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.
Bank Leumi Le-Israel B.M
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 1.65x 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. EBITDA after capex covers debt service by 0.68x, which is below 1.
Fixed-asset turnover is 11.86x. Compare it with other names in the same basket.
Physical asset ratio
0.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.77BpropertyPlantAndEquipmentNetInventoryILA 0.00Not reported, treated as 0Total assetsILA 872.97BtotalAssetsInventory was not reported and is treated as zero.Result 0.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
11.86xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 44.77BtotalRevenueNet PP&EILA 3.77BpropertyPlantAndEquipmentNetResult 11.86x
Revenue per dollar of the physical asset base.
Capex / D&A
1.65xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 904.00McapitalExpendituresD&AILA 548.00MdepreciationAndAmortizationResult 1.65x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
ILA 45.52Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 872.97BtotalAssetsGoodwillILA 0.00Not reported, treated as 0IntangiblesILA 0.00Not reported, treated as 0LiabilitiesILA 804.84BtotalLiabTangible bookILA 68.14BShares1,496,839,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result ILA 45.52
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
158.20xPrice / tangible bookPrice / tangible book per sharePriceILA 7.20KLatest quoteTangible book / shareILA 45.522025-12-31Result 158.20x
Price ILA 7.20K.
Fixed-charge coverage
0.68xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDAILA 16.13BebitdaCapexILA 904.00McapitalExpendituresInterestILA 22.24BinterestExpenseEBITDA − capexILA 15.23BShort-term debt was not reported, so the denominator is interest only.Result 0.68x
EBITDA minus capex, divided by interest only.
FCF yield
496.9%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowILA 5.27BfreeCashFlowMarket capILA 1.06BMarketCapitalizationResult 496.9%
Latest free cash flow divided by current market cap (ILA 1.06B).
ROIC
4,170.6%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 15.93BoperatingIncomeTax expenseILA 5.67BincomeTaxExpensePretax incomeILA 15.58BincomeBeforeTaxTax rate36.4%EquityILA 68.13BtotalStockholderEquityDebtILA 79.73BshortLongTermDebtTotalCashILA 147.62BcashAndShortTermInvestmentsInvested capitalILA 243.00MResult 4,170.6%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 4.22x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.6%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 2.85BpropertyPlantAndEquipmentNetInventoryILA 0.00Not reported, treated as 0Total assetsILA 460.78BtotalAssetsInventory was not reported and is treated as zero.Result 0.6% | 5.51xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueILA 15.72BtotalRevenueNet PP&EILA 2.85BpropertyPlantAndEquipmentNetResult 5.51x | 1.25xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexILA 716.00McapitalExpendituresD&AILA 572.00MdepreciationAndAmortizationResult 1.25x | ILA 292.13Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 460.78BtotalAssetsGoodwillILA 17.00MgoodWillIntangiblesILA 739.00MintangibleAssetsLiabilitiesILA 17.80BtotalLiabTangible bookILA 442.23BShares1,513,790,000commonStockSharesOutstandingResult ILA 292.13 | 1.94xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 5.48BebitdaCapexILA 716.00McapitalExpendituresInterestILA 2.46BinterestExpenseShort-term debtILA 0.00shortLongTermDebtTotal − longTermDebtEBITDA − capexILA 4.76BShort-term debt is total debt minus long-term debt.Result 1.94x | ILA 1.17BFree cash flow · 2018-12-31Reported free cash flowOperating cash flowILA 1.89BtotalCashFromOperatingActivitiesCapexILA 716.00McapitalExpendituresFree cash flowILA 1.17BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 1.17B | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 4.91BoperatingIncomeTax expenseILA 1.62BincomeTaxExpensePretax incomeILA 4.91BincomeBeforeTaxTax rate33.0%EquityILA 35.31BtotalStockholderEquityDebtILA 17.80BshortLongTermDebtTotalCashILA 70.75BcashInvested capital—Result — | 1.72xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeILA 4.91BoperatingIncomeNet PP&EILA 2.85BpropertyPlantAndEquipmentNetResult 1.72x |
| 2019 | 0.6%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.04BpropertyPlantAndEquipmentNetInventoryILA 2.00MinventoryTotal assetsILA 468.78BtotalAssetsResult 0.6% | 5.26xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueILA 16.01BtotalRevenueNet PP&EILA 3.04BpropertyPlantAndEquipmentNetResult 5.26x | 1.57xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexILA 942.00McapitalExpendituresD&AILA 600.00MdepreciationAndAmortizationResult 1.57x | ILA 23.57Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 468.78BtotalAssetsGoodwillILA 15.00MgoodWillIntangiblesILA 880.00MintangibleAssetsLiabilitiesILA 432.91BtotalLiabTangible bookILA 34.98BShares1,484,067,000commonStockSharesOutstandingResult ILA 23.57 | 1.95xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 6.01BebitdaCapexILA 942.00McapitalExpendituresInterestILA 2.60BinterestExpenseShort-term debtILA 0.00shortLongTermDebtTotal − longTermDebtEBITDA − capexILA 5.06BShort-term debt is total debt minus long-term debt.Result 1.95x | ILA 11.86BFree cash flow · 2019-12-31Reported free cash flowOperating cash flowILA 12.80BtotalCashFromOperatingActivitiesCapexILA 942.00McapitalExpendituresFree cash flowILA 11.86BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 11.86B | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 5.41BoperatingIncomeTax expenseILA 1.83BincomeTaxExpensePretax incomeILA 5.41BincomeBeforeTaxTax rate33.9%EquityILA 35.41BtotalStockholderEquityDebtILA 19.96BshortLongTermDebtTotalCashILA 72.92BcashInvested capital—Result — | 1.78xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeILA 5.41BoperatingIncomeNet PP&EILA 3.04BpropertyPlantAndEquipmentNetResult 1.78x |
| 2020 | 0.7%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.86BpropertyPlantAndEquipmentNetInventoryILA 6.00MinventoryTotal assetsILA 556.04BtotalAssetsResult 0.7% | 3.74xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueILA 14.43BtotalRevenueNet PP&EILA 3.86BpropertyPlantAndEquipmentNetResult 3.74x | 0.88xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexILA 594.00McapitalExpendituresD&AILA 678.00MdepreciationAndAmortizationResult 0.88x | ILA 25.61Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 556.04BtotalAssetsGoodwillILA 15.00MgoodWillIntangiblesILA 794.00MintangibleAssetsLiabilitiesILA 517.94BtotalLiabTangible bookILA 37.29BShares1,455,802,000commonStockSharesOutstandingResult ILA 25.61 | 2.46xFixed-charge coverage · 2020-12-31(EBITDA − capex) / interestEBITDAILA 4.17BebitdaCapexILA 594.00McapitalExpendituresInterestILA 1.45BinterestExpenseEBITDA − capexILA 3.58BShort-term debt was not reported, so the denominator is interest only.Result 2.46x | ILA 4.96BFree cash flow · 2020-12-31Reported free cash flowOperating cash flowILA 5.56BtotalCashFromOperatingActivitiesCapexILA 594.00McapitalExpendituresFree cash flowILA 4.96BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 4.96B | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 3.49BoperatingIncomeTax expenseILA 1.36BincomeTaxExpensePretax incomeILA 3.49BincomeBeforeTaxTax rate38.8%EquityILA 37.66BtotalStockholderEquityDebtILA 17.23BshortLongTermDebtTotalCashILA 132.62BcashInvested capital—Result — | 0.90xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeILA 3.49BoperatingIncomeNet PP&EILA 3.86BpropertyPlantAndEquipmentNetResult 0.90x |
| 2021 | 0.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.52BpropertyPlantAndEquipmentNetInventoryILA 9.00MinventoryTotal assetsILA 656.45BtotalAssetsResult 0.5% | 4.78xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueILA 16.82BtotalRevenueNet PP&EILA 3.52BpropertyPlantAndEquipmentNetResult 4.78x | 0.78xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexILA 543.00McapitalExpendituresD&AILA 694.00MdepreciationAndAmortizationResult 0.78x | ILA 28.46Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 656.45BtotalAssetsGoodwillILA 14.00MgoodWillIntangiblesILA 684.00MintangibleAssetsLiabilitiesILA 614.40BtotalLiabTangible bookILA 41.35BShares1,452,896,000commonStockSharesOutstandingResult ILA 28.46 | 7.08xFixed-charge coverage · 2021-12-31(EBITDA − capex) / interestEBITDAILA 9.94BebitdaCapexILA 543.00McapitalExpendituresInterestILA 1.33BinterestExpenseEBITDA − capexILA 9.39BShort-term debt was not reported, so the denominator is interest only.Result 7.08x | ILA 4.66BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowILA 5.20BtotalCashFromOperatingActivitiesCapexILA 543.00McapitalExpendituresFree cash flowILA 4.66BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 4.66B | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 9.24BoperatingIncomeTax expenseILA 3.28BincomeTaxExpensePretax incomeILA 9.24BincomeBeforeTaxTax rate35.4%EquityILA 41.61BtotalStockholderEquityDebtILA 16.23BshortLongTermDebtTotalCashILA 194.23BcashInvested capital—Result — | 2.63xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeILA 9.24BoperatingIncomeNet PP&EILA 3.52BpropertyPlantAndEquipmentNetResult 2.63x |
| 2022 | 0.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.31BpropertyPlantAndEquipmentNetInventoryILA 8.00MinventoryTotal assetsILA 699.17BtotalAssetsResult 0.5% | 6.90xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueILA 22.80BtotalRevenueNet PP&EILA 3.31BpropertyPlantAndEquipmentNetResult 6.90x | 1.28xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexILA 765.00McapitalExpendituresD&AILA 598.00MdepreciationAndAmortizationResult 1.28x | ILA 32.44Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 699.17BtotalAssetsGoodwillILA 0.00goodWillIntangiblesILA 764.00MintangibleAssetsLiabilitiesILA 649.72BtotalLiabTangible bookILA 48.68BShares1,500,468,000commonStockSharesOutstandingResult ILA 32.44 | 1.92xFixed-charge coverage · 2022-12-31(EBITDA − capex) / interestEBITDAILA 11.49BebitdaCapexILA 765.00McapitalExpendituresInterestILA 5.58BinterestExpenseEBITDA − capexILA 10.73BShort-term debt was not reported, so the denominator is interest only.Result 1.92x | ILA 5.33BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowILA 6.09BtotalCashFromOperatingActivitiesCapexILA 765.00McapitalExpendituresFree cash flowILA 5.33BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 5.33B | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 10.90BoperatingIncomeTax expenseILA 3.56BincomeTaxExpensePretax incomeILA 10.90BincomeBeforeTaxTax rate32.7%EquityILA 49.44BtotalStockholderEquityDebtILA 28.37BshortLongTermDebtTotalCashILA 180.64BcashInvested capital—Result — | 3.30xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeILA 10.90BoperatingIncomeNet PP&EILA 3.31BpropertyPlantAndEquipmentNetResult 3.30x |
| 2023 | 0.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.54BpropertyPlantAndEquipmentNetInventoryILA 0.00Not reported, treated as 0Total assetsILA 731.50BtotalAssetsInventory was not reported and is treated as zero.Result 0.5% | 10.94xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueILA 38.66BtotalRevenueNet PP&EILA 3.54BpropertyPlantAndEquipmentNetResult 10.94x | 1.23xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexILA 833.00McapitalExpendituresD&AILA 675.00MdepreciationAndAmortizationResult 1.23x | ILA 34.98Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 731.50BtotalAssetsGoodwillILA 0.00Not reported, treated as 0IntangiblesILA 793.00MintangibleAssetsLiabilitiesILA 677.00BtotalLiabTangible bookILA 53.71BShares1,535,398,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result ILA 34.98 | 0.67xFixed-charge coverage · 2023-12-31(EBITDA − capex) / interestEBITDAILA 12.58BebitdaCapexILA 833.00McapitalExpendituresInterestILA 17.66BinterestExpenseEBITDA − capexILA 11.74BShort-term debt was not reported, so the denominator is interest only.Result 0.67x | -ILA 966.00MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-ILA 133.00MtotalCashFromOperatingActivitiesCapexILA 833.00McapitalExpendituresFree cash flow-ILA 966.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 966.00M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 11.90BoperatingIncomeTax expenseILA 3.99BincomeTaxExpensePretax incomeILA 11.90BincomeBeforeTaxTax rate33.5%EquityILA 54.50BtotalStockholderEquityDebtILA 32.76BshortLongTermDebtTotalCashILA 102.47BcashInvested capital—Result — | 3.37xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeILA 11.90BoperatingIncomeNet PP&EILA 3.54BpropertyPlantAndEquipmentNetResult 3.37x |
| 2024 | 0.4%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.42BpropertyPlantAndEquipmentNetInventoryILA 0.00Not reported, treated as 0Total assetsILA 785.55BtotalAssetsInventory was not reported and is treated as zero.Result 0.4% | 12.59xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueILA 43.02BtotalRevenueNet PP&EILA 3.42BpropertyPlantAndEquipmentNetResult 12.59x | 1.20xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexILA 737.00McapitalExpendituresD&AILA 613.00MdepreciationAndAmortizationResult 1.20x | ILA 40.02Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 785.55BtotalAssetsGoodwillILA 0.00Not reported, treated as 0IntangiblesILA 944.00MintangibleAssetsLiabilitiesILA 723.89BtotalLiabTangible bookILA 60.72BShares1,517,376,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result ILA 40.02 | 0.38xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 16.10BebitdaCapexILA 737.00McapitalExpendituresInterestILA 20.95BinterestExpenseShort-term debtILA 19.48BshortTermDebtEBITDA − capexILA 15.37BPrincipal due is short-term debt.Result 0.38x | ILA 14.30BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowILA 15.04BtotalCashFromOperatingActivitiesCapexILA 737.00McapitalExpendituresFree cash flowILA 14.30BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 14.30B | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 15.49BoperatingIncomeTax expenseILA 5.42BincomeTaxExpensePretax incomeILA 15.49BincomeBeforeTaxTax rate35.0%EquityILA 61.66BtotalStockholderEquityDebtILA 62.27BshortLongTermDebtTotalCashILA 155.83BcashInvested capital—Result — | 4.53xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeILA 15.49BoperatingIncomeNet PP&EILA 3.42BpropertyPlantAndEquipmentNetResult 4.53x |
| 2025 | 0.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 3.77BpropertyPlantAndEquipmentNetInventoryILA 0.00Not reported, treated as 0Total assetsILA 872.97BtotalAssetsInventory was not reported and is treated as zero.Result 0.4% | 11.86xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 44.77BtotalRevenueNet PP&EILA 3.77BpropertyPlantAndEquipmentNetResult 11.86x | 1.65xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 904.00McapitalExpendituresD&AILA 548.00MdepreciationAndAmortizationResult 1.65x | ILA 45.52Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 872.97BtotalAssetsGoodwillILA 0.00Not reported, treated as 0IntangiblesILA 0.00Not reported, treated as 0LiabilitiesILA 804.84BtotalLiabTangible bookILA 68.14BShares1,496,839,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result ILA 45.52 | 0.68xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDAILA 16.13BebitdaCapexILA 904.00McapitalExpendituresInterestILA 22.24BinterestExpenseEBITDA − capexILA 15.23BShort-term debt was not reported, so the denominator is interest only.Result 0.68x | ILA 5.27BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowILA 6.18BtotalCashFromOperatingActivitiesCapexILA 904.00McapitalExpendituresFree cash flowILA 5.27BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 5.27B | 4,170.6%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 15.93BoperatingIncomeTax expenseILA 5.67BincomeTaxExpensePretax incomeILA 15.58BincomeBeforeTaxTax rate36.4%EquityILA 68.13BtotalStockholderEquityDebtILA 79.73BshortLongTermDebtTotalCashILA 147.62BcashAndShortTermInvestmentsInvested capitalILA 243.00MResult 4,170.6% | 4.22xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeILA 15.93BoperatingIncomeNet PP&EILA 3.77BpropertyPlantAndEquipmentNetResult 4.22x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
- Free-cash-flow yield is extreme. Market cap and free cash flow may be in different units.
Latest year inputs (2025)
Net PP&E: ILA 3.77B
Inventory: ILA 0.00
Total assets: ILA 872.97B
Goodwill: ILA 0.00
Intangibles: ILA 0.00
Liabilities: ILA 804.84B
Tangible book: ILA 68.14B
Shares: 1,496,839,000
Revenue: ILA 44.77B
Capex: ILA 904.00M
D&A: ILA 548.00M
EBITDA: ILA 16.13B
Interest: ILA 22.24B
Short-term debt: —
Free cash flow: ILA 5.27B
Operating income: ILA 15.93B
Invested capital: ILA 243.00M
Tax rate: 36.4%