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.
ACCESS Newswire Inc.
Physical assets are 1.1% of total assets, a light footprint. Capex is 0.01x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 49.17x.
Physical asset ratio
1.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$460.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$41.99MtotalAssetsInventory was not reported and is treated as zero.Result 1.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
49.17xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$22.62MtotalRevenueNet PP&E$460.00KpropertyPlantAndEquipmentNetResult 49.17x
Revenue per dollar of the physical asset base.
Capex / D&A
0.01xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$20.00KcapitalExpendituresD&A$2.99MdepreciationAndAmortizationResult 0.01x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.26Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$41.99MtotalAssetsGoodwill$19.04MgoodWillIntangibles$10.30MintangibleAssetsLiabilities$11.65MtotalLiabTangible book$999.00KShares3,859,000commonStockSharesOutstandingResult $0.26
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
15.03xPrice / tangible bookPrice / tangible book per sharePrice$3.89Latest quoteTangible book / share$0.262025-12-31Result 15.03x
Price $3.89.
Fixed-charge coverage
1.12xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.41MebitdaCapex$20.00KcapitalExpendituresInterest$371.00KinterestExpenseShort-term debt$870.00KshortTermDebtEBITDA − capex$1.39MPrincipal due is short-term debt.Result 1.12x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.4%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$538.00KfreeCashFlowMarket cap$16.00MMarketCapitalizationResult 3.4%
Latest free cash flow divided by current market cap ($16.00M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.37MoperatingIncomeTax expense-$395.00KincomeTaxExpensePretax income-$1.95MincomeBeforeTaxTax rate—Equity$30.35MtotalStockholderEquityDebt$2.87MshortLongTermDebtTotalCash$3.03McashInvested capital$30.19MROIC 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 -2.97x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.5%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$132.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$28.95MtotalAssetsInventory was not reported and is treated as zero.Result 0.5% | 107.82xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$14.23MtotalRevenueNet PP&E$132.00KpropertyPlantAndEquipmentNetResult 107.82x | 0.05xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$72.00KcapitalExpendituresD&A$1.40MdepreciationAndAmortizationResult 0.05x | $4.58Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$28.95MtotalAssetsGoodwill$5.03MgoodWillIntangibles$4.76MintangibleAssetsLiabilities$3.29MtotalLiabTangible book$15.87MShares3,463,000commonStockSharesOutstandingResult $4.58 | —Fixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$2.56MebitdaCapex$72.00KcapitalExpendituresInterest—Not reportedShort-term debt$320.00KshortTermDebtEBITDA − capex$2.49MPrincipal due is short-term debt.Result — | $2.80MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$2.87MtotalCashFromOperatingActivitiesCapex$72.00KcapitalExpendituresFree cash flow$2.80MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.80M | 8.9%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.16MoperatingIncomeTax expense$373.00KincomeTaxExpensePretax income$1.21MincomeBeforeTaxTax rate30.8%Equity$25.66MtotalStockholderEquityDebt$596.00KshortLongTermDebtTotalCash$17.22McashInvested capital$9.04MResult 8.9% | 8.81xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$1.16MoperatingIncomeNet PP&E$132.00KpropertyPlantAndEquipmentNetResult 8.81x |
| 2019 | 9.3%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$3.03MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$32.39MtotalAssetsInventory was not reported and is treated as zero.Result 9.3% | 5.38xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$16.30MtotalRevenueNet PP&E$3.03MpropertyPlantAndEquipmentNetResult 5.38x | 0.26xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$440.00KcapitalExpendituresD&A$1.67MdepreciationAndAmortizationResult 0.26x | $3.90Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$32.39MtotalAssetsGoodwill$6.38MgoodWillIntangibles$4.65MintangibleAssetsLiabilities$6.29MtotalLiabTangible book$15.08MShares3,861,000commonStockSharesOutstandingResult $3.90 | —Fixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$2.14MebitdaCapex$440.00KcapitalExpendituresInterest—Not reportedShort-term debt$301.00KshortTermDebtEBITDA − capex$1.70MPrincipal due is short-term debt.Result — | $2.42MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$2.86MtotalCashFromOperatingActivitiesCapex$440.00KcapitalExpendituresFree cash flow$2.42MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.42M | 3.2%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$474.00KoperatingIncomeTax expense$109.00KincomeTaxExpensePretax income$795.00KincomeBeforeTaxTax rate13.7%Equity$26.10MtotalStockholderEquityDebt$2.61MshortLongTermDebtTotalCash$15.77McashInvested capital$12.94MResult 3.2% | 0.16xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$474.00KoperatingIncomeNet PP&E$3.03MpropertyPlantAndEquipmentNetResult 0.16x |
| 2020 | 7.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.63MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$34.89MtotalAssetsInventory was not reported and is treated as zero.Result 7.5% | 7.06xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$18.53MtotalRevenueNet PP&E$2.63MpropertyPlantAndEquipmentNetResult 7.06x | 0.02xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$27.00KcapitalExpendituresD&A$1.35MdepreciationAndAmortizationResult 0.02x | $4.85Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$34.89MtotalAssetsGoodwill$6.38MgoodWillIntangibles$3.43MintangibleAssetsLiabilities$6.75MtotalLiabTangible book$18.33MShares3,784,000commonStockSharesOutstandingResult $4.85 | —Fixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$4.04MebitdaCapex$27.00KcapitalExpendituresInterest—Not reportedShort-term debt$390.00KshortTermDebtEBITDA − capex$4.02MPrincipal due is short-term debt.Result — | $4.36MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$4.39MtotalCashFromOperatingActivitiesCapex$27.00KcapitalExpendituresFree cash flow$4.36MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4.36M | 19.0%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$2.69MoperatingIncomeTax expense$724.00KincomeTaxExpensePretax income$2.83MincomeBeforeTaxTax rate25.6%Equity$28.14MtotalStockholderEquityDebt$1.97MshortLongTermDebtTotalCash$19.56McashInvested capital$10.56MResult 19.0% | 1.03xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$2.69MoperatingIncomeNet PP&E$2.63MpropertyPlantAndEquipmentNetResult 1.03x |
| 2021 | 5.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.25MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$39.26MtotalAssetsInventory was not reported and is treated as zero.Result 5.7% | 9.74xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$21.88MtotalRevenueNet PP&E$2.25MpropertyPlantAndEquipmentNetResult 9.74x | 0.24xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$277.00KcapitalExpendituresD&A$1.14MdepreciationAndAmortizationResult 0.24x | $5.92Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$39.26MtotalAssetsGoodwill$6.38MgoodWillIntangibles$2.65MintangibleAssetsLiabilities$7.64MtotalLiabTangible book$22.60MShares3,820,000commonStockSharesOutstandingResult $5.92 | —Fixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$5.26MebitdaCapex$277.00KcapitalExpendituresInterest—Not reportedShort-term debt$358.00KshortTermDebtEBITDA − capex$4.98MPrincipal due is short-term debt.Result — | $4.45MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$4.73MtotalCashFromOperatingActivitiesCapex$277.00KcapitalExpendituresFree cash flow$4.45MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $4.45M | 30.6%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3.74MoperatingIncomeTax expense$821.00KincomeTaxExpensePretax income$4.11MincomeBeforeTaxTax rate20.0%Equity$31.62MtotalStockholderEquityDebt$2.02MshortLongTermDebtTotalCash$23.85McashInvested capital$9.79MResult 30.6% | 1.67xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$3.74MoperatingIncomeNet PP&E$2.25MpropertyPlantAndEquipmentNetResult 1.67x |
| 2022 | 2.9%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.90MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$66.33MtotalAssetsInventory was not reported and is treated as zero.Result 2.9% | 12.36xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$23.51MtotalRevenueNet PP&E$1.90MpropertyPlantAndEquipmentNetResult 12.36x | 0.06xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$66.00KcapitalExpendituresD&A$1.03MdepreciationAndAmortizationResult 0.06x | -$5.79Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$66.33MtotalAssetsGoodwill$22.50MgoodWillIntangibles$32.37MintangibleAssetsLiabilities$33.10MtotalLiabTangible book-$21.64MShares3,740,000commonStockSharesOutstandingResult -$5.79 | 0.18xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$4.06MebitdaCapex$66.00KcapitalExpendituresInterest$11.00KinterestExpenseShort-term debt$22.00MshortTermDebtEBITDA − capex$3.99MPrincipal due is short-term debt.Result 0.18x | $3.95MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$4.02MtotalCashFromOperatingActivitiesCapex$66.00KcapitalExpendituresFree cash flow$3.95MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $3.95M | 3.8%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$2.67MoperatingIncomeTax expense$724.00KincomeTaxExpensePretax income$2.66MincomeBeforeTaxTax rate27.2%Equity$33.22MtotalStockholderEquityDebt$23.34MshortLongTermDebtTotalCash$4.83McashInvested capital$51.73MResult 3.8% | 1.40xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$2.67MoperatingIncomeNet PP&E$1.90MpropertyPlantAndEquipmentNetResult 1.40x |
| 2023 | 2.3%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.52MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$65.15MtotalAssetsInventory was not reported and is treated as zero.Result 2.3% | 16.16xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$24.52MtotalRevenueNet PP&E$1.52MpropertyPlantAndEquipmentNetResult 16.16x | 0.01xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$25.00KcapitalExpendituresD&A$2.79MdepreciationAndAmortizationResult 0.01x | -$3.37Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$65.15MtotalAssetsGoodwill$19.04MgoodWillIntangibles$29.24MintangibleAssetsLiabilities$29.73MtotalLiabTangible book-$12.86MShares3,816,000commonStockSharesOutstandingResult -$3.37 | -0.07xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$342.00KebitdaCapex$25.00KcapitalExpendituresInterest$1.25MinterestExpenseShort-term debt$4.00MshortTermDebtEBITDA − capex-$367.00KPrincipal due is short-term debt.Result -0.07x | $3.04MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$3.06MtotalCashFromOperatingActivitiesCapex$25.00KcapitalExpendituresFree cash flow$3.04MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $3.04M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.74MoperatingIncomeTax expense-$938.00KincomeTaxExpensePretax income-$4.38MincomeBeforeTaxTax rate—Equity$35.42MtotalStockholderEquityDebt$20.92MshortLongTermDebtTotalCash$5.71McashInvested capital$50.63MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.81xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$2.74MoperatingIncomeNet PP&E$1.52MpropertyPlantAndEquipmentNetResult -1.81x |
| 2024 | 2.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.13MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$55.44MtotalAssetsInventory was not reported and is treated as zero.Result 2.0% | 20.39xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$23.06MtotalRevenueNet PP&E$1.13MpropertyPlantAndEquipmentNetResult 20.39x | 0.21xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$616.00KcapitalExpendituresD&A$2.93MdepreciationAndAmortizationResult 0.21x | -$1.76Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$55.44MtotalAssetsGoodwill$19.04MgoodWillIntangibles$12.91MintangibleAssetsLiabilities$30.21MtotalLiabTangible book-$6.73MShares3,827,000commonStockSharesOutstandingResult -$1.76 | -2.70xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$13.31MebitdaCapex$616.00KcapitalExpendituresInterest$1.17MinterestExpenseShort-term debt$4.00MshortTermDebtEBITDA − capex-$13.93MPrincipal due is short-term debt.Result -2.70x | $2.54MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$3.16MtotalCashFromOperatingActivitiesCapex$616.00KcapitalExpendituresFree cash flow$2.54MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.54M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$16.32MoperatingIncomeTax expense-$4.06MincomeTaxExpensePretax income-$17.35MincomeBeforeTaxTax rate—Equity$25.23MtotalStockholderEquityDebt$16.60MshortLongTermDebtTotalCash$4.10McashInvested capital$37.72MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -14.43xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$16.32MoperatingIncomeNet PP&E$1.13MpropertyPlantAndEquipmentNetResult -14.43x |
| 2025 | 1.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$460.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$41.99MtotalAssetsInventory was not reported and is treated as zero.Result 1.1% | 49.17xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$22.62MtotalRevenueNet PP&E$460.00KpropertyPlantAndEquipmentNetResult 49.17x | 0.01xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$20.00KcapitalExpendituresD&A$2.99MdepreciationAndAmortizationResult 0.01x | $0.26Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$41.99MtotalAssetsGoodwill$19.04MgoodWillIntangibles$10.30MintangibleAssetsLiabilities$11.65MtotalLiabTangible book$999.00KShares3,859,000commonStockSharesOutstandingResult $0.26 | 1.12xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.41MebitdaCapex$20.00KcapitalExpendituresInterest$371.00KinterestExpenseShort-term debt$870.00KshortTermDebtEBITDA − capex$1.39MPrincipal due is short-term debt.Result 1.12x | $538.00KFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$558.00KtotalCashFromOperatingActivitiesCapex$20.00KcapitalExpendituresFree cash flow$538.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $538.00K | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.37MoperatingIncomeTax expense-$395.00KincomeTaxExpensePretax income-$1.95MincomeBeforeTaxTax rate—Equity$30.35MtotalStockholderEquityDebt$2.87MshortLongTermDebtTotalCash$3.03McashInvested capital$30.19MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.97xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$1.37MoperatingIncomeNet PP&E$460.00KpropertyPlantAndEquipmentNetResult -2.97x |
- 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: $460.00K
Inventory: $0.00
Total assets: $41.99M
Goodwill: $19.04M
Intangibles: $10.30M
Liabilities: $11.65M
Tangible book: $999.00K
Shares: 3,859,000
Revenue: $22.62M
Capex: $20.00K
D&A: $2.99M
EBITDA: $1.41M
Interest: $371.00K
Short-term debt: $870.00K
Free cash flow: $538.00K
Operating income: -$1.37M
Invested capital: $30.19M
Tax rate: —