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.
Scope Metals Group Ltd
Physical assets are 61.2% of total assets, a heavy footprint. Capex is 0.99x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by 0.60x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 3.79x.
Physical asset ratio
61.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 546.05MpropertyPlantAndEquipmentNetInventoryILA 990.02MinventoryTotal assetsILA 2.51BtotalAssetsResult 61.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.79xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 2.07BtotalRevenueNet PP&EILA 546.05MpropertyPlantAndEquipmentNetResult 3.79x
Revenue per dollar of the physical asset base.
Capex / D&A
0.99xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 45.35McapitalExpendituresD&AILA 45.60MdepreciationAndAmortizationResult 0.99x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
ILA 97.27Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 2.51BtotalAssetsGoodwillILA 5.55MgoodWillIntangiblesILA 19.33MintangibleAssetsLiabilitiesILA 1.25BtotalLiabTangible bookILA 1.24BShares12,725,000commonStockSharesOutstandingResult ILA 97.27
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
272.94xPrice / tangible bookPrice / tangible book per sharePriceILA 26.55KLatest quoteTangible book / shareILA 97.272025-12-31Result 272.94x
Price ILA 26.55K.
Fixed-charge coverage
0.60xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 291.24MebitdaCapexILA 45.35McapitalExpendituresInterestILA 41.32MinterestExpenseShort-term debtILA 366.39MshortLongTermDebtEBITDA − capexILA 245.89MPrincipal due is the current portion of debt.Result 0.60x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-0.4%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-ILA 14.70MfreeCashFlowMarket capILA 3.51BMarketCapitalizationResult -0.4%
Latest free cash flow divided by current market cap (ILA 3.51B).
ROIC
10.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 233.69MoperatingIncomeTax expenseILA 50.30MincomeTaxExpensePretax incomeILA 204.33MincomeBeforeTaxTax rate24.6%EquityILA 1.26BtotalStockholderEquityDebtILA 991.46MshortLongTermDebtTotalCashILA 510.48McashAndShortTermInvestmentsInvested capitalILA 1.74BResult 10.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.43x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 56.0%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 345.47MpropertyPlantEquipmentInventoryILA 498.24MinventoryTotal assetsILA 1.51BtotalAssetsUses the property line, which is larger than net PP&E (ILA 184.90M, propertyPlantAndEquipmentNet).Result 56.0% | 3.41xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueILA 1.18BtotalRevenueNet PP&EILA 345.47MpropertyPlantEquipmentResult 3.41x | 1.86xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexILA 44.63McapitalExpendituresD&AILA 23.97MdepreciationAndAmortizationResult 1.86x | ILA 41.49Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 1.51BtotalAssetsGoodwillILA 4.23MgoodWillIntangiblesILA 10.81MintangibleAssetsLiabilitiesILA 1.04BtotalLiabTangible bookILA 451.79MShares10,889,000commonStockSharesOutstandingResult ILA 41.49 | 0.47xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 182.13MebitdaCapexILA 44.63McapitalExpendituresInterestILA 25.36MinterestExpenseShort-term debtILA 265.89MshortTermDebtEBITDA − capexILA 137.50MPrincipal due is short-term debt.Result 0.47x | ILA 80.76MFree cash flow · 2018-12-31Reported free cash flowOperating cash flowILA 125.39MtotalCashFromOperatingActivitiesCapexILA 44.63McapitalExpendituresFree cash flowILA 80.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 80.76M | 12.2%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 157.93MoperatingIncomeTax expenseILA 31.64MincomeTaxExpensePretax incomeILA 132.80MincomeBeforeTaxTax rate23.8%EquityILA 466.83MtotalStockholderEquityDebtILA 877.44MshortLongTermDebtTotalCashILA 356.69McashAndShortTermInvestmentsInvested capitalILA 987.58MResult 12.2% | 0.46xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeILA 157.93MoperatingIncomeNet PP&EILA 345.47MpropertyPlantEquipmentResult 0.46x |
| 2019 | 60.6%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 439.18MpropertyPlantEquipmentInventoryILA 465.58MinventoryTotal assetsILA 1.49BtotalAssetsUses the property line, which is larger than net PP&E (ILA 220.91M, propertyPlantAndEquipmentNet).Result 60.6% | 2.60xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueILA 1.14BtotalRevenueNet PP&EILA 439.18MpropertyPlantEquipmentResult 2.60x | 3.63xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexILA 103.30McapitalExpendituresD&AILA 28.44MdepreciationAndAmortizationResult 3.63x | ILA 36.83Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 1.49BtotalAssetsGoodwillILA 4.13MgoodWillIntangiblesILA 11.64MintangibleAssetsLiabilitiesILA 1.08BtotalLiabTangible bookILA 401.09MShares10,889,000commonStockSharesOutstandingResult ILA 36.83 | 0.19xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 161.72MebitdaCapexILA 103.30McapitalExpendituresInterestILA 27.88MinterestExpenseShort-term debtILA 280.37MshortLongTermDebtEBITDA − capexILA 58.42MPrincipal due is the current portion of debt.Result 0.19x | -ILA 7.60MFree cash flow · 2019-12-31Reported free cash flowOperating cash flowILA 95.71MtotalCashFromOperatingActivitiesCapexILA 103.30McapitalExpendituresFree cash flow-ILA 7.60MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 7.60M | 9.1%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 129.16MoperatingIncomeTax expenseILA 26.00MincomeTaxExpensePretax incomeILA 105.40MincomeBeforeTaxTax rate24.7%EquityILA 416.86MtotalStockholderEquityDebtILA 923.86MshortLongTermDebtTotalCashILA 273.53McashAndShortTermInvestmentsInvested capitalILA 1.07BResult 9.1% | 0.29xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeILA 129.16MoperatingIncomeNet PP&EILA 439.18MpropertyPlantEquipmentResult 0.29x |
| 2020 | 56.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 445.61MpropertyPlantEquipmentInventoryILA 465.23MinventoryTotal assetsILA 1.60BtotalAssetsUses the property line, which is larger than net PP&E (ILA 233.59M, propertyPlantAndEquipmentNet).Result 56.8% | 2.48xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueILA 1.10BtotalRevenueNet PP&EILA 445.61MpropertyPlantEquipmentResult 2.48x | 1.84xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexILA 58.01McapitalExpendituresD&AILA 31.55MdepreciationAndAmortizationResult 1.84x | ILA 34.03Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 1.60BtotalAssetsGoodwillILA 5.52MgoodWillIntangiblesILA 11.80MintangibleAssetsLiabilitiesILA 1.22BtotalLiabTangible bookILA 370.73MShares10,893,000commonStockSharesOutstandingResult ILA 34.03 | 0.25xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 145.26MebitdaCapexILA 58.01McapitalExpendituresInterestILA 27.23MinterestExpenseShort-term debtILA 317.99MshortLongTermDebtEBITDA − capexILA 87.25MPrincipal due is the current portion of debt.Result 0.25x | ILA 34.19MFree cash flow · 2020-12-31Reported free cash flowOperating cash flowILA 92.20MtotalCashFromOperatingActivitiesCapexILA 58.01McapitalExpendituresFree cash flowILA 34.19MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 34.19M | 7.6%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 110.98MoperatingIncomeTax expenseILA 21.97MincomeTaxExpensePretax incomeILA 86.48MincomeBeforeTaxTax rate25.4%EquityILA 388.05MtotalStockholderEquityDebtILA 1.06BshortLongTermDebtTotalCashILA 364.71McashAndShortTermInvestmentsInvested capitalILA 1.08BResult 7.6% | 0.25xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeILA 110.98MoperatingIncomeNet PP&EILA 445.61MpropertyPlantEquipmentResult 0.25x |
| 2021 | 58.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 439.12MpropertyPlantEquipmentInventoryILA 546.37MinventoryTotal assetsILA 1.68BtotalAssetsUses the property line, which is larger than net PP&E (ILA 232.35M, propertyPlantAndEquipmentNet).Result 58.7% | 3.11xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueILA 1.37BtotalRevenueNet PP&EILA 439.12MpropertyPlantEquipmentResult 3.11x | 0.96xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexILA 31.98McapitalExpendituresD&AILA 33.45MdepreciationAndAmortizationResult 0.96x | ILA 39.75Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 1.68BtotalAssetsGoodwillILA 5.46MgoodWillIntangiblesILA 11.62MintangibleAssetsLiabilitiesILA 1.21BtotalLiabTangible bookILA 455.70MShares11,463,000commonStockSharesOutstandingResult ILA 39.75 | 0.81xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 301.76MebitdaCapexILA 31.98McapitalExpendituresInterestILA 26.81MinterestExpenseShort-term debtILA 305.88MshortLongTermDebtEBITDA − capexILA 269.79MPrincipal due is the current portion of debt.Result 0.81x | ILA 109.08MFree cash flow · 2021-12-31Reported free cash flowOperating cash flowILA 141.06MtotalCashFromOperatingActivitiesCapexILA 31.98McapitalExpendituresFree cash flowILA 109.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 109.08M | 18.0%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 262.69MoperatingIncomeTax expenseILA 57.52MincomeTaxExpensePretax incomeILA 241.50MincomeBeforeTaxTax rate23.8%EquityILA 472.78MtotalStockholderEquityDebtILA 993.83MshortLongTermDebtTotalCashILA 351.79McashAndShortTermInvestmentsInvested capitalILA 1.11BResult 18.0% | 0.60xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeILA 262.69MoperatingIncomeNet PP&EILA 439.12MpropertyPlantEquipmentResult 0.60x |
| 2022 | 58.3%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 512.71MpropertyPlantEquipmentInventoryILA 720.32MinventoryTotal assetsILA 2.12BtotalAssetsUses the property line, which is larger than net PP&E (ILA 245.36M, propertyPlantAndEquipmentNet).Result 58.3% | 3.21xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueILA 1.65BtotalRevenueNet PP&EILA 512.71MpropertyPlantEquipmentResult 3.21x | 2.27xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexILA 79.71McapitalExpendituresD&AILA 35.16MdepreciationAndAmortizationResult 2.27x | ILA 66.07Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 2.12BtotalAssetsGoodwillILA 5.56MgoodWillIntangiblesILA 11.94MintangibleAssetsLiabilitiesILA 1.31BtotalLiabTangible bookILA 787.97MShares11,926,000commonStockSharesOutstandingResult ILA 66.07 | 0.74xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 350.92MebitdaCapexILA 79.71McapitalExpendituresInterestILA 33.31MinterestExpenseShort-term debtILA 334.43MshortLongTermDebtEBITDA − capexILA 271.21MPrincipal due is the current portion of debt.Result 0.74x | ILA 67.56MFree cash flow · 2022-12-31Reported free cash flowOperating cash flowILA 147.27MtotalCashFromOperatingActivitiesCapexILA 79.71McapitalExpendituresFree cash flowILA 67.56MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 67.56M | 17.7%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 314.32MoperatingIncomeTax expenseILA 68.04MincomeTaxExpensePretax incomeILA 282.46MincomeBeforeTaxTax rate24.1%EquityILA 805.47MtotalStockholderEquityDebtILA 1.08BshortLongTermDebtTotalCashILA 536.13McashAndShortTermInvestmentsInvested capitalILA 1.35BResult 17.7% | 0.61xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeILA 314.32MoperatingIncomeNet PP&EILA 512.71MpropertyPlantEquipmentResult 0.61x |
| 2023 | 62.2%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 561.59MpropertyPlantAndEquipmentNetInventoryILA 757.94MinventoryTotal assetsILA 2.12BtotalAssetsResult 62.2% | 2.92xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueILA 1.64BtotalRevenueNet PP&EILA 561.59MpropertyPlantAndEquipmentNetResult 2.92x | 1.93xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexILA 77.51McapitalExpendituresD&AILA 40.08MdepreciationAndAmortizationResult 1.93x | ILA 78.96Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 2.12BtotalAssetsGoodwillILA 5.60MgoodWillIntangiblesILA 13.90MintangibleAssetsLiabilitiesILA 1.14BtotalLiabTangible bookILA 965.33MShares12,226,000commonStockSharesOutstandingResult ILA 78.96 | 0.49xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 276.60MebitdaCapexILA 77.51McapitalExpendituresInterestILA 33.81MinterestExpenseShort-term debtILA 369.56MshortLongTermDebtEBITDA − capexILA 199.09MPrincipal due is the current portion of debt.Result 0.49x | ILA 2.73MFree cash flow · 2023-12-31Reported free cash flowOperating cash flowILA 80.24MtotalCashFromOperatingActivitiesCapexILA 77.51McapitalExpendituresFree cash flowILA 2.73MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result ILA 2.73M | 10.8%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 217.62MoperatingIncomeTax expenseILA 48.80MincomeTaxExpensePretax incomeILA 202.71MincomeBeforeTaxTax rate24.1%EquityILA 984.83MtotalStockholderEquityDebtILA 924.82MshortLongTermDebtTotalCashILA 381.68McashAndShortTermInvestmentsInvested capitalILA 1.53BResult 10.8% | 0.39xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeILA 217.62MoperatingIncomeNet PP&EILA 561.59MpropertyPlantAndEquipmentNetResult 0.39x |
| 2024 | 64.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 565.49MpropertyPlantAndEquipmentNetInventoryILA 864.86MinventoryTotal assetsILA 2.23BtotalAssetsResult 64.0% | 3.19xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueILA 1.80BtotalRevenueNet PP&EILA 565.49MpropertyPlantAndEquipmentNetResult 3.19x | 1.30xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexILA 58.51McapitalExpendituresD&AILA 44.97MdepreciationAndAmortizationResult 1.30x | ILA 88.51Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 2.23BtotalAssetsGoodwillILA 5.52MgoodWillIntangiblesILA 17.57MintangibleAssetsLiabilitiesILA 1.13BtotalLiabTangible bookILA 1.08BShares12,238,671commonStockSharesOutstandingResult ILA 88.51 | 0.39xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 270.16MebitdaCapexILA 58.51McapitalExpendituresInterestILA 36.17MinterestExpenseShort-term debtILA 506.06MshortLongTermDebtEBITDA − capexILA 211.65MPrincipal due is the current portion of debt.Result 0.39x | -ILA 25.91MFree cash flow · 2024-12-31Reported free cash flowOperating cash flowILA 32.60MtotalCashFromOperatingActivitiesCapexILA 58.51McapitalExpendituresFree cash flow-ILA 25.91MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 25.91M | 9.6%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 209.61MoperatingIncomeTax expenseILA 46.12MincomeTaxExpensePretax incomeILA 189.02MincomeBeforeTaxTax rate24.4%EquityILA 1.11BtotalStockholderEquityDebtILA 897.97MshortLongTermDebtTotalCashILA 350.78McashAndShortTermInvestmentsInvested capitalILA 1.65BResult 9.6% | 0.37xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeILA 209.61MoperatingIncomeNet PP&EILA 565.49MpropertyPlantAndEquipmentNetResult 0.37x |
| 2025 | 61.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EILA 546.05MpropertyPlantAndEquipmentNetInventoryILA 990.02MinventoryTotal assetsILA 2.51BtotalAssetsResult 61.2% | 3.79xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueILA 2.07BtotalRevenueNet PP&EILA 546.05MpropertyPlantAndEquipmentNetResult 3.79x | 0.99xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexILA 45.35McapitalExpendituresD&AILA 45.60MdepreciationAndAmortizationResult 0.99x | ILA 97.27Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsILA 2.51BtotalAssetsGoodwillILA 5.55MgoodWillIntangiblesILA 19.33MintangibleAssetsLiabilitiesILA 1.25BtotalLiabTangible bookILA 1.24BShares12,725,000commonStockSharesOutstandingResult ILA 97.27 | 0.60xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAILA 291.24MebitdaCapexILA 45.35McapitalExpendituresInterestILA 41.32MinterestExpenseShort-term debtILA 366.39MshortLongTermDebtEBITDA − capexILA 245.89MPrincipal due is the current portion of debt.Result 0.60x | -ILA 14.70MFree cash flow · 2025-12-31Reported free cash flowOperating cash flowILA 30.66MtotalCashFromOperatingActivitiesCapexILA 45.35McapitalExpendituresFree cash flow-ILA 14.70MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -ILA 14.70M | 10.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeILA 233.69MoperatingIncomeTax expenseILA 50.30MincomeTaxExpensePretax incomeILA 204.33MincomeBeforeTaxTax rate24.6%EquityILA 1.26BtotalStockholderEquityDebtILA 991.46MshortLongTermDebtTotalCashILA 510.48McashAndShortTermInvestmentsInvested capitalILA 1.74BResult 10.1% | 0.43xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeILA 233.69MoperatingIncomeNet PP&EILA 546.05MpropertyPlantAndEquipmentNetResult 0.43x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: ILA 546.05M
Inventory: ILA 990.02M
Total assets: ILA 2.51B
Goodwill: ILA 5.55M
Intangibles: ILA 19.33M
Liabilities: ILA 1.25B
Tangible book: ILA 1.24B
Shares: 12,725,000
Revenue: ILA 2.07B
Capex: ILA 45.35M
D&A: ILA 45.60M
EBITDA: ILA 291.24M
Interest: ILA 41.32M
Short-term debt: ILA 366.39M
Free cash flow: -ILA 14.70M
Operating income: ILA 233.69M
Invested capital: ILA 1.74B
Tax rate: 24.6%