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.
PT Sarana Menara Nusantara Tbk
Physical assets are 69.4% of total assets, a heavy footprint. Capex is 1.10x 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. EBITDA after capex covers debt service by 0.37x, which is below 1.
Real estate revenue is mostly rent, so fixed-asset turnover often sits around 0.05x to 0.15x. This name is at 0.25x.
Physical asset ratio
69.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$53,823.75BpropertyPlantAndEquipmentNetInventory$8.54BinventoryTotal assets$77,526.73BtotalAssetsResult 69.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.25xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$13,366.56BtotalRevenueNet PP&E$53,823.75BpropertyPlantAndEquipmentNetResult 0.25x
Revenue per dollar of the physical asset base.
Capex / D&A
1.10xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$3,297.03BcapitalExpendituresD&A$2,988.28BdepreciationAndAmortizationResult 1.10x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$197.35Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$77,526.73BtotalAssetsGoodwill$15,825.48BgoodWillIntangibles$757.90BintangibleAssetsLiabilities$50,364.88BtotalLiabTangible book$10,578.46BShares53,601,492,000commonStockSharesOutstandingResult $197.35
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.00xPrice / tangible bookPrice / tangible book per sharePrice$0.03Latest quoteTangible book / share$197.352025-12-31Result 0.00x
Price $0.03.
Fixed-charge coverage
0.37xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$10,189.53BebitdaCapex$3,297.03BcapitalExpendituresInterest$3,089.05BinterestExpenseShort-term debt$15,520.25BshortLongTermDebtEBITDA − capex$6,892.51BPrincipal due is the current portion of debt.Result 0.37x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
205,772.2%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$4,314.20BfreeCashFlowMarket cap$2.10BMarketCapitalizationResult 205,772.2%
Latest free cash flow divided by current market cap ($2.10B).
ROIC
10.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$7,201.25BoperatingIncomeTax expense$5.87BincomeTaxExpensePretax income$3,698.80BincomeBeforeTaxTax rate0.2%Equity$27,050.63BtotalStockholderEquityDebt$45,350.57BshortLongTermDebtTotalCash$661.86BcashAndShortTermInvestmentsInvested capital$71,739.35BResult 10.0%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.13x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 81.2%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$18,637.71BpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$22,959.62BtotalAssetsInventory was not reported and is treated as zero.Result 81.2% | 0.31xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$5,867.86BtotalRevenueNet PP&E$18,637.71BpropertyPlantAndEquipmentNetResult 0.31x | 2.91xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$2,056.96BcapitalExpendituresD&A$706.64BdepreciationAndAmortizationResult 2.91x | $134.21Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$22,959.62BtotalAssetsGoodwill$360.28BgoodWillIntangibles$832.38BintangibleAssetsLiabilities$14,926.34BtotalLiabTangible book$6,840.62BShares50,970,846,956commonStockSharesOutstandingResult $134.21 | 0.79xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$4,547.67BebitdaCapex$2,056.96BcapitalExpendituresInterest$764.59BinterestExpenseShort-term debt$2,390.70BshortLongTermDebtEBITDA − capex$2,490.71BPrincipal due is the current portion of debt.Result 0.79x | $1,563.96BFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$3,620.92BtotalCashFromOperatingActivitiesCapex$2,056.96BcapitalExpendituresFree cash flow$1,563.96BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $1,563.96B | 15.3%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3,790.08BoperatingIncomeTax expense$728.07BincomeTaxExpensePretax income$2,928.13BincomeBeforeTaxTax rate24.9%Equity$8,033.28BtotalStockholderEquityDebt$11,485.05BshortLongTermDebtTotalCash$963.38BcashInvested capital$18,554.94BResult 15.3% | 0.20xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$3,790.08BoperatingIncomeNet PP&E$18,637.71BpropertyPlantAndEquipmentNetResult 0.20x |
| 2019 | 81.7%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$22,601.41BpropertyPlantAndEquipmentNetInventory$6.57BinventoryTotal assets$27,665.70BtotalAssetsResult 81.7% | 0.29xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$6,454.30BtotalRevenueNet PP&E$22,601.41BpropertyPlantAndEquipmentNetResult 0.29x | 6.76xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$4,818.86BcapitalExpendituresD&A$713.30BdepreciationAndAmortizationResult 6.76x | $144.92Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$27,665.70BtotalAssetsGoodwill$360.28BgoodWillIntangibles$1,097.72BintangibleAssetsLiabilities$18,905.07BtotalLiabTangible book$7,302.62BShares50,390,847,669commonStockSharesOutstandingResult $144.92 | -0.25xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$4,497.48BebitdaCapex$4,818.86BcapitalExpendituresInterest$879.75BinterestExpenseShort-term debt$426.13BshortTermDebtEBITDA − capex-$321.39BPrincipal due is short-term debt.Result -0.25x | -$4,818.86BFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$3,955.48BtotalCashFromOperatingActivitiesCapex$4,818.86BcapitalExpendituresFree cash flow-$4,818.86BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4,818.86B | 13.7%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3,927.69BoperatingIncomeTax expense$551.34BincomeTaxExpensePretax income$2,904.43BincomeBeforeTaxTax rate19.0%Equity$8,724.53BtotalStockholderEquityDebt$15,168.10BshortLongTermDebtTotalCash$593.77BcashInvested capital$23,298.86BResult 13.7% | 0.17xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$3,927.69BoperatingIncomeNet PP&E$22,601.41BpropertyPlantAndEquipmentNetResult 0.17x |
| 2020 | 82.4%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$28,208.09BpropertyPlantAndEquipmentNetInventory$4.95BinventoryTotal assets$34,249.55BtotalAssetsResult 82.4% | 0.26xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$7,445.43BtotalRevenueNet PP&E$28,208.09BpropertyPlantAndEquipmentNetResult 0.26x | 2.47xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$3,938.60BcapitalExpendituresD&A$1,594.97BdepreciationAndAmortizationResult 2.47x | $176.27Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$34,249.55BtotalAssetsGoodwill$360.28BgoodWillIntangibles$983.95BintangibleAssetsLiabilities$24,065.50BtotalLiabTangible book$8,839.82BShares50,148,387,851commonStockSharesOutstandingResult $176.27 | 0.38xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$5,898.98BebitdaCapex$3,938.60BcapitalExpendituresInterest$1,110.39BinterestExpenseShort-term debt$4,109.80BshortLongTermDebtEBITDA − capex$1,960.38BPrincipal due is the current portion of debt.Result 0.38x | -$3,938.60BFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$5,951.20BtotalCashFromOperatingActivitiesCapex$3,938.60BcapitalExpendituresFree cash flow-$3,938.60BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$3,938.60B | 14.1%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$4,566.63BoperatingIncomeTax expense$340.00BincomeTaxExpensePretax income$3,193.62BincomeBeforeTaxTax rate10.6%Equity$10,154.04BtotalStockholderEquityDebt$20,196.79BshortLongTermDebtTotalCash$1,442.63BcashInvested capital$28,908.20BResult 14.1% | 0.16xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$4,566.63BoperatingIncomeNet PP&E$28,208.09BpropertyPlantAndEquipmentNetResult 0.16x |
| 2021 | 60.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$39,802.27BpropertyPlantAndEquipmentNetInventory$1.98BinventoryTotal assets$65,828.67BtotalAssetsResult 60.5% | 0.22xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$8,635.35BtotalRevenueNet PP&E$39,802.27BpropertyPlantAndEquipmentNetResult 0.22x | 1.19xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$2,192.54BcapitalExpendituresD&A$1,849.32BdepreciationAndAmortizationResult 1.19x | -$92.21Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$65,828.67BtotalAssetsGoodwill$15,475.04BgoodWillIntangibles$1,184.46BintangibleAssetsLiabilities$53,766.65BtotalLiabTangible book-$4,597.49BShares49,858,653,765commonStockSharesOutstandingResult -$92.21 | 0.26xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$6,877.63BebitdaCapex$2,192.54BcapitalExpendituresInterest$1,312.23BinterestExpenseShort-term debt$16,440.41BshortLongTermDebtEBITDA − capex$4,685.09BPrincipal due is the current portion of debt.Result 0.26x | -$2,192.54BFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$6,196.25BtotalCashFromOperatingActivitiesCapex$2,192.54BcapitalExpendituresFree cash flow-$2,192.54BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$2,192.54B | 9.2%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5,396.55BoperatingIncomeTax expense$268.21BincomeTaxExpensePretax income$3,716.08BincomeBeforeTaxTax rate7.2%Equity$12,031.00BtotalStockholderEquityDebt$46,984.74BshortLongTermDebtTotalCash$4,748.36BcashInvested capital$54,267.37BResult 9.2% | 0.14xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$5,396.55BoperatingIncomeNet PP&E$39,802.27BpropertyPlantAndEquipmentNetResult 0.14x |
| 2022 | 66.0%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$43,308.19BpropertyPlantEquipmentInventory$16.00MinventoryTotal assets$65,625.14BtotalAssetsResult 66.0% | 0.25xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$11,035.65BtotalRevenueNet PP&E$43,308.19BpropertyPlantEquipmentResult 0.25x | 2.13xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$4,681.06BcapitalExpendituresD&A$2,197.05BdepreciationAndAmortizationResult 2.13x | -$41.97Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$65,625.14BtotalAssetsGoodwill$15,421.55BgoodWillIntangibles$1,100.64BintangibleAssetsLiabilities$51,192.80BtotalLiabTangible book-$2,089.85BShares49,798,939,800commonStockSharesOutstandingResult -$41.97 | 0.33xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$8,483.68BebitdaCapex$4,681.06BcapitalExpendituresInterest$2,338.60BinterestExpenseShort-term debt$9,176.58BshortLongTermDebtEBITDA − capex$3,802.62BPrincipal due is the current portion of debt.Result 0.33x | -$4,681.06BFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$8,072.99BtotalCashFromOperatingActivitiesCapex$4,681.06BcapitalExpendituresFree cash flow-$4,681.06BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4,681.06B | 10.2%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$6,827.64BoperatingIncomeTax expense$451.50BincomeTaxExpensePretax income$3,948.03BincomeBeforeTaxTax rate11.4%Equity$14,400.57BtotalStockholderEquityDebt$44,972.17BshortLongTermDebtTotalCash$342.70BcashAndShortTermInvestmentsInvested capital$59,030.03BResult 10.2% | 0.16xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$6,827.64BoperatingIncomeNet PP&E$43,308.19BpropertyPlantEquipmentResult 0.16x |
| 2023 | 66.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$45,506.26BpropertyPlantAndEquipmentNetInventory$14.57BinventoryTotal assets$68,418.95BtotalAssetsResult 66.5% | 0.26xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$11,740.35BtotalRevenueNet PP&E$45,506.26BpropertyPlantAndEquipmentNetResult 0.26x | 1.68xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$4,563.73BcapitalExpendituresD&A$2,712.29BdepreciationAndAmortizationResult 1.68x | $0.25Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$68,418.95BtotalAssetsGoodwill$15,508.53BgoodWillIntangibles$990.80BintangibleAssetsLiabilities$51,907.28BtotalLiabTangible book$12.33BShares49,798,932,075commonStockSharesOutstandingResult $0.25 | 0.21xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$9,001.82BebitdaCapex$4,563.73BcapitalExpendituresInterest$2,773.04BinterestExpenseShort-term debt$18,378.86BshortLongTermDebtEBITDA − capex$4,438.10BPrincipal due is the current portion of debt.Result 0.21x | $4,342.04BFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$8,915.26BtotalCashFromOperatingActivitiesCapex$4,563.73BcapitalExpendituresFree cash flow$4,342.04BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4,342.04B | 10.6%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$6,941.30BoperatingIncomeTax expense$242.23BincomeTaxExpensePretax income$3,545.88BincomeBeforeTaxTax rate6.8%Equity$16,456.39BtotalStockholderEquityDebt$44,967.60BshortLongTermDebtTotalCash$464.25BcashAndShortTermInvestmentsInvested capital$60,959.75BResult 10.6% | 0.15xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$6,941.30BoperatingIncomeNet PP&E$45,506.26BpropertyPlantAndEquipmentNetResult 0.15x |
| 2024 | 68.2%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$53,045.09BpropertyPlantAndEquipmentNetInventory$15.94BinventoryTotal assets$77,828.38BtotalAssetsResult 68.2% | 0.24xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$12,735.82BtotalRevenueNet PP&E$53,045.09BpropertyPlantAndEquipmentNetResult 0.24x | 1.52xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$4,519.03BcapitalExpendituresD&A$2,968.05BdepreciationAndAmortizationResult 1.52x | $48.77Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$77,828.38BtotalAssetsGoodwill$15,834.00BgoodWillIntangibles$906.56BintangibleAssetsLiabilities$58,659.17BtotalLiabTangible book$2,428.65BShares49,799,042,000commonStockSharesOutstandingResult $48.77 | 0.28xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$9,555.64BebitdaCapex$4,519.03BcapitalExpendituresInterest$3,050.91BinterestExpenseShort-term debt$14,954.18BshortLongTermDebtEBITDA − capex$5,036.61BPrincipal due is the current portion of debt.Result 0.28x | $4,821.03BFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$9,340.07BtotalCashFromOperatingActivitiesCapex$4,519.03BcapitalExpendituresFree cash flow$4,821.03BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4,821.03B | 9.8%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$7,265.92BoperatingIncomeTax expense$172.08BincomeTaxExpensePretax income$3,536.68BincomeBeforeTaxTax rate4.9%Equity$19,098.62BtotalStockholderEquityDebt$52,336.14BshortLongTermDebtTotalCash$976.78BcashAndShortTermInvestmentsInvested capital$70,457.98BResult 9.8% | 0.14xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$7,265.92BoperatingIncomeNet PP&E$53,045.09BpropertyPlantAndEquipmentNetResult 0.14x |
| 2025 | 69.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$53,823.75BpropertyPlantAndEquipmentNetInventory$8.54BinventoryTotal assets$77,526.73BtotalAssetsResult 69.4% | 0.25xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$13,366.56BtotalRevenueNet PP&E$53,823.75BpropertyPlantAndEquipmentNetResult 0.25x | 1.10xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$3,297.03BcapitalExpendituresD&A$2,988.28BdepreciationAndAmortizationResult 1.10x | $197.35Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$77,526.73BtotalAssetsGoodwill$15,825.48BgoodWillIntangibles$757.90BintangibleAssetsLiabilities$50,364.88BtotalLiabTangible book$10,578.46BShares53,601,492,000commonStockSharesOutstandingResult $197.35 | 0.37xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$10,189.53BebitdaCapex$3,297.03BcapitalExpendituresInterest$3,089.05BinterestExpenseShort-term debt$15,520.25BshortLongTermDebtEBITDA − capex$6,892.51BPrincipal due is the current portion of debt.Result 0.37x | $4,314.20BFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$7,611.22BtotalCashFromOperatingActivitiesCapex$3,297.03BcapitalExpendituresFree cash flow$4,314.20BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4,314.20B | 10.0%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$7,201.25BoperatingIncomeTax expense$5.87BincomeTaxExpensePretax income$3,698.80BincomeBeforeTaxTax rate0.2%Equity$27,050.63BtotalStockholderEquityDebt$45,350.57BshortLongTermDebtTotalCash$661.86BcashAndShortTermInvestmentsInvested capital$71,739.35BResult 10.0% | 0.13xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$7,201.25BoperatingIncomeNet PP&E$53,823.75BpropertyPlantAndEquipmentNetResult 0.13x |
- Principal due is the current portion of debt.
- Free-cash-flow yield is extreme. Market cap and free cash flow may be in different units.
Latest year inputs (2025)
Net PP&E: $53,823.75B
Inventory: $8.54B
Total assets: $77,526.73B
Goodwill: $15,825.48B
Intangibles: $757.90B
Liabilities: $50,364.88B
Tangible book: $10,578.46B
Shares: 53,601,492,000
Revenue: $13,366.56B
Capex: $3,297.03B
D&A: $2,988.28B
EBITDA: $10,189.53B
Interest: $3,089.05B
Short-term debt: $15,520.25B
Free cash flow: $4,314.20B
Operating income: $7,201.25B
Invested capital: $71,739.35B
Tax rate: 0.2%