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.
Heartbeam Inc
Physical assets are 20.6% of total assets, a light footprint. Capex is 15.00x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash.
Fixed-asset turnover is 0.00x. Compare it with other names in the same basket.
Physical asset ratio
20.6%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.10MpropertyPlantAndEquipmentNetInventory$103.00KinventoryTotal assets$5.84MtotalAssetsResult 20.6%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$1.10MpropertyPlantAndEquipmentNetResult 0.00x
Revenue per dollar of the physical asset base.
Capex / D&A
15.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$600.00KcapitalExpendituresD&A$40.00KdepreciationAndAmortizationResult 15.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.08Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.84MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$3.24MtotalLiabTangible book$2.60MShares33,710,095commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.08
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
7.00xPrice / tangible bookPrice / tangible book per sharePrice$0.54Latest quoteTangible book / share$0.082025-12-31Result 7.00x
Price $0.54.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$20.98MebitdaCapex$600.00KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$21.58MResult —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-64.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$14.59MfreeCashFlowMarket cap$22.56MMarketCapitalizationResult -64.7%
Latest free cash flow divided by current market cap ($22.56M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$21.14MoperatingIncomeTax expense$0.00taxProvisionPretax income-$21.02MincomeBeforeTaxTax rate—Equity$2.60MtotalStockholderEquityDebt—Not reportedCash$4.38McashInvested capital—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 -19.18x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 9.5%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$48.38MpropertyPlantAndEquipmentNetInventory$7.32MinventoryTotal assets$586.80MtotalAssetsResult 9.5% | 8.26xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$399.47MtotalRevenueNet PP&E$48.38MpropertyPlantAndEquipmentNetResult 8.26x | 0.61xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$24.64McapitalExpendituresD&A$40.17MdepreciationAndAmortizationResult 0.61x | -$1.62Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$586.80MtotalAssetsGoodwill$238.81MgoodWillIntangibles$129.65MintangibleAssetsLiabilities$276.32MtotalLiabTangible book-$57.98MShares35,783,000commonStockSharesOutstandingResult -$1.62 | 4.63xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$92.05MebitdaCapex$24.64McapitalExpendituresInterest$9.43MinterestExpenseShort-term debt$5.13MshortTermDebtEBITDA − capex$67.41MPrincipal due is short-term debt.Result 4.63x | $48.11MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$72.75MtotalCashFromOperatingActivitiesCapex$24.64McapitalExpendituresFree cash flow$48.11MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $48.11M | 19.6%ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$84.00MoperatingIncomeTax expense-$370.00KincomeTaxExpensePretax income$41.50MincomeBeforeTaxTax rate0.0%Equity$310.49MtotalStockholderEquityDebt$198.55MshortLongTermDebtTotalCash$80.89McashInvested capital$428.15MResult 19.6% | 1.74xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$84.00MoperatingIncomeNet PP&E$48.38MpropertyPlantAndEquipmentNetResult 1.74x |
| 2019 | 887,400.0%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$56.38MpropertyPlantAndEquipmentNetInventory$5.74MinventoryTotal assets$7.00KtotalAssetsResult 887,400.0% | 7.79xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$439.11MtotalRevenueNet PP&E$56.38MpropertyPlantAndEquipmentNetResult 7.79x | 0.71xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$30.71McapitalExpendituresD&A$42.98MdepreciationAndAmortizationResult 0.71x | -$53.22Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.00KtotalAssetsGoodwill$301.32MgoodWillIntangibles$129.60MintangibleAssetsLiabilities$3.73MtotalLiabTangible book-$434.64MShares8,167,400commonStockSharesOutstandingResult -$53.22 | 42.17xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$42.68MebitdaCapex$30.71McapitalExpendituresInterest$242.00KinterestExpenseShort-term debt$42.00KshortTermDebtEBITDA − capex$11.98MPrincipal due is short-term debt.Result 42.17x | -$30.93MFree cash flow · 2019-12-31Operating cash flow − capexOperating cash flow-$218.00KtotalCashFromOperatingActivitiesCapex$30.71McapitalExpendituresFree cash flow-$30.93MNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$30.93M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$294.00KoperatingIncomeTax expense$242.00KincomeTaxExpensePretax income-$536.00KincomeBeforeTaxTax rate—Equity-$3.73MtotalStockholderEquityDebt$3.42MshortLongTermDebtTotalCash$5.00KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.01xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$294.00KoperatingIncomeNet PP&E$56.38MpropertyPlantAndEquipmentNetResult -0.01x |
| 2020 | —Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$51.00KtotalAssetsResult — | —Fixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$788.00depreciationAndAmortizationResult 0.00x | -$0.59Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$51.00KtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$4.84MtotalLiabTangible book-$4.79MShares8,167,400commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$0.59 | -0.17xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$788.00KebitdaCapex$0.00capitalExpendituresInterest$280.00KinterestExpenseShort-term debt$4.30MshortTermDebtEBITDA − capex-$788.00KPrincipal due is short-term debt.Result -0.17x | -$600.00KFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$600.00KtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$600.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$600.00K | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$788.00KoperatingIncomeTax expense$280.00KincomeTaxExpensePretax income-$1.07MincomeBeforeTaxTax rate—Equity-$4.79MtotalStockholderEquityDebt$4.30MshortLongTermDebtTotalCash$24.00KcashInvested capital—ROIC 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-$788.00KoperatingIncomeNet PP&E—Not reportedResult — |
| 2021 | —Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$14.00MtotalAssetsResult — | —Fixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$2.29MdepreciationAndAmortizationResult 0.00x | $1.72Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$14.00MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$588.00KtotalLiabTangible book$13.41MShares7,809,912commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.72 | -1.05xFixed-charge coverage · 2021-12-31(EBITDA − capex) / interestEBITDA-$2.26MebitdaCapex$0.00capitalExpendituresInterest$2.17MinterestExpenseEBITDA − capex-$2.26MShort-term debt was not reported, so the denominator is interest only.Result -1.05x | -$3.23MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$3.23MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$3.23MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$3.23M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.29MoperatingIncomeTax expense$2.17MincomeTaxExpensePretax income-$4.43MincomeBeforeTaxTax rate—Equity$13.41MtotalStockholderEquityDebt—Not reportedCash$13.19McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$2.29MoperatingIncomeNet PP&E—Not reportedResult — |
| 2022 | —Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$4.04MtotalAssetsResult — | —Fixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$135.00KdepreciationAndAmortizationResult 0.00x | $0.29Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$4.04MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.67MtotalLiabTangible book$2.37MShares8,168,516commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.29 | -195.39xFixed-charge coverage · 2022-12-31(EBITDA − capex) / interestEBITDA-$12.90MebitdaCapex$0.00capitalExpendituresInterest$66.00KinterestExpenseEBITDA − capex-$12.90MShort-term debt was not reported, so the denominator is interest only.Result -195.39x | -$9.95MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$9.95MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$9.95MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$9.95M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$13.03MoperatingIncomeTax expense-$135.00KincomeTaxExpensePretax income-$12.96MincomeBeforeTaxTax rate—Equity$2.37MtotalStockholderEquityDebt—Not reportedCash$3.59McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$13.03MoperatingIncomeNet PP&E—Not reportedResult — |
| 2023 | 1.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$256.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$17.13MtotalAssetsInventory was not reported and is treated as zero.Result 1.5% | 0.00xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$256.00KpropertyPlantAndEquipmentNetResult 0.00x | 0.02xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$256.00KcapitalExpendituresD&A$15.31MdepreciationAndAmortizationResult 0.02x | $0.78Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$17.13MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.19MtotalLiabTangible book$15.94MShares20,333,280commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.78 | —Fixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$675.00KebitdaCapex$256.00KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$419.00KResult — | -$12.35MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$12.09MtotalCashFromOperatingActivitiesCapex$256.00KcapitalExpendituresFree cash flow-$12.35MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$12.35M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$15.31MoperatingIncomeTax expense-$15.31KincomeTaxExpensePretax income-$14.64MincomeBeforeTaxTax rate—Equity$15.94MtotalStockholderEquityDebt—Not reportedCash$16.19McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -59.82xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$15.31MoperatingIncomeNet PP&E$256.00KpropertyPlantAndEquipmentNetResult -59.82x |
| 2024 | 13.7%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$450.00KpropertyPlantAndEquipmentNetInventory$0.00inventoryTotal assets$3.28MtotalAssetsResult 13.7% | 0.00xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$450.00KpropertyPlantAndEquipmentNetResult 0.00x | 28.71xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$201.00KcapitalExpendituresD&A$7.00KdepreciationAndAmortizationResult 28.71x | $0.06Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$3.28MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.62MtotalLiabTangible book$1.65MShares26,645,228commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.06 | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$19.44MebitdaCapex$201.00KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$19.64MResult — | -$14.67MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$14.47MtotalCashFromOperatingActivitiesCapex$201.00KcapitalExpendituresFree cash flow-$14.67MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$14.67M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$19.89MoperatingIncomeTax expense$0.00taxProvisionPretax income-$19.45MincomeBeforeTaxTax rate—Equity$1.65MtotalStockholderEquityDebt—Not reportedCash$2.38McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -44.19xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$19.89MoperatingIncomeNet PP&E$450.00KpropertyPlantAndEquipmentNetResult -44.19x |
| 2025 | 20.6%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.10MpropertyPlantAndEquipmentNetInventory$103.00KinventoryTotal assets$5.84MtotalAssetsResult 20.6% | 0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$1.10MpropertyPlantAndEquipmentNetResult 0.00x | 15.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$600.00KcapitalExpendituresD&A$40.00KdepreciationAndAmortizationResult 15.00x | $0.08Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.84MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$3.24MtotalLiabTangible book$2.60MShares33,710,095commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.08 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$20.98MebitdaCapex$600.00KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$21.58MResult — | -$14.59MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$13.99MtotalCashFromOperatingActivitiesCapex$600.00KcapitalExpendituresFree cash flow-$14.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$14.59M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$21.14MoperatingIncomeTax expense$0.00taxProvisionPretax income-$21.02MincomeBeforeTaxTax rate—Equity$2.60MtotalStockholderEquityDebt—Not reportedCash$4.38McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -19.18xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$21.14MoperatingIncomeNet PP&E$1.10MpropertyPlantAndEquipmentNetResult -19.18x |
Latest year inputs (2025)
Net PP&E: $1.10M
Inventory: $103.00K
Total assets: $5.84M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $3.24M
Tangible book: $2.60M
Shares: 33,710,095
Revenue: $0.00
Capex: $600.00K
D&A: $40.00K
EBITDA: -$20.98M
Interest: —
Short-term debt: —
Free cash flow: -$14.59M
Operating income: -$21.14M
Invested capital: —
Tax rate: —