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.
AGIG
Physical assets are 27.4% of total assets, a light footprint. Capex is 45.66x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -4.61x, which is below 1.
Utilities often turn net PP&E at about 0.3x to 1.0x. This name is at 0.05x.
Physical asset ratio
27.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$8.73MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$31.86MtotalAssetsInventory was not reported and is treated as zero.Result 27.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.05xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$410.63KtotalRevenueNet PP&E$8.73MpropertyPlantAndEquipmentNetResult 0.05x
Revenue per dollar of the physical asset base.
Capex / D&A
45.66xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$10.05McapitalExpendituresD&A$220.02KdepreciationAndAmortizationResult 45.66x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.14Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$31.86MtotalAssetsGoodwill$12.99MgoodWillIntangibles$1.40MintangibleAssetsLiabilities$12.84MtotalLiabTangible book$4.63MShares32,847,237commonStockSharesOutstandingResult $0.14
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
6.76xPrice / tangible bookPrice / tangible book per sharePrice$0.95Latest quoteTangible book / share$0.142025-12-31Result 6.76x
Price $0.95.
Fixed-charge coverage
-4.61xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$11.14MebitdaCapex$10.05McapitalExpendituresInterest$625.60KinterestExpenseShort-term debt$3.97MshortLongTermDebtEBITDA − capex-$21.18MPrincipal due is the current portion of debt.Result -4.61x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-42.1%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$18.10MfreeCashFlowMarket cap$42.97MMarketCapitalizationResult -42.1%
Latest free cash flow divided by current market cap ($42.97M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$11.36MoperatingIncomeTax expense$0.00taxProvisionPretax income-$29.46MincomeBeforeTaxTax rate—Equity$19.01MtotalStockholderEquityDebt$10.39MshortLongTermDebtTotalCash$4.62McashInvested capital$24.79MROIC 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 -1.30x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 87.7%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$6.86MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$7.82MtotalAssetsInventory was not reported and is treated as zero.Result 87.7% | 0.34xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$2.36MtotalRevenueNet PP&E$6.86MpropertyPlantAndEquipmentNetResult 0.34x | 1.40xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$505.41KcapitalExpendituresD&A$360.92KdepreciationAndAmortizationResult 1.40x | $15.83Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.82MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$145.48KtotalLiabTangible book$7.68MShares484,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $15.83 | —Fixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$109.58KebitdaCapex$505.41KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$395.83KResult — | -$144.62KFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$360.79KtotalCashFromOperatingActivitiesCapex$505.41KcapitalExpendituresFree cash flow-$144.62KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$144.62K | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$337.99KoperatingIncomeTax expense—Not reportedPretax income-$251.34KincomeBeforeTaxTax rate—Equity$7.68MtotalStockholderEquityDebt—Not reportedCash$755.70KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.05xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-$337.99KoperatingIncomeNet PP&E$6.86MpropertyPlantAndEquipmentNetResult -0.05x |
| 2019 | 94.1%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$6.65MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$7.07MtotalAssetsInventory was not reported and is treated as zero.Result 94.1% | 0.15xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$997.99KtotalRevenueNet PP&E$6.65MpropertyPlantAndEquipmentNetResult 0.15x | 1.34xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$692.32KcapitalExpendituresD&A$515.05KdepreciationAndAmortizationResult 1.34x | $11.07Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.07MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.23MtotalLiabTangible book$5.84MShares527,600commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $11.07 | -2.85xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.82MebitdaCapex$692.32KcapitalExpendituresInterest$183.97KinterestExpenseShort-term debt$695.48KshortTermDebtEBITDA − capex-$2.51MPrincipal due is short-term debt.Result -2.85x | -$1.42MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$725.02KtotalCashFromOperatingActivitiesCapex$692.32KcapitalExpendituresFree cash flow-$1.42MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.42M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.33MoperatingIncomeTax expense—Not reportedPretax income-$2.52MincomeBeforeTaxTax rate—Equity$5.84MtotalStockholderEquityDebt$914.89KshortLongTermDebtTotalCash$97.92KcashInvested capital$6.66MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.35xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$2.33MoperatingIncomeNet PP&E$6.65MpropertyPlantAndEquipmentNetResult -0.35x |
| 2020 | 76.1%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.20MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$6.84MtotalAssetsInventory was not reported and is treated as zero.Result 76.1% | 0.11xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$552.35KtotalRevenueNet PP&E$5.20MpropertyPlantAndEquipmentNetResult 0.11x | 3.34xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$1.51McapitalExpendituresD&A$452.18KdepreciationAndAmortizationResult 3.34x | $9.28Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.84MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$403.45KtotalLiabTangible book$6.44MShares693,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $9.28 | -35.57xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$3.55MebitdaCapex$1.51McapitalExpendituresInterest$31.76KinterestExpenseShort-term debt$110.58KshortTermDebtEBITDA − capex-$5.06MPrincipal due is short-term debt.Result -35.57x | -$2.37MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$864.79KtotalCashFromOperatingActivitiesCapex$1.51McapitalExpendituresFree cash flow-$2.37MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$2.37M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.18MoperatingIncomeTax expense—Not reportedPretax income-$4.04MincomeBeforeTaxTax rate—Equity$6.44MtotalStockholderEquityDebt$218.44KshortLongTermDebtTotalCash$1.24McashInvested capital$5.41MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.80xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$4.18MoperatingIncomeNet PP&E$5.20MpropertyPlantAndEquipmentNetResult -0.80x |
| 2021 | 47.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.08MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$10.73MtotalAssetsInventory was not reported and is treated as zero.Result 47.3% | 0.26xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$1.33MtotalRevenueNet PP&E$5.08MpropertyPlantAndEquipmentNetResult 0.26x | 0.13xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$42.81KcapitalExpendituresD&A$323.92KdepreciationAndAmortizationResult 0.13x | $10.66Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$10.73MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$421.91KtotalLiabTangible book$10.31MShares967,200commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $10.66 | -12.88xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$697.31KebitdaCapex$42.81KcapitalExpendituresInterest$296.00interestExpenseShort-term debt$57.17KshortTermDebtEBITDA − capex-$740.12KPrincipal due is short-term debt.Result -12.88x | -$723.50KFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$680.69KtotalCashFromOperatingActivitiesCapex$42.81KcapitalExpendituresFree cash flow-$723.50KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$723.50K | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.03MoperatingIncomeTax expense—Not reportedPretax income-$1.02MincomeBeforeTaxTax rate—Equity$10.31MtotalStockholderEquityDebt$268.92KshortLongTermDebtTotalCash$4.89McashInvested capital$5.69MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.20xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$1.03MoperatingIncomeNet PP&E$5.08MpropertyPlantAndEquipmentNetResult -0.20x |
| 2022 | 41.3%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$4.84MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$11.73MtotalAssetsInventory was not reported and is treated as zero.Result 41.3% | 0.34xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$1.64MtotalRevenueNet PP&E$4.84MpropertyPlantAndEquipmentNetResult 0.34x | 0.06xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$15.05KcapitalExpendituresD&A$265.76KdepreciationAndAmortizationResult 0.06x | $11.36Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$11.73MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$414.31KtotalLiabTangible book$11.32MShares996,100commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $11.36 | —Fixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$512.16KebitdaCapex$15.05KcapitalExpendituresInterest—Not reportedShort-term debt$65.39KshortTermDebtEBITDA − capex-$527.20KPrincipal due is short-term debt.Result — | -$244.01KFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$228.96KtotalCashFromOperatingActivitiesCapex$15.05KcapitalExpendituresFree cash flow-$244.01KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$244.01K | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$777.92KoperatingIncomeTax expense—Not reportedPretax income-$744.28KincomeBeforeTaxTax rate—Equity$11.32MtotalStockholderEquityDebt$211.74KshortLongTermDebtTotalCash$4.55McashInvested capital$6.98MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.16xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$777.92KoperatingIncomeNet PP&E$4.84MpropertyPlantAndEquipmentNetResult -0.16x |
| 2023 | 16.4%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.70MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$10.38MtotalAssetsInventory was not reported and is treated as zero.Result 16.4% | 0.47xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$794.03KtotalRevenueNet PP&E$1.70MpropertyPlantAndEquipmentNetResult 0.47x | 112.11xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$594.16KcapitalExpendituresD&A$5.30KdepreciationAndAmortizationResult 112.11x | $8.38Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$10.38MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$841.63KintangibleAssetsLiabilities$383.10KtotalLiabTangible book$9.15MShares1,092,800commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $8.38 | -1.54xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$3.21MebitdaCapex$594.16KcapitalExpendituresInterest$2.40MinterestExpenseShort-term debt$75.28KshortTermDebtEBITDA − capex-$3.80MPrincipal due is short-term debt.Result -1.54x | -$3.05MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$2.46MtotalCashFromOperatingActivitiesCapex$594.16KcapitalExpendituresFree cash flow-$3.05MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$3.05M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.58MoperatingIncomeTax expense—Not reportedPretax income-$3.21MincomeBeforeTaxTax rate—Equity$10.00MtotalStockholderEquityDebt$146.36KshortLongTermDebtTotalCash$4.06McashInvested capital$6.08MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.69xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$4.58MoperatingIncomeNet PP&E$1.70MpropertyPlantAndEquipmentNetResult -2.69x |
| 2024 | 0.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$312.00propertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$4.11MtotalAssetsInventory was not reported and is treated as zero.Result 0.0% | 1,795.45xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$560.18KtotalRevenueNet PP&E$312.00propertyPlantAndEquipmentNetResult 1,795.45x | 0.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$5.00capitalExpendituresD&A$235.12KdepreciationAndAmortizationResult 0.00x | -$2.96Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.11MtotalAssetsGoodwill$0.00goodWillIntangibles$1.15MintangibleAssetsLiabilities$6.19MtotalLiabTangible book-$3.22MShares1,090,600commonStockSharesOutstandingResult -$2.96 | -1.27xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$7.98MebitdaCapex$5.00capitalExpendituresInterest$401.10KinterestExpenseShort-term debt$5.86MshortTermDebtEBITDA − capex-$7.98MPrincipal due is short-term debt.Result -1.27x | -$1.54MFree cash flow · 2024-12-31Operating cash flow − capexOperating cash flow-$1.54MtotalCashFromOperatingActivitiesCapex$5.00capitalExpendituresFree cash flow-$1.54MNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$1.54M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.57MoperatingIncomeTax expense$0.00taxProvisionPretax income-$8.22MincomeBeforeTaxTax rate—Equity-$2.05MtotalStockholderEquityDebt$5.86MshortLongTermDebtTotalCash$525.81KcashInvested capital$3.28MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -8,243.39xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$2.57MoperatingIncomeNet PP&E$312.00propertyPlantAndEquipmentNetResult -8,243.39x |
| 2025 | 27.4%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$8.73MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$31.86MtotalAssetsInventory was not reported and is treated as zero.Result 27.4% | 0.05xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$410.63KtotalRevenueNet PP&E$8.73MpropertyPlantAndEquipmentNetResult 0.05x | 45.66xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$10.05McapitalExpendituresD&A$220.02KdepreciationAndAmortizationResult 45.66x | $0.14Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$31.86MtotalAssetsGoodwill$12.99MgoodWillIntangibles$1.40MintangibleAssetsLiabilities$12.84MtotalLiabTangible book$4.63MShares32,847,237commonStockSharesOutstandingResult $0.14 | -4.61xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$11.14MebitdaCapex$10.05McapitalExpendituresInterest$625.60KinterestExpenseShort-term debt$3.97MshortLongTermDebtEBITDA − capex-$21.18MPrincipal due is the current portion of debt.Result -4.61x | -$18.10MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$8.05MtotalCashFromOperatingActivitiesCapex$10.05McapitalExpendituresFree cash flow-$18.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$18.10M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$11.36MoperatingIncomeTax expense$0.00taxProvisionPretax income-$29.46MincomeBeforeTaxTax rate—Equity$19.01MtotalStockholderEquityDebt$10.39MshortLongTermDebtTotalCash$4.62McashInvested capital$24.79MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.30xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$11.36MoperatingIncomeNet PP&E$8.73MpropertyPlantAndEquipmentNetResult -1.30x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $8.73M
Inventory: $0.00
Total assets: $31.86M
Goodwill: $12.99M
Intangibles: $1.40M
Liabilities: $12.84M
Tangible book: $4.63M
Shares: 32,847,237
Revenue: $410.63K
Capex: $10.05M
D&A: $220.02K
EBITDA: -$11.14M
Interest: $625.60K
Short-term debt: $3.97M
Free cash flow: -$18.10M
Operating income: -$11.36M
Invested capital: $24.79M
Tax rate: —