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.
Enerya Enerji Anonim Sirketi
Physical assets are 79.0% of total assets, a heavy footprint. Capex is 1.71x 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 0.69x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.39x.
Physical asset ratio
79.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 83.40BpropertyPlantAndEquipmentNetInventoryTRY 244.24MinventoryTotal assetsTRY 105.94BtotalAssetsResult 79.0%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.39xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 32.79BtotalRevenueNet PP&ETRY 83.40BpropertyPlantAndEquipmentNetResult 0.39x
Revenue per dollar of the physical asset base.
Capex / D&A
1.71xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 4.70BcapitalExpendituresD&ATRY 2.75BreconciledDepreciationResult 1.71x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
TRY 7.04Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 105.94BtotalAssetsGoodwillTRY 0.00Not reported, treated as 0IntangiblesTRY 1.45BintangibleAssetsLiabilitiesTRY 41.17BtotalLiabTangible bookTRY 63.32BShares9,000,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result TRY 7.04
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.90xPrice / tangible bookPrice / tangible book per sharePriceTRY 13.36Latest quoteTangible book / shareTRY 7.042025-12-31Result 1.90x
Price TRY 13.36.
Fixed-charge coverage
0.69xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 7.37BebitdaCapexTRY 4.70BcapitalExpendituresInterestTRY 298.23MinterestExpenseShort-term debtTRY 3.57BshortLongTermDebtEBITDA − capexTRY 2.67BPrincipal due is the current portion of debt.Result 0.69x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.0%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowTRY 2.38BfreeCashFlowMarket capTRY 120.24BMarketCapitalizationResult 2.0%
Latest free cash flow divided by current market cap (TRY 120.24B).
ROIC
6.7%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 3.31BoperatingIncomeTax expense-TRY 1.21BtaxProvisionPretax incomeTRY 4.32BincomeBeforeTaxTax rate0.0%EquityTRY 52.14BtotalStockholderEquityDebtTRY 3.57BlongTermDebt + shortLongTermDebtCashTRY 6.07BcashInvested capitalTRY 49.64BResult 6.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.04x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2022 | 71.3%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 17.70BpropertyPlantAndEquipmentNetInventoryTRY 122.25MinventoryTotal assetsTRY 25.02BtotalAssetsResult 71.3% | —Fixed asset turnover · 2022-12-31Revenue / net PP&ERevenue—Not reportedNet PP&ETRY 17.70BpropertyPlantAndEquipmentNetResult — | —Capex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex—Not reportedD&A—Not reportedResult — | TRY 1.11Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 25.02BtotalAssetsGoodwillTRY 0.00Not reported, treated as 0IntangiblesTRY 286.04MintangibleAssetsLiabilitiesTRY 14.76BtotalLiabTangible bookTRY 9.97BShares8,999,999,997commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result TRY 1.11 | —Fixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapex—Not reportedInterest—Not reportedShort-term debtTRY 788.95MshortLongTermDebtPrincipal due is the current portion of debt.Result — | —Free cash flow · 2022-12-31Operating cash flow − capexOperating cash flow—Not reportedCapex—Not reportedFree cash flow—Not reportedResult — | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expense—Not reportedPretax income—Not reportedTax rate—EquityTRY 8.14BtotalStockholderEquityDebtTRY 848.91MlongTermDebt + shortLongTermDebtCashTRY 1.83BcashInvested capitalTRY 7.17BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income—Not reportedNet PP&ETRY 17.70BpropertyPlantAndEquipmentNetResult — |
| 2023 | 75.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 40.79BpropertyPlantAndEquipmentNetInventoryTRY 118.47MinventoryTotal assetsTRY 54.53BtotalAssetsResult 75.0% | 0.71xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueTRY 28.90BtotalRevenueNet PP&ETRY 40.79BpropertyPlantAndEquipmentNetResult 0.71x | 3.53xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexTRY 2.94BcapitalExpendituresD&ATRY 831.73MreconciledDepreciationResult 3.53x | TRY 3.16Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 54.53BtotalAssetsGoodwillTRY 0.00Not reported, treated as 0IntangiblesTRY 457.40MintangibleAssetsLiabilitiesTRY 25.63BtotalLiabTangible bookTRY 28.44BShares8,999,999,997commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result TRY 3.16 | 1.92xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 6.26BebitdaCapexTRY 2.94BcapitalExpendituresInterestTRY 140.44MinterestExpenseShort-term debtTRY 1.59BshortLongTermDebtEBITDA − capexTRY 3.32BPrincipal due is the current portion of debt.Result 1.92x | TRY 610.85MFree cash flow · 2023-12-31Reported free cash flowOperating cash flowTRY 3.55BtotalCashFromOperatingActivitiesCapexTRY 2.94BcapitalExpendituresFree cash flowTRY 610.85MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 610.85M | 6.3%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 1.54BoperatingIncomeTax expenseTRY 1.48BtaxProvisionPretax incomeTRY 5.29BincomeBeforeTaxTax rate27.9%EquityTRY 22.34BtotalStockholderEquityDebtTRY 1.64BlongTermDebt + shortLongTermDebtCashTRY 6.31BcashInvested capitalTRY 17.67BResult 6.3% | 0.04xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeTRY 1.54BoperatingIncomeNet PP&ETRY 40.79BpropertyPlantAndEquipmentNetResult 0.04x |
| 2024 | 73.9%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 58.35BpropertyPlantAndEquipmentNetInventoryTRY 320.18MinventoryTotal assetsTRY 79.40BtotalAssetsResult 73.9% | 0.53xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueTRY 30.76BtotalRevenueNet PP&ETRY 58.35BpropertyPlantAndEquipmentNetResult 0.53x | 1.76xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexTRY 3.90BcapitalExpendituresD&ATRY 2.22BreconciledDepreciationResult 1.76x | TRY 4.70Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 79.40BtotalAssetsGoodwillTRY 0.00Not reported, treated as 0IntangiblesTRY 1.46BintangibleAssetsLiabilitiesTRY 35.67BtotalLiabTangible bookTRY 42.27BShares8,999,999,997commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result TRY 4.70 | 0.94xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 7.16BebitdaCapexTRY 3.90BcapitalExpendituresInterestTRY 242.96MinterestExpenseShort-term debtTRY 3.20BshortLongTermDebtEBITDA − capexTRY 3.25BPrincipal due is the current portion of debt.Result 0.94x | TRY 3.90BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowTRY 7.80BtotalCashFromOperatingActivitiesCapexTRY 3.90BcapitalExpendituresFree cash flowTRY 3.90BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 3.90B | 5.1%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 1.88BoperatingIncomeTax expenseTRY 611.73MtaxProvisionPretax incomeTRY 4.70BincomeBeforeTaxTax rate13.0%EquityTRY 34.61BtotalStockholderEquityDebtTRY 3.21BlongTermDebt + shortLongTermDebtCashTRY 5.83BcashInvested capitalTRY 31.99BResult 5.1% | 0.03xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeTRY 1.88BoperatingIncomeNet PP&ETRY 58.35BpropertyPlantAndEquipmentNetResult 0.03x |
| 2025 | 79.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 83.40BpropertyPlantAndEquipmentNetInventoryTRY 244.24MinventoryTotal assetsTRY 105.94BtotalAssetsResult 79.0% | 0.39xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 32.79BtotalRevenueNet PP&ETRY 83.40BpropertyPlantAndEquipmentNetResult 0.39x | 1.71xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 4.70BcapitalExpendituresD&ATRY 2.75BreconciledDepreciationResult 1.71x | TRY 7.04Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 105.94BtotalAssetsGoodwillTRY 0.00Not reported, treated as 0IntangiblesTRY 1.45BintangibleAssetsLiabilitiesTRY 41.17BtotalLiabTangible bookTRY 63.32BShares9,000,000,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result TRY 7.04 | 0.69xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 7.37BebitdaCapexTRY 4.70BcapitalExpendituresInterestTRY 298.23MinterestExpenseShort-term debtTRY 3.57BshortLongTermDebtEBITDA − capexTRY 2.67BPrincipal due is the current portion of debt.Result 0.69x | TRY 2.38BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowTRY 7.08BtotalCashFromOperatingActivitiesCapexTRY 4.70BcapitalExpendituresFree cash flowTRY 2.38BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 2.38B | 6.7%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 3.31BoperatingIncomeTax expense-TRY 1.21BtaxProvisionPretax incomeTRY 4.32BincomeBeforeTaxTax rate0.0%EquityTRY 52.14BtotalStockholderEquityDebtTRY 3.57BlongTermDebt + shortLongTermDebtCashTRY 6.07BcashInvested capitalTRY 49.64BResult 6.7% | 0.04xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeTRY 3.31BoperatingIncomeNet PP&ETRY 83.40BpropertyPlantAndEquipmentNetResult 0.04x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: TRY 83.40B
Inventory: TRY 244.24M
Total assets: TRY 105.94B
Goodwill: TRY 0.00
Intangibles: TRY 1.45B
Liabilities: TRY 41.17B
Tangible book: TRY 63.32B
Shares: 9,000,000,000
Revenue: TRY 32.79B
Capex: TRY 4.70B
D&A: TRY 2.75B
EBITDA: TRY 7.37B
Interest: TRY 298.23M
Short-term debt: TRY 3.57B
Free cash flow: TRY 2.38B
Operating income: TRY 3.31B
Invested capital: TRY 49.64B
Tax rate: 0.0%