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.
Alpha Tau Medical Ltd
Physical assets are 25.2% of total assets, a light footprint. Capex is 4.93x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -30.41x, which is below 1.
Fixed-asset turnover is 0.00x. Compare it with other names in the same basket.
Physical asset ratio
25.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$26.88MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$106.58MtotalAssetsInventory was not reported and is treated as zero.Result 25.2%
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$26.88MpropertyPlantAndEquipmentNetResult 0.00x
Revenue per dollar of the physical asset base.
Capex / D&A
4.93xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$6.08McapitalExpendituresD&A$1.23MdepreciationAndAmortizationResult 4.93x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.96Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$106.58MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$29.48MtotalLiabTangible book$77.10MShares80,581,440commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.96
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
13.69xPrice / tangible bookPrice / tangible book per sharePrice$13.10Latest quoteTangible book / share$0.962025-12-31Result 13.69x
Price $13.10.
Fixed-charge coverage
-30.41xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$41.06MebitdaCapex$6.08McapitalExpendituresInterest$419.00KinterestExpenseShort-term debt$1.13MshortTermDebtEBITDA − capex-$47.13MPrincipal due is short-term debt.Result -30.41x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-2.6%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$32.76MfreeCashFlowMarket cap$1.25BMarketCapitalizationResult -2.6%
Latest free cash flow divided by current market cap ($1.25B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$42.29MoperatingIncomeTax expense$121.00KincomeTaxExpensePretax income-$42.51MincomeBeforeTaxTax rate—Equity$77.10MtotalStockholderEquityDebt$6.35MlongTermDebt + shortLongTermDebtCash$76.90McashAndShortTermInvestmentsInvested capital$6.55MReported 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 —
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -1.57x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 9.0%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.71MpropertyPlantEquipmentInventory$1.13MinventoryTotal assets$31.56MtotalAssetsResult 9.0% | 0.00xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$1.71MpropertyPlantEquipmentResult 0.00x | 19.59xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$1.29McapitalExpendituresD&A$66.00KdepreciationAndAmortizationResult 19.59x | -$0.00Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$31.56MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$31.75MtotalLiabTangible book-$193.00KShares67,621,409commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$0.00 | -7.19xFixed-charge coverage · 2019-12-31(EBITDA − capex) / interestEBITDA-$7.94MebitdaCapex$1.29McapitalExpendituresInterest$1.28MinterestExpenseEBITDA − capex-$9.24MShort-term debt was not reported, so the denominator is interest only.Result -7.19x | -$8.20MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$6.91MtotalCashFromOperatingActivitiesCapex$1.29McapitalExpendituresFree cash flow-$8.20MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$8.20M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$8.01MoperatingIncomeTax expense$146.00KincomeTaxExpensePretax income-$8.32MincomeBeforeTaxTax rate—Equity-$193.00KtotalStockholderEquityDebt—Not reportedCash$28.13McashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -4.67xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$8.01MoperatingIncomeNet PP&E$1.71MpropertyPlantEquipmentResult -4.67x |
| 2020 | -46.1%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.40MpropertyPlantEquipmentInventory-$29.85MinventoryTotal assets$52.99MtotalAssetsResult -46.1% | 0.00xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$5.40MpropertyPlantEquipmentResult 0.00x | 43.80xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$3.77McapitalExpendituresD&A$86.00KdepreciationAndAmortizationResult 43.80x | -$0.12Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$52.99MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$61.42MtotalLiabTangible book-$8.43MShares67,621,409commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$0.12 | -59.56xFixed-charge coverage · 2020-12-31(EBITDA − capex) / interestEBITDA-$9.16MebitdaCapex$3.77McapitalExpendituresInterest$217.00KinterestExpenseEBITDA − capex-$12.93MShort-term debt was not reported, so the denominator is interest only.Result -59.56x | -$11.02MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$7.25MtotalCashFromOperatingActivitiesCapex$3.77McapitalExpendituresFree cash flow-$11.02MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$11.02M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$9.24MoperatingIncomeTax expense$158.00KincomeTaxExpensePretax income-$8.72MincomeBeforeTaxTax rate—Equity-$8.43MtotalStockholderEquityDebt$53.96MshortLongTermDebtTotalCash$46.02McashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.71xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$9.24MoperatingIncomeNet PP&E$5.40MpropertyPlantEquipmentResult -1.71x |
| 2021 | -1.5%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$7.55MpropertyPlantEquipmentInventory-$8.17MinventoryTotal assets$42.22MtotalAssetsResult -1.5% | 0.00xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$7.55MpropertyPlantEquipmentResult 0.00x | 3.77xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$2.93McapitalExpendituresD&A$776.00KdepreciationAndAmortizationResult 3.77x | -$0.51Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$42.22MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$76.99MtotalLiabTangible book-$34.78MShares67,621,409commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$0.51 | -1.26xFixed-charge coverage · 2021-12-31(EBITDA − capex) / interestEBITDA-$13.01MebitdaCapex$2.93McapitalExpendituresInterest$12.70MinterestExpenseEBITDA − capex-$15.94MShort-term debt was not reported, so the denominator is interest only.Result -1.26x | -$14.74MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$11.81MtotalCashFromOperatingActivitiesCapex$2.93McapitalExpendituresFree cash flow-$14.74MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$14.74M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$13.79MoperatingIncomeTax expense$7.00KincomeTaxExpensePretax income-$27.26MincomeBeforeTaxTax rate—Equity-$34.78MtotalStockholderEquityDebt$53.96MshortLongTermDebtTotalCash$31.32McashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.83xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$13.79MoperatingIncomeNet PP&E$7.55MpropertyPlantEquipmentResult -1.83x |
| 2022 | 10.2%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$13.28MpropertyPlantEquipmentInventory-$1.07MinventoryTotal assets$120.15MtotalAssetsResult 10.2% | 0.00xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$13.28MpropertyPlantEquipmentResult 0.00x | 0.92xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$904.00KcapitalExpendituresD&A$979.00KdepreciationAndAmortizationResult 0.92x | $1.66Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$120.15MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$14.49MtotalLiabTangible book$105.66MShares63,534,875commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.66 | -13.15xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$31.16MebitdaCapex$904.00KcapitalExpendituresInterest$1.77MinterestExpenseShort-term debt$669.00KshortTermDebtEBITDA − capex-$32.06MPrincipal due is short-term debt.Result -13.15x | -$24.78MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$23.88MtotalCashFromOperatingActivitiesCapex$904.00KcapitalExpendituresFree cash flow-$24.78MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$24.78M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$32.14MoperatingIncomeTax expense$20.00KincomeTaxExpensePretax income-$33.74MincomeBeforeTaxTax rate—Equity$105.66MtotalStockholderEquityDebt$5.19MshortLongTermDebtTotalCash$104.53McashAndShortTermInvestmentsInvested capital$6.32MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.42xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$32.14MoperatingIncomeNet PP&E$13.28MpropertyPlantEquipmentResult -2.42x |
| 2023 | 19.7%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$21.16MpropertyPlantAndEquipmentNetInventory-$19.00KinventoryTotal assets$107.39MtotalAssetsResult 19.7% | 0.00xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$21.16MpropertyPlantAndEquipmentNetResult 0.00x | 5.96xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$6.40McapitalExpendituresD&A$1.07MdepreciationAndAmortizationResult 5.96x | $1.22Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$107.39MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$22.91MtotalLiabTangible book$84.48MShares69,377,922commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.22 | -30.25xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$27.99MebitdaCapex$6.40McapitalExpendituresInterest$75.00KinterestExpenseShort-term debt$1.06MshortTermDebtEBITDA − capex-$34.39MPrincipal due is short-term debt.Result -30.25x | -$24.36MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$17.96MtotalCashFromOperatingActivitiesCapex$6.40McapitalExpendituresFree cash flow-$24.36MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$24.36M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$35.68MoperatingIncomeTax expense$16.00KincomeTaxExpensePretax income-$29.14MincomeBeforeTaxTax rate—Equity$84.48MtotalStockholderEquityDebt$5.61MlongTermDebt + shortLongTermDebtCash$81.79McashAndShortTermInvestmentsInvested capital$8.30MReported 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 — | -1.69xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$35.68MoperatingIncomeNet PP&E$21.16MpropertyPlantAndEquipmentNetResult -1.69x |
| 2024 | 25.0%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$21.54MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$86.20MtotalAssetsInventory was not reported and is treated as zero.Result 25.0% | 0.00xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$21.54MpropertyPlantAndEquipmentNetResult 0.00x | 2.03xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$2.24McapitalExpendituresD&A$1.10MdepreciationAndAmortizationResult 2.03x | $0.90Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$86.20MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$23.54MtotalLiabTangible book$62.67MShares69,927,566commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.90 | -24.79xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$30.34MebitdaCapex$2.24McapitalExpendituresInterest$303.00KinterestExpenseShort-term debt$1.01MshortTermDebtEBITDA − capex-$32.58MPrincipal due is short-term debt.Result -24.79x | -$22.02MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$19.78MtotalCashFromOperatingActivitiesCapex$2.24McapitalExpendituresFree cash flow-$22.02MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$22.02M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$36.04MoperatingIncomeTax expense$6.00KincomeTaxExpensePretax income-$31.74MincomeBeforeTaxTax rate—Equity$62.67MtotalStockholderEquityDebt$5.56MlongTermDebt + shortLongTermDebtCash$59.60McashAndShortTermInvestmentsInvested capital$8.63MReported 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 — | -1.67xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$36.04MoperatingIncomeNet PP&E$21.54MpropertyPlantAndEquipmentNetResult -1.67x |
| 2025 | 25.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$26.88MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$106.58MtotalAssetsInventory was not reported and is treated as zero.Result 25.2% | 0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$26.88MpropertyPlantAndEquipmentNetResult 0.00x | 4.93xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$6.08McapitalExpendituresD&A$1.23MdepreciationAndAmortizationResult 4.93x | $0.96Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$106.58MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$29.48MtotalLiabTangible book$77.10MShares80,581,440commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.96 | -30.41xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$41.06MebitdaCapex$6.08McapitalExpendituresInterest$419.00KinterestExpenseShort-term debt$1.13MshortTermDebtEBITDA − capex-$47.13MPrincipal due is short-term debt.Result -30.41x | -$32.76MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$26.68MtotalCashFromOperatingActivitiesCapex$6.08McapitalExpendituresFree cash flow-$32.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$32.76M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$42.29MoperatingIncomeTax expense$121.00KincomeTaxExpensePretax income-$42.51MincomeBeforeTaxTax rate—Equity$77.10MtotalStockholderEquityDebt$6.35MlongTermDebt + shortLongTermDebtCash$76.90McashAndShortTermInvestmentsInvested capital$6.55MReported 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 — | -1.57xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$42.29MoperatingIncomeNet PP&E$26.88MpropertyPlantAndEquipmentNetResult -1.57x |
- 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: $26.88M
Inventory: $0.00
Total assets: $106.58M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $29.48M
Tangible book: $77.10M
Shares: 80,581,440
Revenue: $0.00
Capex: $6.08M
D&A: $1.23M
EBITDA: -$41.06M
Interest: $419.00K
Short-term debt: $1.13M
Free cash flow: -$32.76M
Operating income: -$42.29M
Invested capital: $6.55M
Tax rate: —