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.
Turkiye Is Bankasi AS Class C
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 0.00x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Fixed-asset turnover is 4.34x. Compare it with other names in the same basket.
Physical asset ratio
1.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 97.69BpropertyPlantAndEquipmentNetInventoryTRY 0.00Not reported, treated as 0Total assetsTRY 5,389.34BtotalAssetsInventory was not reported and is treated as zero.Result 1.8%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.34xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 423.91BtotalRevenueNet PP&ETRY 97.69BpropertyPlantAndEquipmentNetResult 4.34x
Revenue per dollar of the physical asset base.
Capex / D&A
0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 0.00capitalExpendituresD&ATRY 8.72BreconciledDepreciationResult 0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
TRY 19.39Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 5,389.34BtotalAssetsGoodwillTRY 0.00goodWillIntangiblesTRY 20.08BintangibleAssetsLiabilitiesTRY 4,884.52BtotalLiabTangible bookTRY 484.74BShares25,000,000,000commonStockSharesOutstandingResult TRY 19.39
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.60xPrice / tangible bookPrice / tangible book per sharePriceTRY 11.65Latest quoteTangible book / shareTRY 19.392025-12-31Result 0.60x
Price TRY 11.65.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapexTRY 0.00capitalExpendituresInterestTRY 686.63BinterestExpenseShort-term debt—Not reportedResult —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
62.2%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowTRY 181.10BfreeCashFlowMarket capTRY 291.25BMarketCapitalizationResult 62.2%
Latest free cash flow divided by current market cap (TRY 291.25B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expenseTRY 23.36BtaxProvisionPretax incomeTRY 113.42BincomeBeforeTaxTax rate20.6%EquityTRY 428.06BtotalStockholderEquityDebt—Not reportedCashTRY 1,076.24BcashInvested capital—Result —
After-tax operating income over equity plus debt minus cash.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -14.1%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 7.10BpropertyPlantEquipmentInventory-TRY 77.79BinventoryTotal assetsTRY 499.91BtotalAssetsResult -14.1% | 5.59xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueTRY 39.70BtotalRevenueNet PP&ETRY 7.10BpropertyPlantEquipmentResult 5.59x | 1.76xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexTRY 3.07BcapitalExpendituresD&ATRY 1.75BdepreciationAndAmortizationResult 1.76x | TRY 12.16Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 499.91BtotalAssetsGoodwillTRY 35.97MgoodWillIntangiblesTRY 847.57MintangibleAssetsLiabilitiesTRY 444.29BtotalLiabTangible bookTRY 54.73BShares4,500,000,000commonStockSharesOutstandingResult TRY 12.16 | 0.36xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 34.43BOperating income + D&ACapexTRY 3.07BcapitalExpendituresInterestTRY 24.63BinterestExpenseShort-term debtTRY 62.35BshortTermDebtEBITDA − capexTRY 31.36BEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is short-term debt.Result 0.36x | TRY 21.65BFree cash flow · 2018-12-31Reported free cash flowOperating cash flowTRY 24.72BtotalCashFromOperatingActivitiesCapexTRY 3.07BcapitalExpendituresFree cash flowTRY 21.65BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 21.65B | 22.8%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 32.68BoperatingIncomeTax expenseTRY 1.62BincomeTaxExpensePretax incomeTRY 11.03BincomeBeforeTaxTax rate14.7%EquityTRY 49.59BtotalStockholderEquityDebtTRY 110.99BshortLongTermDebtTotalCashTRY 38.33BcashInvested capitalTRY 122.25BResult 22.8% | 4.60xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeTRY 32.68BoperatingIncomeNet PP&ETRY 7.10BpropertyPlantEquipmentResult 4.60x |
| 2019 | -15.9%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 7.99BpropertyPlantEquipmentInventory-TRY 97.67BinventoryTotal assetsTRY 565.05BtotalAssetsResult -15.9% | 5.51xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueTRY 44.06BtotalRevenueNet PP&ETRY 7.99BpropertyPlantEquipmentResult 5.51x | 1.60xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexTRY 4.05BcapitalExpendituresD&ATRY 2.54BdepreciationAndAmortizationResult 1.60x | TRY 2.58Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 565.05BtotalAssetsGoodwillTRY 35.97MgoodWillIntangiblesTRY 1.16BintangibleAssetsLiabilitiesTRY 499.35BtotalLiabTangible bookTRY 64.50BShares24,999,843,007commonStockSharesOutstandingResult TRY 2.58 | 0.14xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 11.98BebitdaCapexTRY 4.05BcapitalExpendituresInterestTRY 26.11BinterestExpenseShort-term debtTRY 32.51BshortTermDebtEBITDA − capexTRY 7.93BPrincipal due is short-term debt.Result 0.14x | TRY 30.77BFree cash flow · 2019-12-31Reported free cash flowOperating cash flowTRY 34.83BtotalCashFromOperatingActivitiesCapexTRY 4.05BcapitalExpendituresFree cash flowTRY 30.77BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 30.77B | 5.2%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 7.24BoperatingIncomeTax expenseTRY 1.33BincomeTaxExpensePretax incomeTRY 9.57BincomeBeforeTaxTax rate13.9%EquityTRY 58.64BtotalStockholderEquityDebtTRY 111.89BshortLongTermDebtTotalCashTRY 51.35BcashInvested capitalTRY 119.18BResult 5.2% | 0.91xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeTRY 7.24BoperatingIncomeNet PP&ETRY 7.99BpropertyPlantEquipmentResult 0.91x |
| 2020 | -16.0%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 8.10BpropertyPlantEquipmentInventory-TRY 123.09BinventoryTotal assetsTRY 718.15BtotalAssetsResult -16.0% | 7.13xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueTRY 57.78BtotalRevenueNet PP&ETRY 8.10BpropertyPlantEquipmentResult 7.13x | 1.23xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexTRY 3.37BcapitalExpendituresD&ATRY 2.74BdepreciationAndAmortizationResult 1.23x | TRY 2.93Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 718.15BtotalAssetsGoodwillTRY 35.97MgoodWillIntangiblesTRY 1.62BintangibleAssetsLiabilitiesTRY 643.29BtotalLiabTangible bookTRY 73.21BShares24,999,843,007commonStockSharesOutstandingResult TRY 2.93 | 0.60xFixed-charge coverage · 2020-12-31(EBITDA − capex) / interestEBITDATRY 15.03BebitdaCapexTRY 3.37BcapitalExpendituresInterestTRY 19.32BinterestExpenseEBITDA − capexTRY 11.66BShort-term debt was not reported, so the denominator is interest only.Result 0.60x | TRY 39.16BFree cash flow · 2020-12-31Reported free cash flowOperating cash flowTRY 42.53BtotalCashFromOperatingActivitiesCapexTRY 3.37BcapitalExpendituresFree cash flowTRY 39.16BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 39.16B | 5.2%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 10.02BoperatingIncomeTax expenseTRY 3.37BincomeTaxExpensePretax incomeTRY 12.42BincomeBeforeTaxTax rate27.2%EquityTRY 67.45BtotalStockholderEquityDebtTRY 131.09BshortLongTermDebtTotalCashTRY 57.07BcashInvested capitalTRY 141.46BResult 5.2% | 1.24xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeTRY 10.02BoperatingIncomeNet PP&ETRY 8.10BpropertyPlantEquipmentResult 1.24x |
| 2021 | -25.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 11.41BpropertyPlantEquipmentInventory-TRY 292.53BinventoryTotal assetsTRY 1,124.40BtotalAssetsResult -25.0% | 5.26xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueTRY 60.04BtotalRevenueNet PP&ETRY 11.41BpropertyPlantEquipmentResult 5.26x | 0.24xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexTRY 830.15McapitalExpendituresD&ATRY 3.43BdepreciationAndAmortizationResult 0.24x | TRY 3.76Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 1,124.40BtotalAssetsGoodwillTRY 27.99MgoodWillIntangiblesTRY 2.15BintangibleAssetsLiabilitiesTRY 1,028.24BtotalLiabTangible bookTRY 93.99BShares24,999,843,007commonStockSharesOutstandingResult TRY 3.76 | 0.85xFixed-charge coverage · 2021-12-31(EBITDA − capex) / interestEBITDATRY 28.41BebitdaCapexTRY 830.15McapitalExpendituresInterestTRY 32.53BinterestExpenseEBITDA − capexTRY 27.58BShort-term debt was not reported, so the denominator is interest only.Result 0.85x | TRY 103.53BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowTRY 104.36BtotalCashFromOperatingActivitiesCapexTRY 830.15McapitalExpendituresFree cash flowTRY 103.53BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 103.53B | 15.4%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 16.93BoperatingIncomeTax expenseTRY 3.39BincomeTaxExpensePretax incomeTRY 18.95BincomeBeforeTaxTax rate17.9%EquityTRY 86.93BtotalStockholderEquityDebtTRY 137.99BshortLongTermDebtTotalCashTRY 134.69BcashInvested capitalTRY 90.23BResult 15.4% | 1.48xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeTRY 16.93BoperatingIncomeNet PP&ETRY 11.41BpropertyPlantEquipmentResult 1.48x |
| 2022 | -15.1%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 24.48BpropertyPlantEquipmentInventory-TRY 283.59BinventoryTotal assetsTRY 1,715.43BtotalAssetsResult -15.1% | 6.26xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueTRY 153.33BtotalRevenueNet PP&ETRY 24.48BpropertyPlantEquipmentResult 6.26x | 1.17xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexTRY 2.40BcapitalExpendituresD&ATRY 2.05BdepreciationAndAmortizationResult 1.17x | TRY 8.24Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 1,715.43BtotalAssetsGoodwillTRY 27.99MgoodWillIntangiblesTRY 4.05BintangibleAssetsLiabilitiesTRY 1,505.38BtotalLiabTangible bookTRY 205.97BShares24,999,929,364commonStockSharesOutstandingResult TRY 8.24 | 1.37xFixed-charge coverage · 2022-12-31(EBITDA − capex) / interestEBITDATRY 76.35BebitdaCapexTRY 2.40BcapitalExpendituresInterestTRY 54.16BinterestExpenseEBITDA − capexTRY 73.96BShort-term debt was not reported, so the denominator is interest only.Result 1.37x | TRY 86.04BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowTRY 88.43BtotalCashFromOperatingActivitiesCapexTRY 2.40BcapitalExpendituresFree cash flowTRY 86.04BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 86.04B | 46.9%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 131.21BoperatingIncomeTax expenseTRY 15.45BincomeTaxExpensePretax incomeTRY 84.51BincomeBeforeTaxTax rate18.3%EquityTRY 191.25BtotalStockholderEquityDebtTRY 162.03BshortLongTermDebtTotalCashTRY 124.81BcashInvested capitalTRY 228.47BResult 46.9% | 5.36xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeTRY 131.21BoperatingIncomeNet PP&ETRY 24.48BpropertyPlantEquipmentResult 5.36x |
| 2023 | 1.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 44.80BpropertyPlantAndEquipmentNetInventoryTRY 0.00Not reported, treated as 0Total assetsTRY 2,954.74BtotalAssetsInventory was not reported and is treated as zero.Result 1.5% | 4.61xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueTRY 206.56BtotalRevenueNet PP&ETRY 44.80BpropertyPlantAndEquipmentNetResult 4.61x | 1.09xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexTRY 3.74BcapitalExpendituresD&ATRY 3.43BdepreciationAndAmortizationResult 1.09x | TRY 11.85Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 2,954.74BtotalAssetsGoodwillTRY 27.99MgoodWillIntangiblesTRY 7.11BintangibleAssetsLiabilitiesTRY 2,651.39BtotalLiabTangible bookTRY 296.22BShares25,000,225,000commonStockSharesOutstandingResult TRY 11.85 | 1.03xFixed-charge coverage · 2023-12-31(EBITDA − capex) / interestEBITDATRY 177.04BOperating income + D&ACapexTRY 3.74BcapitalExpendituresInterestTRY 168.23BinterestExpenseEBITDA − capexTRY 173.30BEBITDA is operating income plus D&A because the income statement did not report EBITDA.Short-term debt was not reported, so the denominator is interest only.Result 1.03x | TRY 441.71BFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-TRY 193.27BtotalCashFromOperatingActivitiesCapexTRY 3.74BcapitalExpendituresFree cash flowTRY 441.71BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 441.71B | 54.6%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 173.61BoperatingIncomeTax expenseTRY 13.48BincomeTaxExpensePretax incomeTRY 99.85BincomeBeforeTaxTax rate13.5%EquityTRY 268.20BtotalStockholderEquityDebtTRY 626.07BshortLongTermDebtTotalCashTRY 619.46BcashInvested capitalTRY 274.81BResult 54.6% | 3.88xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeTRY 173.61BoperatingIncomeNet PP&ETRY 44.80BpropertyPlantAndEquipmentNetResult 3.88x |
| 2024 | 1.8%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 71.15BpropertyPlantAndEquipmentNetInventoryTRY 0.00Not reported, treated as 0Total assetsTRY 3,860.70BtotalAssetsInventory was not reported and is treated as zero.Result 1.8% | 3.94xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueTRY 280.67BtotalRevenueNet PP&ETRY 71.15BpropertyPlantAndEquipmentNetResult 3.94x | 0.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexTRY 0.00capitalExpendituresD&ATRY 5.63BreconciledDepreciationResult 0.00x | TRY 14.42Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 3,860.70BtotalAssetsGoodwillTRY 27.99MgoodWillIntangiblesTRY 12.29BintangibleAssetsLiabilitiesTRY 3,487.99BtotalLiabTangible bookTRY 360.40BShares25,000,000,000commonStockSharesOutstandingResult TRY 14.42 | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapexTRY 0.00capitalExpendituresInterestTRY 519.55BinterestExpenseShort-term debt—Not reportedResult — | TRY 184.18BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowTRY 184.18BtotalCashFromOperatingActivitiesCapexTRY 0.00capitalExpendituresFree cash flowTRY 184.18BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 184.18B | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expenseTRY 8.33BtaxProvisionPretax incomeTRY 72.10BincomeBeforeTaxTax rate11.6%EquityTRY 318.17BtotalStockholderEquityDebt—Not reportedCashTRY 733.33BcashInvested capital—Result — | —EBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income—Not reportedNet PP&ETRY 71.15BpropertyPlantAndEquipmentNetResult — |
| 2025 | 1.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 97.69BpropertyPlantAndEquipmentNetInventoryTRY 0.00Not reported, treated as 0Total assetsTRY 5,389.34BtotalAssetsInventory was not reported and is treated as zero.Result 1.8% | 4.34xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 423.91BtotalRevenueNet PP&ETRY 97.69BpropertyPlantAndEquipmentNetResult 4.34x | 0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 0.00capitalExpendituresD&ATRY 8.72BreconciledDepreciationResult 0.00x | TRY 19.39Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 5,389.34BtotalAssetsGoodwillTRY 0.00goodWillIntangiblesTRY 20.08BintangibleAssetsLiabilitiesTRY 4,884.52BtotalLiabTangible bookTRY 484.74BShares25,000,000,000commonStockSharesOutstandingResult TRY 19.39 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapexTRY 0.00capitalExpendituresInterestTRY 686.63BinterestExpenseShort-term debt—Not reportedResult — | TRY 181.10BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowTRY 181.10BtotalCashFromOperatingActivitiesCapexTRY 0.00capitalExpendituresFree cash flowTRY 181.10BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 181.10B | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expenseTRY 23.36BtaxProvisionPretax incomeTRY 113.42BincomeBeforeTaxTax rate20.6%EquityTRY 428.06BtotalStockholderEquityDebt—Not reportedCashTRY 1,076.24BcashInvested capital—Result — | —EBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income—Not reportedNet PP&ETRY 97.69BpropertyPlantAndEquipmentNetResult — |
- Inventory was missing and treated as zero in the physical asset ratio.
Latest year inputs (2025)
Net PP&E: TRY 97.69B
Inventory: TRY 0.00
Total assets: TRY 5,389.34B
Goodwill: TRY 0.00
Intangibles: TRY 20.08B
Liabilities: TRY 4,884.52B
Tangible book: TRY 484.74B
Shares: 25,000,000,000
Revenue: TRY 423.91B
Capex: TRY 0.00
D&A: TRY 8.72B
EBITDA: —
Interest: TRY 686.63B
Short-term debt: —
Free cash flow: TRY 181.10B
Operating income: —
Invested capital: —
Tax rate: 20.6%