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.
MLP Saglik Hizmetleri AS
Physical assets are 46.2% of total assets, a mixed footprint. Capex is 1.71x 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 16.0%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 1.49x. Compare it with other names in the same basket.
Physical asset ratio
46.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 36.91BpropertyPlantAndEquipmentNetInventoryTRY 1.11BinventoryTotal assetsTRY 82.20BtotalAssetsResult 46.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
1.49xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 55.09BtotalRevenueNet PP&ETRY 36.91BpropertyPlantAndEquipmentNetResult 1.49x
Revenue per dollar of the physical asset base.
Capex / D&A
1.71xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 7.86BcapitalExpendituresD&ATRY 4.59BreconciledDepreciationResult 1.71x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
TRY 102.51Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 82.20BtotalAssetsGoodwillTRY 968.11MgoodWillIntangiblesTRY 16.18BintangibleAssetsLiabilitiesTRY 45.54BtotalLiabTangible bookTRY 19.51BShares190,351,360commonStockSharesOutstandingResult TRY 102.51
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.76xPrice / tangible bookPrice / tangible book per sharePriceTRY 385.75Latest quoteTangible book / shareTRY 102.512025-12-31Result 3.76x
Price TRY 385.75.
Fixed-charge coverage
1.70xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 19.52BebitdaCapexTRY 7.86BcapitalExpendituresInterestTRY 5.30BinterestExpenseShort-term debtTRY 1.58BshortLongTermDebtEBITDA − capexTRY 11.65BPrincipal due is the current portion of debt.Result 1.70x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
4.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowTRY 3.42BfreeCashFlowMarket capTRY 73.43BMarketCapitalizationResult 4.7%
Latest free cash flow divided by current market cap (TRY 73.43B).
ROIC
16.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 9.88BoperatingIncomeTax expenseTRY 3.45BtaxProvisionPretax incomeTRY 9.63BincomeBeforeTaxTax rate35.8%EquityTRY 34.83BtotalStockholderEquityDebtTRY 12.85BlongTermDebt + shortLongTermDebtCashTRY 8.04BcashInvested capitalTRY 39.64BResult 16.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.27x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 28.3%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 836.76MpropertyPlantEquipmentInventoryTRY 80.20MinventoryTotal assetsTRY 3.24BtotalAssetsResult 28.3% | 3.74xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueTRY 3.13BtotalRevenueNet PP&ETRY 836.76MpropertyPlantEquipmentResult 3.74x | 1.63xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexTRY 311.61McapitalExpendituresD&ATRY 191.68MreconciledDepreciationResult 1.63x | TRY 0.52Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 3.24BtotalAssetsGoodwillTRY 40.22MgoodWillIntangiblesTRY 427.91MintangibleAssetsLiabilitiesTRY 2.66BtotalLiabTangible bookTRY 107.56MShares208,037,000commonStockSharesOutstandingResult TRY 0.52 | -0.17xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 219.30MebitdaCapexTRY 311.61McapitalExpendituresInterestTRY 190.02MinterestExpenseShort-term debtTRY 366.87MshortLongTermDebtEBITDA − capex-TRY 92.31MPrincipal due is the current portion of debt.Result -0.17x | -TRY 320.00KFree cash flow · 2018-12-31Reported free cash flowOperating cash flowTRY 331.59MtotalCashFromOperatingActivitiesCapexTRY 311.61McapitalExpendituresFree cash flow-TRY 320.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -TRY 320.00K | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 205.66MoperatingIncomeTax expense-TRY 58.72MincomeTaxExpensePretax income-TRY 162.40MincomeBeforeTaxTax rate—EquityTRY 474.42MtotalStockholderEquityDebtTRY 1.14BlongTermDebt + shortLongTermDebtCashTRY 223.32McashInvested capitalTRY 1.39BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.25xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeTRY 205.66MoperatingIncomeNet PP&ETRY 836.76MpropertyPlantEquipmentResult 0.25x |
| 2019 | 28.1%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 1.01BpropertyPlantEquipmentInventoryTRY 90.47MinventoryTotal assetsTRY 3.91BtotalAssetsResult 28.1% | 3.66xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueTRY 3.70BtotalRevenueNet PP&ETRY 1.01BpropertyPlantEquipmentResult 3.66x | 0.60xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexTRY 160.45McapitalExpendituresD&ATRY 265.85MreconciledDepreciationResult 0.60x | -TRY 1.50Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 3.91BtotalAssetsGoodwillTRY 40.22MgoodWillIntangiblesTRY 511.26MintangibleAssetsLiabilitiesTRY 3.68BtotalLiabTangible book-TRY 313.07MShares208,037,037commonStockSharesOutstandingResult -TRY 1.50 | 0.57xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 817.18MebitdaCapexTRY 160.45McapitalExpendituresInterestTRY 469.20MinterestExpenseShort-term debtTRY 675.12MshortLongTermDebtEBITDA − capexTRY 656.73MPrincipal due is the current portion of debt.Result 0.57x | TRY 490.07MFree cash flow · 2019-12-31Reported free cash flowOperating cash flowTRY 663.29MtotalCashFromOperatingActivitiesCapexTRY 160.45McapitalExpendituresFree cash flowTRY 490.07MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 490.07M | 22.5%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 480.19MoperatingIncomeTax expenseTRY 25.87MincomeTaxExpensePretax incomeTRY 82.12MincomeBeforeTaxTax rate31.5%EquityTRY 230.00MtotalStockholderEquityDebtTRY 1.53BlongTermDebt + shortLongTermDebtCashTRY 305.66McashInvested capitalTRY 1.46BResult 22.5% | 0.48xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeTRY 480.19MoperatingIncomeNet PP&ETRY 1.01BpropertyPlantEquipmentResult 0.48x |
| 2020 | 30.9%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 1.30BpropertyPlantAndEquipmentNetInventoryTRY 113.48MinventoryTotal assetsTRY 4.57BtotalAssetsResult 30.9% | 3.09xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueTRY 4.01BtotalRevenueNet PP&ETRY 1.30BpropertyPlantAndEquipmentNetResult 3.09x | 0.59xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexTRY 148.00McapitalExpendituresD&ATRY 251.82MreconciledDepreciationResult 0.59x | -TRY 1.58Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 4.57BtotalAssetsGoodwillTRY 38.66MgoodWillIntangiblesTRY 638.19MintangibleAssetsLiabilitiesTRY 4.22BtotalLiabTangible book-TRY 327.99MShares208,037,000commonStockSharesOutstandingResult -TRY 1.58 | 0.60xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 858.50MebitdaCapexTRY 148.00McapitalExpendituresInterestTRY 421.17MinterestExpenseShort-term debtTRY 756.23MshortLongTermDebtEBITDA − capexTRY 710.51MPrincipal due is the current portion of debt.Result 0.60x | TRY 733.23MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowTRY 899.26MtotalCashFromOperatingActivitiesCapexTRY 148.00McapitalExpendituresFree cash flowTRY 733.23MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 733.23M | 26.3%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 636.58MoperatingIncomeTax expenseTRY 62.51MincomeTaxExpensePretax incomeTRY 185.51MincomeBeforeTaxTax rate33.7%EquityTRY 282.39MtotalStockholderEquityDebtTRY 1.70BlongTermDebt + shortLongTermDebtCashTRY 375.00McashInvested capitalTRY 1.61BResult 26.3% | 0.49xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeTRY 636.58MoperatingIncomeNet PP&ETRY 1.30BpropertyPlantAndEquipmentNetResult 0.49x |
| 2021 | 37.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 1.87BpropertyPlantAndEquipmentNetInventoryTRY 285.28MinventoryTotal assetsTRY 5.75BtotalAssetsResult 37.5% | 3.10xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueTRY 5.80BtotalRevenueNet PP&ETRY 1.87BpropertyPlantAndEquipmentNetResult 3.10x | 1.37xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexTRY 458.40McapitalExpendituresD&ATRY 335.74MreconciledDepreciationResult 1.37x | -TRY 0.16Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 5.75BtotalAssetsGoodwillTRY 38.66MgoodWillIntangiblesTRY 663.08MintangibleAssetsLiabilitiesTRY 5.08BtotalLiabTangible book-TRY 32.54MShares208,037,202commonStockSharesOutstandingResult -TRY 0.16 | 0.52xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 1.27BebitdaCapexTRY 458.40McapitalExpendituresInterestTRY 561.30MinterestExpenseShort-term debtTRY 1.01BshortLongTermDebtEBITDA − capexTRY 810.52MPrincipal due is the current portion of debt.Result 0.52x | TRY 1.16BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowTRY 1.65BtotalCashFromOperatingActivitiesCapexTRY 458.40McapitalExpendituresFree cash flowTRY 1.16BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 1.16B | 61.3%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 952.37MoperatingIncomeTax expenseTRY 16.68MincomeTaxExpensePretax incomeTRY 371.89MincomeBeforeTaxTax rate4.5%EquityTRY 538.64MtotalStockholderEquityDebtTRY 1.63BlongTermDebt + shortLongTermDebtCashTRY 680.24McashInvested capitalTRY 1.48BResult 61.3% | 0.51xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeTRY 952.37MoperatingIncomeNet PP&ETRY 1.87BpropertyPlantAndEquipmentNetResult 0.51x |
| 2022 | 41.9%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 2.87BpropertyPlantAndEquipmentNetInventoryTRY 660.88MinventoryTotal assetsTRY 8.44BtotalAssetsResult 41.9% | 3.42xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueTRY 9.84BtotalRevenueNet PP&ETRY 2.87BpropertyPlantAndEquipmentNetResult 3.42x | 1.53xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexTRY 680.33McapitalExpendituresD&ATRY 445.48MreconciledDepreciationResult 1.53x | TRY 3.78Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 8.44BtotalAssetsGoodwillTRY 33.04MgoodWillIntangiblesTRY 986.75MintangibleAssetsLiabilitiesTRY 6.63BtotalLiabTangible bookTRY 787.20MShares208,245,239commonStockSharesOutstandingResult TRY 3.78 | 0.83xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 2.30BebitdaCapexTRY 680.33McapitalExpendituresInterestTRY 551.12MinterestExpenseShort-term debtTRY 1.41BshortLongTermDebtEBITDA − capexTRY 1.62BPrincipal due is the current portion of debt.Result 0.83x | TRY 233.28MFree cash flow · 2022-12-31Reported free cash flowOperating cash flowTRY 1.97BtotalCashFromOperatingActivitiesCapexTRY 680.33McapitalExpendituresFree cash flowTRY 233.28MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 233.28M | 63.9%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 1.72BoperatingIncomeTax expense-TRY 370.26MincomeTaxExpensePretax incomeTRY 1.30BincomeBeforeTaxTax rate0.0%EquityTRY 1.81BtotalStockholderEquityDebtTRY 1.65BlongTermDebt + shortLongTermDebtCashTRY 765.88McashInvested capitalTRY 2.69BResult 63.9% | 0.60xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeTRY 1.72BoperatingIncomeNet PP&ETRY 2.87BpropertyPlantAndEquipmentNetResult 0.60x |
| 2023 | 51.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 13.42BpropertyPlantAndEquipmentNetInventoryTRY 1.08BinventoryTotal assetsTRY 28.42BtotalAssetsResult 51.0% | 2.41xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueTRY 32.41BtotalRevenueNet PP&ETRY 13.42BpropertyPlantAndEquipmentNetResult 2.41x | 0.89xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexTRY 1.98BcapitalExpendituresD&ATRY 2.23BreconciledDepreciationResult 0.89x | TRY 40.38Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 28.42BtotalAssetsGoodwillTRY 512.28MgoodWillIntangiblesTRY 3.98BintangibleAssetsLiabilitiesTRY 15.52BtotalLiabTangible bookTRY 8.40BShares208,037,000commonStockSharesOutstandingResult TRY 40.38 | 2.33xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 13.73BebitdaCapexTRY 1.98BcapitalExpendituresInterestTRY 2.37BinterestExpenseShort-term debtTRY 2.67BshortLongTermDebtEBITDA − capexTRY 11.75BPrincipal due is the current portion of debt.Result 2.33x | TRY 4.79BFree cash flow · 2023-12-31Reported free cash flowOperating cash flowTRY 6.77BtotalCashFromOperatingActivitiesCapexTRY 1.98BcapitalExpendituresFree cash flowTRY 4.79BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 4.79B | 32.8%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 5.93BoperatingIncomeTax expenseTRY 2.27BtaxProvisionPretax incomeTRY 9.13BincomeBeforeTaxTax rate24.9%EquityTRY 12.68BtotalStockholderEquityDebtTRY 3.74BlongTermDebt + shortLongTermDebtCashTRY 2.81BcashInvested capitalTRY 13.60BResult 32.8% | 0.44xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeTRY 5.93BoperatingIncomeNet PP&ETRY 13.42BpropertyPlantAndEquipmentNetResult 0.44x |
| 2024 | 52.3%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 23.71BpropertyPlantAndEquipmentNetInventoryTRY 1.00BinventoryTotal assetsTRY 47.29BtotalAssetsResult 52.3% | 2.19xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueTRY 51.95BtotalRevenueNet PP&ETRY 23.71BpropertyPlantAndEquipmentNetResult 2.19x | 1.30xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexTRY 4.60BcapitalExpendituresD&ATRY 3.55BreconciledDepreciationResult 1.30x | TRY 75.06Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 47.29BtotalAssetsGoodwillTRY 739.62MgoodWillIntangiblesTRY 8.46BintangibleAssetsLiabilitiesTRY 23.76BtotalLiabTangible bookTRY 14.34BShares191,012,202commonStockSharesOutstandingResult TRY 75.06 | 1.78xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 17.55BebitdaCapexTRY 4.60BcapitalExpendituresInterestTRY 3.86BinterestExpenseShort-term debtTRY 3.39BshortLongTermDebtEBITDA − capexTRY 12.95BPrincipal due is the current portion of debt.Result 1.78x | TRY 5.40BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowTRY 10.00BtotalCashFromOperatingActivitiesCapexTRY 4.60BcapitalExpendituresFree cash flowTRY 5.40BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 5.40B | 29.6%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 9.23BoperatingIncomeTax expenseTRY 2.56BtaxProvisionPretax incomeTRY 10.14BincomeBeforeTaxTax rate25.3%EquityTRY 22.63BtotalStockholderEquityDebtTRY 3.39BlongTermDebt + shortLongTermDebtCashTRY 2.73BcashInvested capitalTRY 23.29BResult 29.6% | 0.39xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeTRY 9.23BoperatingIncomeNet PP&ETRY 23.71BpropertyPlantAndEquipmentNetResult 0.39x |
| 2025 | 46.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&ETRY 36.91BpropertyPlantAndEquipmentNetInventoryTRY 1.11BinventoryTotal assetsTRY 82.20BtotalAssetsResult 46.2% | 1.49xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueTRY 55.09BtotalRevenueNet PP&ETRY 36.91BpropertyPlantAndEquipmentNetResult 1.49x | 1.71xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexTRY 7.86BcapitalExpendituresD&ATRY 4.59BreconciledDepreciationResult 1.71x | TRY 102.51Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsTRY 82.20BtotalAssetsGoodwillTRY 968.11MgoodWillIntangiblesTRY 16.18BintangibleAssetsLiabilitiesTRY 45.54BtotalLiabTangible bookTRY 19.51BShares190,351,360commonStockSharesOutstandingResult TRY 102.51 | 1.70xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDATRY 19.52BebitdaCapexTRY 7.86BcapitalExpendituresInterestTRY 5.30BinterestExpenseShort-term debtTRY 1.58BshortLongTermDebtEBITDA − capexTRY 11.65BPrincipal due is the current portion of debt.Result 1.70x | TRY 3.42BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowTRY 11.29BtotalCashFromOperatingActivitiesCapexTRY 7.86BcapitalExpendituresFree cash flowTRY 3.42BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result TRY 3.42B | 16.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeTRY 9.88BoperatingIncomeTax expenseTRY 3.45BtaxProvisionPretax incomeTRY 9.63BincomeBeforeTaxTax rate35.8%EquityTRY 34.83BtotalStockholderEquityDebtTRY 12.85BlongTermDebt + shortLongTermDebtCashTRY 8.04BcashInvested capitalTRY 39.64BResult 16.0% | 0.27xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeTRY 9.88BoperatingIncomeNet PP&ETRY 36.91BpropertyPlantAndEquipmentNetResult 0.27x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: TRY 36.91B
Inventory: TRY 1.11B
Total assets: TRY 82.20B
Goodwill: TRY 968.11M
Intangibles: TRY 16.18B
Liabilities: TRY 45.54B
Tangible book: TRY 19.51B
Shares: 190,351,360
Revenue: TRY 55.09B
Capex: TRY 7.86B
D&A: TRY 4.59B
EBITDA: TRY 19.52B
Interest: TRY 5.30B
Short-term debt: TRY 1.58B
Free cash flow: TRY 3.42B
Operating income: TRY 9.88B
Invested capital: TRY 39.64B
Tax rate: 35.8%