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.
STRACO CORPORATION LIMITED
Physical assets are 42.0% of total assets, a mixed footprint. Capex is 0.77x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 18.9%, above an 8% cost-of-capital hurdle. That coverage ratio uses interest only, because short-term debt was not on the balance sheet.
Fixed-asset turnover is 0.51x. Compare it with other names in the same basket.
Physical asset ratio
42.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$147.20MpropertyPlantAndEquipmentNetInventory$2.54MinventoryTotal assets$356.12MtotalAssetsResult 42.0%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.51xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$74.38MtotalRevenueNet PP&E$147.20MpropertyPlantAndEquipmentNetResult 0.51x
Revenue per dollar of the physical asset base.
Capex / D&A
0.77xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$7.51McapitalExpendituresD&A$9.79MreconciledDepreciationResult 0.77x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.33Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$356.12MtotalAssetsGoodwill$0.00goodWillIntangibles$47.89KintangibleAssetsLiabilities$71.16MtotalLiabTangible book$284.91MShares855,214,580commonStockSharesOutstandingResult $0.33
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.87xPrice / tangible bookPrice / tangible book per sharePrice$0.29Latest quoteTangible book / share$0.332025-12-31Result 0.87x
Price $0.29.
Fixed-charge coverage
24.38xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDA$38.98MebitdaCapex$7.51McapitalExpendituresInterest$1.29MinterestExpenseEBITDA − capex$31.47MShort-term debt was not reported, so the denominator is interest only.Result 24.38x
EBITDA minus capex, divided by interest only.
FCF yield
7.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$19.77MfreeCashFlowMarket cap$252.36MMarketCapitalizationResult 7.8%
Latest free cash flow divided by current market cap ($252.36M).
ROIC
18.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$24.33MoperatingIncomeTax expense$8.68MtaxProvisionPretax income$27.90MincomeBeforeTaxTax rate31.1%Equity$272.94MtotalStockholderEquityDebt$2.90MlongTermDebt + shortLongTermDebtCash$187.14McashInvested capital$88.70MResult 18.9%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.17x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 31.0%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$113.54MpropertyPlantEquipmentInventory$2.20MinventoryTotal assets$372.98MtotalAssetsResult 31.0% | 1.04xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$117.88MtotalRevenueNet PP&E$113.54MpropertyPlantEquipmentResult 1.04x | 0.44xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$4.23McapitalExpendituresD&A$9.64MreconciledDepreciationResult 0.44x | $0.33Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$372.98MtotalAssetsGoodwill$1.42MgoodWillIntangibles$1.98MintangibleAssetsLiabilities$89.54MtotalLiabTangible book$280.05MShares860,496,880commonStockSharesOutstandingResult $0.33 | 5.23xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$73.33MebitdaCapex$4.23McapitalExpendituresInterest$1.23MinterestExpenseShort-term debt$12.00MshortTermDebtEBITDA − capex$69.10MPrincipal due is short-term debt.Result 5.23x | $47.20MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$51.43MtotalCashFromOperatingActivitiesCapex$4.23McapitalExpendituresFree cash flow$47.20MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $47.20M | 37.6%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$63.70MoperatingIncomeTax expense$18.34MincomeTaxExpensePretax income$62.47MincomeBeforeTaxTax rate29.3%Equity$283.44MtotalStockholderEquityDebt$37.90MlongTermDebt + shortLongTermDebtCash$201.70McashInvested capital$119.65MResult 37.6% | 0.56xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$63.70MoperatingIncomeNet PP&E$113.54MpropertyPlantEquipmentResult 0.56x |
| 2019 | 44.2%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$178.57MpropertyPlantEquipmentInventory$2.25MinventoryTotal assets$409.08MtotalAssetsResult 44.2% | 0.61xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$108.83MtotalRevenueNet PP&E$178.57MpropertyPlantEquipmentResult 0.61x | 0.53xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$5.65McapitalExpendituresD&A$10.65MreconciledDepreciationResult 0.53x | $0.33Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$409.08MtotalAssetsGoodwill$1.42MgoodWillIntangibles$74.62KintangibleAssetsLiabilities$120.66MtotalLiabTangible book$286.93MShares862,679,580commonStockSharesOutstandingResult $0.33 | 4.40xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$69.76MebitdaCapex$5.65McapitalExpendituresInterest$2.57MinterestExpenseShort-term debt$12.00MshortTermDebtEBITDA − capex$64.12MPrincipal due is short-term debt.Result 4.40x | $42.90MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$50.17MtotalCashFromOperatingActivitiesCapex$5.65McapitalExpendituresFree cash flow$42.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $42.90M | 37.1%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$59.11MoperatingIncomeTax expense$16.21MincomeTaxExpensePretax income$56.54MincomeBeforeTaxTax rate28.7%Equity$288.42MtotalStockholderEquityDebt$25.90MlongTermDebt + shortLongTermDebtCash$200.55McashAndShortTermInvestmentsInvested capital$113.77MResult 37.1% | 0.33xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$59.11MoperatingIncomeNet PP&E$178.57MpropertyPlantEquipmentResult 0.33x |
| 2020 | 46.9%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$177.09MpropertyPlantEquipmentInventory$2.20MinventoryTotal assets$382.21MtotalAssetsResult 46.9% | 0.17xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$29.56MtotalRevenueNet PP&E$177.09MpropertyPlantEquipmentResult 0.17x | 0.54xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$5.57McapitalExpendituresD&A$10.26MreconciledDepreciationResult 0.54x | $0.31Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$382.21MtotalAssetsGoodwill$1.42MgoodWillIntangibles$1.49MintangibleAssetsLiabilities$112.68MtotalLiabTangible book$266.63MShares862,679,580commonStockSharesOutstandingResult $0.31 | 0.27xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$11.43MebitdaCapex$5.57McapitalExpendituresInterest$2.04MinterestExpenseShort-term debt$20.00MshortLongTermDebtEBITDA − capex$5.86MPrincipal due is the current portion of debt.Result 0.27x | -$5.08MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$496.41KtotalCashFromOperatingActivitiesCapex$5.57McapitalExpendituresFree cash flow-$5.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$5.08M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.17MoperatingIncomeTax expense$801.79KincomeTaxExpensePretax income-$870.00KincomeBeforeTaxTax rate—Equity$269.54MtotalStockholderEquityDebt$22.90MlongTermDebt + shortLongTermDebtCash$177.67McashInvested capital$114.76MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.01xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$1.17MoperatingIncomeNet PP&E$177.09MpropertyPlantEquipmentResult 0.01x |
| 2021 | 46.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$171.01MpropertyPlantEquipmentInventory$2.24MinventoryTotal assets$376.91MtotalAssetsResult 46.0% | 0.25xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$41.91MtotalRevenueNet PP&E$171.01MpropertyPlantEquipmentResult 0.25x | 0.36xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$4.06McapitalExpendituresD&A$11.35MreconciledDepreciationResult 0.36x | $0.34Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$376.91MtotalAssetsGoodwill$1.42MgoodWillIntangibles$65.03KintangibleAssetsLiabilities$87.61MtotalLiabTangible book$287.82MShares854,965,680commonStockSharesOutstandingResult $0.34 | 9.50xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$29.62MebitdaCapex$4.06McapitalExpendituresInterest$1.72MinterestExpenseShort-term debt$968.48KshortLongTermDebtEBITDA − capex$25.56MPrincipal due is the current portion of debt.Result 9.50x | $16.20MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$20.27MtotalCashFromOperatingActivitiesCapex$4.06McapitalExpendituresFree cash flow$16.20MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $16.20M | 3.6%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.36MoperatingIncomeTax expense$4.41MincomeTaxExpensePretax income$16.55MincomeBeforeTaxTax rate26.7%Equity$278.98MtotalStockholderEquityDebt$8.60MlongTermDebt + shortLongTermDebtCash$178.49McashInvested capital$109.09MResult 3.6% | 0.03xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$5.36MoperatingIncomeNet PP&E$171.01MpropertyPlantEquipmentResult 0.03x |
| 2022 | 47.8%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$159.95MpropertyPlantAndEquipmentNetInventory$2.01MinventoryTotal assets$338.89MtotalAssetsResult 47.8% | 0.18xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$28.19MtotalRevenueNet PP&E$159.95MpropertyPlantAndEquipmentNetResult 0.18x | 0.27xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$2.56McapitalExpendituresD&A$9.63MreconciledDepreciationResult 0.27x | $0.30Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$338.89MtotalAssetsGoodwill$1.42MgoodWillIntangibles$51.51KintangibleAssetsLiabilities$79.58MtotalLiabTangible book$257.84MShares854,965,680commonStockSharesOutstandingResult $0.30 | -1.19xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$433.36KebitdaCapex$2.56McapitalExpendituresInterest$1.53MinterestExpenseShort-term debt$988.03KshortLongTermDebtEBITDA − capex-$2.99MPrincipal due is the current portion of debt.Result -1.19x | -$5.54MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$2.99MtotalCashFromOperatingActivitiesCapex$2.56McapitalExpendituresFree cash flow-$5.54MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$5.54M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$10.50MoperatingIncomeTax expense-$318.37KincomeTaxExpensePretax income-$11.59MincomeBeforeTaxTax rate—Equity$249.85MtotalStockholderEquityDebt$8.03MlongTermDebt + shortLongTermDebtCash$151.68McashInvested capital$106.20MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.07xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$10.50MoperatingIncomeNet PP&E$159.95MpropertyPlantAndEquipmentNetResult -0.07x |
| 2023 | 44.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$153.77MpropertyPlantAndEquipmentNetInventory$2.33MinventoryTotal assets$350.79MtotalAssetsResult 44.5% | 0.53xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$82.14MtotalRevenueNet PP&E$153.77MpropertyPlantAndEquipmentNetResult 0.53x | 0.44xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$4.08McapitalExpendituresD&A$9.37MreconciledDepreciationResult 0.44x | $0.32Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$350.79MtotalAssetsGoodwill$1.42MgoodWillIntangibles$69.63KintangibleAssetsLiabilities$78.40MtotalLiabTangible book$270.90MShares855,465,680commonStockSharesOutstandingResult $0.32 | 16.91xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$45.42MebitdaCapex$4.08McapitalExpendituresInterest$1.44MinterestExpenseShort-term debt$1.01MshortLongTermDebtEBITDA − capex$41.34MPrincipal due is the current portion of debt.Result 16.91x | $33.05MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$37.13MtotalCashFromOperatingActivitiesCapex$4.08McapitalExpendituresFree cash flow$33.05MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $33.05M | 30.0%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$37.63MoperatingIncomeTax expense$7.33MtaxProvisionPretax income$34.62MincomeBeforeTaxTax rate21.2%Equity$262.85MtotalStockholderEquityDebt$7.05MlongTermDebt + shortLongTermDebtCash$170.92McashInvested capital$98.98MResult 30.0% | 0.24xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$37.63MoperatingIncomeNet PP&E$153.77MpropertyPlantAndEquipmentNetResult 0.24x |
| 2024 | 42.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$149.20MpropertyPlantAndEquipmentNetInventory$2.51MinventoryTotal assets$360.91MtotalAssetsResult 42.0% | 0.55xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$81.50MtotalRevenueNet PP&E$149.20MpropertyPlantAndEquipmentNetResult 0.55x | 0.41xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$3.68McapitalExpendituresD&A$9.06MreconciledDepreciationResult 0.41x | $0.33Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$360.91MtotalAssetsGoodwill$0.00goodWillIntangibles$53.52KintangibleAssetsLiabilities$75.72MtotalLiabTangible book$285.14MShares855,465,680commonStockSharesOutstandingResult $0.33 | 17.93xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$46.65MebitdaCapex$3.68McapitalExpendituresInterest$1.37MinterestExpenseShort-term debt$1.03MshortLongTermDebtEBITDA − capex$42.97MPrincipal due is the current portion of debt.Result 17.93x | $33.59MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$37.27MtotalCashFromOperatingActivitiesCapex$3.68McapitalExpendituresFree cash flow$33.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $33.59M | 27.3%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$30.90MoperatingIncomeTax expense$6.91MtaxProvisionPretax income$36.22MincomeBeforeTaxTax rate19.1%Equity$273.59MtotalStockholderEquityDebt$6.04MlongTermDebt + shortLongTermDebtCash$188.17McashInvested capital$91.46MResult 27.3% | 0.21xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$30.90MoperatingIncomeNet PP&E$149.20MpropertyPlantAndEquipmentNetResult 0.21x |
| 2025 | 42.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$147.20MpropertyPlantAndEquipmentNetInventory$2.54MinventoryTotal assets$356.12MtotalAssetsResult 42.0% | 0.51xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$74.38MtotalRevenueNet PP&E$147.20MpropertyPlantAndEquipmentNetResult 0.51x | 0.77xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$7.51McapitalExpendituresD&A$9.79MreconciledDepreciationResult 0.77x | $0.33Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$356.12MtotalAssetsGoodwill$0.00goodWillIntangibles$47.89KintangibleAssetsLiabilities$71.16MtotalLiabTangible book$284.91MShares855,214,580commonStockSharesOutstandingResult $0.33 | 24.38xFixed-charge coverage · 2025-12-31(EBITDA − capex) / interestEBITDA$38.98MebitdaCapex$7.51McapitalExpendituresInterest$1.29MinterestExpenseEBITDA − capex$31.47MShort-term debt was not reported, so the denominator is interest only.Result 24.38x | $19.77MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$27.28MtotalCashFromOperatingActivitiesCapex$7.51McapitalExpendituresFree cash flow$19.77MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $19.77M | 18.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$24.33MoperatingIncomeTax expense$8.68MtaxProvisionPretax income$27.90MincomeBeforeTaxTax rate31.1%Equity$272.94MtotalStockholderEquityDebt$2.90MlongTermDebt + shortLongTermDebtCash$187.14McashInvested capital$88.70MResult 18.9% | 0.17xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$24.33MoperatingIncomeNet PP&E$147.20MpropertyPlantAndEquipmentNetResult 0.17x |
- Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
Latest year inputs (2025)
Net PP&E: $147.20M
Inventory: $2.54M
Total assets: $356.12M
Goodwill: $0.00
Intangibles: $47.89K
Liabilities: $71.16M
Tangible book: $284.91M
Shares: 855,214,580
Revenue: $74.38M
Capex: $7.51M
D&A: $9.79M
EBITDA: $38.98M
Interest: $1.29M
Short-term debt: —
Free cash flow: $19.77M
Operating income: $24.33M
Invested capital: $88.70M
Tax rate: 31.1%