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.
Pluxee N.V.
Physical assets are 1.3% of total assets, a light footprint. Capex is 0.90x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 260.5%, 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 18.39x.
Physical asset ratio
1.3%Physical asset ratio · 2025-08-31(Net PP&E + inventory) / total assetsNet PP&E$70.00MpropertyPlantAndEquipmentNetInventory$16.00MinventoryTotal assets$6.40BtotalAssetsResult 1.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
18.39xFixed asset turnover · 2025-08-31Revenue / net PP&ERevenue$1.29BtotalRevenueNet PP&E$70.00MpropertyPlantAndEquipmentNetResult 18.39x
Revenue per dollar of the physical asset base.
Capex / D&A
0.90xCapex / D&A · 2025-08-31Capital expenditures / depreciation and amortizationCapex$98.00McapitalExpendituresD&A$109.00MreconciledDepreciationResult 0.90x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$5.80Tangible book / share · 2025-08-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.40BtotalAssetsGoodwill$799.00MgoodWillIntangibles$515.00MintangibleAssetsLiabilities$5.93BtotalLiabTangible book-$844.00MShares145,608,307commonStockSharesOutstandingResult -$5.80
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$15.75Latest quoteTangible book / share-$5.802025-08-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $15.75.
Fixed-charge coverage
2.30xFixed-charge coverage · 2025-08-31(EBITDA − capex) / (interest + short-term debt)EBITDA$476.00MebitdaCapex$98.00McapitalExpendituresInterest$48.00MinterestExpenseShort-term debt$116.00MshortLongTermDebtEBITDA − capex$378.00MPrincipal due is the current portion of debt.Result 2.30x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
17.9%Free cash flow yield · 2025-08-31Latest free cash flow / current market capFree cash flow$410.00MfreeCashFlowMarket cap$2.29BMarketCapitalizationResult 17.9%
Latest free cash flow divided by current market cap ($2.29B).
ROIC
260.5%ROIC · 2025-08-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$361.00MoperatingIncomeTax expense$100.00MtaxProvisionPretax income$318.00MincomeBeforeTaxTax rate31.4%Equity$369.00MtotalStockholderEquityDebt$1.21BlongTermDebt + shortLongTermDebtCash$1.48BcashInvested capital$95.00MResult 260.5%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 5.16x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2022 | 1.0%Physical asset ratio · 2022-08-31(Net PP&E + inventory) / total assetsNet PP&E$37.00MpropertyPlantAndEquipmentNetInventory$18.00MinventoryTotal assets$5.30BtotalAssetsResult 1.0% | 22.76xFixed asset turnover · 2022-08-31Revenue / net PP&ERevenue$842.00MtotalRevenueNet PP&E$37.00MpropertyPlantAndEquipmentNetResult 22.76x | 1.18xCapex / D&A · 2022-08-31Capital expenditures / depreciation and amortizationCapex$78.00McapitalExpendituresD&A$66.00MreconciledDepreciationResult 1.18x | -$0.77Tangible book / share · 2022-08-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.30BtotalAssetsGoodwill$637.00MgoodWillIntangibles$181.00MintangibleAssetsLiabilities$4.59BtotalLiabTangible book-$114.00MShares147,174,692commonStockSharesOutstandingResult -$0.77 | 0.45xFixed-charge coverage · 2022-08-31(EBITDA − capex) / (interest + short-term debt)EBITDA$303.00MebitdaCapex$78.00McapitalExpendituresInterest$3.00MinterestExpenseShort-term debt$499.00MshortLongTermDebtEBITDA − capex$225.00MPrincipal due is the current portion of debt.Result 0.45x | $143.00MFree cash flow · 2022-08-31Reported free cash flowOperating cash flow$221.00MtotalCashFromOperatingActivitiesCapex$78.00McapitalExpendituresFree cash flow$143.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $143.00M | 203.0%ROIC · 2022-08-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$212.00MoperatingIncomeTax expense$57.00MtaxProvisionPretax income$234.00MincomeBeforeTaxTax rate24.4%Equity$699.00MtotalStockholderEquityDebt$524.00MlongTermDebt + shortLongTermDebtCash$1.14BcashInvested capital$79.00MResult 203.0% | 5.73xEBIT / PP&E · 2022-08-31Operating income / net PP&EOperating income$212.00MoperatingIncomeNet PP&E$37.00MpropertyPlantAndEquipmentNetResult 5.73x |
| 2023 | 1.5%Physical asset ratio · 2023-08-31(Net PP&E + inventory) / total assetsNet PP&E$65.00MpropertyPlantAndEquipmentNetInventory$22.00MinventoryTotal assets$5.67BtotalAssetsResult 1.5% | 16.18xFixed asset turnover · 2023-08-31Revenue / net PP&ERevenue$1.05BtotalRevenueNet PP&E$65.00MpropertyPlantAndEquipmentNetResult 16.18x | 0.57xCapex / D&A · 2023-08-31Capital expenditures / depreciation and amortizationCapex$116.00McapitalExpendituresD&A$203.00MreconciledDepreciationResult 0.57x | -$5.44Tangible book / share · 2023-08-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.67BtotalAssetsGoodwill$627.00MgoodWillIntangibles$220.00MintangibleAssetsLiabilities$5.63BtotalLiabTangible book-$800.00MShares147,174,692commonStockSharesOutstandingResult -$5.44 | 0.29xFixed-charge coverage · 2023-08-31(EBITDA − capex) / (interest + short-term debt)EBITDA$488.00MebitdaCapex$116.00McapitalExpendituresInterest$20.00MinterestExpenseShort-term debt$1.25BshortLongTermDebtEBITDA − capex$372.00MPrincipal due is the current portion of debt.Result 0.29x | $443.00MFree cash flow · 2023-08-31Reported free cash flowOperating cash flow$559.00MtotalCashFromOperatingActivitiesCapex$116.00McapitalExpendituresFree cash flow$443.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $443.00M | —ROIC · 2023-08-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$285.00MoperatingIncomeTax expense$80.00MtaxProvisionPretax income$163.00MincomeBeforeTaxTax rate40.0%Equity$42.00MtotalStockholderEquityDebt$1.26BlongTermDebt + shortLongTermDebtCash$1.63BcashInvested capital—The effective tax rate was above 40% and was capped at 40%.Result — | 4.38xEBIT / PP&E · 2023-08-31Operating income / net PP&EOperating income$285.00MoperatingIncomeNet PP&E$65.00MpropertyPlantAndEquipmentNetResult 4.38x |
| 2024 | 1.7%Physical asset ratio · 2024-08-31(Net PP&E + inventory) / total assetsNet PP&E$76.00MpropertyPlantAndEquipmentNetInventory$25.00MinventoryTotal assets$5.95BtotalAssetsResult 1.7% | 15.92xFixed asset turnover · 2024-08-31Revenue / net PP&ERevenue$1.21BtotalRevenueNet PP&E$76.00MpropertyPlantAndEquipmentNetResult 15.92x | 1.20xCapex / D&A · 2024-08-31Capital expenditures / depreciation and amortizationCapex$116.00McapitalExpendituresD&A$97.00MreconciledDepreciationResult 1.20x | -$5.37Tangible book / share · 2024-08-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.95BtotalAssetsGoodwill$670.00MgoodWillIntangibles$467.00MintangibleAssetsLiabilities$5.59BtotalLiabTangible book-$783.00MShares145,916,009commonStockSharesOutstandingResult -$5.37 | 3.37xFixed-charge coverage · 2024-08-31(EBITDA − capex) / (interest + short-term debt)EBITDA$379.00MebitdaCapex$116.00McapitalExpendituresInterest$52.00MinterestExpenseShort-term debt$26.00MshortLongTermDebtEBITDA − capex$263.00MPrincipal due is the current portion of debt.Result 3.37x | $322.00MFree cash flow · 2024-08-31Reported free cash flowOperating cash flow$438.00MtotalCashFromOperatingActivitiesCapex$116.00McapitalExpendituresFree cash flow$322.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $322.00M | —ROIC · 2024-08-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$341.00MoperatingIncomeTax expense$91.00MtaxProvisionPretax income$230.00MincomeBeforeTaxTax rate39.6%Equity$258.00MtotalStockholderEquityDebt$1.12BlongTermDebt + shortLongTermDebtCash$1.42BcashInvested capital—Result — | 4.49xEBIT / PP&E · 2024-08-31Operating income / net PP&EOperating income$341.00MoperatingIncomeNet PP&E$76.00MpropertyPlantAndEquipmentNetResult 4.49x |
| 2025 | 1.3%Physical asset ratio · 2025-08-31(Net PP&E + inventory) / total assetsNet PP&E$70.00MpropertyPlantAndEquipmentNetInventory$16.00MinventoryTotal assets$6.40BtotalAssetsResult 1.3% | 18.39xFixed asset turnover · 2025-08-31Revenue / net PP&ERevenue$1.29BtotalRevenueNet PP&E$70.00MpropertyPlantAndEquipmentNetResult 18.39x | 0.90xCapex / D&A · 2025-08-31Capital expenditures / depreciation and amortizationCapex$98.00McapitalExpendituresD&A$109.00MreconciledDepreciationResult 0.90x | -$5.80Tangible book / share · 2025-08-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.40BtotalAssetsGoodwill$799.00MgoodWillIntangibles$515.00MintangibleAssetsLiabilities$5.93BtotalLiabTangible book-$844.00MShares145,608,307commonStockSharesOutstandingResult -$5.80 | 2.30xFixed-charge coverage · 2025-08-31(EBITDA − capex) / (interest + short-term debt)EBITDA$476.00MebitdaCapex$98.00McapitalExpendituresInterest$48.00MinterestExpenseShort-term debt$116.00MshortLongTermDebtEBITDA − capex$378.00MPrincipal due is the current portion of debt.Result 2.30x | $410.00MFree cash flow · 2025-08-31Reported free cash flowOperating cash flow$508.00MtotalCashFromOperatingActivitiesCapex$98.00McapitalExpendituresFree cash flow$410.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $410.00M | 260.5%ROIC · 2025-08-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$361.00MoperatingIncomeTax expense$100.00MtaxProvisionPretax income$318.00MincomeBeforeTaxTax rate31.4%Equity$369.00MtotalStockholderEquityDebt$1.21BlongTermDebt + shortLongTermDebtCash$1.48BcashInvested capital$95.00MResult 260.5% | 5.16xEBIT / PP&E · 2025-08-31Operating income / net PP&EOperating income$361.00MoperatingIncomeNet PP&E$70.00MpropertyPlantAndEquipmentNetResult 5.16x |
- 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 the current portion of debt.
Latest year inputs (2025)
Net PP&E: $70.00M
Inventory: $16.00M
Total assets: $6.40B
Goodwill: $799.00M
Intangibles: $515.00M
Liabilities: $5.93B
Tangible book: -$844.00M
Shares: 145,608,307
Revenue: $1.29B
Capex: $98.00M
D&A: $109.00M
EBITDA: $476.00M
Interest: $48.00M
Short-term debt: $116.00M
Free cash flow: $410.00M
Operating income: $361.00M
Invested capital: $95.00M
Tax rate: 31.4%