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.
Beam Therapeutics Inc
Physical assets are 13.9% of total assets, a light footprint. Capex is 0.67x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -0.50x, which is below 1.
Fixed-asset turnover is 0.68x. Compare it with other names in the same basket.
Physical asset ratio
13.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$205.18MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$1.48BtotalAssetsInventory was not reported and is treated as zero.Result 13.9%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.68xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$139.74MtotalRevenueNet PP&E$205.18MpropertyPlantAndEquipmentNetResult 0.68x
Revenue per dollar of the physical asset base.
Capex / D&A
0.67xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$14.95McapitalExpendituresD&A$22.29MdepreciationAndAmortizationResult 0.67x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$12.52Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.48BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$242.82MtotalLiabTangible book$1.24BShares98,905,577commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $12.52
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.17xPrice / tangible bookPrice / tangible book per sharePrice$27.23Latest quoteTangible book / share$12.522025-12-31Result 2.17x
Price $27.23.
Fixed-charge coverage
-0.50xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$13.97MebitdaCapex$14.95McapitalExpendituresInterest$43.73MinterestExpenseShort-term debt$14.36MshortTermDebtEBITDA − capex-$28.91MPrincipal due is short-term debt.Result -0.50x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-12.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$360.05MfreeCashFlowMarket cap$2.81BMarketCapitalizationResult -12.8%
Latest free cash flow divided by current market cap ($2.81B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$383.69MoperatingIncomeTax expense$0.00taxProvisionPretax income-$79.99MincomeBeforeTaxTax rate—Equity$1.24BtotalStockholderEquityDebt$293.88MshortLongTermDebtTotalCash$1.25BcashAndShortTermInvestmentsInvested capital$287.03MROIC 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 -1.87x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 10.1%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$16.94MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$167.01MtotalAssetsInventory was not reported and is treated as zero.Result 10.1% | 0.00xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$16.94MpropertyPlantEquipmentResult 0.00x | 20.19xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$13.12McapitalExpendituresD&A$650.00KdepreciationAndAmortizationResult 20.19x | $3.81Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$167.01MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$32.98MtotalLiabTangible book$134.03MShares35,137,576commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $3.81 | —Fixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$45.09MebitdaCapex$13.12McapitalExpendituresInterest$0.00interestExpenseShort-term debt—Not reportedEBITDA − capex-$58.22MResult — | -$33.42MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-$20.30MtotalCashFromOperatingActivitiesCapex$13.12McapitalExpendituresFree cash flow-$33.42MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$33.42M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$45.74MoperatingIncomeTax expense-$71.00MincomeTaxExpensePretax income-$116.74MincomeBeforeTaxTax rate—Equity$134.03MtotalStockholderEquityDebt—Not reportedCash$146.44McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.70xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-$45.74MoperatingIncomeNet PP&E$16.94MpropertyPlantEquipmentResult -2.70x |
| 2019 | 27.7%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$43.25MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$156.10MtotalAssetsInventory was not reported and is treated as zero.Result 27.7% | 0.00xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$18.00KtotalRevenueNet PP&E$43.25MpropertyPlantEquipmentResult 0.00x | 3.57xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$12.52McapitalExpendituresD&A$3.50MdepreciationAndAmortizationResult 3.57x | $1.97Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$156.10MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$55.15MtotalLiabTangible book$100.95MShares51,339,708commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.97 | -56.49xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$71.65MebitdaCapex$12.52McapitalExpendituresInterest$187.00KinterestExpenseShort-term debt$1.30MshortLongTermDebtEBITDA − capex-$84.17MPrincipal due is the current portion of debt.Result -56.49x | -$84.52MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$72.00MtotalCashFromOperatingActivitiesCapex$12.52McapitalExpendituresFree cash flow-$84.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$84.52M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$75.15MoperatingIncomeTax expense$116.00KincomeTaxExpensePretax income-$78.33MincomeBeforeTaxTax rate—Equity$100.95MtotalStockholderEquityDebt$5.71MlongTermDebt + shortLongTermDebtCash$91.85McashAndShortTermInvestmentsInvested capital$14.81MReported 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 — | -1.74xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$75.15MoperatingIncomeNet PP&E$43.25MpropertyPlantEquipmentResult -1.74x |
| 2020 | 27.8%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$125.37MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$451.68MtotalAssetsInventory was not reported and is treated as zero.Result 27.8% | 0.00xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$24.00KtotalRevenueNet PP&E$125.37MpropertyPlantEquipmentResult 0.00x | 3.45xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$16.36McapitalExpendituresD&A$4.74MdepreciationAndAmortizationResult 3.45x | $5.25Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$451.68MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$206.12MtotalLiabTangible book$245.56MShares46,733,221commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $5.25 | -39.17xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$128.02MebitdaCapex$16.36McapitalExpendituresInterest$1.57MinterestExpenseShort-term debt$2.12MshortLongTermDebtEBITDA − capex-$144.38MPrincipal due is the current portion of debt.Result -39.17x | -$112.10MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$95.74MtotalCashFromOperatingActivitiesCapex$16.36McapitalExpendituresFree cash flow-$112.10MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$112.10M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$132.76MoperatingIncomeTax expense$61.83MincomeTaxExpensePretax income-$194.59MincomeBeforeTaxTax rate—Equity$245.56MtotalStockholderEquityDebt$7.41MlongTermDebt + shortLongTermDebtCash$299.67McashAndShortTermInvestmentsInvested capital—Reported 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 — | -1.06xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$132.76MoperatingIncomeNet PP&E$125.37MpropertyPlantEquipmentResult -1.06x |
| 2021 | -28.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$186.98MpropertyPlantEquipmentInventory-$607.36MinventoryTotal assets$1.47BtotalAssetsResult -28.5% | 0.28xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$51.84MtotalRevenueNet PP&E$186.98MpropertyPlantEquipmentResult 0.28x | 6.28xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$46.81McapitalExpendituresD&A$7.45MdepreciationAndAmortizationResult 6.28x | $12.87Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.47BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$647.72MtotalLiabTangible book$826.74MShares64,227,676commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $12.87 | -120.59xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$230.06MebitdaCapex$46.81McapitalExpendituresInterest$9.00KinterestExpenseShort-term debt$2.29MshortLongTermDebtEBITDA − capex-$276.87MPrincipal due is the current portion of debt.Result -120.59x | -$113.08MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$66.27MtotalCashFromOperatingActivitiesCapex$46.81McapitalExpendituresFree cash flow-$113.08MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$113.08M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$392.47MoperatingIncomeTax expense-$29.28MincomeTaxExpensePretax income-$370.64MincomeBeforeTaxTax rate—Equity$826.74MtotalStockholderEquityDebt$5.29MlongTermDebt + shortLongTermDebtCash$965.65McashAndShortTermInvestmentsInvested capital—Reported 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 — | -2.10xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$392.47MoperatingIncomeNet PP&E$186.98MpropertyPlantEquipmentResult -2.10x |
| 2022 | 17.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$234.13MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$1.34BtotalAssetsInventory was not reported and is treated as zero.Result 17.5% | 0.26xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$60.92MtotalRevenueNet PP&E$234.13MpropertyPlantEquipmentResult 0.26x | 3.46xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$48.95McapitalExpendituresD&A$14.15MdepreciationAndAmortizationResult 3.46x | $10.48Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.34BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$608.24MtotalLiabTangible book$733.47MShares70,015,305commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $10.48 | -12.48xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$271.53MebitdaCapex$48.95McapitalExpendituresInterest$15.30MinterestExpenseShort-term debt$10.38MshortTermDebtEBITDA − capex-$320.48MPrincipal due is short-term debt.Result -12.48x | -$26.42MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$22.53MtotalCashFromOperatingActivitiesCapex$48.95McapitalExpendituresFree cash flow-$26.42MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$26.42M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$338.48MoperatingIncomeTax expense$3.41MincomeTaxExpensePretax income-$285.68MincomeBeforeTaxTax rate—Equity$733.47MtotalStockholderEquityDebt$179.01MshortLongTermDebtTotalCash$1.08BcashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.45xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$338.48MoperatingIncomeNet PP&E$234.13MpropertyPlantEquipmentResult -1.45x |
| 2023 | 16.3%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$237.81MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$1.46BtotalAssetsInventory was not reported and is treated as zero.Result 16.3% | 1.59xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$377.71MtotalRevenueNet PP&E$237.81MpropertyPlantAndEquipmentNetResult 1.59x | 1.69xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$33.73McapitalExpendituresD&A$20.01MdepreciationAndAmortizationResult 1.69x | $12.72Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.46BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$478.39MtotalLiabTangible book$981.33MShares77,151,771commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $12.72 | -2.44xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$111.15MebitdaCapex$33.73McapitalExpendituresInterest$46.68MinterestExpenseShort-term debt$12.78MshortTermDebtEBITDA − capex-$144.88MPrincipal due is short-term debt.Result -2.44x | -$182.93MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$149.20MtotalCashFromOperatingActivitiesCapex$33.73McapitalExpendituresFree cash flow-$182.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$182.93M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$176.49MoperatingIncomeTax expense$1.37MincomeTaxExpensePretax income-$131.16MincomeBeforeTaxTax rate—Equity$981.33MtotalStockholderEquityDebt$172.69MshortLongTermDebtTotalCash$1.19BcashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.74xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$176.49MoperatingIncomeNet PP&E$237.81MpropertyPlantAndEquipmentNetResult -0.74x |
| 2024 | 19.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$216.28MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$1.10BtotalAssetsInventory was not reported and is treated as zero.Result 19.6% | 0.29xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$63.52MtotalRevenueNet PP&E$216.28MpropertyPlantAndEquipmentNetResult 0.29x | 0.41xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$8.95McapitalExpendituresD&A$21.93MdepreciationAndAmortizationResult 0.41x | $8.91Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.10BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$370.28MtotalLiabTangible book$733.55MShares82,313,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $8.91 | -5.81xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$354.78MebitdaCapex$8.95McapitalExpendituresInterest$49.09MinterestExpenseShort-term debt$13.47MshortTermDebtEBITDA − capex-$363.72MPrincipal due is short-term debt.Result -5.81x | -$356.19MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$347.25MtotalCashFromOperatingActivitiesCapex$8.95McapitalExpendituresFree cash flow-$356.19MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$356.19M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$415.57MoperatingIncomeTax expense$39.00KincomeTaxExpensePretax income-$376.70MincomeBeforeTaxTax rate—Equity$733.55MtotalStockholderEquityDebt$161.43MshortLongTermDebtTotalCash$850.74McashAndShortTermInvestmentsInvested capital$44.23MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.92xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$415.57MoperatingIncomeNet PP&E$216.28MpropertyPlantAndEquipmentNetResult -1.92x |
| 2025 | 13.9%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$205.18MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$1.48BtotalAssetsInventory was not reported and is treated as zero.Result 13.9% | 0.68xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$139.74MtotalRevenueNet PP&E$205.18MpropertyPlantAndEquipmentNetResult 0.68x | 0.67xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$14.95McapitalExpendituresD&A$22.29MdepreciationAndAmortizationResult 0.67x | $12.52Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.48BtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$242.82MtotalLiabTangible book$1.24BShares98,905,577commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $12.52 | -0.50xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$13.97MebitdaCapex$14.95McapitalExpendituresInterest$43.73MinterestExpenseShort-term debt$14.36MshortTermDebtEBITDA − capex-$28.91MPrincipal due is short-term debt.Result -0.50x | -$360.05MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$345.10MtotalCashFromOperatingActivitiesCapex$14.95McapitalExpendituresFree cash flow-$360.05MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$360.05M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$383.69MoperatingIncomeTax expense$0.00taxProvisionPretax income-$79.99MincomeBeforeTaxTax rate—Equity$1.24BtotalStockholderEquityDebt$293.88MshortLongTermDebtTotalCash$1.25BcashAndShortTermInvestmentsInvested capital$287.03MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.87xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$383.69MoperatingIncomeNet PP&E$205.18MpropertyPlantAndEquipmentNetResult -1.87x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $205.18M
Inventory: $0.00
Total assets: $1.48B
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $242.82M
Tangible book: $1.24B
Shares: 98,905,577
Revenue: $139.74M
Capex: $14.95M
D&A: $22.29M
EBITDA: -$13.97M
Interest: $43.73M
Short-term debt: $14.36M
Free cash flow: -$360.05M
Operating income: -$383.69M
Invested capital: $287.03M
Tax rate: —