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.
Elco Ltd
Physical assets are 34.9% of total assets, a mixed footprint. Capex is 1.00x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by 0.15x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 3.89x.
Physical asset ratio
34.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 5.81BpropertyPlantAndEquipmentNetInventoryILA 3.64BinventoryTotal assetsILA 27.10BtotalAssetsResult 34.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.89xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 22.59BtotalRevenueNet PP&EILA 5.81BpropertyPlantAndEquipmentNetResult 3.89x
Revenue per dollar of the physical asset base.
Capex / D&A
1.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 962.00McapitalExpendituresD&AILA 962.00MdepreciationAndAmortizationResult 1.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
ILA 26.12Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 27.10BtotalAssetsGoodwillILA 3.64BgoodWillIntangiblesILA 773.00MintangibleAssetsLiabilitiesILA 21.98BtotalLiabTangible bookILA 706.00MShares27,027,027commonStockSharesOutstandingResult ILA 26.12
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
416.89xPrice / tangible bookPrice / tangible book per sharePriceILA 10.89KLatest quoteTangible book / shareILA 26.122025-12-31Result 416.89x
Price ILA 10.89K.
Fixed-charge coverage
0.15xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.75BebitdaCapexILA 962.00McapitalExpendituresInterestILA 562.00MinterestExpenseShort-term debtILA 4.54BshortLongTermDebtEBITDA − capexILA 784.00MPrincipal due is the current portion of debt.Result 0.15x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-0.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-ILA 19.00MfreeCashFlowMarket capILA 2.85BMarketCapitalizationResult -0.7%
Latest free cash flow divided by current market cap (ILA 2.85B).
ROIC
3.4%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 653.00MoperatingIncomeTax expenseILA 74.00MincomeTaxExpensePretax incomeILA 222.00MincomeBeforeTaxTax rate33.3%EquityILA 2.09BtotalStockholderEquityDebtILA 12.66BshortLongTermDebtTotalCashILA 2.01BcashAndShortTermInvestmentsInvested capitalILA 12.75BResult 3.4%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.11x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 16.5%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 491.62MpropertyPlantAndEquipmentNetInventoryILA 1.06BinventoryTotal assetsILA 9.38BtotalAssetsResult 16.5% | 18.28xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueILA 8.99BtotalRevenueNet PP&EILA 491.62MpropertyPlantAndEquipmentNetResult 18.28x | 0.85xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexILA 149.22McapitalExpendituresD&AILA 176.23MdepreciationAndAmortizationResult 0.85x | -ILA 74.37Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 9.38BtotalAssetsGoodwillILA 2.11BgoodWillIntangiblesILA 2.11BintangibleAssetsLiabilitiesILA 7.22BtotalLiabTangible book-ILA 2.05BShares27,630,000commonStockSharesOutstandingResult -ILA 74.37 | -0.03xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 123.23MebitdaCapexILA 149.22McapitalExpendituresInterestILA 177.28MinterestExpenseShort-term debtILA 847.17MshortTermDebtEBITDA − capex-ILA 25.99MPrincipal due is short-term debt.Result -0.03x | ILA 30.25MFree cash flow · 2018-12-31Reported free cash flowOperating cash flowILA 179.47MtotalCashFromOperatingActivitiesCapexILA 149.22McapitalExpendituresFree cash flowILA 30.25MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 30.25M | 3.5%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 123.23MoperatingIncomeTax expenseILA 58.55MincomeTaxExpensePretax incomeILA 275.10MincomeBeforeTaxTax rate21.3%EquityILA 1.18BtotalStockholderEquityDebtILA 2.65BlongTermDebt + shortLongTermDebtCashILA 1.05BcashAndShortTermInvestmentsInvested capitalILA 2.77BResult 3.5% | 0.25xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeILA 123.23MoperatingIncomeNet PP&EILA 491.62MpropertyPlantAndEquipmentNetResult 0.25x |
| 2019 | 20.1%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 1.43BpropertyPlantAndEquipmentNetInventoryILA 946.58MinventoryTotal assetsILA 11.85BtotalAssetsResult 20.1% | 7.06xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueILA 10.11BtotalRevenueNet PP&EILA 1.43BpropertyPlantAndEquipmentNetResult 7.06x | 1.13xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexILA 387.60McapitalExpendituresD&AILA 343.63MdepreciationAndAmortizationResult 1.13x | -ILA 24.30Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 11.85BtotalAssetsGoodwillILA 2.15BgoodWillIntangiblesILA 1.01BintangibleAssetsLiabilitiesILA 9.35BtotalLiabTangible book-ILA 667.34MShares27,462,000commonStockSharesOutstandingResult -ILA 24.30 | 0.65xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 936.26MebitdaCapexILA 387.60McapitalExpendituresInterestILA 121.04MinterestExpenseShort-term debtILA 729.53MshortLongTermDebtEBITDA − capexILA 548.66MPrincipal due is the current portion of debt.Result 0.65x | ILA 460.58MFree cash flow · 2019-12-31Reported free cash flowOperating cash flowILA 848.18MtotalCashFromOperatingActivitiesCapexILA 387.60McapitalExpendituresFree cash flowILA 460.58MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 460.58M | 12.3%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 668.86MoperatingIncomeTax expenseILA 129.47MincomeTaxExpensePretax incomeILA 670.21MincomeBeforeTaxTax rate19.3%EquityILA 1.34BtotalStockholderEquityDebtILA 3.99BshortLongTermDebtTotalCashILA 952.34McashAndShortTermInvestmentsInvested capitalILA 4.38BResult 12.3% | 0.47xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeILA 668.86MoperatingIncomeNet PP&EILA 1.43BpropertyPlantAndEquipmentNetResult 0.47x |
| 2020 | 21.3%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 1.45BpropertyPlantAndEquipmentNetInventoryILA 1.03BinventoryTotal assetsILA 11.67BtotalAssetsResult 21.3% | 7.57xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueILA 10.97BtotalRevenueNet PP&EILA 1.45BpropertyPlantAndEquipmentNetResult 7.57x | 0.94xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexILA 342.02McapitalExpendituresD&AILA 363.92MdepreciationAndAmortizationResult 0.94x | ILA 20.80Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 11.67BtotalAssetsGoodwillILA 1.40BgoodWillIntangiblesILA 1.06BintangibleAssetsLiabilitiesILA 8.65BtotalLiabTangible bookILA 572.07MShares27,499,000commonStockSharesOutstandingResult ILA 20.80 | 1.03xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 976.07MebitdaCapexILA 342.02McapitalExpendituresInterestILA 83.94MinterestExpenseShort-term debtILA 532.18MshortLongTermDebtEBITDA − capexILA 634.05MPrincipal due is the current portion of debt.Result 1.03x | ILA 574.08MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowILA 916.10MtotalCashFromOperatingActivitiesCapexILA 342.02McapitalExpendituresFree cash flowILA 574.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 574.08M | 12.5%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 632.98MoperatingIncomeTax expenseILA 131.90MincomeTaxExpensePretax incomeILA 511.02MincomeBeforeTaxTax rate25.8%EquityILA 1.60BtotalStockholderEquityDebtILA 3.57BshortLongTermDebtTotalCashILA 1.40BcashAndShortTermInvestmentsInvested capitalILA 3.76BResult 12.5% | 0.44xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeILA 632.98MoperatingIncomeNet PP&EILA 1.45BpropertyPlantAndEquipmentNetResult 0.44x |
| 2021 | 27.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.45BpropertyPlantAndEquipmentNetInventoryILA 1.83BinventoryTotal assetsILA 19.04BtotalAssetsResult 27.7% | 4.29xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueILA 14.82BtotalRevenueNet PP&EILA 3.45BpropertyPlantAndEquipmentNetResult 4.29x | 0.79xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexILA 465.80McapitalExpendituresD&AILA 593.24MdepreciationAndAmortizationResult 0.79x | -ILA 18.44Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 19.04BtotalAssetsGoodwillILA 3.38BgoodWillIntangiblesILA 1.50BintangibleAssetsLiabilitiesILA 14.67BtotalLiabTangible book-ILA 507.47MShares27,522,000commonStockSharesOutstandingResult -ILA 18.44 | 0.84xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.98BebitdaCapexILA 465.80McapitalExpendituresInterestILA 236.75MinterestExpenseShort-term debtILA 1.56BshortLongTermDebtEBITDA − capexILA 1.51BPrincipal due is the current portion of debt.Result 0.84x | -ILA 610.50MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-ILA 144.70MtotalCashFromOperatingActivitiesCapexILA 465.80McapitalExpendituresFree cash flow-ILA 610.50MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 610.50M | 12.4%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.34BoperatingIncomeTax expenseILA 212.22MincomeTaxExpensePretax incomeILA 1.17BincomeBeforeTaxTax rate18.1%EquityILA 2.06BtotalStockholderEquityDebtILA 7.93BshortLongTermDebtTotalCashILA 1.13BcashAndShortTermInvestmentsInvested capitalILA 8.86BResult 12.4% | 0.39xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeILA 1.34BoperatingIncomeNet PP&EILA 3.45BpropertyPlantAndEquipmentNetResult 0.39x |
| 2022 | 26.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.81BpropertyPlantEquipmentInventoryILA 2.18BinventoryTotal assetsILA 22.85BtotalAssetsResult 26.2% | 4.90xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueILA 18.70BtotalRevenueNet PP&EILA 3.81BpropertyPlantEquipmentResult 4.90x | 0.73xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexILA 565.42McapitalExpendituresD&AILA 775.30MdepreciationAndAmortizationResult 0.73x | ILA 26.93Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 22.85BtotalAssetsGoodwillILA 3.63BgoodWillIntangiblesILA 1.08BintangibleAssetsLiabilitiesILA 17.40BtotalLiabTangible bookILA 738.06MShares27,411,000commonStockSharesOutstandingResult ILA 26.93 | 0.67xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 2.35BebitdaCapexILA 565.42McapitalExpendituresInterestILA 290.66MinterestExpenseShort-term debtILA 2.38BshortLongTermDebtEBITDA − capexILA 1.78BPrincipal due is the current portion of debt.Result 0.67x | -ILA 234.67MFree cash flow · 2022-12-31Reported free cash flowOperating cash flowILA 330.75MtotalCashFromOperatingActivitiesCapexILA 565.42McapitalExpendituresFree cash flow-ILA 234.67MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 234.67M | 15.6%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 1.65BoperatingIncomeTax expense-ILA 400.32MincomeTaxExpensePretax incomeILA 1.27BincomeBeforeTaxTax rate0.0%EquityILA 2.58BtotalStockholderEquityDebtILA 9.34BshortLongTermDebtTotalCashILA 1.33BcashAndShortTermInvestmentsInvested capitalILA 10.59BResult 15.6% | 0.43xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeILA 1.65BoperatingIncomeNet PP&EILA 3.81BpropertyPlantEquipmentResult 0.43x |
| 2023 | 30.1%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 4.35BpropertyPlantAndEquipmentNetInventoryILA 2.86BinventoryTotal assetsILA 23.98BtotalAssetsResult 30.1% | 4.30xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueILA 18.70BtotalRevenueNet PP&EILA 4.35BpropertyPlantAndEquipmentNetResult 4.30x | 1.13xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexILA 999.39McapitalExpendituresD&AILA 887.29MdepreciationAndAmortizationResult 1.13x | ILA 17.09Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 23.98BtotalAssetsGoodwillILA 3.59BgoodWillIntangiblesILA 930.76MintangibleAssetsLiabilitiesILA 18.99BtotalLiabTangible bookILA 464.84MShares27,206,000commonStockSharesOutstandingResult ILA 17.09 | 0.00xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.01BebitdaCapexILA 999.39McapitalExpendituresInterestILA 532.00MinterestExpenseShort-term debtILA 2.75BshortLongTermDebtEBITDA − capexILA 6.90MPrincipal due is the current portion of debt.Result 0.00x | -ILA 561.91MFree cash flow · 2023-12-31Reported free cash flowOperating cash flowILA 437.48MtotalCashFromOperatingActivitiesCapexILA 999.39McapitalExpendituresFree cash flow-ILA 561.91MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 561.91M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 71.77MoperatingIncomeTax expenseILA 50.97MincomeTaxExpensePretax income-ILA 368.92MincomeBeforeTaxTax rate—EquityILA 2.25BtotalStockholderEquityDebtILA 10.45BshortLongTermDebtTotalCashILA 1.15BcashAndShortTermInvestmentsInvested capitalILA 11.55BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.02xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeILA 71.77MoperatingIncomeNet PP&EILA 4.35BpropertyPlantAndEquipmentNetResult 0.02x |
| 2024 | 31.9%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 5.37BpropertyPlantAndEquipmentNetInventoryILA 2.93BinventoryTotal assetsILA 26.05BtotalAssetsResult 31.9% | 3.84xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueILA 20.61BtotalRevenueNet PP&EILA 5.37BpropertyPlantAndEquipmentNetResult 3.84x | 1.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexILA 916.00McapitalExpendituresD&AILA 914.00MdepreciationAndAmortizationResult 1.00x | ILA 24.59Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 26.05BtotalAssetsGoodwillILA 3.60BgoodWillIntangiblesILA 857.00MintangibleAssetsLiabilitiesILA 20.93BtotalLiabTangible bookILA 662.00MShares26,924,000commonStockSharesOutstandingResult ILA 24.59 | 0.12xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.35BebitdaCapexILA 916.00McapitalExpendituresInterestILA 617.00MinterestExpenseShort-term debtILA 2.95BshortLongTermDebtEBITDA − capexILA 433.00MPrincipal due is the current portion of debt.Result 0.12x | ILA 22.00MFree cash flow · 2024-12-31Reported free cash flowOperating cash flowILA 938.00MtotalCashFromOperatingActivitiesCapexILA 916.00McapitalExpendituresFree cash flowILA 22.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 22.00M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 578.00MoperatingIncomeTax expenseILA 32.00MincomeTaxExpensePretax income-ILA 70.00MincomeBeforeTaxTax rate—EquityILA 2.11BtotalStockholderEquityDebtILA 12.38BshortLongTermDebtTotalCashILA 1.80BcashAndShortTermInvestmentsInvested capitalILA 12.69BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.11xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeILA 578.00MoperatingIncomeNet PP&EILA 5.37BpropertyPlantAndEquipmentNetResult 0.11x |
| 2025 | 34.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 5.81BpropertyPlantAndEquipmentNetInventoryILA 3.64BinventoryTotal assetsILA 27.10BtotalAssetsResult 34.9% | 3.89xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 22.59BtotalRevenueNet PP&EILA 5.81BpropertyPlantAndEquipmentNetResult 3.89x | 1.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 962.00McapitalExpendituresD&AILA 962.00MdepreciationAndAmortizationResult 1.00x | ILA 26.12Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 27.10BtotalAssetsGoodwillILA 3.64BgoodWillIntangiblesILA 773.00MintangibleAssetsLiabilitiesILA 21.98BtotalLiabTangible bookILA 706.00MShares27,027,027commonStockSharesOutstandingResult ILA 26.12 | 0.15xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 1.75BebitdaCapexILA 962.00McapitalExpendituresInterestILA 562.00MinterestExpenseShort-term debtILA 4.54BshortLongTermDebtEBITDA − capexILA 784.00MPrincipal due is the current portion of debt.Result 0.15x | -ILA 19.00MFree cash flow · 2025-12-31Reported free cash flowOperating cash flowILA 943.00MtotalCashFromOperatingActivitiesCapexILA 962.00McapitalExpendituresFree cash flow-ILA 19.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 19.00M | 3.4%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 653.00MoperatingIncomeTax expenseILA 74.00MincomeTaxExpensePretax incomeILA 222.00MincomeBeforeTaxTax rate33.3%EquityILA 2.09BtotalStockholderEquityDebtILA 12.66BshortLongTermDebtTotalCashILA 2.01BcashAndShortTermInvestmentsInvested capitalILA 12.75BResult 3.4% | 0.11xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeILA 653.00MoperatingIncomeNet PP&EILA 5.81BpropertyPlantAndEquipmentNetResult 0.11x |
- 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: ILA 5.81B
Inventory: ILA 3.64B
Total assets: ILA 27.10B
Goodwill: ILA 3.64B
Intangibles: ILA 773.00M
Liabilities: ILA 21.98B
Tangible book: ILA 706.00M
Shares: 27,027,027
Revenue: ILA 22.59B
Capex: ILA 962.00M
D&A: ILA 962.00M
EBITDA: ILA 1.75B
Interest: ILA 562.00M
Short-term debt: ILA 4.54B
Free cash flow: -ILA 19.00M
Operating income: ILA 653.00M
Invested capital: ILA 12.75B
Tax rate: 33.3%