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.
Liberty Defense Holdings, Ltd. Common Shares
Physical assets are 29.2% of total assets, a light footprint. Capex is 0.34x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -3.24x, which is below 1.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 2.23x.
Physical asset ratio
29.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$671.79KpropertyPlantAndEquipmentNetInventory$1.19MinventoryTotal assets$6.38MtotalAssetsResult 29.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
2.23xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$1.50MtotalRevenueNet PP&E$671.79KpropertyPlantAndEquipmentNetResult 2.23x
Revenue per dollar of the physical asset base.
Capex / D&A
0.34xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$87.12KcapitalExpendituresD&A$252.61KreconciledDepreciationResult 0.34x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$2.39Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.38MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$2.00MintangibleAssetsLiabilities$8.92MtotalLiabTangible book-$4.53MShares1,896,676commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.39
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$1.73Latest quoteTangible book / share-$2.392025-12-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $1.73.
Fixed-charge coverage
-3.24xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$13.19MebitdaCapex$87.12KcapitalExpendituresInterest$691.93KinterestExpenseShort-term debt$3.40MshortLongTermDebtEBITDA − capex-$13.27MPrincipal due is the current portion of debt.Result -3.24x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-116.2%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$11.44MfreeCashFlowMarket cap$9.84MMarketCapitalizationResult -116.2%
Latest free cash flow divided by current market cap ($9.84M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$13.47MoperatingIncomeTax expense—Not reportedPretax income-$14.13MincomeBeforeTaxTax rate—Equity-$2.53MtotalStockholderEquityDebt$3.40MshortLongTermDebtCash$319.29KcashInvested capital$551.17KROIC 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 -20.04x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2021 | 11.8%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$768.77KpropertyPlantAndEquipmentNetInventory$0.00inventoryTotal assets$6.50MtotalAssetsResult 11.8% | 0.00xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$768.77KpropertyPlantAndEquipmentNetResult 0.00x | 1.72xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$281.40KcapitalExpendituresD&A$163.82KreconciledDepreciationResult 1.72x | $5.68Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.50MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$4.14MintangibleAssetsLiabilities$1.56MtotalLiabTangible book$807.55KShares142,207commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $5.68 | -130.63xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$9.65MOperating income + D&ACapex$281.40KcapitalExpendituresInterest$48.03KinterestExpenseShort-term debt$27.99KshortLongTermDebtEBITDA − capex-$9.93MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is the current portion of debt.Result -130.63x | -$7.49MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$7.21MtotalCashFromOperatingActivitiesCapex$281.40KcapitalExpendituresFree cash flow-$7.49MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$7.49M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$9.81MoperatingIncomeTax expense—Not reportedPretax income-$12.39MincomeBeforeTaxTax rate—Equity$4.94MtotalStockholderEquityDebt$55.97KlongTermDebt + shortLongTermDebtCash$1.34McashInvested capital$3.66MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -12.76xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$9.81MoperatingIncomeNet PP&E$768.77KpropertyPlantAndEquipmentNetResult -12.76x |
| 2022 | 23.9%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.00MpropertyPlantAndEquipmentNetInventory$485.59KinventoryTotal assets$6.23MtotalAssetsResult 23.9% | 0.00xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$1.00MpropertyPlantAndEquipmentNetResult 0.00x | 0.82xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$925.48KcapitalExpendituresD&A$1.12MreconciledDepreciationResult 0.82x | $1.39Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.23MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$3.73MintangibleAssetsLiabilities$2.14MtotalLiabTangible book$360.52KShares259,643commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $1.39 | -144.48xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$10.98MebitdaCapex$925.48KcapitalExpendituresInterest$53.60KinterestExpenseShort-term debt$28.81KshortLongTermDebtEBITDA − capex-$11.91MPrincipal due is the current portion of debt.Result -144.48x | -$9.78MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$8.86MtotalCashFromOperatingActivitiesCapex$925.48KcapitalExpendituresFree cash flow-$9.78MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$9.78M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$12.18MoperatingIncomeTax expense—Not reportedPretax income-$12.16MincomeBeforeTaxTax rate—Equity$4.09MtotalStockholderEquityDebt$28.81KshortLongTermDebtCash$677.47KcashInvested capital$3.44MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -12.16xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$12.18MoperatingIncomeNet PP&E$1.00MpropertyPlantAndEquipmentNetResult -12.16x |
| 2023 | 39.4%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.04MpropertyPlantAndEquipmentNetInventory$1.26MinventoryTotal assets$5.83MtotalAssetsResult 39.4% | 1.43xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$1.49MtotalRevenueNet PP&E$1.04MpropertyPlantAndEquipmentNetResult 1.43x | 0.37xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$221.10KcapitalExpendituresD&A$593.17KreconciledDepreciationResult 0.37x | -$12.47Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$5.83MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$3.27MintangibleAssetsLiabilities$6.60MtotalLiabTangible book-$4.03MShares323,173commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$12.47 | -4.47xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$8.49MebitdaCapex$221.10KcapitalExpendituresInterest$283.25KinterestExpenseShort-term debt$1.67MshortLongTermDebtEBITDA − capex-$8.71MPrincipal due is the current portion of debt.Result -4.47x | -$5.76MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$5.54MtotalCashFromOperatingActivitiesCapex$221.10KcapitalExpendituresFree cash flow-$5.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$5.76M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$9.11MoperatingIncomeTax expense—Not reportedPretax income-$9.37MincomeBeforeTaxTax rate—Equity-$764.46KtotalStockholderEquityDebt$1.67MshortLongTermDebtCash$963.00cashInvested capital$901.43KROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -8.72xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$9.11MoperatingIncomeNet PP&E$1.04MpropertyPlantAndEquipmentNetResult -8.72x |
| 2024 | 22.3%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$759.94KpropertyPlantAndEquipmentNetInventory$868.31KinventoryTotal assets$7.29MtotalAssetsResult 22.3% | 3.21xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$2.44MtotalRevenueNet PP&E$759.94KpropertyPlantAndEquipmentNetResult 3.21x | 0.31xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$121.22KcapitalExpendituresD&A$396.32KreconciledDepreciationResult 0.31x | -$3.46Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$7.29MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$2.57MintangibleAssetsLiabilities$8.05MtotalLiabTangible book-$3.34MShares962,918commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$3.46 | -2.70xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$7.64MebitdaCapex$121.22KcapitalExpendituresInterest$808.99KinterestExpenseShort-term debt$2.07MshortLongTermDebtEBITDA − capex-$7.76MPrincipal due is the current portion of debt.Result -2.70x | -$6.59MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$6.47MtotalCashFromOperatingActivitiesCapex$121.22KcapitalExpendituresFree cash flow-$6.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$6.59M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$7.43MoperatingIncomeTax expense—Not reportedPretax income-$8.85MincomeBeforeTaxTax rate—Equity-$764.48KtotalStockholderEquityDebt$3.01MlongTermDebt + shortLongTermDebtCash$1.15McashInvested capital$1.09MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -9.78xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$7.43MoperatingIncomeNet PP&E$759.94KpropertyPlantAndEquipmentNetResult -9.78x |
| 2025 | 29.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$671.79KpropertyPlantAndEquipmentNetInventory$1.19MinventoryTotal assets$6.38MtotalAssetsResult 29.2% | 2.23xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$1.50MtotalRevenueNet PP&E$671.79KpropertyPlantAndEquipmentNetResult 2.23x | 0.34xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$87.12KcapitalExpendituresD&A$252.61KreconciledDepreciationResult 0.34x | -$2.39Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$6.38MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$2.00MintangibleAssetsLiabilities$8.92MtotalLiabTangible book-$4.53MShares1,896,676commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$2.39 | -3.24xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$13.19MebitdaCapex$87.12KcapitalExpendituresInterest$691.93KinterestExpenseShort-term debt$3.40MshortLongTermDebtEBITDA − capex-$13.27MPrincipal due is the current portion of debt.Result -3.24x | -$11.44MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$11.35MtotalCashFromOperatingActivitiesCapex$87.12KcapitalExpendituresFree cash flow-$11.44MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$11.44M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$13.47MoperatingIncomeTax expense—Not reportedPretax income-$14.13MincomeBeforeTaxTax rate—Equity-$2.53MtotalStockholderEquityDebt$3.40MshortLongTermDebtCash$319.29KcashInvested capital$551.17KROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -20.04xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$13.47MoperatingIncomeNet PP&E$671.79KpropertyPlantAndEquipmentNetResult -20.04x |
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $671.79K
Inventory: $1.19M
Total assets: $6.38M
Goodwill: $0.00
Intangibles: $2.00M
Liabilities: $8.92M
Tangible book: -$4.53M
Shares: 1,896,676
Revenue: $1.50M
Capex: $87.12K
D&A: $252.61K
EBITDA: -$13.19M
Interest: $691.93K
Short-term debt: $3.40M
Free cash flow: -$11.44M
Operating income: -$13.47M
Invested capital: $551.17K
Tax rate: —