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.
E. W. Scripps Co Class A
Physical assets are 10.1% of total assets, a light footprint. Capex is 0.31x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by -0.42x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 4.27x.
Physical asset ratio
10.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$503.94MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$5.01BtotalAssetsInventory was not reported and is treated as zero.Result 10.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.27xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$2.15BtotalRevenueNet PP&E$503.94MpropertyPlantAndEquipmentNetResult 4.27x
Revenue per dollar of the physical asset base.
Capex / D&A
0.31xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$46.58McapitalExpendituresD&A$150.83MdepreciationAndAmortizationResult 0.31x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$24.88Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.01BtotalAssetsGoodwill$1.92BgoodWillIntangibles$1.52BintangibleAssetsLiabilities$3.76BtotalLiabTangible book-$2.19BShares88,024,000commonStockSharesOutstandingResult -$24.88
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$2.62Latest quoteTangible book / share-$24.882025-12-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $2.62.
Fixed-charge coverage
-0.42xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$49.37MebitdaCapex$46.58McapitalExpendituresInterest$220.97MinterestExpenseShort-term debt$8.85MshortTermDebtEBITDA − capex-$95.94MPrincipal due is short-term debt.Result -0.42x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
2.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$6.52MfreeCashFlowMarket cap$242.79MMarketCapitalizationResult 2.7%
Latest free cash flow divided by current market cap ($242.79M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$162.24MoperatingIncomeTax expense-$18.63MincomeTaxExpensePretax income-$119.50MincomeBeforeTaxTax rate—Equity$1.25BtotalStockholderEquityDebt$2.71BshortLongTermDebtTotalCash$27.92McashInvested capital$3.93BROIC needs a positive pretax income so an effective tax rate can be calculated.Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.32x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | -2.9%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$237.93MpropertyPlantEquipmentInventory-$300.57MinventoryTotal assets$2.13BtotalAssetsResult -2.9% | 4.86xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$1.16BtotalRevenueNet PP&E$237.93MpropertyPlantEquipmentResult 4.86x | 1.00xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$60.48McapitalExpendituresD&A$60.71MdepreciationAndAmortizationResult 1.00x | -$4.72Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.13BtotalAssetsGoodwill$834.01MgoodWillIntangibles$478.95MintangibleAssetsLiabilities$1.20BtotalLiabTangible book-$386.80MShares81,927,000commonStockSharesOutstandingResult -$4.72 | 3.29xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$189.57MebitdaCapex$60.48McapitalExpendituresInterest$36.18MinterestExpenseShort-term debt$3.00MshortTermDebtEBITDA − capex$129.08MPrincipal due is short-term debt.Result 3.29x | $80.43MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$140.91MtotalCashFromOperatingActivitiesCapex$60.48McapitalExpendituresFree cash flow$80.43MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $80.43M | 7.4%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$148.48MoperatingIncomeTax expense$22.78MincomeTaxExpensePretax income$92.67MincomeBeforeTaxTax rate24.6%Equity$926.17MtotalStockholderEquityDebt$688.76MshortLongTermDebtTotalCash$107.11McashInvested capital$1.51BResult 7.4% | 0.62xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$148.48MoperatingIncomeNet PP&E$237.93MpropertyPlantEquipmentResult 0.62x |
| 2019 | 16.8%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$498.57MpropertyPlantAndEquipmentNetInventory$101.27MinventoryTotal assets$3.56BtotalAssetsResult 16.8% | 2.71xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$1.35BtotalRevenueNet PP&E$498.57MpropertyPlantAndEquipmentNetResult 2.71x | 1.02xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$85.80McapitalExpendituresD&A$84.34MdepreciationAndAmortizationResult 1.02x | -$17.17Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.56BtotalAssetsGoodwill$1.22BgoodWillIntangibles$1.06BintangibleAssetsLiabilities$2.66BtotalLiabTangible book-$1.39BShares80,826,000commonStockSharesOutstandingResult -$17.17 | 0.88xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$165.94MebitdaCapex$85.80McapitalExpendituresInterest$80.60MinterestExpenseShort-term debt$10.61MshortTermDebtEBITDA − capex$80.15MPrincipal due is short-term debt.Result 0.88x | -$113.25MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$27.45MtotalCashFromOperatingActivitiesCapex$85.80McapitalExpendituresFree cash flow-$113.25MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$113.25M | 1.8%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$87.36MoperatingIncomeTax expense$2.92MincomeTaxExpensePretax income$1.00MincomeBeforeTaxTax rate40.0%Equity$897.94MtotalStockholderEquityDebt$2.03BshortLongTermDebtTotalCash$32.97McashInvested capital$2.89BThe effective tax rate was above 40% and was capped at 40%.Result 1.8% | 0.18xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$87.36MoperatingIncomeNet PP&E$498.57MpropertyPlantAndEquipmentNetResult 0.18x |
| 2020 | 29.7%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$395.39MpropertyPlantAndEquipmentNetInventory$1.05BinventoryTotal assets$4.86BtotalAssetsResult 29.7% | 4.70xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$1.86BtotalRevenueNet PP&E$395.39MpropertyPlantAndEquipmentNetResult 4.70x | 0.44xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$46.83McapitalExpendituresD&A$107.16MdepreciationAndAmortizationResult 0.44x | -$12.41Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.86BtotalAssetsGoodwill$1.20BgoodWillIntangibles$975.44MintangibleAssetsLiabilities$3.70BtotalLiabTangible book-$1.02BShares81,831,000commonStockSharesOutstandingResult -$12.41 | 3.50xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$409.17MebitdaCapex$46.83McapitalExpendituresInterest$92.99MinterestExpenseShort-term debt$10.61MshortTermDebtEBITDA − capex$362.34MPrincipal due is short-term debt.Result 3.50x | $230.56MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$277.39MtotalCashFromOperatingActivitiesCapex$46.83McapitalExpendituresFree cash flow$230.56MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $230.56M | 6.3%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$303.49MoperatingIncomeTax expense$55.46MincomeTaxExpensePretax income$209.02MincomeBeforeTaxTax rate26.5%Equity$1.16BtotalStockholderEquityDebt$2.98BshortLongTermDebtTotalCash$576.02McashInvested capital$3.56BResult 6.3% | 0.77xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$303.49MoperatingIncomeNet PP&E$395.39MpropertyPlantAndEquipmentNetResult 0.77x |
| 2021 | 0.6%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$581.77MpropertyPlantAndEquipmentNetInventory-$539.04MinventoryTotal assets$6.66BtotalAssetsResult 0.6% | 3.93xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$2.28BtotalRevenueNet PP&E$581.77MpropertyPlantAndEquipmentNetResult 3.93x | 0.38xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$61.17McapitalExpendituresD&A$161.92MdepreciationAndAmortizationResult 0.38x | -$32.43Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.66BtotalAssetsGoodwill$2.91BgoodWillIntangibles$1.91BintangibleAssetsLiabilities$4.69BtotalLiabTangible book-$2.85BShares87,979,000commonStockSharesOutstandingResult -$32.43 | 2.46xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$514.17MebitdaCapex$61.17McapitalExpendituresInterest$165.16MinterestExpenseShort-term debt$18.61MshortTermDebtEBITDA − capex$453.00MPrincipal due is short-term debt.Result 2.46x | $175.83MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$237.00MtotalCashFromOperatingActivitiesCapex$61.17McapitalExpendituresFree cash flow$175.83MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $175.83M | 4.8%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$400.75MoperatingIncomeTax expense$71.19MincomeTaxExpensePretax income$187.09MincomeBeforeTaxTax rate38.1%Equity$1.97BtotalStockholderEquityDebt$3.26BshortLongTermDebtTotalCash$66.22McashInvested capital$5.17BResult 4.8% | 0.69xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$400.75MoperatingIncomeNet PP&E$581.77MpropertyPlantAndEquipmentNetResult 0.69x |
| 2022 | -0.4%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$576.47MpropertyPlantEquipmentInventory-$600.10MinventoryTotal assets$6.43BtotalAssetsResult -0.4% | 4.26xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$2.45BtotalRevenueNet PP&E$576.47MpropertyPlantEquipmentResult 4.26x | 0.29xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$45.79McapitalExpendituresD&A$160.43MdepreciationAndAmortizationResult 0.29x | -$29.89Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.43BtotalAssetsGoodwill$2.92BgoodWillIntangibles$1.82BintangibleAssetsLiabilities$4.30BtotalLiabTangible book-$2.61BShares87,346,000commonStockSharesOutstandingResult -$29.89 | 3.07xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$598.03MebitdaCapex$45.79McapitalExpendituresInterest$161.13MinterestExpenseShort-term debt$18.61MshortTermDebtEBITDA − capex$552.23MPrincipal due is short-term debt.Result 3.07x | $265.63MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$311.42MtotalCashFromOperatingActivitiesCapex$45.79McapitalExpendituresFree cash flow$265.63MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $265.63M | 5.9%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$428.34MoperatingIncomeTax expense$80.56MincomeTaxExpensePretax income$276.46MincomeBeforeTaxTax rate29.1%Equity$2.13BtotalStockholderEquityDebt$3.01BshortLongTermDebtTotalCash$18.03McashInvested capital$5.12BResult 5.9% | 0.74xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$428.34MoperatingIncomeNet PP&E$576.47MpropertyPlantEquipmentResult 0.74x |
| 2023 | 10.2%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$554.45MpropertyPlantAndEquipmentNetInventory$1.00inventoryTotal assets$5.41BtotalAssetsResult 10.2% | 4.14xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$2.29BtotalRevenueNet PP&E$554.45MpropertyPlantAndEquipmentNetResult 4.14x | 0.38xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$59.63McapitalExpendituresD&A$155.11MdepreciationAndAmortizationResult 0.38x | -$30.14Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.41BtotalAssetsGoodwill$1.97BgoodWillIntangibles$1.73BintangibleAssetsLiabilities$4.25BtotalLiabTangible book-$2.54BShares84,266,000commonStockSharesOutstandingResult -$30.14 | -2.87xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$598.89MebitdaCapex$59.63McapitalExpendituresInterest$213.51MinterestExpenseShort-term debt$15.61MshortLongTermDebtEBITDA − capex-$658.52MPrincipal due is the current portion of debt.Result -2.87x | $51.98MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$111.60MtotalCashFromOperatingActivitiesCapex$59.63McapitalExpendituresFree cash flow$51.98MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $51.98M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$753.24MoperatingIncomeTax expense-$19.73MincomeTaxExpensePretax income-$967.51MincomeBeforeTaxTax rate—Equity$1.16BtotalStockholderEquityDebt$3.05BshortLongTermDebtTotalCash$35.32McashInvested capital$4.17BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.36xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$753.24MoperatingIncomeNet PP&E$554.45MpropertyPlantAndEquipmentNetResult -1.36x |
| 2024 | 10.5%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$544.04MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$5.20BtotalAssetsInventory was not reported and is treated as zero.Result 10.5% | 4.61xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$2.51BtotalRevenueNet PP&E$544.04MpropertyPlantAndEquipmentNetResult 4.61x | 0.42xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$65.26McapitalExpendituresD&A$155.23MdepreciationAndAmortizationResult 0.42x | -$26.56Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.20BtotalAssetsGoodwill$1.97BgoodWillIntangibles$1.64BintangibleAssetsLiabilities$3.88BtotalLiabTangible book-$2.29BShares86,067,000commonStockSharesOutstandingResult -$26.56 | 2.26xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$575.55MebitdaCapex$65.26McapitalExpendituresInterest$210.34MinterestExpenseShort-term debt$15.61MshortTermDebtEBITDA − capex$510.30MPrincipal due is short-term debt.Result 2.26x | $300.42MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$365.68MtotalCashFromOperatingActivitiesCapex$65.26McapitalExpendituresFree cash flow$300.42MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $300.42M | 7.2%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$412.49MoperatingIncomeTax expense$63.76MincomeTaxExpensePretax income$209.98MincomeBeforeTaxTax rate30.4%Equity$1.32BtotalStockholderEquityDebt$2.69BshortLongTermDebtTotalCash$23.85McashInvested capital$3.98BResult 7.2% | 0.76xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$412.49MoperatingIncomeNet PP&E$544.04MpropertyPlantAndEquipmentNetResult 0.76x |
| 2025 | 10.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$503.94MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$5.01BtotalAssetsInventory was not reported and is treated as zero.Result 10.1% | 4.27xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$2.15BtotalRevenueNet PP&E$503.94MpropertyPlantAndEquipmentNetResult 4.27x | 0.31xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$46.58McapitalExpendituresD&A$150.83MdepreciationAndAmortizationResult 0.31x | -$24.88Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.01BtotalAssetsGoodwill$1.92BgoodWillIntangibles$1.52BintangibleAssetsLiabilities$3.76BtotalLiabTangible book-$2.19BShares88,024,000commonStockSharesOutstandingResult -$24.88 | -0.42xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$49.37MebitdaCapex$46.58McapitalExpendituresInterest$220.97MinterestExpenseShort-term debt$8.85MshortTermDebtEBITDA − capex-$95.94MPrincipal due is short-term debt.Result -0.42x | $6.52MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$53.10MtotalCashFromOperatingActivitiesCapex$46.58McapitalExpendituresFree cash flow$6.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $6.52M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$162.24MoperatingIncomeTax expense-$18.63MincomeTaxExpensePretax income-$119.50MincomeBeforeTaxTax rate—Equity$1.25BtotalStockholderEquityDebt$2.71BshortLongTermDebtTotalCash$27.92McashInvested capital$3.93BROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.32xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$162.24MoperatingIncomeNet PP&E$503.94MpropertyPlantAndEquipmentNetResult 0.32x |
- Inventory was missing and treated as zero in the physical asset ratio.
- 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 short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $503.94M
Inventory: $0.00
Total assets: $5.01B
Goodwill: $1.92B
Intangibles: $1.52B
Liabilities: $3.76B
Tangible book: -$2.19B
Shares: 88,024,000
Revenue: $2.15B
Capex: $46.58M
D&A: $150.83M
EBITDA: -$49.37M
Interest: $220.97M
Short-term debt: $8.85M
Free cash flow: $6.52M
Operating income: $162.24M
Invested capital: $3.93B
Tax rate: —