortLongTermDebtEBITDA − capex$106.23MPrincipal due is the current portion of debt.Result 2.12x | $103.67MFree cash flow · 2022-01-31Reported free cash flowOperating cash flow$121.22MtotalCashFromOperatingActivitiesCapex$17.55McapitalExpendituresFree cash flow$103.67MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $103.67M | 50.4%ROIC · 2022-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$45.38MoperatingIncomeTax expense$45.77MincomeTaxExpensePretax income$15.83MincomeBeforeTaxTax rate40.0%Equity-$258.32MtotalStockholderEquityDebt$341.36MlongTermDebt + shortLongTermDebtCash$29.03McashInvested capital$54.02MThe effective tax rate was above 40% and was capped at 40%.Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 50.4% | 0.13xEBIT / PP&E · 2022-01-31Operating income / net PP&EOperating income$45.38MoperatingIncomeNet PP&E$337.20MpropertyPlantEquipmentResult 0.13x |
| 2023 | 89.3%Physical asset ratio · 2023-01-31(Net PP&E + inventory) / total assetsNet PP&E$290.79MpropertyPlantAndEquipmentNetInventory$180.06MinventoryTotal assets$527.26MtotalAssetsResult 89.3% | 4.43xFixed asset turnover · 2023-01-31Revenue / net PP&ERevenue$1.29BtotalRevenueNet PP&E$290.79MpropertyPlantAndEquipmentNetResult 4.43x | 0.29xCapex / D&A · 2023-01-31Capital expenditures / depreciation and amortizationCapex$23.37McapitalExpendituresD&A$79.43MdepreciationAndAmortizationResult 0.29x | -$2.28Tangible book / share · 2023-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$527.26MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$757.49MtotalLiabTangible book-$238.62MShares104,489,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.28 | 2.90xFixed-charge coverage · 2023-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$181.06MebitdaCapex$23.37McapitalExpendituresInterest$29.94MinterestExpenseShort-term debt$24.52MshortLongTermDebtEBITDA − capex$157.69MPrincipal due is the current portion of debt.Result 2.90x | $29.94MFree cash flow · 2023-01-31Reported free cash flowOperating cash flow$53.31MtotalCashFromOperatingActivitiesCapex$23.37McapitalExpendituresFree cash flow$29.94MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $29.94M | 83.3%ROIC · 2023-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$101.63MoperatingIncomeTax expense$21.47MincomeTaxExpensePretax income$71.68MincomeBeforeTaxTax rate30.0%Equity-$230.22MtotalStockholderEquityDebt$329.22MlongTermDebt + shortLongTermDebtCash$13.57McashInvested capital$85.43MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 83.3% | 0.35xEBIT / PP&E · 2023-01-31Operating income / net PP&EOperating income$101.63MoperatingIncomeNet PP&E$290.79MpropertyPlantAndEquipmentNetResult 0.35x |
| 2024 | 85.6%Physical asset ratio · 2024-01-31(Net PP&E + inventory) / total assetsNet PP&E$265.96MpropertyPlantAndEquipmentNetInventory$142.20MinventoryTotal assets$476.95MtotalAssetsResult 85.6% | 4.33xFixed asset turnover · 2024-01-31Revenue / net PP&ERevenue$1.15BtotalRevenueNet PP&E$265.96MpropertyPlantAndEquipmentNetResult 4.33x | 0.33xCapex / D&A · 2024-01-31Capital expenditures / depreciation and amortizationCapex$26.00McapitalExpendituresD&A$79.37MdepreciationAndAmortizationResult 0.33x | -$2.11Tangible book / share · 2024-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$476.95MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$688.66MtotalLiabTangible book-$220.12MShares104,400,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.11 | 1.77xFixed-charge coverage · 2024-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$136.61MebitdaCapex$26.00McapitalExpendituresInterest$39.20MinterestExpenseShort-term debt$23.41MshortLongTermDebtEBITDA − capex$110.60MPrincipal due is the current portion of debt.Result 1.77x | $16.77MFree cash flow · 2024-01-31Reported free cash flowOperating cash flow$42.77MtotalCashFromOperatingActivitiesCapex$26.00McapitalExpendituresFree cash flow$16.77MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $16.77M | 41.6%ROIC · 2024-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$57.15MoperatingIncomeTax expense$6.42MincomeTaxExpensePretax income$18.04MincomeBeforeTaxTax rate35.6%Equity-$211.72MtotalStockholderEquityDebt$311.97MlongTermDebt + shortLongTermDebtCash$11.74McashInvested capital$88.52MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 41.6% | 0.21xEBIT / PP&E · 2024-01-31Operating income / net PP&EOperating income$57.15MoperatingIncomeNet PP&E$265.96MpropertyPlantAndEquipmentNetResult 0.21x |
| 2025 | 75.1%Physical asset ratio · 2025-01-31(Net PP&E + inventory) / total assetsNet PP&E$218.32MpropertyPlantAndEquipmentNetInventory$148.49MinventoryTotal assets$488.44MtotalAssetsResult 75.1% | 5.06xFixed asset turnover · 2025-01-31Revenue / net PP&ERevenue$1.10BtotalRevenueNet PP&E$218.32MpropertyPlantAndEquipmentNetResult 5.06x | 0.18xCapex / D&A · 2025-01-31Capital expenditures / depreciation and amortizationCapex$14.39McapitalExpendituresD&A$77.81MdepreciationAndAmortizationResult 0.18x | -$1.89Tangible book / share · 2025-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$488.44MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$679.53MtotalLiabTangible book-$199.49MShares105,684,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$1.89 | 2.33xFixed-charge coverage · 2025-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$135.05MebitdaCapex$14.39McapitalExpendituresInterest$35.63MinterestExpenseShort-term debt$16.14MshortLongTermDebtEBITDA − capex$120.66MPrincipal due is the current portion of debt.Result 2.33x | $63.00MFree cash flow · 2025-01-31Reported free cash flowOperating cash flow$77.39MtotalCashFromOperatingActivitiesCapex$14.39McapitalExpendituresFree cash flow$63.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $63.00M | 88.3%ROIC · 2025-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$57.21MoperatingIncomeTax expense$5.29MincomeTaxExpensePretax income$21.60MincomeBeforeTaxTax rate24.5%Equity-$191.09MtotalStockholderEquityDebt$288.55MlongTermDebt + shortLongTermDebtCash$48.52McashInvested capital$48.94MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 88.3% | 0.26xEBIT / PP&E · 2025-01-31Operating income / net PP&EOperating income$57.21MoperatingIncomeNet PP&E$218.32MpropertyPlantAndEquipmentNetResult 0.26x |
| 2026 | 74.0%Physical asset ratio · 2026-01-31(Net PP&E + inventory) / total assetsNet PP&E$159.82MpropertyPlantAndEquipmentNetInventory$136.48MinventoryTotal assets$400.34MtotalAssetsResult 74.0% | 6.26xFixed asset turnover · 2026-01-31Revenue / net PP&ERevenue$1.00BtotalRevenueNet PP&E$159.82MpropertyPlantAndEquipmentNetResult 6.26x | 0.13xCapex / D&A · 2026-01-31Capital expenditures / depreciation and amortizationCapex$8.85McapitalExpendituresD&A$69.47MdepreciationAndAmortizationResult 0.13x | -$2.19Tangible book / share · 2026-01-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$400.34MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$8.40MintangibleAssetsLiabilities$613.75MtotalLiabTangible book-$221.81MShares101,442,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.19 | 1.05xFixed-charge coverage · 2026-01-31(EBITDA − capex) / (interest + short-term debt)EBITDA$91.75MebitdaCapex$8.85McapitalExpendituresInterest$31.84MinterestExpenseShort-term debt$47.16MshortLongTermDebtEBITDA − capex$82.90MPrincipal due is the current portion of debt.Result 1.05x | -$21.87MFree cash flow · 2026-01-31Reported free cash flowOperating cash flow-$13.01MtotalCashFromOperatingActivitiesCapex$8.85McapitalExpendituresFree cash flow-$21.87MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$21.87M | —ROIC · 2026-01-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$21.40MoperatingIncomeTax expense-$2.53MincomeTaxExpensePretax income-$9.56MincomeBeforeTaxTax rate—Equity-$213.41MtotalStockholderEquityDebt$438.25MshortLongTermDebtTotalCash$20.02McashInvested capital$204.82MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.13xEBIT / PP&E · 2026-01-31Operating income / net PP&EOperating income$21.40MoperatingIncomeNet PP&E$159.82MpropertyPlantAndEquipmentNetResult 0.13x |
- Principal due is the current portion of debt.
Latest year inputs (2026)
Net PP&E: $159.82M
Inventory: $136.48M
Total assets: $400.34M
Goodwill: $0.00
Intangibles: $8.40M
Liabilities: $613.75M
Tangible book: -$221.81M
Shares: 101,442,000
Revenue: $1.00B
Capex: $8.85M
D&A: $69.47M
EBITDA: $91.75M
Interest: $31.84M
Short-term debt: $47.16M
Free cash flow: -$21.87M
Operating income: $21.40M
Invested capital: $204.82M
Tax rate: —