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.
Flushing Financial Corporation
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.98x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by 0.10x, which is below 1.
Fixed-asset turnover is 6.40x. Compare it with other names in the same basket.
Physical asset ratio
0.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$70.85MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$8.69BtotalAssetsInventory was not reported and is treated as zero.Result 0.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
6.40xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$453.22MtotalRevenueNet PP&E$70.85MpropertyPlantAndEquipmentNetResult 6.40x
Revenue per dollar of the physical asset base.
Capex / D&A
0.98xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$5.22McapitalExpendituresD&A$5.34MdepreciationAndAmortizationResult 0.98x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$20.50Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$8.69BtotalAssetsGoodwill$0.00goodWillIntangibles$773.00KintangibleAssetsLiabilities$7.99BtotalLiabTangible book$707.20MShares34,493,000commonStockSharesOutstandingResult $20.50
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / share$20.502025-12-31A live quote was not available, so price / tangible book could not be calculated.Result —
Quote unavailable.
Fixed-charge coverage
0.10xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$39.86MebitdaCapex$5.22McapitalExpendituresInterest$250.70MinterestExpenseShort-term debt$107.68MshortLongTermDebtTotal − longTermDebtEBITDA − capex$34.64MShort-term debt is total debt minus long-term debt.Result 0.10x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
10.6%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$55.80MfreeCashFlowMarket cap$524.18MMarketCapitalizationResult 10.6%
Latest free cash flow divided by current market cap ($524.18M).
ROIC
1.8%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$34.52MoperatingIncomeTax expense$15.64MincomeTaxExpensePretax income$34.52MincomeBeforeTaxTax rate40.0%Equity$707.98MtotalStockholderEquityDebt$592.34MshortLongTermDebtTotalCash$126.08McashInvested capital$1.17BThe effective tax rate was above 40% and was capped at 40%.Result 1.8%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.49x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.4%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$30.42MpropertyPlantEquipmentInventory$35.00KinventoryTotal assets$6.83BtotalAssetsResult 0.4% | 8.79xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$267.36MtotalRevenueNet PP&E$30.42MpropertyPlantEquipmentResult 8.79x | 0.93xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$5.41McapitalExpendituresD&A$5.79MdepreciationAndAmortizationResult 0.93x | $18.01Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.83BtotalAssetsGoodwill$16.13MgoodWillIntangibles$16.13MintangibleAssetsLiabilities$6.28BtotalLiabTangible book$517.21MShares28,710,000commonStockSharesOutstandingResult $18.01 | 0.08xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$71.28MebitdaCapex$5.41McapitalExpendituresInterest$89.59MinterestExpenseShort-term debt$782.90MshortTermDebtEBITDA − capex$65.87MPrincipal due is short-term debt.Result 0.08x | $71.89MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$77.30MtotalCashFromOperatingActivitiesCapex$5.41McapitalExpendituresFree cash flow$71.89MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $71.89M | 6.4%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$65.49MoperatingIncomeTax expense$10.40MincomeTaxExpensePretax income$65.49MincomeBeforeTaxTax rate15.9%Equity$549.46MtotalStockholderEquityDebt$1.25BshortLongTermDebtTotalCash$941.22McashAndShortTermInvestmentsInvested capital$859.09MResult 6.4% | 2.15xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$65.49MoperatingIncomeNet PP&E$30.42MpropertyPlantEquipmentResult 2.15x |
| 2019 | -0.1%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$69.93MpropertyPlantAndEquipmentNetInventory-$75.75MinventoryTotal assets$7.02BtotalAssetsResult -0.1% | 4.12xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$288.43MtotalRevenueNet PP&E$69.93MpropertyPlantAndEquipmentNetResult 4.12x | 0.71xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$4.21McapitalExpendituresD&A$5.93MdepreciationAndAmortizationResult 0.71x | $19.63Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.02BtotalAssetsGoodwill$16.13MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$6.44BtotalLiabTangible book$563.55MShares28,709,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $19.63 | 0.33xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$59.26MebitdaCapex$4.21McapitalExpendituresInterest$117.02MinterestExpenseShort-term debt$49.37MshortTermDebtEBITDA − capex$55.05MPrincipal due is short-term debt.Result 0.33x | $59.56MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$63.77MtotalCashFromOperatingActivitiesCapex$4.21McapitalExpendituresFree cash flow$59.56MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $59.56M | 4.0%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$53.33MoperatingIncomeTax expense$12.05MincomeTaxExpensePretax income$53.33MincomeBeforeTaxTax rate22.6%Equity$579.67MtotalStockholderEquityDebt$1.29BshortLongTermDebtTotalCash$822.29McashAndShortTermInvestmentsInvested capital$1.04BResult 4.0% | 0.76xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$53.33MoperatingIncomeNet PP&E$69.93MpropertyPlantAndEquipmentNetResult 0.76x |
| 2020 | -1.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$78.92MpropertyPlantEquipmentInventory-$201.43MinventoryTotal assets$7.98BtotalAssetsResult -1.5% | 3.49xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$275.33MtotalRevenueNet PP&E$78.92MpropertyPlantEquipmentResult 3.49x | 0.40xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$2.51McapitalExpendituresD&A$6.32MdepreciationAndAmortizationResult 0.40x | $20.42Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.98BtotalAssetsGoodwill$17.64MgoodWillIntangibles$3.17MintangibleAssetsLiabilities$7.36BtotalLiabTangible book$598.19MShares29,301,000commonStockSharesOutstandingResult $20.42 | 0.38xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$51.39MebitdaCapex$2.51McapitalExpendituresInterest$69.13MinterestExpenseShort-term debt$59.10MshortTermDebtEBITDA − capex$48.88MPrincipal due is short-term debt.Result 0.38x | $68.77MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$71.28MtotalCashFromOperatingActivitiesCapex$2.51McapitalExpendituresFree cash flow$68.77MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $68.77M | 3.9%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$45.18MoperatingIncomeTax expense$10.51MincomeTaxExpensePretax income$45.18MincomeBeforeTaxTax rate23.3%Equity$619.00MtotalStockholderEquityDebt$1.08BshortLongTermDebtTotalCash$805.36McashAndShortTermInvestmentsInvested capital$893.63MResult 3.9% | 0.57xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$45.18MoperatingIncomeNet PP&E$78.92MpropertyPlantEquipmentResult 0.57x |
| 2021 | -0.6%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$73.54MpropertyPlantEquipmentInventory-$120.42MinventoryTotal assets$8.05BtotalAssetsResult -0.6% | 3.97xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$292.25MtotalRevenueNet PP&E$73.54MpropertyPlantEquipmentResult 3.97x | 0.52xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$3.68McapitalExpendituresD&A$7.04MdepreciationAndAmortizationResult 0.52x | $20.90Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$8.05BtotalAssetsGoodwill$17.64MgoodWillIntangibles$2.56MintangibleAssetsLiabilities$7.37BtotalLiabTangible book$659.43MShares31,550,000commonStockSharesOutstandingResult $20.90 | 1.19xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$116.31MebitdaCapex$3.68McapitalExpendituresInterest$40.59MinterestExpenseShort-term debt$54.16MshortTermDebtEBITDA − capex$112.63MPrincipal due is short-term debt.Result 1.19x | $84.92MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$88.60MtotalCashFromOperatingActivitiesCapex$3.68McapitalExpendituresFree cash flow$84.92MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $84.92M | 11.8%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$109.28MoperatingIncomeTax expense$27.49MincomeTaxExpensePretax income$109.28MincomeBeforeTaxTax rate25.2%Equity$679.63MtotalStockholderEquityDebt$869.70MshortLongTermDebtTotalCash$858.96McashAndShortTermInvestmentsInvested capital$690.37MResult 11.8% | 1.49xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$109.28MoperatingIncomeNet PP&E$73.54MpropertyPlantEquipmentResult 1.49x |
| 2022 | -1.6%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$65.04MpropertyPlantAndEquipmentNetInventory-$196.80MinventoryTotal assets$8.42BtotalAssetsResult -1.6% | 5.02xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$326.64MtotalRevenueNet PP&E$65.04MpropertyPlantAndEquipmentNetResult 5.02x | 0.67xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$4.34McapitalExpendituresD&A$6.48MdepreciationAndAmortizationResult 0.67x | $21.33Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$8.42BtotalAssetsGoodwill$17.64MgoodWillIntangibles$2.02MintangibleAssetsLiabilities$7.75BtotalLiabTangible book$657.50MShares30,823,000commonStockSharesOutstandingResult $21.33 | 0.89xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$110.78MebitdaCapex$4.34McapitalExpendituresInterest$73.01MinterestExpenseShort-term debt$46.13MshortTermDebtEBITDA − capex$106.44MPrincipal due is short-term debt.Result 0.89x | $81.41MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$85.76MtotalCashFromOperatingActivitiesCapex$4.34McapitalExpendituresFree cash flow$81.41MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $81.41M | 6.8%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$104.85MoperatingIncomeTax expense$27.91MincomeTaxExpensePretax income$104.85MincomeBeforeTaxTax rate26.6%Equity$677.16MtotalStockholderEquityDebt$1.10BshortLongTermDebtTotalCash$648.53McashAndShortTermInvestmentsInvested capital$1.13BResult 6.8% | 1.61xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$104.85MoperatingIncomeNet PP&E$65.04MpropertyPlantAndEquipmentNetResult 1.61x |
| 2023 | 2.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$60.83MpropertyPlantAndEquipmentNetInventory$113.14MinventoryTotal assets$8.54BtotalAssetsResult 2.0% | 6.97xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$424.07MtotalRevenueNet PP&E$60.83MpropertyPlantAndEquipmentNetResult 6.97x | 0.85xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$5.49McapitalExpendituresD&A$6.45MdepreciationAndAmortizationResult 0.85x | $21.74Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$8.54BtotalAssetsGoodwill$17.64MgoodWillIntangibles$1.54MintangibleAssetsLiabilities$7.87BtotalLiabTangible book$650.66MShares29,925,000commonStockSharesOutstandingResult $21.74 | 0.11xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$46.28MebitdaCapex$5.49McapitalExpendituresInterest$222.33MinterestExpenseShort-term debt$154.82MshortTermDebtEBITDA − capex$40.79MPrincipal due is short-term debt.Result 0.11x | $29.10MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$34.59MtotalCashFromOperatingActivitiesCapex$5.49McapitalExpendituresFree cash flow$29.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $29.10M | 3.8%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$39.83MoperatingIncomeTax expense$11.17MincomeTaxExpensePretax income$39.83MincomeBeforeTaxTax rate28.0%Equity$669.84MtotalStockholderEquityDebt$882.10MshortLongTermDebtTotalCash$803.52McashAndShortTermInvestmentsInvested capital$748.42MResult 3.8% | 0.65xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$39.83MoperatingIncomeNet PP&E$60.83MpropertyPlantAndEquipmentNetResult 0.65x |
| 2024 | 0.7%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$63.65MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$9.04BtotalAssetsInventory was not reported and is treated as zero.Result 0.7% | 6.41xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$408.09MtotalRevenueNet PP&E$63.65MpropertyPlantAndEquipmentNetResult 6.41x | 0.38xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$2.31McapitalExpendituresD&A$6.14MdepreciationAndAmortizationResult 0.38x | $23.57Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$9.04BtotalAssetsGoodwill$17.64MgoodWillIntangibles$1.12MintangibleAssetsLiabilities$8.31BtotalLiabTangible book$705.78MShares29,949,000commonStockSharesOutstandingResult $23.57 | -0.06xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$42.12MebitdaCapex$2.31McapitalExpendituresInterest$283.35MinterestExpenseShort-term debt$453.90MshortTermDebtEBITDA − capex-$44.43MPrincipal due is short-term debt.Result -0.06x | $10.10MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$12.41MtotalCashFromOperatingActivitiesCapex$2.31McapitalExpendituresFree cash flow$10.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $10.10M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$48.27MoperatingIncomeTax expense-$16.93MincomeTaxExpensePretax income-$48.27MincomeBeforeTaxTax rate—Equity$724.54MtotalStockholderEquityDebt$962.50MshortLongTermDebtTotalCash$1.56BcashAndShortTermInvestmentsInvested capital$129.64MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.76xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$48.27MoperatingIncomeNet PP&E$63.65MpropertyPlantAndEquipmentNetResult -0.76x |
| 2025 | 0.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$70.85MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$8.69BtotalAssetsInventory was not reported and is treated as zero.Result 0.8% | 6.40xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$453.22MtotalRevenueNet PP&E$70.85MpropertyPlantAndEquipmentNetResult 6.40x | 0.98xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$5.22McapitalExpendituresD&A$5.34MdepreciationAndAmortizationResult 0.98x | $20.50Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$8.69BtotalAssetsGoodwill$0.00goodWillIntangibles$773.00KintangibleAssetsLiabilities$7.99BtotalLiabTangible book$707.20MShares34,493,000commonStockSharesOutstandingResult $20.50 | 0.10xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$39.86MebitdaCapex$5.22McapitalExpendituresInterest$250.70MinterestExpenseShort-term debt$107.68MshortLongTermDebtTotal − longTermDebtEBITDA − capex$34.64MShort-term debt is total debt minus long-term debt.Result 0.10x | $55.80MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$61.02MtotalCashFromOperatingActivitiesCapex$5.22McapitalExpendituresFree cash flow$55.80MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $55.80M | 1.8%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$34.52MoperatingIncomeTax expense$15.64MincomeTaxExpensePretax income$34.52MincomeBeforeTaxTax rate40.0%Equity$707.98MtotalStockholderEquityDebt$592.34MshortLongTermDebtTotalCash$126.08McashInvested capital$1.17BThe effective tax rate was above 40% and was capped at 40%.Result 1.8% | 0.49xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$34.52MoperatingIncomeNet PP&E$70.85MpropertyPlantAndEquipmentNetResult 0.49x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is total debt minus long-term debt.
- The effective tax rate was above 40% and was capped at 40% for ROIC.
Latest year inputs (2025)
Net PP&E: $70.85M
Inventory: $0.00
Total assets: $8.69B
Goodwill: $0.00
Intangibles: $773.00K
Liabilities: $7.99B
Tangible book: $707.20M
Shares: 34,493,000
Revenue: $453.22M
Capex: $5.22M
D&A: $5.34M
EBITDA: $39.86M
Interest: $250.70M
Short-term debt: $107.68M
Free cash flow: $55.80M
Operating income: $34.52M
Invested capital: $1.17B
Tax rate: 40.0%