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.
Unilever PLC
Physical assets are 18.5% of total assets, a light footprint. Capex is 1.18x 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 17.6%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 5.61x. Compare it with other names in the same basket.
Physical asset ratio
18.5%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 9.00BpropertyPlantAndEquipmentNetInventoryGBX 4.05BinventoryTotal assetsGBX 70.56BtotalAssetsResult 18.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
5.61xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueGBX 50.50BtotalRevenueNet PP&EGBX 9.00BpropertyPlantAndEquipmentNetResult 5.61x
Revenue per dollar of the physical asset base.
Capex / D&A
1.18xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.59BcapitalExpendituresD&AGBX 1.35BdepreciationAndAmortizationResult 1.18x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-GBX 7.83Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 70.56BtotalAssetsGoodwillGBX 17.73BgoodWillIntangiblesGBX 17.08BintangibleAssetsLiabilitiesGBX 52.95BtotalLiabTangible book-GBX 17.20BShares2,195,300,000commonStockSharesOutstandingResult -GBX 7.83
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePriceGBX 4.87KLatest quoteTangible book / share-GBX 7.832025-12-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price GBX 4.87K.
Fixed-charge coverage
2.99xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 11.11BebitdaCapexGBX 1.59BcapitalExpendituresInterestGBX 1.01BinterestExpenseShort-term debtGBX 2.18BshortLongTermDebtEBITDA − capexGBX 9.52BPrincipal due is the current portion of debt.Result 2.99x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
6.4%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flowGBX 6.76BfreeCashFlowMarket capGBX 104.89BMarketCapitalizationResult 6.4%
Latest free cash flow divided by current market cap (GBX 104.89B).
ROIC
17.6%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 9.90BoperatingIncomeTax expenseGBX 2.44BincomeTaxExpensePretax incomeGBX 8.54BincomeBeforeTaxTax rate28.5%EquityGBX 15.55BtotalStockholderEquityDebtGBX 29.64BshortLongTermDebtTotalCashGBX 5.07BcashAndShortTermInvestmentsInvested capitalGBX 40.12BResult 17.6%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 1.10x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 27.6%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 12.09BpropertyPlantEquipmentInventoryGBX 4.30BinventoryTotal assetsGBX 59.46BtotalAssetsResult 27.6% | 4.22xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenueGBX 50.98BtotalRevenueNet PP&EGBX 12.09BpropertyPlantEquipmentResult 4.22x | 0.82xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.42BcapitalExpendituresD&AGBX 1.75BdepreciationAndAmortizationResult 0.82x | -GBX 6.38Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 59.46BtotalAssetsGoodwillGBX 17.34BgoodWillIntangiblesGBX 12.15BintangibleAssetsLiabilitiesGBX 47.16BtotalLiabTangible book-GBX 17.20BShares2,694,800,000commonStockSharesOutstandingResult -GBX 6.38 | 3.77xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 15.31BebitdaCapexGBX 1.42BcapitalExpendituresInterestGBX 731.00MinterestExpenseShort-term debtGBX 2.95BshortLongTermDebtEBITDA − capexGBX 13.88BPrincipal due is the current portion of debt.Result 3.77x | GBX 5.33BFree cash flow · 2018-12-31Reported free cash flowOperating cash flowGBX 6.75BtotalCashFromOperatingActivitiesCapexGBX 1.42BcapitalExpendituresFree cash flowGBX 5.33BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 5.33B | 29.6%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 12.54BoperatingIncomeTax expenseGBX 2.58BincomeTaxExpensePretax incomeGBX 12.38BincomeBeforeTaxTax rate20.8%EquityGBX 11.57BtotalStockholderEquityDebtGBX 26.08BshortLongTermDebtTotalCashGBX 4.10BcashAndShortTermInvestmentsInvested capitalGBX 33.55BResult 29.6% | 1.04xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating incomeGBX 12.54BoperatingIncomeNet PP&EGBX 12.09BpropertyPlantEquipmentResult 1.04x |
| 2019 | 25.0%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 12.06BpropertyPlantEquipmentInventoryGBX 4.16BinventoryTotal assetsGBX 64.81BtotalAssetsResult 25.0% | 4.31xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenueGBX 51.98BtotalRevenueNet PP&EGBX 12.06BpropertyPlantEquipmentResult 4.31x | 0.72xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.43BcapitalExpendituresD&AGBX 1.98BdepreciationAndAmortizationResult 0.72x | -GBX 7.34Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 64.81BtotalAssetsGoodwillGBX 18.07BgoodWillIntangiblesGBX 12.96BintangibleAssetsLiabilitiesGBX 50.92BtotalLiabTangible book-GBX 17.14BShares2,334,844,000commonStockSharesOutstandingResult -GBX 7.34 | 1.99xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 11.03BebitdaCapexGBX 1.43BcapitalExpendituresInterestGBX 763.00MinterestExpenseShort-term debtGBX 4.07BshortLongTermDebtEBITDA − capexGBX 9.61BPrincipal due is the current portion of debt.Result 1.99x | GBX 6.68BFree cash flow · 2019-12-31Reported free cash flowOperating cash flowGBX 8.11BtotalCashFromOperatingActivitiesCapexGBX 1.43BcapitalExpendituresFree cash flowGBX 6.68BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 6.68B | 17.4%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 8.71BoperatingIncomeTax expenseGBX 2.26BincomeTaxExpensePretax incomeGBX 8.29BincomeBeforeTaxTax rate27.3%EquityGBX 13.19BtotalStockholderEquityDebtGBX 28.26BshortLongTermDebtTotalCashGBX 5.09BcashAndShortTermInvestmentsInvested capitalGBX 36.36BResult 17.4% | 0.72xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating incomeGBX 8.71BoperatingIncomeNet PP&EGBX 12.06BpropertyPlantEquipmentResult 0.72x |
| 2020 | 22.2%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 10.56BpropertyPlantEquipmentInventoryGBX 4.46BinventoryTotal assetsGBX 67.66BtotalAssetsResult 22.2% | 4.80xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenueGBX 50.72BtotalRevenueNet PP&EGBX 10.56BpropertyPlantEquipmentResult 4.80x | 0.46xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapexGBX 932.00McapitalExpendituresD&AGBX 2.02BdepreciationAndAmortizationResult 0.46x | -GBX 7.39Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 67.66BtotalAssetsGoodwillGBX 18.94BgoodWillIntangiblesGBX 16.00BintangibleAssetsLiabilitiesGBX 50.00BtotalLiabTangible book-GBX 17.29BShares2,337,600,000commonStockSharesOutstandingResult -GBX 7.39 | 2.12xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 10.72BebitdaCapexGBX 932.00McapitalExpendituresInterestGBX 703.00MinterestExpenseShort-term debtGBX 3.91BshortLongTermDebtEBITDA − capexGBX 9.79BPrincipal due is the current portion of debt.Result 2.12x | GBX 8.13BFree cash flow · 2020-12-31Reported free cash flowOperating cash flowGBX 9.06BtotalCashFromOperatingActivitiesCapexGBX 932.00McapitalExpendituresFree cash flowGBX 8.13BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 8.13B | 17.6%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 8.30BoperatingIncomeTax expenseGBX 1.92BincomeTaxExpensePretax incomeGBX 8.00BincomeBeforeTaxTax rate24.0%EquityGBX 15.27BtotalStockholderEquityDebtGBX 26.77BshortLongTermDebtTotalCashGBX 6.30BcashAndShortTermInvestmentsInvested capitalGBX 35.74BResult 17.6% | 0.79xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating incomeGBX 8.30BoperatingIncomeNet PP&EGBX 10.56BpropertyPlantEquipmentResult 0.79x |
| 2021 | 20.0%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 10.35BpropertyPlantEquipmentInventoryGBX 4.68BinventoryTotal assetsGBX 75.10BtotalAssetsResult 20.0% | 5.07xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenueGBX 52.44BtotalRevenueNet PP&EGBX 10.35BpropertyPlantEquipmentResult 5.07x | 0.70xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.24BcapitalExpendituresD&AGBX 1.76BdepreciationAndAmortizationResult 0.70x | -GBX 8.12Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 75.10BtotalAssetsGoodwillGBX 20.33BgoodWillIntangiblesGBX 18.26BintangibleAssetsLiabilitiesGBX 55.35BtotalLiabTangible book-GBX 18.85BShares2,319,644,000commonStockSharesOutstandingResult -GBX 8.12 | 1.33xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 10.82BebitdaCapexGBX 1.24BcapitalExpendituresInterestGBX 491.00MinterestExpenseShort-term debtGBX 6.70BshortLongTermDebtEBITDA − capexGBX 9.58BPrincipal due is the current portion of debt.Result 1.33x | GBX 6.73BFree cash flow · 2021-12-31Reported free cash flowOperating cash flowGBX 7.97BtotalCashFromOperatingActivitiesCapexGBX 1.24BcapitalExpendituresFree cash flowGBX 6.73BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 6.73B | 15.9%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 8.70BoperatingIncomeTax expenseGBX 1.94BincomeTaxExpensePretax incomeGBX 8.56BincomeBeforeTaxTax rate22.6%EquityGBX 17.11BtotalStockholderEquityDebtGBX 29.67BshortLongTermDebtTotalCashGBX 4.50BcashAndShortTermInvestmentsInvested capitalGBX 42.28BResult 15.9% | 0.84xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating incomeGBX 8.70BoperatingIncomeNet PP&EGBX 10.35BpropertyPlantEquipmentResult 0.84x |
| 2022 | 21.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 10.77BpropertyPlantEquipmentInventoryGBX 5.93BinventoryTotal assetsGBX 77.82BtotalAssetsResult 21.5% | 5.58xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenueGBX 60.07BtotalRevenueNet PP&EGBX 10.77BpropertyPlantEquipmentResult 5.58x | 0.84xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.63BcapitalExpendituresD&AGBX 1.95BdepreciationAndAmortizationResult 0.84x | -GBX 7.17Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 77.82BtotalAssetsGoodwillGBX 21.61BgoodWillIntangiblesGBX 18.88BintangibleAssetsLiabilitiesGBX 56.12BtotalLiabTangible book-GBX 18.79BShares2,620,300,000commonStockSharesOutstandingResult -GBX 7.17 | 1.90xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 13.07BebitdaCapexGBX 1.63BcapitalExpendituresInterestGBX 789.00MinterestExpenseShort-term debtGBX 5.23BshortLongTermDebtEBITDA − capexGBX 11.45BPrincipal due is the current portion of debt.Result 1.90x | GBX 5.66BFree cash flow · 2022-12-31Reported free cash flowOperating cash flowGBX 7.28BtotalCashFromOperatingActivitiesCapexGBX 1.63BcapitalExpendituresFree cash flowGBX 5.66BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 5.66B | 20.1%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 10.76BoperatingIncomeTax expenseGBX 2.07BincomeTaxExpensePretax incomeGBX 10.34BincomeBeforeTaxTax rate20.0%EquityGBX 19.02BtotalStockholderEquityDebtGBX 29.28BshortLongTermDebtTotalCashGBX 5.52BcashAndShortTermInvestmentsInvested capitalGBX 42.78BResult 20.1% | 1.00xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating incomeGBX 10.76BoperatingIncomeNet PP&EGBX 10.77BpropertyPlantEquipmentResult 1.00x |
| 2023 | 21.0%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 10.71BpropertyPlantAndEquipmentNetInventoryGBX 5.12BinventoryTotal assetsGBX 75.27BtotalAssetsResult 21.0% | 5.57xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenueGBX 59.60BtotalRevenueNet PP&EGBX 10.71BpropertyPlantAndEquipmentNetResult 5.57x | 1.11xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.75BcapitalExpendituresD&AGBX 1.58BdepreciationAndAmortizationResult 1.11x | -GBX 8.31Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 75.27BtotalAssetsGoodwillGBX 21.11BgoodWillIntangiblesGBX 18.36BintangibleAssetsLiabilitiesGBX 54.50BtotalLiabTangible book-GBX 18.70BShares2,251,022,000commonStockSharesOutstandingResult -GBX 8.31 | 1.82xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 11.99BebitdaCapexGBX 1.75BcapitalExpendituresInterestGBX 1.08BinterestExpenseShort-term debtGBX 4.57BshortLongTermDebtEBITDA − capexGBX 10.25BPrincipal due is the current portion of debt.Result 1.82x | GBX 7.68BFree cash flow · 2023-12-31Reported free cash flowOperating cash flowGBX 9.43BtotalCashFromOperatingActivitiesCapexGBX 1.75BcapitalExpendituresFree cash flowGBX 7.68BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 7.68B | 18.4%ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 9.76BoperatingIncomeTax expenseGBX 2.20BincomeTaxExpensePretax incomeGBX 9.34BincomeBeforeTaxTax rate23.5%EquityGBX 18.10BtotalStockholderEquityDebtGBX 28.59BshortLongTermDebtTotalCashGBX 6.11BcashAndShortTermInvestmentsInvested capitalGBX 40.59BResult 18.4% | 0.91xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating incomeGBX 9.76BoperatingIncomeNet PP&EGBX 10.71BpropertyPlantAndEquipmentNetResult 0.91x |
| 2024 | 21.1%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 11.67BpropertyPlantAndEquipmentNetInventoryGBX 5.18BinventoryTotal assetsGBX 79.75BtotalAssetsResult 21.1% | 5.21xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenueGBX 60.76BtotalRevenueNet PP&EGBX 11.67BpropertyPlantAndEquipmentNetResult 5.21x | 1.12xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.97BcapitalExpendituresD&AGBX 1.76BdepreciationAndAmortizationResult 1.12x | -GBX 8.23Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 79.75BtotalAssetsGoodwillGBX 22.31BgoodWillIntangiblesGBX 18.59BintangibleAssetsLiabilitiesGBX 57.20BtotalLiabTangible book-GBX 18.35BShares2,228,533,000commonStockSharesOutstandingResult -GBX 8.23 | 1.40xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 11.74BebitdaCapexGBX 1.97BcapitalExpendituresInterestGBX 1.12BinterestExpenseShort-term debtGBX 5.88BshortLongTermDebtEBITDA − capexGBX 9.77BPrincipal due is the current portion of debt.Result 1.40x | GBX 7.55BFree cash flow · 2024-12-31Reported free cash flowOperating cash flowGBX 9.52BtotalCashFromOperatingActivitiesCapexGBX 1.97BcapitalExpendituresFree cash flowGBX 7.55BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 7.55B | 15.7%ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 9.40BoperatingIncomeTax expenseGBX 2.50BincomeTaxExpensePretax incomeGBX 8.87BincomeBeforeTaxTax rate28.2%EquityGBX 19.99BtotalStockholderEquityDebtGBX 30.66BshortLongTermDebtTotalCashGBX 7.63BcashAndShortTermInvestmentsInvested capitalGBX 43.02BResult 15.7% | 0.81xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating incomeGBX 9.40BoperatingIncomeNet PP&EGBX 11.67BpropertyPlantAndEquipmentNetResult 0.81x |
| 2025 | 18.5%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&EGBX 9.00BpropertyPlantAndEquipmentNetInventoryGBX 4.05BinventoryTotal assetsGBX 70.56BtotalAssetsResult 18.5% | 5.61xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenueGBX 50.50BtotalRevenueNet PP&EGBX 9.00BpropertyPlantAndEquipmentNetResult 5.61x | 1.18xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapexGBX 1.59BcapitalExpendituresD&AGBX 1.35BdepreciationAndAmortizationResult 1.18x | -GBX 7.83Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assetsGBX 70.56BtotalAssetsGoodwillGBX 17.73BgoodWillIntangiblesGBX 17.08BintangibleAssetsLiabilitiesGBX 52.95BtotalLiabTangible book-GBX 17.20BShares2,195,300,000commonStockSharesOutstandingResult -GBX 7.83 | 2.99xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDAGBX 11.11BebitdaCapexGBX 1.59BcapitalExpendituresInterestGBX 1.01BinterestExpenseShort-term debtGBX 2.18BshortLongTermDebtEBITDA − capexGBX 9.52BPrincipal due is the current portion of debt.Result 2.99x | GBX 6.76BFree cash flow · 2025-12-31Reported free cash flowOperating cash flowGBX 8.35BtotalCashFromOperatingActivitiesCapexGBX 1.59BcapitalExpendituresFree cash flowGBX 6.76BfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result GBX 6.76B | 17.6%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating incomeGBX 9.90BoperatingIncomeTax expenseGBX 2.44BincomeTaxExpensePretax incomeGBX 8.54BincomeBeforeTaxTax rate28.5%EquityGBX 15.55BtotalStockholderEquityDebtGBX 29.64BshortLongTermDebtTotalCashGBX 5.07BcashAndShortTermInvestmentsInvested capitalGBX 40.12BResult 17.6% | 1.10xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating incomeGBX 9.90BoperatingIncomeNet PP&EGBX 9.00BpropertyPlantAndEquipmentNetResult 1.10x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: GBX 9.00B
Inventory: GBX 4.05B
Total assets: GBX 70.56B
Goodwill: GBX 17.73B
Intangibles: GBX 17.08B
Liabilities: GBX 52.95B
Tangible book: -GBX 17.20B
Shares: 2,195,300,000
Revenue: GBX 50.50B
Capex: GBX 1.59B
D&A: GBX 1.35B
EBITDA: GBX 11.11B
Interest: GBX 1.01B
Short-term debt: GBX 2.18B
Free cash flow: GBX 6.76B
Operating income: GBX 9.90B
Invested capital: GBX 40.12B
Tax rate: 28.5%