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.
Edgewell Personal Care Co
Physical assets are 24.7% of total assets, a light footprint. Capex is 0.87x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 3.4%, below an 8% cost-of-capital hurdle.
Fixed-asset turnover is 5.02x. Compare it with other names in the same basket.
Physical asset ratio
24.7%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$442.50MpropertyPlantEquipmentInventory$484.70MinventoryTotal assets$3.76BtotalAssetsResult 24.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.02xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$2.22BtotalRevenueNet PP&E$442.50MpropertyPlantEquipmentResult 5.02x
Revenue per dollar of the physical asset base.
Capex / D&A
0.87xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$77.00McapitalExpendituresD&A$88.80MdepreciationAndAmortizationResult 0.87x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$13.85Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.76BtotalAssetsGoodwill$1.29BgoodWillIntangibles$921.30MintangibleAssetsLiabilities$2.20BtotalLiabTangible book-$659.30MShares47,600,000commonStockSharesOutstandingResult -$13.85
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$28.57Latest quoteTangible book / share-$13.852025-09-30Tangible book per share is not positive, so the multiple is left blank.Result —
Price $28.57.
Fixed-charge coverage
1.06xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$185.60MebitdaCapex$77.00McapitalExpendituresInterest$73.20MinterestExpenseShort-term debt$29.50MshortLongTermDebtEBITDA − capex$108.60MPrincipal due is the current portion of debt.Result 1.06x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.1%Free cash flow yield · 2025-09-30Latest free cash flow / current market capFree cash flow$41.40MfreeCashFlowMarket cap$1.32BMarketCapitalizationResult 3.1%
Latest free cash flow divided by current market cap ($1.32B).
ROIC
3.4%ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$96.60MoperatingIncomeTax expense-$1.80MincomeTaxExpensePretax income$23.60MincomeBeforeTaxTax rate0.0%Equity$1.55BtotalStockholderEquityDebt$1.54BshortLongTermDebtTotalCash$225.70McashAndEquivalentsInvested capital$2.87BResult 3.4%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.22x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 19.1%Physical asset ratio · 2018-09-30(Net PP&E + inventory) / total assetsNet PP&E$424.10MpropertyPlantEquipmentInventory$329.50MinventoryTotal assets$3.95BtotalAssetsResult 19.1% | 5.27xFixed asset turnover · 2018-09-30Revenue / net PP&ERevenue$2.23BtotalRevenueNet PP&E$424.10MpropertyPlantEquipmentResult 5.27x | 0.64xCapex / D&A · 2018-09-30Capital expenditures / depreciation and amortizationCapex$62.00McapitalExpendituresD&A$97.60MdepreciationAndAmortizationResult 0.64x | -$14.77Tangible book / share · 2018-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.95BtotalAssetsGoodwill$1.45BgoodWillIntangibles$1.10BintangibleAssetsLiabilities$2.21BtotalLiabTangible book-$805.20MShares54,500,000commonStockSharesOutstandingResult -$14.77 | 1.02xFixed-charge coverage · 2018-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$329.40MebitdaCapex$62.00McapitalExpendituresInterest$68.00MinterestExpenseShort-term debt$193.10MshortTermDebtEBITDA − capex$267.40MPrincipal due is short-term debt.Result 1.02x | $202.70MFree cash flow · 2018-09-30Reported free cash flowOperating cash flow$264.70MtotalCashFromOperatingActivitiesCapex$62.00McapitalExpendituresFree cash flow$202.70MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $202.70M | 6.4%ROIC · 2018-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$283.40MoperatingIncomeTax expense$60.50MincomeTaxExpensePretax income$163.80MincomeBeforeTaxTax rate36.9%Equity$1.74BtotalStockholderEquityDebt$1.30BshortLongTermDebtTotalCash$266.40McashAndEquivalentsInvested capital$2.78BResult 6.4% | 0.67xEBIT / PP&E · 2018-09-30Operating income / net PP&EOperating income$283.40MoperatingIncomeNet PP&E$424.10MpropertyPlantEquipmentResult 0.67x |
| 2019 | 21.9%Physical asset ratio · 2019-09-30(Net PP&E + inventory) / total assetsNet PP&E$396.00MpropertyPlantEquipmentInventory$357.20MinventoryTotal assets$3.44BtotalAssetsResult 21.9% | 5.41xFixed asset turnover · 2019-09-30Revenue / net PP&ERevenue$2.14BtotalRevenueNet PP&E$396.00MpropertyPlantEquipmentResult 5.41x | 0.62xCapex / D&A · 2019-09-30Capital expenditures / depreciation and amortizationCapex$58.00McapitalExpendituresD&A$93.80MdepreciationAndAmortizationResult 0.62x | -$11.90Tangible book / share · 2019-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.44BtotalAssetsGoodwill$1.05BgoodWillIntangibles$912.90MintangibleAssetsLiabilities$2.12BtotalLiabTangible book-$643.90MShares54,100,000commonStockSharesOutstandingResult -$11.90 | -1.50xFixed-charge coverage · 2019-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA-$233.90MebitdaCapex$58.00McapitalExpendituresInterest$62.60MinterestExpenseShort-term debt$131.40MshortTermDebtEBITDA − capex-$291.90MPrincipal due is short-term debt.Result -1.50x | $132.60MFree cash flow · 2019-09-30Reported free cash flowOperating cash flow$190.60MtotalCashFromOperatingActivitiesCapex$58.00McapitalExpendituresFree cash flow$132.60MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $132.60M | —ROIC · 2019-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$243.80MoperatingIncomeTax expense-$18.10MincomeTaxExpensePretax income-$390.30MincomeBeforeTaxTax rate—Equity$1.32BtotalStockholderEquityDebt$1.23BshortLongTermDebtTotalCash$341.60McashAndEquivalentsInvested capital$2.21BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.62xEBIT / PP&E · 2019-09-30Operating income / net PP&EOperating income$243.80MoperatingIncomeNet PP&E$396.00MpropertyPlantEquipmentResult 0.62x |
| 2020 | 20.6%Physical asset ratio · 2020-09-30(Net PP&E + inventory) / total assetsNet PP&E$414.40MpropertyPlantAndEquipmentNetInventory$314.10MinventoryTotal assets$3.54BtotalAssetsResult 20.6% | 4.70xFixed asset turnover · 2020-09-30Revenue / net PP&ERevenue$1.95BtotalRevenueNet PP&E$414.40MpropertyPlantAndEquipmentNetResult 4.70x | 0.54xCapex / D&A · 2020-09-30Capital expenditures / depreciation and amortizationCapex$47.70McapitalExpendituresD&A$88.80MdepreciationAndAmortizationResult 0.54x | -$11.99Tangible book / share · 2020-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.54BtotalAssetsGoodwill$1.16BgoodWillIntangibles$928.10MintangibleAssetsLiabilities$2.11BtotalLiabTangible book-$654.90MShares54,600,000commonStockSharesOutstandingResult -$11.99 | 2.30xFixed-charge coverage · 2020-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$237.30MebitdaCapex$47.70McapitalExpendituresInterest$61.20MinterestExpenseShort-term debt$21.10MshortLongTermDebtEBITDA − capex$189.60MPrincipal due is the current portion of debt.Result 2.30x | $184.90MFree cash flow · 2020-09-30Reported free cash flowOperating cash flow$232.60MtotalCashFromOperatingActivitiesCapex$47.70McapitalExpendituresFree cash flow$184.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $184.90M | 5.7%ROIC · 2020-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$176.00MoperatingIncomeTax expense$19.70MincomeTaxExpensePretax income$87.30MincomeBeforeTaxTax rate22.6%Equity$1.43BtotalStockholderEquityDebt$1.30BshortLongTermDebtTotalCash$364.70McashAndEquivalentsInvested capital$2.37BResult 5.7% | 0.42xEBIT / PP&E · 2020-09-30Operating income / net PP&EOperating income$176.00MoperatingIncomeNet PP&E$414.40MpropertyPlantAndEquipmentNetResult 0.42x |
| 2021 | 19.3%Physical asset ratio · 2021-09-30(Net PP&E + inventory) / total assetsNet PP&E$362.60MpropertyPlantEquipmentInventory$345.70MinventoryTotal assets$3.67BtotalAssetsResult 19.3% | 5.76xFixed asset turnover · 2021-09-30Revenue / net PP&ERevenue$2.09BtotalRevenueNet PP&E$362.60MpropertyPlantEquipmentResult 5.76x | 0.65xCapex / D&A · 2021-09-30Capital expenditures / depreciation and amortizationCapex$56.80McapitalExpendituresD&A$87.10MdepreciationAndAmortizationResult 0.65x | -$8.78Tangible book / share · 2021-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.67BtotalAssetsGoodwill$1.16BgoodWillIntangibles$906.40MintangibleAssetsLiabilities$2.09BtotalLiabTangible book-$484.90MShares55,200,000commonStockSharesOutstandingResult -$8.78 | 2.60xFixed-charge coverage · 2021-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$302.10MebitdaCapex$56.80McapitalExpendituresInterest$67.90MinterestExpenseShort-term debt$26.50MshortLongTermDebtEBITDA − capex$245.30MPrincipal due is the current portion of debt.Result 2.60x | $172.20MFree cash flow · 2021-09-30Reported free cash flowOperating cash flow$229.00MtotalCashFromOperatingActivitiesCapex$56.80McapitalExpendituresFree cash flow$172.20MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $172.20M | 7.9%ROIC · 2021-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$239.90MoperatingIncomeTax expense$29.30MincomeTaxExpensePretax income$147.10MincomeBeforeTaxTax rate19.9%Equity$1.58BtotalStockholderEquityDebt$1.32BshortLongTermDebtTotalCash$479.20McashAndEquivalentsInvested capital$2.42BResult 7.9% | 0.66xEBIT / PP&E · 2021-09-30Operating income / net PP&EOperating income$239.90MoperatingIncomeNet PP&E$362.60MpropertyPlantEquipmentResult 0.66x |
| 2022 | 21.4%Physical asset ratio · 2022-09-30(Net PP&E + inventory) / total assetsNet PP&E$345.50MpropertyPlantEquipmentInventory$449.30MinventoryTotal assets$3.71BtotalAssetsResult 21.4% | 6.29xFixed asset turnover · 2022-09-30Revenue / net PP&ERevenue$2.17BtotalRevenueNet PP&E$345.50MpropertyPlantEquipmentResult 6.29x | 0.63xCapex / D&A · 2022-09-30Capital expenditures / depreciation and amortizationCapex$56.40McapitalExpendituresD&A$89.90MdepreciationAndAmortizationResult 0.63x | -$15.89Tangible book / share · 2022-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.71BtotalAssetsGoodwill$1.32BgoodWillIntangibles$996.70MintangibleAssetsLiabilities$2.25BtotalLiabTangible book-$851.80MShares53,600,000commonStockSharesOutstandingResult -$15.89 | 2.53xFixed-charge coverage · 2022-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$285.40MebitdaCapex$56.40McapitalExpendituresInterest$71.40MinterestExpenseShort-term debt$19.00MshortLongTermDebtEBITDA − capex$229.00MPrincipal due is the current portion of debt.Result 2.53x | $45.60MFree cash flow · 2022-09-30Reported free cash flowOperating cash flow$102.00MtotalCashFromOperatingActivitiesCapex$56.40McapitalExpendituresFree cash flow$45.60MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $45.60M | 5.3%ROIC · 2022-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$182.30MoperatingIncomeTax expense$24.60MincomeTaxExpensePretax income$124.10MincomeBeforeTaxTax rate19.8%Equity$1.47BtotalStockholderEquityDebt$1.46BshortLongTermDebtTotalCash$188.70McashAndEquivalentsInvested capital$2.74BResult 5.3% | 0.53xEBIT / PP&E · 2022-09-30Operating income / net PP&EOperating income$182.30MoperatingIncomeNet PP&E$345.50MpropertyPlantEquipmentResult 0.53x |
| 2023 | 22.2%Physical asset ratio · 2023-09-30(Net PP&E + inventory) / total assetsNet PP&E$337.90MpropertyPlantEquipmentInventory$492.40MinventoryTotal assets$3.74BtotalAssetsResult 22.2% | 6.66xFixed asset turnover · 2023-09-30Revenue / net PP&ERevenue$2.25BtotalRevenueNet PP&E$337.90MpropertyPlantEquipmentResult 6.66x | 0.54xCapex / D&A · 2023-09-30Capital expenditures / depreciation and amortizationCapex$49.50McapitalExpendituresD&A$91.40MdepreciationAndAmortizationResult 0.54x | -$14.76Tangible book / share · 2023-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.74BtotalAssetsGoodwill$1.33BgoodWillIntangibles$973.80MintangibleAssetsLiabilities$2.20BtotalLiabTangible book-$764.70MShares51,800,000commonStockSharesOutstandingResult -$14.76 | 2.74xFixed-charge coverage · 2023-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$317.60MebitdaCapex$49.50McapitalExpendituresInterest$78.50MinterestExpenseShort-term debt$19.50MshortLongTermDebtEBITDA − capex$268.10MPrincipal due is the current portion of debt.Result 2.74x | $166.60MFree cash flow · 2023-09-30Reported free cash flowOperating cash flow$216.10MtotalCashFromOperatingActivitiesCapex$49.50McapitalExpendituresFree cash flow$166.60MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $166.60M | 6.4%ROIC · 2023-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$227.00MoperatingIncomeTax expense$33.00MincomeTaxExpensePretax income$147.70MincomeBeforeTaxTax rate22.3%Equity$1.54BtotalStockholderEquityDebt$1.45BshortLongTermDebtTotalCash$216.40McashAndEquivalentsInvested capital$2.77BResult 6.4% | 0.67xEBIT / PP&E · 2023-09-30Operating income / net PP&EOperating income$227.00MoperatingIncomeNet PP&E$337.90MpropertyPlantEquipmentResult 0.67x |
| 2024 | 24.4%Physical asset ratio · 2024-09-30(Net PP&E + inventory) / total assetsNet PP&E$434.50MpropertyPlantEquipmentInventory$477.30MinventoryTotal assets$3.73BtotalAssetsResult 24.4% | 5.19xFixed asset turnover · 2024-09-30Revenue / net PP&ERevenue$2.25BtotalRevenueNet PP&E$434.50MpropertyPlantEquipmentResult 5.19x | 0.64xCapex / D&A · 2024-09-30Capital expenditures / depreciation and amortizationCapex$56.50McapitalExpendituresD&A$88.00MdepreciationAndAmortizationResult 0.64x | -$14.03Tangible book / share · 2024-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.73BtotalAssetsGoodwill$1.34BgoodWillIntangibles$948.50MintangibleAssetsLiabilities$2.15BtotalLiabTangible book-$703.00MShares50,100,000commonStockSharesOutstandingResult -$14.03 | 2.27xFixed-charge coverage · 2024-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$285.40MebitdaCapex$56.50McapitalExpendituresInterest$76.50MinterestExpenseShort-term debt$24.50MshortLongTermDebtEBITDA − capex$228.90MPrincipal due is the current portion of debt.Result 2.27x | $174.50MFree cash flow · 2024-09-30Reported free cash flowOperating cash flow$231.00MtotalCashFromOperatingActivitiesCapex$56.50McapitalExpendituresFree cash flow$174.50MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $174.50M | 5.9%ROIC · 2024-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$199.30MoperatingIncomeTax expense$22.30MincomeTaxExpensePretax income$120.90MincomeBeforeTaxTax rate18.4%Equity$1.58BtotalStockholderEquityDebt$1.39BshortLongTermDebtTotalCash$209.10McashAndEquivalentsInvested capital$2.76BResult 5.9% | 0.46xEBIT / PP&E · 2024-09-30Operating income / net PP&EOperating income$199.30MoperatingIncomeNet PP&E$434.50MpropertyPlantEquipmentResult 0.46x |
| 2025 | 24.7%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$442.50MpropertyPlantEquipmentInventory$484.70MinventoryTotal assets$3.76BtotalAssetsResult 24.7% | 5.02xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$2.22BtotalRevenueNet PP&E$442.50MpropertyPlantEquipmentResult 5.02x | 0.87xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$77.00McapitalExpendituresD&A$88.80MdepreciationAndAmortizationResult 0.87x | -$13.85Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.76BtotalAssetsGoodwill$1.29BgoodWillIntangibles$921.30MintangibleAssetsLiabilities$2.20BtotalLiabTangible book-$659.30MShares47,600,000commonStockSharesOutstandingResult -$13.85 | 1.06xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$185.60MebitdaCapex$77.00McapitalExpendituresInterest$73.20MinterestExpenseShort-term debt$29.50MshortLongTermDebtEBITDA − capex$108.60MPrincipal due is the current portion of debt.Result 1.06x | $41.40MFree cash flow · 2025-09-30Reported free cash flowOperating cash flow$118.40MtotalCashFromOperatingActivitiesCapex$77.00McapitalExpendituresFree cash flow$41.40MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $41.40M | 3.4%ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$96.60MoperatingIncomeTax expense-$1.80MincomeTaxExpensePretax income$23.60MincomeBeforeTaxTax rate0.0%Equity$1.55BtotalStockholderEquityDebt$1.54BshortLongTermDebtTotalCash$225.70McashAndEquivalentsInvested capital$2.87BResult 3.4% | 0.22xEBIT / PP&E · 2025-09-30Operating income / net PP&EOperating income$96.60MoperatingIncomeNet PP&E$442.50MpropertyPlantEquipmentResult 0.22x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $442.50M
Inventory: $484.70M
Total assets: $3.76B
Goodwill: $1.29B
Intangibles: $921.30M
Liabilities: $2.20B
Tangible book: -$659.30M
Shares: 47,600,000
Revenue: $2.22B
Capex: $77.00M
D&A: $88.80M
EBITDA: $185.60M
Interest: $73.20M
Short-term debt: $29.50M
Free cash flow: $41.40M
Operating income: $96.60M
Invested capital: $2.87B
Tax rate: 0.0%