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.
Cybin Inc.
Physical assets are 0.1% of total assets, a light footprint. Capex is 11.37x depreciation and free cash flow yield is negative, so the physical base is expanding and consuming cash. EBITDA after capex covers debt service by -35.36x, which is below 1.
Fixed-asset turnover is -228.40x. Compare it with other names in the same basket.
Physical asset ratio
0.1%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$195.64KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$251.98MtotalAssetsInventory was not reported and is treated as zero.Result 0.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
-228.40xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue-$44.68MtotalRevenueNet PP&E$195.64KpropertyPlantAndEquipmentNetResult -228.40x
Revenue per dollar of the physical asset base.
Capex / D&A
11.37xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$1.36McapitalExpendituresD&A$120.00KdepreciationAndAmortizationResult 11.37x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$4.77Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$251.98MtotalAssetsGoodwill$36.34MgoodWillIntangibles$30.32MintangibleAssetsLiabilities$19.44MtotalLiabTangible book$165.87MShares34,802,943commonStockSharesOutstandingResult $4.77
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
2.27xPrice / tangible bookPrice / tangible book per sharePrice$10.82Latest quoteTangible book / share$4.772026-03-31Result 2.27x
Price $10.82.
Fixed-charge coverage
-35.36xFixed-charge coverage · 2026-03-31(EBITDA − capex) / interestEBITDA-$141.56MebitdaCapex$1.36McapitalExpendituresInterest$4.04MinterestExpenseEBITDA − capex-$142.92MShort-term debt was not reported, so the denominator is interest only.Result -35.36x
EBITDA minus capex, divided by interest only.
FCF yield
-17.1%Free cash flow yield · 2026-03-31Latest free cash flow / current market capFree cash flow-$133.79MfreeCashFlowMarket cap$782.47MMarketCapitalizationResult -17.1%
Latest free cash flow divided by current market cap ($782.47M).
ROIC
—ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$141.68MoperatingIncomeTax expense$89.37MincomeTaxExpensePretax income-$57.69MincomeBeforeTaxTax rate—Equity$232.24MtotalStockholderEquityDebt—Not reportedCash$157.78McashInvested 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 -724.17x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | —Physical asset ratio · 2019-03-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$408.38KtotalAssetsResult — | —Fixed asset turnover · 2019-03-31Revenue / net PP&ERevenue—Not reportedNet PP&E—Not reportedResult — | 0.22xCapex / D&A · 2019-03-31Capital expenditures / depreciation and amortizationCapex$35.00KcapitalExpendituresD&A$161.14KdepreciationAndAmortizationResult 0.22x | $1.08Tangible book / share · 2019-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$408.38KtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$13.65KtotalLiabTangible book$394.73KShares365,428commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.08 | —Fixed-charge coverage · 2019-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$80.91KebitdaCapex$35.00KcapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$115.91KResult — | -$118.79KFree cash flow · 2019-03-31Reported free cash flowOperating cash flow-$83.79KtotalCashFromOperatingActivitiesCapex$35.00KcapitalExpendituresFree cash flow-$118.79KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$118.79K | —ROIC · 2019-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$80.52KoperatingIncomeTax expense—Not reportedPretax income-$101.00KincomeBeforeTaxTax rate—Equity$394.73KtotalStockholderEquityDebt—Not reportedCash$314.32KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2019-03-31Operating income / net PP&EOperating income-$80.52KoperatingIncomeNet PP&E—Not reportedResult — |
| 2020 | —Physical asset ratio · 2020-03-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory—Not reportedTotal assets$1.71MtotalAssetsResult — | —Fixed asset turnover · 2020-03-31Revenue / net PP&ERevenue—Not reportedNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2020-03-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$1.95MdepreciationAndAmortizationResult 0.00x | $1.10Tangible book / share · 2020-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.71MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$263.00KtotalLiabTangible book$1.45MShares1,315,389commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.10 | —Fixed-charge coverage · 2020-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$400.00ebitdaCapex$0.00capitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$400.00Result — | -$1.38KFree cash flow · 2020-03-31Reported free cash flowOperating cash flow-$1.38KtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$1.38KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.38K | —ROIC · 2020-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$1.95MoperatingIncomeTax expense—Not reportedPretax income-$1.94MincomeBeforeTaxTax rate—Equity$1.45MtotalStockholderEquityDebt—Not reportedCash$1.55McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2020-03-31Operating income / net PP&EOperating income-$1.95MoperatingIncomeNet PP&E—Not reportedResult — |
| 2021 | 0.6%Physical asset ratio · 2021-03-31(Net PP&E + inventory) / total assetsNet PP&E$557.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$92.11MtotalAssetsInventory was not reported and is treated as zero.Result 0.6% | 1.55xFixed asset turnover · 2021-03-31Revenue / net PP&ERevenue$864.00KtotalRevenueNet PP&E$557.00KpropertyPlantAndEquipmentNetResult 1.55x | 4.71xCapex / D&A · 2021-03-31Capital expenditures / depreciation and amortizationCapex$231.00KcapitalExpendituresD&A$49.00KdepreciationAndAmortizationResult 4.71x | $23.19Tangible book / share · 2021-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$92.11MtotalAssetsGoodwill$23.37MgoodWillIntangibles$1.70MintangibleAssetsLiabilities$5.99MtotalLiabTangible book$61.05MShares2,632,286commonStockSharesOutstandingResult $23.19 | -3,121.70xFixed-charge coverage · 2021-03-31(EBITDA − capex) / interestEBITDA-$30.99MebitdaCapex$231.00KcapitalExpendituresInterest$10.00KinterestExpenseEBITDA − capex-$31.22MShort-term debt was not reported, so the denominator is interest only.Result -3,121.70x | -$19.26MFree cash flow · 2021-03-31Reported free cash flowOperating cash flow-$19.03MtotalCashFromOperatingActivitiesCapex$231.00KcapitalExpendituresFree cash flow-$19.26MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$19.26M | —ROIC · 2021-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$31.04MoperatingIncomeTax expense—Not reportedPretax income-$32.22MincomeBeforeTaxTax rate—Equity$86.12MtotalStockholderEquityDebt—Not reportedCash$64.03McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -55.72xEBIT / PP&E · 2021-03-31Operating income / net PP&EOperating income-$31.04MoperatingIncomeNet PP&E$557.00KpropertyPlantAndEquipmentNetResult -55.72x |
| 2022 | 0.3%Physical asset ratio · 2022-03-31(Net PP&E + inventory) / total assetsNet PP&E$491.00KpropertyPlantAndEquipmentNetInventory-$212.00KinventoryTotal assets$84.06MtotalAssetsResult 0.3% | 0.34xFixed asset turnover · 2022-03-31Revenue / net PP&ERevenue$167.76KtotalRevenueNet PP&E$491.00KpropertyPlantAndEquipmentNetResult 0.34x | 3.10xCapex / D&A · 2022-03-31Capital expenditures / depreciation and amortizationCapex$520.00KcapitalExpendituresD&A$168.00KdepreciationAndAmortizationResult 3.10x | $11.63Tangible book / share · 2022-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$84.06MtotalAssetsGoodwill$22.89MgoodWillIntangibles$2.08MintangibleAssetsLiabilities$7.91MtotalLiabTangible book$51.18MShares4,402,295commonStockSharesOutstandingResult $11.63 | -266.35xFixed-charge coverage · 2022-03-31(EBITDA − capex) / interestEBITDA-$63.67MebitdaCapex$520.00KcapitalExpendituresInterest$241.00KinterestExpenseEBITDA − capex-$64.19MShort-term debt was not reported, so the denominator is interest only.Result -266.35x | -$45.73MFree cash flow · 2022-03-31Reported free cash flowOperating cash flow-$45.21MtotalCashFromOperatingActivitiesCapex$520.00KcapitalExpendituresFree cash flow-$45.73MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$45.73M | —ROIC · 2022-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$63.84MoperatingIncomeTax expense-$167.76KincomeTaxExpensePretax income-$67.80MincomeBeforeTaxTax rate—Equity$76.16MtotalStockholderEquityDebt—Not reportedCash$53.64McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -130.02xEBIT / PP&E · 2022-03-31Operating income / net PP&EOperating income-$63.84MoperatingIncomeNet PP&E$491.00KpropertyPlantAndEquipmentNetResult -130.02x |
| 2023 | 3.2%Physical asset ratio · 2023-03-31(Net PP&E + inventory) / total assetsNet PP&E$450.00KpropertyPlantAndEquipmentNetInventory$1.27MinventoryTotal assets$53.90MtotalAssetsResult 3.2% | 0.56xFixed asset turnover · 2023-03-31Revenue / net PP&ERevenue$251.02KtotalRevenueNet PP&E$450.00KpropertyPlantAndEquipmentNetResult 0.56x | 13.18xCapex / D&A · 2023-03-31Capital expenditures / depreciation and amortizationCapex$3.31McapitalExpendituresD&A$251.00KdepreciationAndAmortizationResult 13.18x | $3.68Tangible book / share · 2023-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$53.90MtotalAssetsGoodwill$24.79MgoodWillIntangibles$5.47MintangibleAssetsLiabilities$5.66MtotalLiabTangible book$17.97MShares4,879,704commonStockSharesOutstandingResult $3.68 | —Fixed-charge coverage · 2023-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$51.27MebitdaCapex$3.31McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$54.58MResult — | -$50.74MFree cash flow · 2023-03-31Reported free cash flowOperating cash flow-$47.43MtotalCashFromOperatingActivitiesCapex$3.31McapitalExpendituresFree cash flow-$50.74MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$50.74M | —ROIC · 2023-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$51.52MoperatingIncomeTax expense-$251.02KincomeTaxExpensePretax income-$47.74MincomeBeforeTaxTax rate—Equity$48.23MtotalStockholderEquityDebt—Not reportedCash$16.63McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -114.48xEBIT / PP&E · 2023-03-31Operating income / net PP&EOperating income-$51.52MoperatingIncomeNet PP&E$450.00KpropertyPlantAndEquipmentNetResult -114.48x |
| 2024 | 0.2%Physical asset ratio · 2024-03-31(Net PP&E + inventory) / total assetsNet PP&E$547.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$302.02MtotalAssetsInventory was not reported and is treated as zero.Result 0.2% | -33.18xFixed asset turnover · 2024-03-31Revenue / net PP&ERevenue-$18.15MtotalRevenueNet PP&E$547.00KpropertyPlantAndEquipmentNetResult -33.18x | 1.67xCapex / D&A · 2024-03-31Capital expenditures / depreciation and amortizationCapex$710.00KcapitalExpendituresD&A$424.00KdepreciationAndAmortizationResult 1.67x | $10.45Tangible book / share · 2024-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$302.02MtotalAssetsGoodwill$47.48MgoodWillIntangibles$35.47MintangibleAssetsLiabilities$10.10MtotalLiabTangible book$208.99MShares20,001,403commonStockSharesOutstandingResult $10.45 | —Fixed-charge coverage · 2024-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$78.41MebitdaCapex$710.00KcapitalExpendituresInterest—Not reportedShort-term debt$291.00KshortTermDebtEBITDA − capex-$79.12MPrincipal due is short-term debt.Result — | -$69.62MFree cash flow · 2024-03-31Reported free cash flowOperating cash flow-$68.91MtotalCashFromOperatingActivitiesCapex$710.00KcapitalExpendituresFree cash flow-$69.62MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$69.62M | —ROIC · 2024-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$78.84MoperatingIncomeTax expense$36.72MincomeTaxExpensePretax income-$78.08MincomeBeforeTaxTax rate—Equity$291.93MtotalStockholderEquityDebt$291.00KshortLongTermDebtTotalCash$208.99McashInvested capital$83.23MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -144.12xEBIT / PP&E · 2024-03-31Operating income / net PP&EOperating income-$78.84MoperatingIncomeNet PP&E$547.00KpropertyPlantAndEquipmentNetResult -144.12x |
| 2025 | 0.1%Physical asset ratio · 2025-03-31(Net PP&E + inventory) / total assetsNet PP&E$141.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$258.62MtotalAssetsInventory was not reported and is treated as zero.Result 0.1% | 3.35xFixed asset turnover · 2025-03-31Revenue / net PP&ERevenue$472.27KtotalRevenueNet PP&E$141.00KpropertyPlantAndEquipmentNetResult 3.35x | 4.16xCapex / D&A · 2025-03-31Capital expenditures / depreciation and amortizationCapex$1.97McapitalExpendituresD&A$472.27KdepreciationAndAmortizationResult 4.16x | $7.16Tangible book / share · 2025-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$258.62MtotalAssetsGoodwill$51.49MgoodWillIntangibles$41.02MintangibleAssetsLiabilities$21.42MtotalLiabTangible book$144.70MShares20,222,493commonStockSharesOutstandingResult $7.16 | —Fixed-charge coverage · 2025-03-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$142.67MebitdaCapex$1.97McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$144.64MResult — | -$103.27MFree cash flow · 2025-03-31Reported free cash flowOperating cash flow-$101.30MtotalCashFromOperatingActivitiesCapex$1.97McapitalExpendituresFree cash flow-$103.27MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$103.27M | —ROIC · 2025-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$143.15MoperatingIncomeTax expense-$472.27KincomeTaxExpensePretax income-$113.61MincomeBeforeTaxTax rate—Equity$237.20MtotalStockholderEquityDebt—Not reportedCash$135.02McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1,015.23xEBIT / PP&E · 2025-03-31Operating income / net PP&EOperating income-$143.15MoperatingIncomeNet PP&E$141.00KpropertyPlantAndEquipmentNetResult -1,015.23x |
| 2026 | 0.1%Physical asset ratio · 2026-03-31(Net PP&E + inventory) / total assetsNet PP&E$195.64KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$251.98MtotalAssetsInventory was not reported and is treated as zero.Result 0.1% | -228.40xFixed asset turnover · 2026-03-31Revenue / net PP&ERevenue-$44.68MtotalRevenueNet PP&E$195.64KpropertyPlantAndEquipmentNetResult -228.40x | 11.37xCapex / D&A · 2026-03-31Capital expenditures / depreciation and amortizationCapex$1.36McapitalExpendituresD&A$120.00KdepreciationAndAmortizationResult 11.37x | $4.77Tangible book / share · 2026-03-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$251.98MtotalAssetsGoodwill$36.34MgoodWillIntangibles$30.32MintangibleAssetsLiabilities$19.44MtotalLiabTangible book$165.87MShares34,802,943commonStockSharesOutstandingResult $4.77 | -35.36xFixed-charge coverage · 2026-03-31(EBITDA − capex) / interestEBITDA-$141.56MebitdaCapex$1.36McapitalExpendituresInterest$4.04MinterestExpenseEBITDA − capex-$142.92MShort-term debt was not reported, so the denominator is interest only.Result -35.36x | -$133.79MFree cash flow · 2026-03-31Reported free cash flowOperating cash flow-$132.42MtotalCashFromOperatingActivitiesCapex$1.36McapitalExpendituresFree cash flow-$133.79MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$133.79M | —ROIC · 2026-03-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$141.68MoperatingIncomeTax expense$89.37MincomeTaxExpensePretax income-$57.69MincomeBeforeTaxTax rate—Equity$232.24MtotalStockholderEquityDebt—Not reportedCash$157.78McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -724.17xEBIT / PP&E · 2026-03-31Operating income / net PP&EOperating income-$141.68MoperatingIncomeNet PP&E$195.64KpropertyPlantAndEquipmentNetResult -724.17x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Receivables are larger than the physical asset base, so a finance or credit book may sit outside the physical ratio and inside the debt used for coverage.
- Fixed-charge coverage is EBITDA minus capex, divided by interest. Short-term debt was not reported, so principal due is left out.
Latest year inputs (2026)
Net PP&E: $195.64K
Inventory: $0.00
Total assets: $251.98M
Goodwill: $36.34M
Intangibles: $30.32M
Liabilities: $19.44M
Tangible book: $165.87M
Shares: 34,802,943
Revenue: -$44.68M
Capex: $1.36M
D&A: $120.00K
EBITDA: -$141.56M
Interest: $4.04M
Short-term debt: —
Free cash flow: -$133.79M
Operating income: -$141.68M
Invested capital: —
Tax rate: —