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.
Interface Inc
Physical assets are 37.4% of total assets, a mixed 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. ROIC is 9.9%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 3.58x. Compare it with other names in the same basket.
Physical asset ratio
37.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$387.64MpropertyPlantAndEquipmentNetInventory$275.01MinventoryTotal assets$1.77BtotalAssetsResult 37.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.58xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$1.39BtotalRevenueNet PP&E$387.64MpropertyPlantAndEquipmentNetResult 3.58x
Revenue per dollar of the physical asset base.
Capex / D&A
1.10xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$46.19McapitalExpendituresD&A$41.99MdepreciationAndAmortizationResult 1.10x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$17.63Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.77BtotalAssetsGoodwill$112.13MgoodWillIntangibles$50.89MintangibleAssetsLiabilities$565.85MtotalLiabTangible book$1.04BShares59,173,000commonStockSharesOutstandingResult $17.63
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.09xPrice / tangible bookPrice / tangible book per sharePrice$36.81Latest quoteTangible book / share$17.632025-12-31Result 2.09x
Price $36.81.
Fixed-charge coverage
5.37xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$198.39MebitdaCapex$46.19McapitalExpendituresInterest$19.55MinterestExpenseShort-term debt$8.78MshortLongTermDebtEBITDA − capex$152.19MPrincipal due is the current portion of debt.Result 5.37x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$121.71MfreeCashFlowMarket cap$2.13BMarketCapitalizationResult 5.7%
Latest free cash flow divided by current market cap ($2.13B).
ROIC
9.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$164.00MoperatingIncomeTax expense$20.75MincomeTaxExpensePretax income$136.85MincomeBeforeTaxTax rate15.2%Equity$1.21BtotalStockholderEquityDebt$264.53MshortLongTermDebtTotalCash$71.32McashInvested capital$1.40BResult 9.9%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.42x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 42.9%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$292.89MpropertyPlantEquipmentInventory$258.66MinventoryTotal assets$1.28BtotalAssetsResult 42.9% | 4.03xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$1.18BtotalRevenueNet PP&E$292.89MpropertyPlantEquipmentResult 4.03x | 1.23xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$54.86McapitalExpendituresD&A$44.47MdepreciationAndAmortizationResult 1.23x | $0.19Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.28BtotalAssetsGoodwill$245.80MgoodWillIntangibles$97.74MintangibleAssetsLiabilities$929.98MtotalLiabTangible book$11.12MShares59,566,000commonStockSharesOutstandingResult $0.19 | 1.28xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$114.90MebitdaCapex$54.86McapitalExpendituresInterest$15.44MinterestExpenseShort-term debt$31.32MshortTermDebtEBITDA − capex$60.04MPrincipal due is short-term debt.Result 1.28x | $36.91MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$91.77MtotalCashFromOperatingActivitiesCapex$54.86McapitalExpendituresFree cash flow$36.91MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $36.91M | 7.8%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$76.38MoperatingIncomeTax expense$4.74MincomeTaxExpensePretax income$54.99MincomeBeforeTaxTax rate8.6%Equity$354.66MtotalStockholderEquityDebt$618.58MshortLongTermDebtTotalCash$80.99McashInvested capital$892.26MResult 7.8% | 0.26xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$76.38MoperatingIncomeNet PP&E$292.89MpropertyPlantEquipmentResult 0.26x |
| 2019 | 48.2%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$431.63MpropertyPlantEquipmentInventory$253.58MinventoryTotal assets$1.42BtotalAssetsResult 48.2% | 3.11xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$1.34BtotalRevenueNet PP&E$431.63MpropertyPlantEquipmentResult 3.11x | 1.47xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$74.65McapitalExpendituresD&A$50.84MdepreciationAndAmortizationResult 1.47x | $0.37Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.42BtotalAssetsGoodwill$257.44MgoodWillIntangibles$89.04MintangibleAssetsLiabilities$1.05BtotalLiabTangible book$21.73MShares58,948,000commonStockSharesOutstandingResult $0.37 | 1.83xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$178.31MebitdaCapex$74.65McapitalExpendituresInterest$25.66MinterestExpenseShort-term debt$31.02MshortLongTermDebtEBITDA − capex$103.66MPrincipal due is the current portion of debt.Result 1.83x | $67.12MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$141.77MtotalCashFromOperatingActivitiesCapex$74.65McapitalExpendituresFree cash flow$67.12MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $67.12M | 10.3%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$130.90MoperatingIncomeTax expense$22.62MincomeTaxExpensePretax income$101.82MincomeBeforeTaxTax rate22.2%Equity$368.20MtotalStockholderEquityDebt$703.94MshortLongTermDebtTotalCash$81.30McashInvested capital$990.84MResult 10.3% | 0.30xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$130.90MoperatingIncomeNet PP&E$431.63MpropertyPlantEquipmentResult 0.30x |
| 2020 | 52.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$457.05MpropertyPlantEquipmentInventory$228.73MinventoryTotal assets$1.31BtotalAssetsResult 52.5% | 2.41xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$1.10BtotalRevenueNet PP&E$457.05MpropertyPlantEquipmentResult 2.41x | 1.23xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$62.95McapitalExpendituresD&A$51.38MdepreciationAndAmortizationResult 1.23x | $1.25Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.31BtotalAssetsGoodwill$165.78MgoodWillIntangibles$87.76MintangibleAssetsLiabilities$979.47MtotalLiabTangible book$73.00MShares58,547,000commonStockSharesOutstandingResult $1.25 | -1.39xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.20MebitdaCapex$62.95McapitalExpendituresInterest$29.24MinterestExpenseShort-term debt$15.32MshortLongTermDebtEBITDA − capex-$61.75MPrincipal due is the current portion of debt.Result -1.39x | $56.12MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$119.07MtotalCashFromOperatingActivitiesCapex$62.95McapitalExpendituresFree cash flow$56.12MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $56.12M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$39.29MoperatingIncomeTax expense-$7.49MincomeTaxExpensePretax income-$79.42MincomeBeforeTaxTax rate—Equity$326.54MtotalStockholderEquityDebt$680.78MshortLongTermDebtTotalCash$103.05McashInvested capital$904.26MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.09xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$39.29MoperatingIncomeNet PP&E$457.05MpropertyPlantEquipmentResult -0.09x |
| 2021 | 51.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$420.36MpropertyPlantEquipmentInventory$265.09MinventoryTotal assets$1.33BtotalAssetsResult 51.5% | 2.86xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$1.20BtotalRevenueNet PP&E$420.36MpropertyPlantEquipmentResult 2.86x | 0.53xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$28.07McapitalExpendituresD&A$53.14MdepreciationAndAmortizationResult 0.53x | $2.38Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.33BtotalAssetsGoodwill$147.03MgoodWillIntangibles$76.18MintangibleAssetsLiabilities$966.66MtotalLiabTangible book$140.19MShares58,971,000commonStockSharesOutstandingResult $2.38 | 2.85xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$155.45MebitdaCapex$28.07McapitalExpendituresInterest$29.68MinterestExpenseShort-term debt$15.00MshortLongTermDebtEBITDA − capex$127.38MPrincipal due is the current portion of debt.Result 2.85x | $58.62MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$86.69MtotalCashFromOperatingActivitiesCapex$28.07McapitalExpendituresFree cash flow$58.62MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $58.62M | 9.0%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$104.80MoperatingIncomeTax expense$17.40MincomeTaxExpensePretax income$72.63MincomeBeforeTaxTax rate24.0%Equity$363.40MtotalStockholderEquityDebt$615.59MshortLongTermDebtTotalCash$97.25McashInvested capital$881.74MResult 9.0% | 0.25xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$104.80MoperatingIncomeNet PP&E$420.36MpropertyPlantEquipmentResult 0.25x |
| 2022 | 54.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$379.62MpropertyPlantEquipmentInventory$306.33MinventoryTotal assets$1.27BtotalAssetsResult 54.2% | 3.42xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$1.30BtotalRevenueNet PP&E$379.62MpropertyPlantEquipmentResult 3.42x | 0.40xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$18.44McapitalExpendituresD&A$46.34MdepreciationAndAmortizationResult 0.40x | $3.39Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.27BtotalAssetsGoodwill$102.42MgoodWillIntangibles$59.78MintangibleAssetsLiabilities$904.97MtotalLiabTangible book$199.34MShares58,865,000commonStockSharesOutstandingResult $3.39 | 2.48xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$118.18MebitdaCapex$18.44McapitalExpendituresInterest$29.93MinterestExpenseShort-term debt$10.21MshortLongTermDebtEBITDA − capex$99.75MPrincipal due is the current portion of debt.Result 2.48x | $24.62MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$43.06MtotalCashFromOperatingActivitiesCapex$18.44McapitalExpendituresFree cash flow$24.62MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $24.62M | 5.2%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$75.40MoperatingIncomeTax expense$22.36MincomeTaxExpensePretax income$41.92MincomeBeforeTaxTax rate40.0%Equity$361.54MtotalStockholderEquityDebt$610.62MshortLongTermDebtTotalCash$97.56McashInvested capital$874.59MThe effective tax rate was above 40% and was capped at 40%.Result 5.2% | 0.20xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$75.40MoperatingIncomeNet PP&E$379.62MpropertyPlantEquipmentResult 0.20x |
| 2023 | 53.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$378.66MpropertyPlantAndEquipmentNetInventory$279.08MinventoryTotal assets$1.23BtotalAssetsResult 53.5% | 3.33xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$1.26BtotalRevenueNet PP&E$378.66MpropertyPlantAndEquipmentNetResult 3.33x | 0.56xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$26.11McapitalExpendituresD&A$46.27MdepreciationAndAmortizationResult 0.56x | $4.53Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.23BtotalAssetsGoodwill$105.45MgoodWillIntangibles$56.26MintangibleAssetsLiabilities$804.15MtotalLiabTangible book$264.24MShares58,335,000commonStockSharesOutstandingResult $4.53 | 2.86xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$141.71MebitdaCapex$26.11McapitalExpendituresInterest$31.79MinterestExpenseShort-term debt$8.57MshortLongTermDebtEBITDA − capex$115.61MPrincipal due is the current portion of debt.Result 2.86x | $115.93MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$142.03MtotalCashFromOperatingActivitiesCapex$26.11McapitalExpendituresFree cash flow$115.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $115.93M | 8.8%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$104.52MoperatingIncomeTax expense$19.14MincomeTaxExpensePretax income$63.65MincomeBeforeTaxTax rate30.1%Equity$425.95MtotalStockholderEquityDebt$515.45MshortLongTermDebtTotalCash$110.50McashInvested capital$830.90MResult 8.8% | 0.28xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income$104.52MoperatingIncomeNet PP&E$378.66MpropertyPlantAndEquipmentNetResult 0.28x |
| 2024 | 52.9%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$359.19MpropertyPlantAndEquipmentNetInventory$260.58MinventoryTotal assets$1.17BtotalAssetsResult 52.9% | 3.66xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$1.32BtotalRevenueNet PP&E$359.19MpropertyPlantAndEquipmentNetResult 3.66x | 0.76xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$33.79McapitalExpendituresD&A$44.67MdepreciationAndAmortizationResult 0.76x | $5.79Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.17BtotalAssetsGoodwill$99.89MgoodWillIntangibles$48.27MintangibleAssetsLiabilities$681.67MtotalLiabTangible book$340.99MShares58,871,000commonStockSharesOutstandingResult $5.79 | 6.23xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$181.43MebitdaCapex$33.79McapitalExpendituresInterest$23.21MinterestExpenseShort-term debt$482.00KshortLongTermDebtEBITDA − capex$147.64MPrincipal due is the current portion of debt.Result 6.23x | $114.64MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$148.43MtotalCashFromOperatingActivitiesCapex$33.79McapitalExpendituresFree cash flow$114.64MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $114.64M | 13.3%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$134.41MoperatingIncomeTax expense$26.61MincomeTaxExpensePretax income$113.55MincomeBeforeTaxTax rate23.4%Equity$489.15MtotalStockholderEquityDebt$383.15MshortLongTermDebtTotalCash$99.23McashInvested capital$773.07MResult 13.3% | 0.37xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$134.41MoperatingIncomeNet PP&E$359.19MpropertyPlantAndEquipmentNetResult 0.37x |
| 2025 | 37.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$387.64MpropertyPlantAndEquipmentNetInventory$275.01MinventoryTotal assets$1.77BtotalAssetsResult 37.4% | 3.58xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$1.39BtotalRevenueNet PP&E$387.64MpropertyPlantAndEquipmentNetResult 3.58x | 1.10xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$46.19McapitalExpendituresD&A$41.99MdepreciationAndAmortizationResult 1.10x | $17.63Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.77BtotalAssetsGoodwill$112.13MgoodWillIntangibles$50.89MintangibleAssetsLiabilities$565.85MtotalLiabTangible book$1.04BShares59,173,000commonStockSharesOutstandingResult $17.63 | 5.37xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$198.39MebitdaCapex$46.19McapitalExpendituresInterest$19.55MinterestExpenseShort-term debt$8.78MshortLongTermDebtEBITDA − capex$152.19MPrincipal due is the current portion of debt.Result 5.37x | $121.71MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$167.91MtotalCashFromOperatingActivitiesCapex$46.19McapitalExpendituresFree cash flow$121.71MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $121.71M | 9.9%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$164.00MoperatingIncomeTax expense$20.75MincomeTaxExpensePretax income$136.85MincomeBeforeTaxTax rate15.2%Equity$1.21BtotalStockholderEquityDebt$264.53MshortLongTermDebtTotalCash$71.32McashInvested capital$1.40BResult 9.9% | 0.42xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$164.00MoperatingIncomeNet PP&E$387.64MpropertyPlantAndEquipmentNetResult 0.42x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $387.64M
Inventory: $275.01M
Total assets: $1.77B
Goodwill: $112.13M
Intangibles: $50.89M
Liabilities: $565.85M
Tangible book: $1.04B
Shares: 59,173,000
Revenue: $1.39B
Capex: $46.19M
D&A: $41.99M
EBITDA: $198.39M
Interest: $19.55M
Short-term debt: $8.78M
Free cash flow: $121.71M
Operating income: $164.00M
Invested capital: $1.40B
Tax rate: 15.2%