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.
Glenveagh Properties PLC
Physical assets are 74.0% of total assets, a heavy footprint. Capex is 3.44x 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. ROIC is 13.0%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 13.67x. Compare it with other names in the same basket.
Physical asset ratio
74.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E€67.74MpropertyPlantAndEquipmentNetInventory€837.72MinventoryTotal assets€1.22BtotalAssetsResult 74.0%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
13.67xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue€925.88MtotalRevenueNet PP&E€67.74MpropertyPlantAndEquipmentNetResult 13.67x
Revenue per dollar of the physical asset base.
Capex / D&A
3.44xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex€12.42McapitalExpendituresD&A€3.61MreconciledDepreciationResult 3.44x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€1.50Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€1.22BtotalAssetsGoodwill€5.70MgoodWillIntangibles€8.59MintangibleAssetsLiabilities€431.67MtotalLiabTangible book€778.28MShares520,472,536commonStockSharesOutstandingResult €1.50
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.64xPrice / tangible bookPrice / tangible book per sharePrice€2.46Latest quoteTangible book / share€1.502025-12-31Result 1.64x
Price €2.46.
Fixed-charge coverage
6.33xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€147.30MebitdaCapex€12.42McapitalExpendituresInterest€18.50MinterestExpenseShort-term debt€2.80MshortLongTermDebtEBITDA − capex€134.88MPrincipal due is the current portion of debt.Result 6.33x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
7.1%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow€87.92MfreeCashFlowMarket cap€1.24BMarketCapitalizationResult 7.1%
Latest free cash flow divided by current market cap (€1.24B).
ROIC
13.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€144.13MoperatingIncomeTax expense€17.58MtaxProvisionPretax income€125.19MincomeBeforeTaxTax rate14.0%Equity€792.57MtotalStockholderEquityDebt€239.03MlongTermDebt + shortLongTermDebtCash€75.20McashInvested capital€956.41MResult 13.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 2.13x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 83.2%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E€11.50MpropertyPlantEquipmentInventory€718.86MinventoryTotal assets€878.34MtotalAssetsResult 83.2% | 7.32xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue€84.18MtotalRevenueNet PP&E€11.50MpropertyPlantEquipmentResult 7.32x | 47.60xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex€11.19McapitalExpendituresD&A€235.00KdepreciationAndAmortizationResult 47.60x | €1.13Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€878.34MtotalAssetsGoodwill€0.00Not reported, treated as 0Intangibles€727.00KintangibleAssetsLiabilities€35.23MtotalLiabTangible book€842.39MShares745,664,898commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result €1.13 | -9.05xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-€1.91MebitdaCapex€11.19McapitalExpendituresInterest€1.41MinterestExpenseShort-term debt€33.00KshortTermDebtEBITDA − capex-€13.10MPrincipal due is short-term debt.Result -9.05x | -€412.16MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-€400.97MtotalCashFromOperatingActivitiesCapex€11.19McapitalExpendituresFree cash flow-€412.16MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -€412.16M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-€2.56MoperatingIncomeTax expense-€39.00KincomeTaxExpensePretax income-€3.97MincomeBeforeTaxTax rate—Equity€843.12MtotalStockholderEquityDebt€38.00KshortLongTermDebtTotalCash€130.70McashInvested capital€712.45MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.22xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-€2.56MoperatingIncomeNet PP&E€11.50MpropertyPlantEquipmentResult -0.22x |
| 2019 | 88.8%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E€18.14MpropertyPlantEquipmentInventory€840.49MinventoryTotal assets€966.67MtotalAssetsResult 88.8% | 15.69xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue€284.64MtotalRevenueNet PP&E€18.14MpropertyPlantEquipmentResult 15.69x | 5.92xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex€8.24McapitalExpendituresD&A€1.39MdepreciationAndAmortizationResult 5.92x | €0.99Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€966.67MtotalAssetsGoodwill€0.00Not reported, treated as 0Intangibles€944.00KintangibleAssetsLiabilities€100.12MtotalLiabTangible book€865.60MShares871,333,550commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result €0.99 | 0.56xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€31.87MebitdaCapex€8.24McapitalExpendituresInterest€2.67MinterestExpenseShort-term debt€39.57MshortLongTermDebtEBITDA − capex€23.64MPrincipal due is the current portion of debt.Result 0.56x | -€77.85MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-€69.61MtotalCashFromOperatingActivitiesCapex€8.24McapitalExpendituresFree cash flow-€77.85MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -€77.85M | 3.1%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€29.36MoperatingIncomeTax expense€3.85MincomeTaxExpensePretax income€26.69MincomeBeforeTaxTax rate14.4%Equity€866.55MtotalStockholderEquityDebt€40.16MshortLongTermDebtTotalCash€93.22McashInvested capital€813.49MResult 3.1% | 1.62xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income€29.36MoperatingIncomeNet PP&E€18.14MpropertyPlantEquipmentResult 1.62x |
| 2020 | 84.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E€21.09MpropertyPlantEquipmentInventory€821.17MinventoryTotal assets€996.99MtotalAssetsResult 84.5% | 11.02xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue€232.30MtotalRevenueNet PP&E€21.09MpropertyPlantEquipmentResult 11.02x | 2.05xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex€4.16McapitalExpendituresD&A€2.03MdepreciationAndAmortizationResult 2.05x | €0.98Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€996.99MtotalAssetsGoodwill€0.00Not reported, treated as 0Intangibles€712.00KintangibleAssetsLiabilities€143.49MtotalLiabTangible book€852.79MShares871,333,550commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result €0.98 | 0.05xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€9.61MebitdaCapex€4.16McapitalExpendituresInterest€3.03MinterestExpenseShort-term debt€99.93MshortLongTermDebtEBITDA − capex€5.45MPrincipal due is the current portion of debt.Result 0.05x | -€14.90MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-€10.75MtotalCashFromOperatingActivitiesCapex€4.16McapitalExpendituresFree cash flow-€14.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -€14.90M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€7.58MoperatingIncomeTax expense-€1.84MincomeTaxExpensePretax income-€15.75MincomeBeforeTaxTax rate—Equity€853.51MtotalStockholderEquityDebt€101.25MshortLongTermDebtTotalCash€137.28McashInvested capital€817.48MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.36xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income€7.58MoperatingIncomeNet PP&E€21.09MpropertyPlantEquipmentResult 0.36x |
| 2021 | 81.9%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E€27.23MpropertyPlantEquipmentInventory€767.19MinventoryTotal assets€970.06MtotalAssetsResult 81.9% | 17.51xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue€476.81MtotalRevenueNet PP&E€27.23MpropertyPlantEquipmentResult 17.51x | 6.95xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex€16.71McapitalExpendituresD&A€2.41MdepreciationAndAmortizationResult 6.95x | €0.93Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€970.06MtotalAssetsGoodwill€0.00goodWillIntangibles€1.21MintangibleAssetsLiabilities€185.97MtotalLiabTangible book€782.87MShares845,809,433commonStockSharesOutstandingResult €0.93 | 0.82xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€52.97MebitdaCapex€16.71McapitalExpendituresInterest€4.85MinterestExpenseShort-term debt€39.63MshortLongTermDebtEBITDA − capex€36.26MPrincipal due is the current portion of debt.Result 0.82x | €87.59MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow€104.30MtotalCashFromOperatingActivitiesCapex€16.71McapitalExpendituresFree cash flow€87.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €87.59M | 5.3%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€50.57MoperatingIncomeTax expense€8.02MincomeTaxExpensePretax income€45.72MincomeBeforeTaxTax rate17.5%Equity€784.08MtotalStockholderEquityDebt€120.79MshortLongTermDebtTotalCash€116.18McashInvested capital€788.70MResult 5.3% | 1.86xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income€50.57MoperatingIncomeNet PP&E€27.23MpropertyPlantEquipmentResult 1.86x |
| 2022 | 84.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E€51.75MpropertyPlantEquipmentInventory€685.75MinventoryTotal assets€875.80MtotalAssetsResult 84.2% | 12.46xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue€644.71MtotalRevenueNet PP&E€51.75MpropertyPlantEquipmentResult 12.46x | 9.77xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex€20.33McapitalExpendituresD&A€2.08MdepreciationAndAmortizationResult 9.77x | €0.99Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€875.80MtotalAssetsGoodwill€5.70MgoodWillIntangibles€1.77MintangibleAssetsLiabilities€182.68MtotalLiabTangible book€685.65MShares695,970,940commonStockSharesOutstandingResult €0.99 | 3.14xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€72.18MebitdaCapex€20.33McapitalExpendituresInterest€7.09MinterestExpenseShort-term debt€9.42MshortLongTermDebtEBITDA − capex€51.84MPrincipal due is the current portion of debt.Result 3.14x | €120.52MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow€140.86MtotalCashFromOperatingActivitiesCapex€20.33McapitalExpendituresFree cash flow€120.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €120.52M | 8.3%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€70.10MoperatingIncomeTax expense€10.43MincomeTaxExpensePretax income€63.00MincomeBeforeTaxTax rate16.6%Equity€693.12MtotalStockholderEquityDebt€85.38MshortLongTermDebtTotalCash€71.09McashInvested capital€707.42MResult 8.3% | 1.35xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income€70.10MoperatingIncomeNet PP&E€51.75MpropertyPlantEquipmentResult 1.35x |
| 2023 | 82.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E€64.18MpropertyPlantAndEquipmentNetInventory€707.60MinventoryTotal assets€935.34MtotalAssetsResult 82.5% | 9.47xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue€607.94MtotalRevenueNet PP&E€64.18MpropertyPlantAndEquipmentNetResult 9.47x | 7.52xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex€17.84McapitalExpendituresD&A€2.37MdepreciationAndAmortizationResult 7.52x | €1.13Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€935.34MtotalAssetsGoodwill€5.70MgoodWillIntangibles€2.78MintangibleAssetsLiabilities€257.19MtotalLiabTangible book€669.68MShares590,114,076commonStockSharesOutstandingResult €1.13 | 2.80xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€73.32MebitdaCapex€17.84McapitalExpendituresInterest€16.22MinterestExpenseShort-term debt€3.56MshortLongTermDebtEBITDA − capex€55.48MPrincipal due is the current portion of debt.Result 2.80x | €33.02MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow€50.86MtotalCashFromOperatingActivitiesCapex€17.84McapitalExpendituresFree cash flow€33.02MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €33.02M | 8.3%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€70.95MoperatingIncomeTax expense€8.00MincomeTaxExpensePretax income€55.11MincomeBeforeTaxTax rate14.5%Equity€678.16MtotalStockholderEquityDebt€121.09MshortLongTermDebtTotalCash€71.86McashInvested capital€727.39MResult 8.3% | 1.11xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income€70.95MoperatingIncomeNet PP&E€64.18MpropertyPlantAndEquipmentNetResult 1.11x |
| 2024 | 78.7%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E€62.40MpropertyPlantAndEquipmentNetInventory€864.35MinventoryTotal assets€1.18BtotalAssetsResult 78.7% | 13.93xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue€869.20MtotalRevenueNet PP&E€62.40MpropertyPlantAndEquipmentNetResult 13.93x | 2.46xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex€6.82McapitalExpendituresD&A€2.77MreconciledDepreciationResult 2.46x | €1.32Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€1.18BtotalAssetsGoodwill€5.70MgoodWillIntangibles€7.28MintangibleAssetsLiabilities€426.74MtotalLiabTangible book€738.20MShares560,878,504commonStockSharesOutstandingResult €1.32 | 5.82xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€135.61MebitdaCapex€6.82McapitalExpendituresInterest€19.02MinterestExpenseShort-term debt€3.13MshortLongTermDebtEBITDA − capex€128.79MPrincipal due is the current portion of debt.Result 5.82x | -€100.26MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-€93.44MtotalCashFromOperatingActivitiesCapex€6.82McapitalExpendituresFree cash flow-€100.26MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -€100.26M | 12.3%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€132.14MoperatingIncomeTax expense€16.06MtaxProvisionPretax income€113.82MincomeBeforeTaxTax rate14.1%Equity€751.17MtotalStockholderEquityDebt€238.17MlongTermDebt + shortLongTermDebtCash€63.17McashInvested capital€926.17MResult 12.3% | 2.12xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income€132.14MoperatingIncomeNet PP&E€62.40MpropertyPlantAndEquipmentNetResult 2.12x |
| 2025 | 74.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E€67.74MpropertyPlantAndEquipmentNetInventory€837.72MinventoryTotal assets€1.22BtotalAssetsResult 74.0% | 13.67xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue€925.88MtotalRevenueNet PP&E€67.74MpropertyPlantAndEquipmentNetResult 13.67x | 3.44xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex€12.42McapitalExpendituresD&A€3.61MreconciledDepreciationResult 3.44x | €1.50Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€1.22BtotalAssetsGoodwill€5.70MgoodWillIntangibles€8.59MintangibleAssetsLiabilities€431.67MtotalLiabTangible book€778.28MShares520,472,536commonStockSharesOutstandingResult €1.50 | 6.33xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€147.30MebitdaCapex€12.42McapitalExpendituresInterest€18.50MinterestExpenseShort-term debt€2.80MshortLongTermDebtEBITDA − capex€134.88MPrincipal due is the current portion of debt.Result 6.33x | €87.92MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow€100.34MtotalCashFromOperatingActivitiesCapex€12.42McapitalExpendituresFree cash flow€87.92MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €87.92M | 13.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€144.13MoperatingIncomeTax expense€17.58MtaxProvisionPretax income€125.19MincomeBeforeTaxTax rate14.0%Equity€792.57MtotalStockholderEquityDebt€239.03MlongTermDebt + shortLongTermDebtCash€75.20McashInvested capital€956.41MResult 13.0% | 2.13xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income€144.13MoperatingIncomeNet PP&E€67.74MpropertyPlantAndEquipmentNetResult 2.13x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: €67.74M
Inventory: €837.72M
Total assets: €1.22B
Goodwill: €5.70M
Intangibles: €8.59M
Liabilities: €431.67M
Tangible book: €778.28M
Shares: 520,472,536
Revenue: €925.88M
Capex: €12.42M
D&A: €3.61M
EBITDA: €147.30M
Interest: €18.50M
Short-term debt: €2.80M
Free cash flow: €87.92M
Operating income: €144.13M
Invested capital: €956.41M
Tax rate: 14.0%