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.
Konecranes Plc
Physical assets are 29.3% of total assets, a light footprint. Capex is 0.36x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 22.2%, above an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 9.98x.
Physical asset ratio
29.3%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E€419.60MpropertyPlantAndEquipmentNetInventory€913.40MinventoryTotal assets€4.55BtotalAssetsResult 29.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
9.98xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue€4.19BtotalRevenueNet PP&E€419.60MpropertyPlantAndEquipmentNetResult 9.98x
Revenue per dollar of the physical asset base.
Capex / D&A
0.36xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex€49.40McapitalExpendituresD&A€136.20MdepreciationAndAmortizationResult 0.36x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
€2.68Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.55BtotalAssetsGoodwill€1.04BgoodWillIntangibles€417.70MintangibleAssetsLiabilities€2.45BtotalLiabTangible book€638.60MShares238,654,377commonStockSharesOutstandingResult €2.68
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
10.19xPrice / tangible bookPrice / tangible book per sharePrice€27.28Latest quoteTangible book / share€2.682025-12-31Result 10.19x
Price €27.28.
Fixed-charge coverage
2.90xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€715.60MebitdaCapex€49.40McapitalExpendituresInterest€63.70MinterestExpenseShort-term debt€166.20MshortTermDebtEBITDA − capex€666.20MPrincipal due is short-term debt.Result 2.90x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
8.0%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow€520.10MfreeCashFlowMarket cap€6.48BMarketCapitalizationResult 8.0%
Latest free cash flow divided by current market cap (€6.48B).
ROIC
22.2%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€552.50MoperatingIncomeTax expense€116.80MincomeTaxExpensePretax income€516.50MincomeBeforeTaxTax rate22.6%Equity€2.09BtotalStockholderEquityDebt€469.90MshortLongTermDebtTotalCash€631.90McashInvested capital€1.93BResult 22.2%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.32x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 24.4%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E€251.00MpropertyPlantAndEquipmentNetInventory€618.30MinventoryTotal assets€3.57BtotalAssetsResult 24.4% | 12.56xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue€3.15BtotalRevenueNet PP&E€251.00MpropertyPlantAndEquipmentNetResult 12.56x | 0.36xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex€38.30McapitalExpendituresD&A€106.10MdepreciationAndAmortizationResult 0.36x | -€0.87Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€3.57BtotalAssetsGoodwill€906.10MgoodWillIntangibles€582.80MintangibleAssetsLiabilities€2.28BtotalLiabTangible book-€204.70MShares236,433,000commonStockSharesOutstandingResult -€0.87 | 1.09xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€268.80MebitdaCapex€38.30McapitalExpendituresInterest€28.10MinterestExpenseShort-term debt€183.80MshortLongTermDebtEBITDA − capex€230.50MPrincipal due is the current portion of debt.Result 1.09x | €70.90MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow€109.20MtotalCashFromOperatingActivitiesCapex€38.30McapitalExpendituresFree cash flow€70.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €70.90M | 6.5%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€166.20MoperatingIncomeTax expense€40.40MincomeTaxExpensePretax income€138.70MincomeBeforeTaxTax rate29.1%Equity€1.27BtotalStockholderEquityDebt€776.40MshortLongTermDebtTotalCash€230.50McashInvested capital€1.81BResult 6.5% | 0.66xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income€166.20MoperatingIncomeNet PP&E€251.00MpropertyPlantAndEquipmentNetResult 0.66x |
| 2019 | 25.6%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E€348.60MpropertyPlantAndEquipmentNetInventory€637.50MinventoryTotal assets€3.85BtotalAssetsResult 25.6% | 9.53xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue€3.32BtotalRevenueNet PP&E€348.60MpropertyPlantAndEquipmentNetResult 9.53x | 0.33xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex€40.70McapitalExpendituresD&A€123.60MdepreciationAndAmortizationResult 0.33x | -€0.82Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€3.85BtotalAssetsGoodwill€908.20MgoodWillIntangibles€531.60MintangibleAssetsLiabilities€2.61BtotalLiabTangible book-€193.10MShares236,508,000commonStockSharesOutstandingResult -€0.82 | 0.81xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€263.60MebitdaCapex€40.70McapitalExpendituresInterest€26.00MinterestExpenseShort-term debt€248.40MshortTermDebtEBITDA − capex€222.90MPrincipal due is short-term debt.Result 0.81x | €132.10MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow€172.80MtotalCashFromOperatingActivitiesCapex€40.70McapitalExpendituresFree cash flow€132.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €132.10M | 5.5%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€148.70MoperatingIncomeTax expense€35.70MincomeTaxExpensePretax income€118.50MincomeBeforeTaxTax rate30.1%Equity€1.24BtotalStockholderEquityDebt€1.03BshortLongTermDebtTotalCash€378.20McashInvested capital€1.89BResult 5.5% | 0.43xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income€148.70MoperatingIncomeNet PP&E€348.60MpropertyPlantAndEquipmentNetResult 0.43x |
| 2020 | 24.6%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E€361.70MpropertyPlantAndEquipmentNetInventory€626.40MinventoryTotal assets€4.02BtotalAssetsResult 24.6% | 8.77xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue€3.17BtotalRevenueNet PP&E€361.70MpropertyPlantAndEquipmentNetResult 8.77x | 0.34xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex€43.80McapitalExpendituresD&A€130.00MdepreciationAndAmortizationResult 0.34x | -€1.27Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.02BtotalAssetsGoodwill€1.02BgoodWillIntangibles€536.00MintangibleAssetsLiabilities€2.77BtotalLiabTangible book-€301.60MShares237,234,000commonStockSharesOutstandingResult -€1.27 | 0.92xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€324.50MebitdaCapex€43.80McapitalExpendituresInterest€30.70MinterestExpenseShort-term debt€273.20MshortLongTermDebtEBITDA − capex€280.70MPrincipal due is the current portion of debt.Result 0.92x | €363.30MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow€407.10MtotalCashFromOperatingActivitiesCapex€43.80McapitalExpendituresFree cash flow€363.30MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €363.30M | 6.9%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€173.80MoperatingIncomeTax expense€47.50MincomeTaxExpensePretax income€170.40MincomeBeforeTaxTax rate27.9%Equity€1.24BtotalStockholderEquityDebt€1.17BshortLongTermDebtTotalCash€591.90McashInvested capital€1.82BResult 6.9% | 0.48xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income€173.80MoperatingIncomeNet PP&E€361.70MpropertyPlantAndEquipmentNetResult 0.48x |
| 2021 | 28.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E€350.20MpropertyPlantAndEquipmentNetInventory€726.40MinventoryTotal assets€3.85BtotalAssetsResult 28.0% | 9.08xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue€3.18BtotalRevenueNet PP&E€350.20MpropertyPlantAndEquipmentNetResult 9.08x | 0.34xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex€40.50McapitalExpendituresD&A€120.10MdepreciationAndAmortizationResult 0.34x | -€0.69Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€3.85BtotalAssetsGoodwill€1.02BgoodWillIntangibles€503.10MintangibleAssetsLiabilities€2.49BtotalLiabTangible book-€164.60MShares238,821,000commonStockSharesOutstandingResult -€0.69 | 0.73xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€337.90MebitdaCapex€40.50McapitalExpendituresInterest€25.60MinterestExpenseShort-term debt€379.70MshortLongTermDebtEBITDA − capex€297.40MPrincipal due is the current portion of debt.Result 0.73x | €127.90MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow€168.40MtotalCashFromOperatingActivitiesCapex€40.50McapitalExpendituresFree cash flow€127.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €127.90M | 8.9%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€220.00MoperatingIncomeTax expense€45.10MincomeTaxExpensePretax income€192.50MincomeBeforeTaxTax rate23.4%Equity€1.35BtotalStockholderEquityDebt€865.10MshortLongTermDebtTotalCash€320.70McashInvested capital€1.90BResult 8.9% | 0.63xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income€220.00MoperatingIncomeNet PP&E€350.20MpropertyPlantAndEquipmentNetResult 0.63x |
| 2022 | 30.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E€364.00MpropertyPlantEquipmentInventory€947.30MinventoryTotal assets€4.34BtotalAssetsResult 30.2% | 9.22xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue€3.36BtotalRevenueNet PP&E€364.00MpropertyPlantEquipmentResult 9.22x | 0.39xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex€44.70McapitalExpendituresD&A€115.20MdepreciationAndAmortizationResult 0.39x | -€0.26Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.34BtotalAssetsGoodwill€1.02BgoodWillIntangibles€475.30MintangibleAssetsLiabilities€2.91BtotalLiabTangible book-€61.90MShares238,524,000commonStockSharesOutstandingResult -€0.26 | 6.40xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€338.00MebitdaCapex€44.70McapitalExpendituresInterest€32.50MinterestExpenseShort-term debt€13.30MshortLongTermDebtEBITDA − capex€293.30MPrincipal due is the current portion of debt.Result 6.40x | €22.00MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow€66.70MtotalCashFromOperatingActivitiesCapex€44.70McapitalExpendituresFree cash flow€22.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €22.00M | 7.6%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€223.20MoperatingIncomeTax expense€52.20MincomeTaxExpensePretax income€190.70MincomeBeforeTaxTax rate27.4%Equity€1.43BtotalStockholderEquityDebt€1.11BshortLongTermDebtTotalCash€413.90McashInvested capital€2.13BResult 7.6% | 0.61xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income€223.20MoperatingIncomeNet PP&E€364.00MpropertyPlantEquipmentResult 0.61x |
| 2023 | 30.1%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E€375.70MpropertyPlantAndEquipmentNetInventory€995.90MinventoryTotal assets€4.55BtotalAssetsResult 30.1% | 10.56xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue€3.97BtotalRevenueNet PP&E€375.70MpropertyPlantAndEquipmentNetResult 10.56x | 0.46xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex€52.40McapitalExpendituresD&A€114.60MdepreciationAndAmortizationResult 0.46x | €0.41Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.55BtotalAssetsGoodwill€1.04BgoodWillIntangibles€458.10MintangibleAssetsLiabilities€2.96BtotalLiabTangible book€98.10MShares238,749,000commonStockSharesOutstandingResult €0.41 | 1.93xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€518.70MebitdaCapex€52.40McapitalExpendituresInterest€51.90MinterestExpenseShort-term debt€189.50MshortLongTermDebtEBITDA − capex€466.30MPrincipal due is the current portion of debt.Result 1.93x | €504.90MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow€557.30MtotalCashFromOperatingActivitiesCapex€52.40McapitalExpendituresFree cash flow€504.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €504.90M | 15.4%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€402.50MoperatingIncomeTax expense€92.00MincomeTaxExpensePretax income€367.60MincomeBeforeTaxTax rate25.0%Equity€1.59BtotalStockholderEquityDebt€954.90MshortLongTermDebtTotalCash€586.60McashInvested capital€1.96BResult 15.4% | 1.07xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income€402.50MoperatingIncomeNet PP&E€375.70MpropertyPlantAndEquipmentNetResult 1.07x |
| 2024 | 28.4%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E€457.90MpropertyPlantAndEquipmentNetInventory€902.10MinventoryTotal assets€4.79BtotalAssetsResult 28.4% | 9.23xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue€4.23BtotalRevenueNet PP&E€457.90MpropertyPlantAndEquipmentNetResult 9.23x | 0.57xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex€69.20McapitalExpendituresD&A€120.40MdepreciationAndAmortizationResult 0.57x | €1.47Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.79BtotalAssetsGoodwill€1.06BgoodWillIntangibles€449.90MintangibleAssetsLiabilities€2.93BtotalLiabTangible book€349.40MShares238,464,606commonStockSharesOutstandingResult €1.47 | 1.43xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€659.70MebitdaCapex€69.20McapitalExpendituresInterest€57.20MinterestExpenseShort-term debt€356.30MshortLongTermDebtEBITDA − capex€590.50MPrincipal due is the current portion of debt.Result 1.43x | €422.40MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow€491.60MtotalCashFromOperatingActivitiesCapex€69.20McapitalExpendituresFree cash flow€422.40MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €422.40M | 19.0%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€511.40MoperatingIncomeTax expense€116.90MincomeTaxExpensePretax income€485.30MincomeBeforeTaxTax rate24.1%Equity€1.86BtotalStockholderEquityDebt€895.70MshortLongTermDebtTotalCash€710.00McashInvested capital€2.04BResult 19.0% | 1.12xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income€511.40MoperatingIncomeNet PP&E€457.90MpropertyPlantAndEquipmentNetResult 1.12x |
| 2025 | 29.3%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E€419.60MpropertyPlantAndEquipmentNetInventory€913.40MinventoryTotal assets€4.55BtotalAssetsResult 29.3% | 9.98xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue€4.19BtotalRevenueNet PP&E€419.60MpropertyPlantAndEquipmentNetResult 9.98x | 0.36xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex€49.40McapitalExpendituresD&A€136.20MdepreciationAndAmortizationResult 0.36x | €2.68Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets€4.55BtotalAssetsGoodwill€1.04BgoodWillIntangibles€417.70MintangibleAssetsLiabilities€2.45BtotalLiabTangible book€638.60MShares238,654,377commonStockSharesOutstandingResult €2.68 | 2.90xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA€715.60MebitdaCapex€49.40McapitalExpendituresInterest€63.70MinterestExpenseShort-term debt€166.20MshortTermDebtEBITDA − capex€666.20MPrincipal due is short-term debt.Result 2.90x | €520.10MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow€569.50MtotalCashFromOperatingActivitiesCapex€49.40McapitalExpendituresFree cash flow€520.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result €520.10M | 22.2%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income€552.50MoperatingIncomeTax expense€116.80MincomeTaxExpensePretax income€516.50MincomeBeforeTaxTax rate22.6%Equity€2.09BtotalStockholderEquityDebt€469.90MshortLongTermDebtTotalCash€631.90McashInvested capital€1.93BResult 22.2% | 1.32xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income€552.50MoperatingIncomeNet PP&E€419.60MpropertyPlantAndEquipmentNetResult 1.32x |
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: €419.60M
Inventory: €913.40M
Total assets: €4.55B
Goodwill: €1.04B
Intangibles: €417.70M
Liabilities: €2.45B
Tangible book: €638.60M
Shares: 238,654,377
Revenue: €4.19B
Capex: €49.40M
D&A: €136.20M
EBITDA: €715.60M
Interest: €63.70M
Short-term debt: €166.20M
Free cash flow: €520.10M
Operating income: €552.50M
Invested capital: €1.93B
Tax rate: 22.6%