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.
AtlasClear Holdings, Inc.
Banks, insurers, and other financials hold few plants and little inventory, so a physical-asset screen is a poor fit. The ratios below are still the latest annual figures. Capex is 0.00x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -0.21x, which is below 1.
Fixed-asset turnover is 117.21x. Compare it with other names in the same basket.
Physical asset ratio
0.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$124.68KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$77.62MtotalAssetsInventory was not reported and is treated as zero.Result 0.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
117.21xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$14.61MtotalRevenueNet PP&E$124.68KpropertyPlantAndEquipmentNetResult 117.21x
Revenue per dollar of the physical asset base.
Capex / D&A
0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$4.00capitalExpendituresD&A$1.42MdepreciationAndAmortizationResult 0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.02Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$77.62MtotalAssetsGoodwill$6.14MgoodWillIntangibles$12.32MintangibleAssetsLiabilities$55.94MtotalLiabTangible book$3.22MShares162,927,062commonStockSharesOutstandingResult $0.02
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
8.20xPrice / tangible bookPrice / tangible book per sharePrice$0.16Latest quoteTangible book / share$0.022025-12-31Result 8.20x
Price $0.16.
Fixed-charge coverage
-0.21xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.53MebitdaCapex$4.00capitalExpendituresInterest$7.04MinterestExpenseShort-term debt$116.59KshortTermDebtEBITDA − capex-$1.53MPrincipal due is short-term debt.Result -0.21x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-0.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$189.76KfreeCashFlowMarket cap$23.70MMarketCapitalizationResult -0.8%
Latest free cash flow divided by current market cap ($23.70M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$5.00MoperatingIncomeTax expense-$544.60KincomeTaxExpensePretax income$1.61MincomeBeforeTaxTax rate0.0%Equity$21.68MtotalStockholderEquityDebt$128.16KshortLongTermDebtTotalCash$23.08McashInvested capital—Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -40.14x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2010 | 51.6%Physical asset ratio · 2010-12-31(Net PP&E + inventory) / total assetsNet PP&E$155.85KpropertyPlantEquipmentInventory$329.12KinventoryTotal assets$940.29KtotalAssetsResult 51.6% | 1.03xFixed asset turnover · 2010-12-31Revenue / net PP&ERevenue$160.44KtotalRevenueNet PP&E$155.85KpropertyPlantEquipmentResult 1.03x | 0.90xCapex / D&A · 2010-12-31Capital expenditures / depreciation and amortizationCapex$76.27KcapitalExpendituresD&A$84.60KdepreciationDepreciation comes from the cash-flow statement because income-statement D&A was missing.Result 0.90x | —Tangible book / share · 2010-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$940.29KtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$183.23KintangibleAssetsLiabilities$4.17MtotalLiabTangible book—Shares—Goodwill was not reported and is treated as zero.Result — | -1.31xFixed-charge coverage · 2010-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.05MOperating income + D&ACapex$76.27KcapitalExpendituresInterest$0.00interestExpenseShort-term debt$3.14MshortTermDebtEBITDA − capex-$4.13MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is short-term debt.Result -1.31x | -$4.15MFree cash flow · 2010-12-31Operating cash flow − capexOperating cash flow-$4.07MtotalCashFromOperatingActivitiesCapex$76.27KcapitalExpendituresFree cash flow-$4.15MNot reportedFree cash flow is operating cash flow minus capex because the statement did not report free cash flow.Result -$4.15M | —ROIC · 2010-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.13MoperatingIncomeTax expense$0.00incomeTaxExpensePretax income-$4.85MincomeBeforeTaxTax rate—Equity-$3.23MtotalStockholderEquityDebt$3.15MlongTermDebt + shortLongTermDebtCash$201.30KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -26.53xEBIT / PP&E · 2010-12-31Operating income / net PP&EOperating income-$4.13MoperatingIncomeNet PP&E$155.85KpropertyPlantEquipmentResult -26.53x |
| 2011 | 14.2%Physical asset ratio · 2011-12-31(Net PP&E + inventory) / total assetsNet PP&E$266.00KpropertyPlantEquipmentInventory$766.00KinventoryTotal assets$7.25MtotalAssetsResult 14.2% | 1.23xFixed asset turnover · 2011-12-31Revenue / net PP&ERevenue$326.00KtotalRevenueNet PP&E$266.00KpropertyPlantEquipmentResult 1.23x | 2.27xCapex / D&A · 2011-12-31Capital expenditures / depreciation and amortizationCapex$154.00KcapitalExpendituresD&A$67.88KdepreciationDepreciation comes from the cash-flow statement because income-statement D&A was missing.Result 2.27x | —Tangible book / share · 2011-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.25MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$188.00KintangibleAssetsLiabilities$718.00KtotalLiabTangible book—Shares—Goodwill was not reported and is treated as zero.Result — | -810.10xFixed-charge coverage · 2011-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$6.59MOperating income + D&ACapex$154.00KcapitalExpendituresInterest$0.00interestExpenseShort-term debt$8.33KshortTermDebtEBITDA − capex-$6.75MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is short-term debt.Result -810.10x | -$7.88MFree cash flow · 2011-12-31Operating cash flow − capexOperating cash flow-$7.73MtotalCashFromOperatingActivitiesCapex$154.00KcapitalExpendituresFree cash flow-$7.88MNot reportedFree cash flow is operating cash flow minus capex because the statement did not report free cash flow.Result -$7.88M | —ROIC · 2011-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$6.66MoperatingIncomeTax expense$44.00KincomeTaxExpensePretax income-$9.37MincomeBeforeTaxTax rate—Equity$6.53MtotalStockholderEquityDebt$8.36KlongTermDebt + shortLongTermDebtCash$3.08McashInvested capital$3.46MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -25.04xEBIT / PP&E · 2011-12-31Operating income / net PP&EOperating income-$6.66MoperatingIncomeNet PP&E$266.00KpropertyPlantEquipmentResult -25.04x |
| 2020 | —Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$200.62KtotalAssetsResult — | —Fixed asset turnover · 2020-12-31Revenue / net PP&ERevenue—Not reportedNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$3.00capitalExpendituresD&A$21.68KdepreciationAndAmortizationResult 0.00x | $0.00Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$200.62KtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$181.04KtotalLiabTangible book$19.58KShares25,156,250commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.00 | —Fixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$5.42KebitdaCapex$3.00capitalExpendituresInterest—Not reportedShort-term debt$130.10KshortTermDebtEBITDA − capex-$5.42KPrincipal due is short-term debt.Result — | -$25.32KFree cash flow · 2020-12-31Operating cash flow − capexOperating cash flow-$25.31KtotalCashFromOperatingActivitiesCapex$3.00capitalExpendituresFree cash flow-$25.32KNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$25.32K | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$21.68KoperatingIncomeTax expense-$5.42KincomeTaxExpensePretax income-$21.68KincomeBeforeTaxTax rate—Equity$19.58KtotalStockholderEquityDebt$130.10KshortLongTermDebtTotalCash$21.87KcashInvested capital$127.81KROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$21.68KoperatingIncomeNet PP&E—Not reportedResult — |
| 2021 | -2.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$343.65KpropertyPlantAndEquipmentNetInventory-$2.07MinventoryTotal assets$64.33MtotalAssetsResult -2.7% | 38.74xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$13.31MtotalRevenueNet PP&E$343.65KpropertyPlantAndEquipmentNetResult 38.74x | 0.37xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$13.81KcapitalExpendituresD&A$37.23KdepreciationAndAmortizationResult 0.37x | $0.43Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$64.33MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$54.49MtotalLiabTangible book$9.85MShares22,857,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.43 | 8.63xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$1.92MebitdaCapex$13.81KcapitalExpendituresInterest$69.84KinterestExpenseShort-term debt$150.82KshortTermDebtEBITDA − capex$1.90MPrincipal due is short-term debt.Result 8.63x | -$1.09MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$1.07MtotalCashFromOperatingActivitiesCapex$13.81KcapitalExpendituresFree cash flow-$1.09MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.09M | 734.4%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.02MoperatingIncomeTax expense$331.98KincomeTaxExpensePretax income$1.81MincomeBeforeTaxTax rate18.3%Equity$9.85MtotalStockholderEquityDebt$943.64KshortLongTermDebtTotalCash$10.68McashAndShortTermInvestmentsInvested capital$113.41KResult 734.4% | 2.97xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$1.02MoperatingIncomeNet PP&E$343.65KpropertyPlantAndEquipmentNetResult 2.97x |
| 2022 | -2.1%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$180.55KpropertyPlantAndEquipmentNetInventory-$1.03MinventoryTotal assets$40.59MtotalAssetsResult -2.1% | 50.34xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$9.09MtotalRevenueNet PP&E$180.55KpropertyPlantAndEquipmentNetResult 50.34x | 0.00xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$28.53KdepreciationAndAmortizationResult 0.00x | $23.70Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$40.59MtotalAssetsGoodwill$0.00goodWillIntangibles$0.00Not reported, treated as 0Liabilities$30.65MtotalLiabTangible book$9.94MShares419,271commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $23.70 | 0.51xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$287.77KebitdaCapex$0.00capitalExpendituresInterest$83.21KinterestExpenseShort-term debt$480.00KshortLongTermDebtEBITDA − capex$287.77KPrincipal due is the current portion of debt.Result 0.51x | -$1.08MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$1.08MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$1.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.08M | -55.7%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.23MoperatingIncomeTax expense$44.69KincomeTaxExpensePretax income$176.03KincomeBeforeTaxTax rate25.4%Equity$9.94MtotalStockholderEquityDebt$805.72KshortLongTermDebtTotalCash$9.10McashAndShortTermInvestmentsInvested capital$1.64MResult -55.7% | -6.79xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$1.23MoperatingIncomeNet PP&E$180.55KpropertyPlantAndEquipmentNetResult -6.79x |
| 2023 | 0.6%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$342.42KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$55.48MtotalAssetsInventory was not reported and is treated as zero.Result 0.6% | 11.69xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$4.00MtotalRevenueNet PP&E$342.42KpropertyPlantAndEquipmentNetResult 11.69x | 0.00xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$5.00capitalExpendituresD&A$28.53KdepreciationAndAmortizationResult 0.00x | $1.78Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$55.48MtotalAssetsGoodwill$7.71MgoodWillIntangibles$14.15MintangibleAssetsLiabilities$12.37MtotalLiabTangible book$21.25MShares11,930,000commonStockSharesOutstandingResult $1.78 | -5.06xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$2.43MebitdaCapex$5.00capitalExpendituresInterest$0.00interestExpenseShort-term debt$480.00KshortTermDebtEBITDA − capex-$2.43MPrincipal due is short-term debt.Result -5.06x | -$1.82MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$1.82MtotalCashFromOperatingActivitiesCapex$5.00capitalExpendituresFree cash flow-$1.82MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.82M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$15.52MoperatingIncomeTax expense-$424.82KincomeTaxExpensePretax income-$120.51MincomeBeforeTaxTax rate—Equity$43.11MtotalStockholderEquityDebt$480.00KshortLongTermDebtTotalCash$619.55KcashInvested capital$42.97MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -45.33xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$15.52MoperatingIncomeNet PP&E$342.42KpropertyPlantAndEquipmentNetResult -45.33x |
| 2024 | —Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets—Not reportedResult — | —Fixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$10.86MtotalRevenueNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$1.53MreconciledDepreciationResult 0.00x | —Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets—Not reportedGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities—Not reportedTangible book—Shares—Goodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result — | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$15.10MebitdaCapex$0.00capitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$15.10MResult — | —Free cash flow · 2024-12-31Operating cash flow − capexOperating cash flow—Not reportedCapex$0.00capitalExpendituresFree cash flow—Not reportedResult — | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.29MoperatingIncomeTax expense—Not reportedPretax income—Not reportedTax rate—Equity—Not reportedDebt—Not reportedCash—Not reportedInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$4.29MoperatingIncomeNet PP&E—Not reportedResult — |
| 2025 | 0.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$124.68KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$77.62MtotalAssetsInventory was not reported and is treated as zero.Result 0.2% | 117.21xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$14.61MtotalRevenueNet PP&E$124.68KpropertyPlantAndEquipmentNetResult 117.21x | 0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$4.00capitalExpendituresD&A$1.42MdepreciationAndAmortizationResult 0.00x | $0.02Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$77.62MtotalAssetsGoodwill$6.14MgoodWillIntangibles$12.32MintangibleAssetsLiabilities$55.94MtotalLiabTangible book$3.22MShares162,927,062commonStockSharesOutstandingResult $0.02 | -0.21xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$1.53MebitdaCapex$4.00capitalExpendituresInterest$7.04MinterestExpenseShort-term debt$116.59KshortTermDebtEBITDA − capex-$1.53MPrincipal due is short-term debt.Result -0.21x | -$189.76KFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$189.75KtotalCashFromOperatingActivitiesCapex$4.00capitalExpendituresFree cash flow-$189.76KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$189.76K | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$5.00MoperatingIncomeTax expense-$544.60KincomeTaxExpensePretax income$1.61MincomeBeforeTaxTax rate0.0%Equity$21.68MtotalStockholderEquityDebt$128.16KshortLongTermDebtTotalCash$23.08McashInvested capital—Result — | -40.14xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$5.00MoperatingIncomeNet PP&E$124.68KpropertyPlantAndEquipmentNetResult -40.14x |
- 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: $124.68K
Inventory: $0.00
Total assets: $77.62M
Goodwill: $6.14M
Intangibles: $12.32M
Liabilities: $55.94M
Tangible book: $3.22M
Shares: 162,927,062
Revenue: $14.61M
Capex: $4.00
D&A: $1.42M
EBITDA: -$1.53M
Interest: $7.04M
Short-term debt: $116.59K
Free cash flow: -$189.76K
Operating income: -$5.00M
Invested capital: —
Tax rate: 0.0%