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.
Reynolds Consumer Products Inc
Physical assets are 30.5% of total assets, a mixed footprint. Capex is 1.19x 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 9.7%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 4.04x. Compare it with other names in the same basket.
Physical asset ratio
30.5%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$921.00MpropertyPlantAndEquipmentNetInventory$584.00MinventoryTotal assets$4.94BtotalAssetsResult 30.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.04xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$3.72BtotalRevenueNet PP&E$921.00MpropertyPlantAndEquipmentNetResult 4.04x
Revenue per dollar of the physical asset base.
Capex / D&A
1.19xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$161.00McapitalExpendituresD&A$135.00MdepreciationAndAmortizationResult 1.19x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$2.78Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.94BtotalAssetsGoodwill$1.90BgoodWillIntangibles$943.00MintangibleAssetsLiabilities$2.68BtotalLiabTangible book-$585.00MShares210,400,000commonStockSharesOutstandingResult -$2.78
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$23.36Latest quoteTangible book / share-$2.782025-12-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $23.36.
Fixed-charge coverage
4.16xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$614.00MebitdaCapex$161.00McapitalExpendituresInterest$86.00MinterestExpenseShort-term debt$23.00MshortTermDebtEBITDA − capex$453.00MPrincipal due is short-term debt.Result 4.16x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
6.5%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$316.00MfreeCashFlowMarket cap$4.86BMarketCapitalizationResult 6.5%
Latest free cash flow divided by current market cap ($4.86B).
ROIC
9.7%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$492.00MoperatingIncomeTax expense$92.00MincomeTaxExpensePretax income$393.00MincomeBeforeTaxTax rate23.4%Equity$2.25BtotalStockholderEquityDebt$1.77BshortLongTermDebtTotalCash$147.00McashInvested capital$3.87BResult 9.7%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.53x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 13.9%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$464.00MpropertyPlantEquipmentInventory$429.00MinventoryTotal assets$6.42BtotalAssetsResult 13.9% | 6.77xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$3.14BtotalRevenueNet PP&E$464.00MpropertyPlantEquipmentResult 6.77x | 0.94xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$82.00McapitalExpendituresD&A$87.00MdepreciationAndAmortizationResult 0.94x | -$20.03Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.42BtotalAssetsGoodwill$1.88BgoodWillIntangibles$1.16BintangibleAssetsLiabilities$7.45BtotalLiabTangible book-$4.06BShares202,751,471commonStockSharesOutstandingResult -$20.03 | 0.91xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$651.00MebitdaCapex$82.00McapitalExpendituresInterest$354.00MinterestExpenseShort-term debt$271.00MshortTermDebtEBITDA − capex$569.00MPrincipal due is short-term debt.Result 0.91x | $448.00MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$530.00MtotalCashFromOperatingActivitiesCapex$82.00McapitalExpendituresFree cash flow$448.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $448.00M | 7.9%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$513.00MoperatingIncomeTax expense$57.00MincomeTaxExpensePretax income$233.00MincomeBeforeTaxTax rate24.5%Equity-$1.03BtotalStockholderEquityDebt$5.98BshortLongTermDebtTotalCash$23.00McashInvested capital$4.93BResult 7.9% | 1.11xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$513.00MoperatingIncomeNet PP&E$464.00MpropertyPlantEquipmentResult 1.11x |
| 2019 | 23.6%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$579.00MpropertyPlantEquipmentInventory$418.00MinventoryTotal assets$4.22BtotalAssetsResult 23.6% | 5.24xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$3.03BtotalRevenueNet PP&E$579.00MpropertyPlantEquipmentResult 5.24x | 1.20xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$109.00McapitalExpendituresD&A$91.00MdepreciationAndAmortizationResult 1.20x | -$18.22Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.22BtotalAssetsGoodwill$1.88BgoodWillIntangibles$1.12BintangibleAssetsLiabilities$5.04BtotalLiabTangible book-$3.82BShares209,700,500commonStockSharesOutstandingResult -$18.22 | 2.14xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$601.00MebitdaCapex$109.00McapitalExpendituresInterest$209.00MinterestExpenseShort-term debt$21.00MshortLongTermDebtEBITDA − capex$492.00MPrincipal due is the current portion of debt.Result 2.14x | $294.00MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$403.00MtotalCashFromOperatingActivitiesCapex$109.00McapitalExpendituresFree cash flow$294.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $294.00M | 11.4%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$510.00MoperatingIncomeTax expense$76.00MincomeTaxExpensePretax income$301.00MincomeBeforeTaxTax rate25.2%Equity-$818.00MtotalStockholderEquityDebt$4.27BshortLongTermDebtTotalCash$102.00McashInvested capital$3.35BResult 11.4% | 0.88xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$510.00MoperatingIncomeNet PP&E$579.00MpropertyPlantEquipmentResult 0.88x |
| 2020 | 22.9%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$673.00MpropertyPlantAndEquipmentNetInventory$419.00MinventoryTotal assets$4.77BtotalAssetsResult 22.9% | 4.85xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$3.26BtotalRevenueNet PP&E$673.00MpropertyPlantAndEquipmentNetResult 4.85x | 1.44xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$143.00McapitalExpendituresD&A$99.00MdepreciationAndAmortizationResult 1.44x | -$6.63Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.77BtotalAssetsGoodwill$1.88BgoodWillIntangibles$1.09BintangibleAssetsLiabilities$3.16BtotalLiabTangible book-$1.36BShares204,500,000commonStockSharesOutstandingResult -$6.63 | 5.66xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$681.00MebitdaCapex$143.00McapitalExpendituresInterest$70.00MinterestExpenseShort-term debt$25.00MshortLongTermDebtEBITDA − capex$538.00MPrincipal due is the current portion of debt.Result 5.66x | $176.00MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$319.00MtotalCashFromOperatingActivitiesCapex$143.00McapitalExpendituresFree cash flow$176.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $176.00M | 11.5%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$586.00MoperatingIncomeTax expense$153.00MincomeTaxExpensePretax income$516.00MincomeBeforeTaxTax rate29.7%Equity$1.62BtotalStockholderEquityDebt$2.30BshortLongTermDebtTotalCash$312.00McashInvested capital$3.60BResult 11.5% | 0.87xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$586.00MoperatingIncomeNet PP&E$673.00MpropertyPlantAndEquipmentNetResult 0.87x |
| 2021 | 27.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$732.00MpropertyPlantAndEquipmentNetInventory$583.00MinventoryTotal assets$4.81BtotalAssetsResult 27.3% | 4.86xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$3.56BtotalRevenueNet PP&E$732.00MpropertyPlantAndEquipmentNetResult 4.86x | 1.29xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$141.00McapitalExpendituresD&A$109.00MdepreciationAndAmortizationResult 1.29x | -$5.64Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.81BtotalAssetsGoodwill$1.88BgoodWillIntangibles$1.06BintangibleAssetsLiabilities$3.06BtotalLiabTangible book-$1.18BShares209,800,000commonStockSharesOutstandingResult -$5.64 | 6.05xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$583.00MebitdaCapex$141.00McapitalExpendituresInterest$48.00MinterestExpenseShort-term debt$25.00MshortLongTermDebtEBITDA − capex$442.00MPrincipal due is the current portion of debt.Result 6.05x | $169.00MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$310.00MtotalCashFromOperatingActivitiesCapex$141.00McapitalExpendituresFree cash flow$169.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $169.00M | 9.6%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$478.00MoperatingIncomeTax expense$106.00MincomeTaxExpensePretax income$430.00MincomeBeforeTaxTax rate24.7%Equity$1.76BtotalStockholderEquityDebt$2.17BshortLongTermDebtTotalCash$164.00McashInvested capital$3.76BResult 9.6% | 0.65xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$478.00MoperatingIncomeNet PP&E$732.00MpropertyPlantAndEquipmentNetResult 0.65x |
| 2022 | 30.6%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$787.00MpropertyPlantAndEquipmentNetInventory$722.00MinventoryTotal assets$4.93BtotalAssetsResult 30.6% | 4.85xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$3.82BtotalRevenueNet PP&E$787.00MpropertyPlantAndEquipmentNetResult 4.85x | 1.09xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$128.00McapitalExpendituresD&A$117.00MdepreciationAndAmortizationResult 1.09x | -$4.96Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.93BtotalAssetsGoodwill$1.88BgoodWillIntangibles$1.03BintangibleAssetsLiabilities$3.06BtotalLiabTangible book-$1.04BShares209,900,000commonStockSharesOutstandingResult -$4.96 | 4.01xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$533.00MebitdaCapex$128.00McapitalExpendituresInterest$76.00MinterestExpenseShort-term debt$25.00MshortLongTermDebtEBITDA − capex$405.00MPrincipal due is the current portion of debt.Result 4.01x | $91.00MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$219.00MtotalCashFromOperatingActivitiesCapex$128.00McapitalExpendituresFree cash flow$91.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $91.00M | 7.9%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$414.00MoperatingIncomeTax expense$80.00MincomeTaxExpensePretax income$338.00MincomeBeforeTaxTax rate23.7%Equity$1.87BtotalStockholderEquityDebt$2.17BshortLongTermDebtTotalCash$38.00McashInvested capital$4.00BResult 7.9% | 0.53xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$414.00MoperatingIncomeNet PP&E$787.00MpropertyPlantAndEquipmentNetResult 0.53x |
| 2023 | 27.2%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$788.00MpropertyPlantAndEquipmentNetInventory$524.00MinventoryTotal assets$4.83BtotalAssetsResult 27.2% | 4.77xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$3.76BtotalRevenueNet PP&E$788.00MpropertyPlantAndEquipmentNetResult 4.77x | 0.84xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$104.00McapitalExpendituresD&A$124.00MdepreciationAndAmortizationResult 0.84x | -$4.35Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.83BtotalAssetsGoodwill$1.90BgoodWillIntangibles$1.00BintangibleAssetsLiabilities$2.85BtotalLiabTangible book-$913.00MShares210,000,000commonStockSharesOutstandingResult -$4.35 | 3.00xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$512.00MebitdaCapex$104.00McapitalExpendituresInterest$119.00MinterestExpenseShort-term debt$17.00MshortTermDebtEBITDA − capex$408.00MPrincipal due is short-term debt.Result 3.00x | $540.00MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$644.00MtotalCashFromOperatingActivitiesCapex$104.00McapitalExpendituresFree cash flow$540.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $540.00M | 13.6%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$512.00MoperatingIncomeTax expense-$95.00MincomeTaxExpensePretax income$393.00MincomeBeforeTaxTax rate0.0%Equity$1.98BtotalStockholderEquityDebt$1.91BshortLongTermDebtTotalCash$115.00McashInvested capital$3.77BResult 13.6% | 0.65xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$512.00MoperatingIncomeNet PP&E$788.00MpropertyPlantAndEquipmentNetResult 0.65x |
| 2024 | 29.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$848.00MpropertyPlantAndEquipmentNetInventory$567.00MinventoryTotal assets$4.87BtotalAssetsResult 29.0% | 4.36xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$3.70BtotalRevenueNet PP&E$848.00MpropertyPlantAndEquipmentNetResult 4.36x | 0.93xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$120.00McapitalExpendituresD&A$129.00MdepreciationAndAmortizationResult 0.93x | -$3.45Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.87BtotalAssetsGoodwill$1.90BgoodWillIntangibles$972.00MintangibleAssetsLiabilities$2.73BtotalLiabTangible book-$725.00MShares210,400,000commonStockSharesOutstandingResult -$3.45 | 4.93xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$707.00MebitdaCapex$120.00McapitalExpendituresInterest$98.00MinterestExpenseShort-term debt$21.00MshortTermDebtEBITDA − capex$587.00MPrincipal due is short-term debt.Result 4.93x | $369.00MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$489.00MtotalCashFromOperatingActivitiesCapex$120.00McapitalExpendituresFree cash flow$369.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $369.00M | 11.3%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$549.00MoperatingIncomeTax expense$99.00MincomeTaxExpensePretax income$451.00MincomeBeforeTaxTax rate22.0%Equity$2.14BtotalStockholderEquityDebt$1.79BshortLongTermDebtTotalCash$137.00McashInvested capital$3.80BResult 11.3% | 0.65xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$549.00MoperatingIncomeNet PP&E$848.00MpropertyPlantAndEquipmentNetResult 0.65x |
| 2025 | 30.5%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$921.00MpropertyPlantAndEquipmentNetInventory$584.00MinventoryTotal assets$4.94BtotalAssetsResult 30.5% | 4.04xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$3.72BtotalRevenueNet PP&E$921.00MpropertyPlantAndEquipmentNetResult 4.04x | 1.19xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$161.00McapitalExpendituresD&A$135.00MdepreciationAndAmortizationResult 1.19x | -$2.78Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.94BtotalAssetsGoodwill$1.90BgoodWillIntangibles$943.00MintangibleAssetsLiabilities$2.68BtotalLiabTangible book-$585.00MShares210,400,000commonStockSharesOutstandingResult -$2.78 | 4.16xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$614.00MebitdaCapex$161.00McapitalExpendituresInterest$86.00MinterestExpenseShort-term debt$23.00MshortTermDebtEBITDA − capex$453.00MPrincipal due is short-term debt.Result 4.16x | $316.00MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$477.00MtotalCashFromOperatingActivitiesCapex$161.00McapitalExpendituresFree cash flow$316.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $316.00M | 9.7%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$492.00MoperatingIncomeTax expense$92.00MincomeTaxExpensePretax income$393.00MincomeBeforeTaxTax rate23.4%Equity$2.25BtotalStockholderEquityDebt$1.77BshortLongTermDebtTotalCash$147.00McashInvested capital$3.87BResult 9.7% | 0.53xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$492.00MoperatingIncomeNet PP&E$921.00MpropertyPlantAndEquipmentNetResult 0.53x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $921.00M
Inventory: $584.00M
Total assets: $4.94B
Goodwill: $1.90B
Intangibles: $943.00M
Liabilities: $2.68B
Tangible book: -$585.00M
Shares: 210,400,000
Revenue: $3.72B
Capex: $161.00M
D&A: $135.00M
EBITDA: $614.00M
Interest: $86.00M
Short-term debt: $23.00M
Free cash flow: $316.00M
Operating income: $492.00M
Invested capital: $3.87B
Tax rate: 23.4%