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.
Avante Logixx Inc
Physical assets are 14.1% of total assets, a light footprint. Capex is 0.64x 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 -3.84x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 14.21x.
Physical asset ratio
14.1%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.62MpropertyPlantAndEquipmentNetInventory$892.58KinventoryTotal assets$24.95MtotalAssetsResult 14.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
14.21xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue$37.23MtotalRevenueNet PP&E$2.62MpropertyPlantAndEquipmentNetResult 14.21x
Revenue per dollar of the physical asset base.
Capex / D&A
0.64xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$1.05McapitalExpendituresD&A$1.64MdepreciationAndAmortizationResult 0.64x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.15Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$24.95MtotalAssetsGoodwill$4.44MgoodWillIntangibles$1.90MintangibleAssetsLiabilities$14.61MtotalLiabTangible book$4.00MShares26,648,739commonStockSharesOutstandingResult $0.15
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
5.77xPrice / tangible bookPrice / tangible book per sharePrice$0.87Latest quoteTangible book / share$0.152026-03-31Result 5.77x
Price $0.87.
Fixed-charge coverage
-3.84xFixed-charge coverage · 2026-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$518.00KebitdaCapex$1.05McapitalExpendituresInterest$295.28KinterestExpenseShort-term debt$111.29KshortLongTermDebtEBITDA − capex-$1.56MPrincipal due is the current portion of debt.Result -3.84x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
23.0%Free cash flow yield · 2026-03-31Latest free cash flow / current market capFree cash flow$2.75MfreeCashFlowMarket cap$11.99MMarketCapitalizationResult 23.0%
Latest free cash flow divided by current market cap ($11.99M).
ROIC
—ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$66.51KoperatingIncomeTax expense$78.72KincomeTaxExpensePretax income-$2.45MincomeBeforeTaxTax rate—Equity$10.25MtotalStockholderEquityDebt$111.29KlongTermDebt + shortLongTermDebtCash$6.22McashInvested capital$4.14MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC 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 -0.03x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 11.8%Physical asset ratio · 2019-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.47MpropertyPlantAndEquipmentNetInventory$1.55MinventoryTotal assets$34.17MtotalAssetsResult 11.8% | 12.97xFixed asset turnover · 2019-03-31Revenue / net PP&ERevenue$32.08MtotalRevenueNet PP&E$2.47MpropertyPlantAndEquipmentNetResult 12.97x | 1.14xCapex / D&A · 2019-03-31Capital expenditures / depreciation and amortizationCapex$1.43McapitalExpendituresD&A$1.25MdepreciationAndAmortizationResult 1.14x | $0.17Tangible book / share · 2019-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$34.17MtotalAssetsGoodwill$8.16MgoodWillIntangibles$6.54MintangibleAssetsLiabilities$16.15MtotalLiabTangible book$3.32MShares20,105,211commonStockSharesOutstandingResult $0.17 | -1.08xFixed-charge coverage · 2019-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.91MebitdaCapex$1.43McapitalExpendituresInterest$342.71KinterestExpenseShort-term debt$2.75MshortLongTermDebtEBITDA − capex-$3.34MPrincipal due is the current portion of debt.Result -1.08x | -$4.43MFree cash flow · 2019-03-31Reported free cash flowOperating cash flow-$3.00MtotalCashFromOperatingActivitiesCapex$1.43McapitalExpendituresFree cash flow-$4.43MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4.43M | —ROIC · 2019-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.13MoperatingIncomeTax expense-$1.04MincomeTaxExpensePretax income-$3.16MincomeBeforeTaxTax rate—Equity$17.50MtotalStockholderEquityDebt$3.83MshortLongTermDebtTotalCash$2.18McashAndShortTermInvestmentsInvested capital$19.15MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.86xEBIT / PP&E · 2019-03-31Operating income / net PP&EOperating income-$2.13MoperatingIncomeNet PP&E$2.47MpropertyPlantAndEquipmentNetResult -0.86x |
| 2020 | 11.9%Physical asset ratio · 2020-03-31(Net PP&E + inventory) / total assetsNet PP&E$3.99MpropertyPlantAndEquipmentNetInventory$1.85MinventoryTotal assets$49.10MtotalAssetsResult 11.9% | 12.50xFixed asset turnover · 2020-03-31Revenue / net PP&ERevenue$49.85MtotalRevenueNet PP&E$3.99MpropertyPlantAndEquipmentNetResult 12.50x | 0.09xCapex / D&A · 2020-03-31Capital expenditures / depreciation and amortizationCapex$229.00KcapitalExpendituresD&A$2.57MdepreciationAndAmortizationResult 0.09x | -$0.30Tangible book / share · 2020-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$49.10MtotalAssetsGoodwill$10.53MgoodWillIntangibles$10.60MintangibleAssetsLiabilities$34.22MtotalLiabTangible book-$6.26MShares21,192,004commonStockSharesOutstandingResult -$0.30 | -0.15xFixed-charge coverage · 2020-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$623.59KebitdaCapex$229.00KcapitalExpendituresInterest$849.10KinterestExpenseShort-term debt$4.95MshortLongTermDebtEBITDA − capex-$852.59KPrincipal due is the current portion of debt.Result -0.15x | -$4.64MFree cash flow · 2020-03-31Reported free cash flowOperating cash flow-$4.41MtotalCashFromOperatingActivitiesCapex$229.00KcapitalExpendituresFree cash flow-$4.64MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4.64M | —ROIC · 2020-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$3.30MoperatingIncomeTax expense-$1.19MincomeTaxExpensePretax income-$3.81MincomeBeforeTaxTax rate—Equity$14.51MtotalStockholderEquityDebt$15.95MshortLongTermDebtTotalCash$1.34McashInvested capital$29.12MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.83xEBIT / PP&E · 2020-03-31Operating income / net PP&EOperating income-$3.30MoperatingIncomeNet PP&E$3.99MpropertyPlantAndEquipmentNetResult -0.83x |
| 2021 | 12.5%Physical asset ratio · 2021-03-31(Net PP&E + inventory) / total assetsNet PP&E$3.88MpropertyPlantAndEquipmentNetInventory$1.62MinventoryTotal assets$44.11MtotalAssetsResult 12.5% | 4.42xFixed asset turnover · 2021-03-31Revenue / net PP&ERevenue$17.13MtotalRevenueNet PP&E$3.88MpropertyPlantAndEquipmentNetResult 4.42x | 0.15xCapex / D&A · 2021-03-31Capital expenditures / depreciation and amortizationCapex$178.86KcapitalExpendituresD&A$1.18MdepreciationAndAmortizationResult 0.15x | -$0.18Tangible book / share · 2021-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$44.11MtotalAssetsGoodwill$9.60MgoodWillIntangibles$5.88MintangibleAssetsLiabilities$32.47MtotalLiabTangible book-$3.85MShares21,192,004commonStockSharesOutstandingResult -$0.18 | -1.29xFixed-charge coverage · 2021-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$3.09MebitdaCapex$178.86KcapitalExpendituresInterest$667.16KinterestExpenseShort-term debt$1.86MshortLongTermDebtEBITDA − capex-$3.27MPrincipal due is the current portion of debt.Result -1.29x | $3.50MFree cash flow · 2021-03-31Reported free cash flowOperating cash flow$3.68MtotalCashFromOperatingActivitiesCapex$178.86KcapitalExpendituresFree cash flow$3.50MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $3.50M | —ROIC · 2021-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.83MoperatingIncomeTax expense-$660.08KincomeTaxExpensePretax income-$4.65MincomeBeforeTaxTax rate—Equity$11.63MtotalStockholderEquityDebt$13.92MshortLongTermDebtTotalCash$1.62McashInvested capital$23.93MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.47xEBIT / PP&E · 2021-03-31Operating income / net PP&EOperating income-$1.83MoperatingIncomeNet PP&E$3.88MpropertyPlantAndEquipmentNetResult -0.47x |
| 2022 | 6.2%Physical asset ratio · 2022-03-31(Net PP&E + inventory) / total assetsNet PP&E$1.74MpropertyPlantAndEquipmentNetInventory$936.25KinventoryTotal assets$42.94MtotalAssetsResult 6.2% | 10.45xFixed asset turnover · 2022-03-31Revenue / net PP&ERevenue$18.16MtotalRevenueNet PP&E$1.74MpropertyPlantAndEquipmentNetResult 10.45x | 0.05xCapex / D&A · 2022-03-31Capital expenditures / depreciation and amortizationCapex$61.30KcapitalExpendituresD&A$1.22MdepreciationAndAmortizationResult 0.05x | $0.52Tangible book / share · 2022-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$42.94MtotalAssetsGoodwill$2.97MgoodWillIntangibles$1.68MintangibleAssetsLiabilities$26.89MtotalLiabTangible book$11.40MShares21,830,599commonStockSharesOutstandingResult $0.52 | -3.57xFixed-charge coverage · 2022-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.19MebitdaCapex$61.30KcapitalExpendituresInterest$747.40KinterestExpenseShort-term debt$443.38KshortLongTermDebtEBITDA − capex-$4.26MPrincipal due is the current portion of debt.Result -3.57x | $848.95KFree cash flow · 2022-03-31Reported free cash flowOperating cash flow$910.25KtotalCashFromOperatingActivitiesCapex$61.30KcapitalExpendituresFree cash flow$848.95KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $848.95K | —ROIC · 2022-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.38MoperatingIncomeTax expense$60.77KincomeTaxExpensePretax income-$5.88MincomeBeforeTaxTax rate—Equity$16.05MtotalStockholderEquityDebt$9.71MshortLongTermDebtTotalCash$354.08KcashInvested capital$25.40MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.80xEBIT / PP&E · 2022-03-31Operating income / net PP&EOperating income-$1.38MoperatingIncomeNet PP&E$1.74MpropertyPlantAndEquipmentNetResult -0.80x |
| 2023 | 13.2%Physical asset ratio · 2023-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.44MpropertyPlantAndEquipmentNetInventory$929.38KinventoryTotal assets$25.58MtotalAssetsResult 13.2% | 8.17xFixed asset turnover · 2023-03-31Revenue / net PP&ERevenue$19.96MtotalRevenueNet PP&E$2.44MpropertyPlantAndEquipmentNetResult 8.17x | 0.87xCapex / D&A · 2023-03-31Capital expenditures / depreciation and amortizationCapex$954.83KcapitalExpendituresD&A$1.10MdepreciationAndAmortizationResult 0.87x | $0.45Tangible book / share · 2023-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$25.58MtotalAssetsGoodwill$2.97MgoodWillIntangibles$1.86MintangibleAssetsLiabilities$8.80MtotalLiabTangible book$11.95MShares26,489,438commonStockSharesOutstandingResult $0.45 | -2.77xFixed-charge coverage · 2023-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.95MebitdaCapex$954.83KcapitalExpendituresInterest$547.60KinterestExpenseShort-term debt$500.00KshortLongTermDebtEBITDA − capex-$2.90MPrincipal due is the current portion of debt.Result -2.77x | -$4.93MFree cash flow · 2023-03-31Reported free cash flowOperating cash flow-$3.97MtotalCashFromOperatingActivitiesCapex$954.83KcapitalExpendituresFree cash flow-$4.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4.93M | —ROIC · 2023-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$484.21KoperatingIncomeTax expense$593.93KincomeTaxExpensePretax income-$3.26MincomeBeforeTaxTax rate—Equity$16.78MtotalStockholderEquityDebt$500.00KlongTermDebt + shortLongTermDebtCash$10.11McashInvested capital$7.17MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.20xEBIT / PP&E · 2023-03-31Operating income / net PP&EOperating income-$484.21KoperatingIncomeNet PP&E$2.44MpropertyPlantAndEquipmentNetResult -0.20x |
| 2024 | 13.7%Physical asset ratio · 2024-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.34MpropertyPlantAndEquipmentNetInventory$1.10MinventoryTotal assets$25.17MtotalAssetsResult 13.7% | 10.68xFixed asset turnover · 2024-03-31Revenue / net PP&ERevenue$24.95MtotalRevenueNet PP&E$2.34MpropertyPlantAndEquipmentNetResult 10.68x | 0.17xCapex / D&A · 2024-03-31Capital expenditures / depreciation and amortizationCapex$237.71KcapitalExpendituresD&A$1.42MdepreciationAndAmortizationResult 0.17x | $0.25Tangible book / share · 2024-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$25.17MtotalAssetsGoodwill$4.50MgoodWillIntangibles$2.49MintangibleAssetsLiabilities$11.66MtotalLiabTangible book$6.52MShares26,570,828commonStockSharesOutstandingResult $0.25 | -5.34xFixed-charge coverage · 2024-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.48MebitdaCapex$237.71KcapitalExpendituresInterest$232.58KinterestExpenseShort-term debt$89.67KshortLongTermDebtEBITDA − capex-$1.72MPrincipal due is the current portion of debt.Result -5.34x | -$1.00MFree cash flow · 2024-03-31Reported free cash flowOperating cash flow-$763.71KtotalCashFromOperatingActivitiesCapex$237.71KcapitalExpendituresFree cash flow-$1.00MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.00M | —ROIC · 2024-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.14MoperatingIncomeTax expense-$86.79KincomeTaxExpensePretax income-$3.14MincomeBeforeTaxTax rate—Equity$13.53MtotalStockholderEquityDebt$89.67KlongTermDebt + shortLongTermDebtCash$6.03McashInvested capital$7.59MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.92xEBIT / PP&E · 2024-03-31Operating income / net PP&EOperating income-$2.14MoperatingIncomeNet PP&E$2.34MpropertyPlantAndEquipmentNetResult -0.92x |
| 2025 | 14.2%Physical asset ratio · 2025-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.25MpropertyPlantAndEquipmentNetInventory$1.03MinventoryTotal assets$23.05MtotalAssetsResult 14.2% | 15.00xFixed asset turnover · 2025-03-31Revenue / net PP&ERevenue$33.76MtotalRevenueNet PP&E$2.25MpropertyPlantAndEquipmentNetResult 15.00x | 0.53xCapex / D&A · 2025-03-31Capital expenditures / depreciation and amortizationCapex$874.61KcapitalExpendituresD&A$1.66MdepreciationAndAmortizationResult 0.53x | $0.23Tangible book / share · 2025-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$23.05MtotalAssetsGoodwill$4.44MgoodWillIntangibles$2.22MintangibleAssetsLiabilities$10.29MtotalLiabTangible book$6.09MShares26,643,739commonStockSharesOutstandingResult $0.23 | -1.57xFixed-charge coverage · 2025-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA$279.04KebitdaCapex$874.61KcapitalExpendituresInterest$276.83KinterestExpenseShort-term debt$102.50KshortLongTermDebtEBITDA − capex-$595.57KPrincipal due is the current portion of debt.Result -1.57x | -$538.58KFree cash flow · 2025-03-31Reported free cash flowOperating cash flow$336.03KtotalCashFromOperatingActivitiesCapex$874.61KcapitalExpendituresFree cash flow-$538.58KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$538.58K | —ROIC · 2025-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$490.35KoperatingIncomeTax expense$393.10KincomeTaxExpensePretax income-$1.66MincomeBeforeTaxTax rate—Equity$12.56MtotalStockholderEquityDebt$102.50KlongTermDebt + shortLongTermDebtCash$4.72McashInvested capital$7.93MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.22xEBIT / PP&E · 2025-03-31Operating income / net PP&EOperating income-$490.35KoperatingIncomeNet PP&E$2.25MpropertyPlantAndEquipmentNetResult -0.22x |
| 2026 | 14.1%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$2.62MpropertyPlantAndEquipmentNetInventory$892.58KinventoryTotal assets$24.95MtotalAssetsResult 14.1% | 14.21xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue$37.23MtotalRevenueNet PP&E$2.62MpropertyPlantAndEquipmentNetResult 14.21x | 0.64xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$1.05McapitalExpendituresD&A$1.64MdepreciationAndAmortizationResult 0.64x | $0.15Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$24.95MtotalAssetsGoodwill$4.44MgoodWillIntangibles$1.90MintangibleAssetsLiabilities$14.61MtotalLiabTangible book$4.00MShares26,648,739commonStockSharesOutstandingResult $0.15 | -3.84xFixed-charge coverage · 2026-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$518.00KebitdaCapex$1.05McapitalExpendituresInterest$295.28KinterestExpenseShort-term debt$111.29KshortLongTermDebtEBITDA − capex-$1.56MPrincipal due is the current portion of debt.Result -3.84x | $2.75MFree cash flow · 2026-03-31Reported free cash flowOperating cash flow$3.80MtotalCashFromOperatingActivitiesCapex$1.05McapitalExpendituresFree cash flow$2.75MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.75M | —ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$66.51KoperatingIncomeTax expense$78.72KincomeTaxExpensePretax income-$2.45MincomeBeforeTaxTax rate—Equity$10.25MtotalStockholderEquityDebt$111.29KlongTermDebt + shortLongTermDebtCash$6.22McashInvested capital$4.14MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.03xEBIT / PP&E · 2026-03-31Operating income / net PP&EOperating income-$66.51KoperatingIncomeNet PP&E$2.62MpropertyPlantAndEquipmentNetResult -0.03x |
- 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 the current portion of debt.
Latest year inputs (2026)
Net PP&E: $2.62M
Inventory: $892.58K
Total assets: $24.95M
Goodwill: $4.44M
Intangibles: $1.90M
Liabilities: $14.61M
Tangible book: $4.00M
Shares: 26,648,739
Revenue: $37.23M
Capex: $1.05M
D&A: $1.64M
EBITDA: -$518.00K
Interest: $295.28K
Short-term debt: $111.29K
Free cash flow: $2.75M
Operating income: -$66.51K
Invested capital: $4.14M
Tax rate: —