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.
ANCHUN INTERNATIONAL HLDGS LTD
Physical assets are 12.2% of total assets, a light footprint. Capex is 0.55x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 4.43x.
Physical asset ratio
12.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$33.87MpropertyPlantAndEquipmentNetInventory$14.59MinventoryTotal assets$397.64MtotalAssetsResult 12.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
4.43xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$150.01MtotalRevenueNet PP&E$33.87MpropertyPlantAndEquipmentNetResult 4.43x
Revenue per dollar of the physical asset base.
Capex / D&A
0.55xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$4.10McapitalExpendituresD&A$7.41MreconciledDepreciationResult 0.55x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$6.60Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$397.64MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.14MintangibleAssetsLiabilities$79.76MtotalLiabTangible book$305.73MShares46,350,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.60
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.04xPrice / tangible bookPrice / tangible book per sharePrice$0.28Latest quoteTangible book / share$6.602025-12-31Result 0.04x
Price $0.28.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$16.28MebitdaCapex$4.10McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$12.18MResult —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-105.7%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$13.86MfreeCashFlowMarket cap$13.12MMarketCapitalizationResult -105.7%
Latest free cash flow divided by current market cap ($13.12M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$8.86MoperatingIncomeTax expense$2.79MtaxProvisionPretax income$17.30MincomeBeforeTaxTax rate16.1%Equity$317.87MtotalStockholderEquityDebt—Not reportedCash$96.16McashInvested capital—Result —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.26x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 26.8%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$74.04MpropertyPlantEquipmentInventory$28.67MinventoryTotal assets$383.58MtotalAssetsResult 26.8% | 1.50xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$111.21MtotalRevenueNet PP&E$74.04MpropertyPlantEquipmentResult 1.50x | 0.06xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$783.00KcapitalExpendituresD&A$12.73MreconciledDepreciationResult 0.06x | $5.68Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$383.58MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$185.00KintangibleAssetsLiabilities$98.98MtotalLiabTangible book$284.41MShares50,082,600commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $5.68 | 590.38xFixed-charge coverage · 2018-12-31(EBITDA − capex) / interestEBITDA$22.63MebitdaCapex$783.00KcapitalExpendituresInterest$37.00KinterestExpenseEBITDA − capex$21.84MShort-term debt was not reported, so the denominator is interest only.Result 590.38x | $15.11MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow$16.13MtotalCashFromOperatingActivitiesCapex$783.00KcapitalExpendituresFree cash flow$15.11MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $15.11M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$9.86MoperatingIncomeTax expense-$628.00KincomeTaxExpensePretax income$9.86MincomeBeforeTaxTax rate0.0%Equity$284.60MtotalStockholderEquityDebt—Not reportedCash$134.52McashAndShortTermInvestmentsInvested capital—Result — | 0.13xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$9.86MoperatingIncomeNet PP&E$74.04MpropertyPlantEquipmentResult 0.13x |
| 2019 | 27.6%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$77.87MpropertyPlantEquipmentInventory$26.35MinventoryTotal assets$377.85MtotalAssetsResult 27.6% | 2.20xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$171.00MtotalRevenueNet PP&E$77.87MpropertyPlantEquipmentResult 2.20x | 0.11xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$1.25McapitalExpendituresD&A$11.24MreconciledDepreciationResult 0.11x | $6.05Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$377.85MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$205.00KintangibleAssetsLiabilities$83.46MtotalLiabTangible book$294.18MShares48,664,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.05 | 115.94xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$22.47MebitdaCapex$1.25McapitalExpendituresInterest$4.00KinterestExpenseShort-term debt$179.00KshortTermDebtEBITDA − capex$21.22MPrincipal due is short-term debt.Result 115.94x | -$25.26MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$23.89MtotalCashFromOperatingActivitiesCapex$1.25McapitalExpendituresFree cash flow-$25.26MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$25.26M | 6.0%ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$11.23MoperatingIncomeTax expense-$372.00KincomeTaxExpensePretax income$11.23MincomeBeforeTaxTax rate0.0%Equity$294.39MtotalStockholderEquityDebt$179.00KshortLongTermDebtCash$107.59McashInvested capital$186.98MResult 6.0% | 0.14xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$11.23MoperatingIncomeNet PP&E$77.87MpropertyPlantEquipmentResult 0.14x |
| 2020 | 28.3%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$70.55MpropertyPlantEquipmentInventory$27.93MinventoryTotal assets$347.56MtotalAssetsResult 28.3% | 1.33xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$93.92MtotalRevenueNet PP&E$70.55MpropertyPlantEquipmentResult 1.33x | 0.33xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$3.19McapitalExpendituresD&A$9.80MreconciledDepreciationResult 0.33x | $5.72Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$347.56MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$896.00KintangibleAssetsLiabilities$70.96MtotalLiabTangible book$275.70MShares48,181,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $5.72 | -1,613.67xFixed-charge coverage · 2020-12-31(EBITDA − capex) / interestEBITDA-$1.65MebitdaCapex$3.19McapitalExpendituresInterest$3.00KinterestExpenseEBITDA − capex-$4.84MShort-term debt was not reported, so the denominator is interest only.Result -1,613.67x | $11.38MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$15.40MtotalCashFromOperatingActivitiesCapex$3.19McapitalExpendituresFree cash flow$11.38MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $11.38M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$11.44MoperatingIncomeTax expense-$64.00KincomeTaxExpensePretax income-$11.45MincomeBeforeTaxTax rate—Equity$276.60MtotalStockholderEquityDebt—Not reportedCash$112.37McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.16xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$11.44MoperatingIncomeNet PP&E$70.55MpropertyPlantEquipmentResult -0.16x |
| 2021 | 23.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$64.11MpropertyPlantEquipmentInventory$31.59MinventoryTotal assets$403.31MtotalAssetsResult 23.7% | 1.70xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$109.04MtotalRevenueNet PP&E$64.11MpropertyPlantEquipmentResult 1.70x | 0.41xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$4.17McapitalExpendituresD&A$10.06MreconciledDepreciationResult 0.41x | $5.47Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$403.31MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.91MintangibleAssetsLiabilities$129.38MtotalLiabTangible book$261.02MShares47,690,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $5.47 | —Fixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$7.68MebitdaCapex$4.17McapitalExpendituresInterest$0.00interestExpenseShort-term debt—Not reportedEBITDA − capex$3.50MResult — | $38.05MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$42.34MtotalCashFromOperatingActivitiesCapex$4.17McapitalExpendituresFree cash flow$38.05MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $38.05M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$7.94MoperatingIncomeTax expense-$336.00KincomeTaxExpensePretax income-$2.38MincomeBeforeTaxTax rate—Equity$273.93MtotalStockholderEquityDebt—Not reportedCash$129.68McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.12xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$7.94MoperatingIncomeNet PP&E$64.11MpropertyPlantEquipmentResult -0.12x |
| 2022 | 21.6%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$56.62MpropertyPlantEquipmentInventory$31.76MinventoryTotal assets$409.19MtotalAssetsUses the property line, which is larger than net PP&E ($45.00M, propertyPlantAndEquipmentNet).Result 21.6% | 3.23xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$182.77MtotalRevenueNet PP&E$56.62MpropertyPlantEquipmentResult 3.23x | 0.16xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$1.51McapitalExpendituresD&A$9.46MreconciledDepreciationResult 0.16x | $6.16Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$409.19MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.45MintangibleAssetsLiabilities$105.89MtotalLiabTangible book$290.85MShares47,190,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.16 | —Fixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$32.59MebitdaCapex$1.51McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$31.08MResult — | $26.48MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow$28.30MtotalCashFromOperatingActivitiesCapex$1.51McapitalExpendituresFree cash flow$26.48MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $26.48M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$23.13MoperatingIncomeTax expense$223.00KincomeTaxExpensePretax income$30.47MincomeBeforeTaxTax rate0.7%Equity$303.30MtotalStockholderEquityDebt—Not reportedCash$115.75McashInvested capital—Result — | 0.41xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$23.13MoperatingIncomeNet PP&E$56.62MpropertyPlantEquipmentResult 0.41x |
| 2023 | 16.8%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$41.79MpropertyPlantAndEquipmentNetInventory$24.43MinventoryTotal assets$394.88MtotalAssetsResult 16.8% | 3.20xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$133.62MtotalRevenueNet PP&E$41.79MpropertyPlantAndEquipmentNetResult 3.20x | 0.56xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$5.10McapitalExpendituresD&A$9.17MreconciledDepreciationResult 0.56x | $6.14Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$394.88MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$11.73MintangibleAssetsLiabilities$95.67MtotalLiabTangible book$287.48MShares46,850,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.14 | —Fixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$2.89MebitdaCapex$5.10McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$2.21MResult — | $9.52MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$14.62MtotalCashFromOperatingActivitiesCapex$5.10McapitalExpendituresFree cash flow$9.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $9.52M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.02MoperatingIncomeTax expense-$192.00KtaxProvisionPretax income$2.20MincomeBeforeTaxTax rate0.0%Equity$299.21MtotalStockholderEquityDebt—Not reportedCash$79.02McashInvested capital—Result — | -0.10xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$4.02MoperatingIncomeNet PP&E$41.79MpropertyPlantAndEquipmentNetResult -0.10x |
| 2024 | 14.5%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$37.02MpropertyPlantAndEquipmentNetInventory$23.40MinventoryTotal assets$416.41MtotalAssetsResult 14.5% | 4.79xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$177.37MtotalRevenueNet PP&E$37.02MpropertyPlantAndEquipmentNetResult 4.79x | 0.43xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$3.60McapitalExpendituresD&A$8.33MreconciledDepreciationResult 0.43x | $6.36Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$416.41MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.05MintangibleAssetsLiabilities$106.34MtotalLiabTangible book$298.03MShares46,850,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.36 | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$16.00MebitdaCapex$3.60McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$12.40MResult — | $17.90MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$21.54MtotalCashFromOperatingActivitiesCapex$3.60McapitalExpendituresFree cash flow$17.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $17.90M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$7.67MoperatingIncomeTax expense$541.00KtaxProvisionPretax income$11.48MincomeBeforeTaxTax rate4.7%Equity$310.08MtotalStockholderEquityDebt—Not reportedCash$76.94McashInvested capital—Result — | 0.21xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income$7.67MoperatingIncomeNet PP&E$37.02MpropertyPlantAndEquipmentNetResult 0.21x |
| 2025 | 12.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$33.87MpropertyPlantAndEquipmentNetInventory$14.59MinventoryTotal assets$397.64MtotalAssetsResult 12.2% | 4.43xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$150.01MtotalRevenueNet PP&E$33.87MpropertyPlantAndEquipmentNetResult 4.43x | 0.55xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$4.10McapitalExpendituresD&A$7.41MreconciledDepreciationResult 0.55x | $6.60Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$397.64MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.14MintangibleAssetsLiabilities$79.76MtotalLiabTangible book$305.73MShares46,350,900commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $6.60 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$16.28MebitdaCapex$4.10McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex$12.18MResult — | -$13.86MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$9.76MtotalCashFromOperatingActivitiesCapex$4.10McapitalExpendituresFree cash flow-$13.86MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$13.86M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$8.86MoperatingIncomeTax expense$2.79MtaxProvisionPretax income$17.30MincomeBeforeTaxTax rate16.1%Equity$317.87MtotalStockholderEquityDebt—Not reportedCash$96.16McashInvested capital—Result — | 0.26xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$8.86MoperatingIncomeNet PP&E$33.87MpropertyPlantAndEquipmentNetResult 0.26x |
Latest year inputs (2025)
Net PP&E: $33.87M
Inventory: $14.59M
Total assets: $397.64M
Goodwill: $0.00
Intangibles: $12.14M
Liabilities: $79.76M
Tangible book: $305.73M
Shares: 46,350,900
Revenue: $150.01M
Capex: $4.10M
D&A: $7.41M
EBITDA: $16.28M
Interest: —
Short-term debt: —
Free cash flow: -$13.86M
Operating income: $8.86M
Invested capital: —
Tax rate: 16.1%