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.
Alico Inc
Physical assets are 72.6% of total assets, a heavy footprint. Capex is 0.03x 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 -1.95x, which is below 1.
Fixed-asset turnover is 0.31x. Compare it with other names in the same basket.
Physical asset ratio
72.6%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$142.07MpropertyPlantAndEquipmentNetInventory$4.22MinventoryTotal assets$201.53MtotalAssetsResult 72.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.31xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$44.07MtotalRevenueNet PP&E$142.07MpropertyPlantAndEquipmentNetResult 0.31x
Revenue per dollar of the physical asset base.
Capex / D&A
0.03xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$5.50McapitalExpendituresD&A$176.64MdepreciationAndAmortizationResult 0.03x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$13.84Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$201.53MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$93.53MtotalLiabTangible book$105.75MShares7,639,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $13.84
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.71xPrice / tangible bookPrice / tangible book per sharePrice$37.57Latest quoteTangible book / share$13.842025-09-30Result 2.71x
Price $37.57.
Fixed-charge coverage
-1.95xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.44MebitdaCapex$5.50McapitalExpendituresInterest$4.85MinterestExpenseShort-term debt$250.00KshortTermDebtEBITDA − capex-$9.95MPrincipal due is short-term debt.Result -1.95x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.3%Free cash flow yield · 2025-09-30Latest free cash flow / current market capFree cash flow$14.62MfreeCashFlowMarket cap$277.31MMarketCapitalizationResult 5.3%
Latest free cash flow divided by current market cap ($277.31M).
ROIC
—ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$203.90MoperatingIncomeTax expense-$38.42MincomeTaxExpensePretax income-$185.93MincomeBeforeTaxTax rate—Equity$103.03MtotalStockholderEquityDebt$85.55MshortLongTermDebtTotalCash$38.13McashInvested capital$150.45MROIC 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 -1.44x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 90.1%Physical asset ratio · 2018-09-30(Net PP&E + inventory) / total assetsNet PP&E$340.40MpropertyPlantEquipmentInventory$41.03MinventoryTotal assets$423.42MtotalAssetsResult 90.1% | 0.24xFixed asset turnover · 2018-09-30Revenue / net PP&ERevenue$81.28MtotalRevenueNet PP&E$340.40MpropertyPlantEquipmentResult 0.24x | 1.22xCapex / D&A · 2018-09-30Capital expenditures / depreciation and amortizationCapex$16.78McapitalExpendituresD&A$13.76MdepreciationAndAmortizationResult 1.22x | $20.85Tangible book / share · 2018-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$423.42MtotalAssetsGoodwill$2.25MgoodWillIntangibles$2.25MintangibleAssetsLiabilities$245.83MtotalLiabTangible book$173.10MShares8,301,000commonStockSharesOutstandingResult $20.85 | -0.13xFixed-charge coverage · 2018-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$15.01MebitdaCapex$16.78McapitalExpendituresInterest$8.56MinterestExpenseShort-term debt$5.28MshortTermDebtEBITDA − capex-$1.77MPrincipal due is short-term debt.Result -0.13x | $2.27MFree cash flow · 2018-09-30Reported free cash flowOperating cash flow$19.06MtotalCashFromOperatingActivitiesCapex$16.78McapitalExpendituresFree cash flow$2.27MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.27M | 3.1%ROIC · 2018-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$10.54MoperatingIncomeTax expense$390.00KincomeTaxExpensePretax income$13.19MincomeBeforeTaxTax rate3.0%Equity$177.60MtotalStockholderEquityDebt$177.03MshortLongTermDebtTotalCash$25.26McashInvested capital$329.37MResult 3.1% | 0.03xEBIT / PP&E · 2018-09-30Operating income / net PP&EOperating income$10.54MoperatingIncomeNet PP&E$340.40MpropertyPlantEquipmentResult 0.03x |
| 2019 | 92.4%Physical asset ratio · 2019-09-30(Net PP&E + inventory) / total assetsNet PP&E$345.65MpropertyPlantEquipmentInventory$40.14MinventoryTotal assets$417.39MtotalAssetsResult 92.4% | 0.35xFixed asset turnover · 2019-09-30Revenue / net PP&ERevenue$122.25MtotalRevenueNet PP&E$345.65MpropertyPlantEquipmentResult 0.35x | 1.48xCapex / D&A · 2019-09-30Capital expenditures / depreciation and amortizationCapex$20.11McapitalExpendituresD&A$13.60MdepreciationAndAmortizationResult 1.48x | $26.31Tangible book / share · 2019-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$417.39MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$217.99MtotalLiabTangible book$197.15MShares7,493,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $26.31 | 4.07xFixed-charge coverage · 2019-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$71.02MebitdaCapex$20.11McapitalExpendituresInterest$7.18MinterestExpenseShort-term debt$5.34MshortTermDebtEBITDA − capex$50.91MPrincipal due is short-term debt.Result 4.07x | $28.72MFree cash flow · 2019-09-30Reported free cash flowOperating cash flow$48.83MtotalCashFromOperatingActivitiesCapex$20.11McapitalExpendituresFree cash flow$28.72MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $28.72M | 9.8%ROIC · 2019-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$45.21MoperatingIncomeTax expense$12.78MincomeTaxExpensePretax income$50.23MincomeBeforeTaxTax rate25.4%Equity$199.40MtotalStockholderEquityDebt$163.45MshortLongTermDebtTotalCash$18.63McashInvested capital$344.22MResult 9.8% | 0.13xEBIT / PP&E · 2019-09-30Operating income / net PP&EOperating income$45.21MoperatingIncomeNet PP&E$345.65MpropertyPlantEquipmentResult 0.13x |
| 2020 | 92.2%Physical asset ratio · 2020-09-30(Net PP&E + inventory) / total assetsNet PP&E$350.06MpropertyPlantEquipmentInventory$40.86MinventoryTotal assets$423.94MtotalAssetsResult 92.2% | 0.26xFixed asset turnover · 2020-09-30Revenue / net PP&ERevenue$92.51MtotalRevenueNet PP&E$350.06MpropertyPlantEquipmentResult 0.26x | 1.55xCapex / D&A · 2020-09-30Capital expenditures / depreciation and amortizationCapex$22.16McapitalExpendituresD&A$14.28MdepreciationAndAmortizationResult 1.55x | $29.29Tangible book / share · 2020-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$423.94MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$202.16MtotalLiabTangible book$219.54MShares7,496,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $29.29 | 1.95xFixed-charge coverage · 2020-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$51.64MebitdaCapex$22.16McapitalExpendituresInterest$5.98MinterestExpenseShort-term debt$9.15MshortLongTermDebtEBITDA − capex$29.48MPrincipal due is the current portion of debt.Result 1.95x | -$21.11MFree cash flow · 2020-09-30Reported free cash flowOperating cash flow$1.05MtotalCashFromOperatingActivitiesCapex$22.16McapitalExpendituresFree cash flow-$21.11MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$21.11M | 1.4%ROIC · 2020-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$6.92MoperatingIncomeTax expense$7.66MincomeTaxExpensePretax income$31.38MincomeBeforeTaxTax rate24.4%Equity$216.34MtotalStockholderEquityDebt$150.91MshortLongTermDebtTotalCash$3.16McashInvested capital$364.09MResult 1.4% | 0.02xEBIT / PP&E · 2020-09-30Operating income / net PP&EOperating income$6.92MoperatingIncomeNet PP&E$350.06MpropertyPlantEquipmentResult 0.02x |
| 2021 | 96.2%Physical asset ratio · 2021-09-30(Net PP&E + inventory) / total assetsNet PP&E$373.23MpropertyPlantEquipmentInventory$43.38MinventoryTotal assets$433.22MtotalAssetsResult 96.2% | 0.29xFixed asset turnover · 2021-09-30Revenue / net PP&ERevenue$108.56MtotalRevenueNet PP&E$373.23MpropertyPlantEquipmentResult 0.29x | 2.73xCapex / D&A · 2021-09-30Capital expenditures / depreciation and amortizationCapex$41.24McapitalExpendituresD&A$15.12MdepreciationAndAmortizationResult 2.73x | $32.97Tangible book / share · 2021-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$433.22MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$183.10MtotalLiabTangible book$247.87MShares7,519,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $32.97 | 2.93xFixed-charge coverage · 2021-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$65.50MebitdaCapex$41.24McapitalExpendituresInterest$3.99MinterestExpenseShort-term debt$4.29MshortTermDebtEBITDA − capex$24.26MPrincipal due is short-term debt.Result 2.93x | -$24.73MFree cash flow · 2021-09-30Reported free cash flowOperating cash flow$16.50MtotalCashFromOperatingActivitiesCapex$41.24McapitalExpendituresFree cash flow-$24.73MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$24.73M | 2.9%ROIC · 2021-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$14.44MoperatingIncomeTax expense$11.57MincomeTaxExpensePretax income$46.39MincomeBeforeTaxTax rate24.9%Equity$244.72MtotalStockholderEquityDebt$125.31MshortLongTermDebtTotalCash$886.00KcashInvested capital$369.14MResult 2.9% | 0.04xEBIT / PP&E · 2021-09-30Operating income / net PP&EOperating income$14.44MoperatingIncomeNet PP&E$373.23MpropertyPlantEquipmentResult 0.04x |
| 2022 | 97.8%Physical asset ratio · 2022-09-30(Net PP&E + inventory) / total assetsNet PP&E$372.48MpropertyPlantEquipmentInventory$27.68MinventoryTotal assets$409.26MtotalAssetsResult 97.8% | 0.25xFixed asset turnover · 2022-09-30Revenue / net PP&ERevenue$91.95MtotalRevenueNet PP&E$372.48MpropertyPlantEquipmentResult 0.25x | 1.37xCapex / D&A · 2022-09-30Capital expenditures / depreciation and amortizationCapex$20.87McapitalExpendituresD&A$15.23MdepreciationAndAmortizationResult 1.37x | $32.59Tangible book / share · 2022-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$409.26MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$160.39MtotalLiabTangible book$246.62MShares7,568,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $32.59 | 1.67xFixed-charge coverage · 2022-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$31.51MebitdaCapex$20.87McapitalExpendituresInterest$3.32MinterestExpenseShort-term debt$3.04MshortTermDebtEBITDA − capex$10.64MPrincipal due is short-term debt.Result 1.67x | -$14.34MFree cash flow · 2022-09-30Reported free cash flowOperating cash flow$6.52MtotalCashFromOperatingActivitiesCapex$20.87McapitalExpendituresFree cash flow-$14.34MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$14.34M | -6.4%ROIC · 2022-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$24.84MoperatingIncomeTax expense$1.07MincomeTaxExpensePretax income$12.96MincomeBeforeTaxTax rate8.3%Equity$243.74MtotalStockholderEquityDebt$110.88MshortLongTermDebtTotalCash$865.00KcashInvested capital$353.75MResult -6.4% | -0.07xEBIT / PP&E · 2022-09-30Operating income / net PP&EOperating income-$24.84MoperatingIncomeNet PP&E$372.48MpropertyPlantEquipmentResult -0.07x |
| 2023 | 96.7%Physical asset ratio · 2023-09-30(Net PP&E + inventory) / total assetsNet PP&E$361.85MpropertyPlantAndEquipmentNetInventory$52.48MinventoryTotal assets$428.35MtotalAssetsResult 96.7% | 0.11xFixed asset turnover · 2023-09-30Revenue / net PP&ERevenue$39.85MtotalRevenueNet PP&E$361.85MpropertyPlantAndEquipmentNetResult 0.11x | 1.08xCapex / D&A · 2023-09-30Capital expenditures / depreciation and amortizationCapex$16.66McapitalExpendituresD&A$15.49MdepreciationAndAmortizationResult 1.08x | $32.64Tangible book / share · 2023-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$428.35MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$177.98MtotalLiabTangible book$248.13MShares7,602,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $32.64 | 0.83xFixed-charge coverage · 2023-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$22.86MebitdaCapex$16.66McapitalExpendituresInterest$4.91MinterestExpenseShort-term debt$2.57MshortTermDebtEBITDA − capex$6.20MPrincipal due is short-term debt.Result 0.83x | -$22.91MFree cash flow · 2023-09-30Reported free cash flowOperating cash flow-$6.25MtotalCashFromOperatingActivitiesCapex$16.66McapitalExpendituresFree cash flow-$22.91MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$22.91M | -0.8%ROIC · 2023-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.20MoperatingIncomeTax expense$801.00KincomeTaxExpensePretax income$2.46MincomeBeforeTaxTax rate32.6%Equity$244.99MtotalStockholderEquityDebt$128.70MshortLongTermDebtTotalCash$1.06McashInvested capital$372.63MResult -0.8% | -0.01xEBIT / PP&E · 2023-09-30Operating income / net PP&EOperating income-$4.20MoperatingIncomeNet PP&E$361.85MpropertyPlantAndEquipmentNetResult -0.01x |
| 2024 | 96.0%Physical asset ratio · 2024-09-30(Net PP&E + inventory) / total assetsNet PP&E$352.73MpropertyPlantAndEquipmentNetInventory$30.08MinventoryTotal assets$398.72MtotalAssetsResult 96.0% | 0.13xFixed asset turnover · 2024-09-30Revenue / net PP&ERevenue$46.64MtotalRevenueNet PP&E$352.73MpropertyPlantAndEquipmentNetResult 0.13x | 1.19xCapex / D&A · 2024-09-30Capital expenditures / depreciation and amortizationCapex$17.87McapitalExpendituresD&A$15.01MdepreciationAndAmortizationResult 1.19x | $33.33Tangible book / share · 2024-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$398.72MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$142.42MtotalLiabTangible book$254.05MShares7,622,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $33.33 | 2.35xFixed-charge coverage · 2024-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA$29.50MebitdaCapex$17.87McapitalExpendituresInterest$3.54MinterestExpenseShort-term debt$1.41MshortTermDebtEBITDA − capex$11.63MPrincipal due is short-term debt.Result 2.35x | -$48.37MFree cash flow · 2024-09-30Reported free cash flowOperating cash flow-$30.50MtotalCashFromOperatingActivitiesCapex$17.87McapitalExpendituresFree cash flow-$48.37MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$48.37M | -11.9%ROIC · 2024-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$67.45MoperatingIncomeTax expense$4.60MincomeTaxExpensePretax income$10.95MincomeBeforeTaxTax rate40.0%Equity$251.16MtotalStockholderEquityDebt$92.12MshortLongTermDebtTotalCash$3.15McashInvested capital$340.13MThe effective tax rate was above 40% and was capped at 40%.Result -11.9% | -0.19xEBIT / PP&E · 2024-09-30Operating income / net PP&EOperating income-$67.45MoperatingIncomeNet PP&E$352.73MpropertyPlantAndEquipmentNetResult -0.19x |
| 2025 | 72.6%Physical asset ratio · 2025-09-30(Net PP&E + inventory) / total assetsNet PP&E$142.07MpropertyPlantAndEquipmentNetInventory$4.22MinventoryTotal assets$201.53MtotalAssetsResult 72.6% | 0.31xFixed asset turnover · 2025-09-30Revenue / net PP&ERevenue$44.07MtotalRevenueNet PP&E$142.07MpropertyPlantAndEquipmentNetResult 0.31x | 0.03xCapex / D&A · 2025-09-30Capital expenditures / depreciation and amortizationCapex$5.50McapitalExpendituresD&A$176.64MdepreciationAndAmortizationResult 0.03x | $13.84Tangible book / share · 2025-09-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$201.53MtotalAssetsGoodwill$2.25MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$93.53MtotalLiabTangible book$105.75MShares7,639,000commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $13.84 | -1.95xFixed-charge coverage · 2025-09-30(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.44MebitdaCapex$5.50McapitalExpendituresInterest$4.85MinterestExpenseShort-term debt$250.00KshortTermDebtEBITDA − capex-$9.95MPrincipal due is short-term debt.Result -1.95x | $14.62MFree cash flow · 2025-09-30Reported free cash flowOperating cash flow$20.13MtotalCashFromOperatingActivitiesCapex$5.50McapitalExpendituresFree cash flow$14.62MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $14.62M | —ROIC · 2025-09-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$203.90MoperatingIncomeTax expense-$38.42MincomeTaxExpensePretax income-$185.93MincomeBeforeTaxTax rate—Equity$103.03MtotalStockholderEquityDebt$85.55MshortLongTermDebtTotalCash$38.13McashInvested capital$150.45MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.44xEBIT / PP&E · 2025-09-30Operating income / net PP&EOperating income-$203.90MoperatingIncomeNet PP&E$142.07MpropertyPlantAndEquipmentNetResult -1.44x |
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $142.07M
Inventory: $4.22M
Total assets: $201.53M
Goodwill: $2.25M
Intangibles: $0.00
Liabilities: $93.53M
Tangible book: $105.75M
Shares: 7,639,000
Revenue: $44.07M
Capex: $5.50M
D&A: $176.64M
EBITDA: -$4.44M
Interest: $4.85M
Short-term debt: $250.00K
Free cash flow: $14.62M
Operating income: -$203.90M
Invested capital: $150.45M
Tax rate: —