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.
Kailera Therapeutics, Inc. Common Stock
Physical assets are 1.8% of total assets, a light footprint. Capex is 6.74x 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
1.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$12.42MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$692.29MtotalAssetsInventory was not reported and is treated as zero.Result 1.8%
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$12.42MpropertyPlantAndEquipmentNetResult 0.00x
Revenue per dollar of the physical asset base.
Capex / D&A
6.74xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$2.09McapitalExpendituresD&A$310.00KdepreciationAndAmortizationResult 6.74x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$3.02Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$692.29MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.05BtotalLiabTangible book-$356.46MShares117,948,773commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$3.02
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice$13.41Latest quoteTangible book / share-$3.022025-12-31Tangible book per share is not positive, so the multiple is left blank.Result —
Price $13.41.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$158.03MebitdaCapex$2.09McapitalExpendituresInterest—Not reportedShort-term debt$1.04MshortTermDebtEBITDA − capex-$160.12MPrincipal due is short-term debt.Result —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-7.0%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$122.30MfreeCashFlowMarket cap$1.74BMarketCapitalizationResult -7.0%
Latest free cash flow divided by current market cap ($1.74B).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$158.34MoperatingIncomeTax expense—Not reportedPretax income-$148.96MincomeBeforeTaxTax rate—Equity-$356.46MtotalStockholderEquityDebt$10.75MshortLongTermDebtTotalCash$546.06McashAndShortTermInvestmentsInvested 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 -12.75x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2024 | 0.4%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$680.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$178.45MtotalAssetsInventory was not reported and is treated as zero.Result 0.4% | —Fixed asset turnover · 2024-12-31Revenue / net PP&ERevenue—Not reportedNet PP&E$680.00KpropertyPlantAndEquipmentNetResult — | —Capex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex—Not reportedD&A—Not reportedResult — | -$1.85Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$178.45MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$397.22MtotalLiabTangible book-$218.77MShares117,948,773commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$1.85 | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapex—Not reportedInterest—Not reportedShort-term debt—Not reportedResult — | —Free cash flow · 2024-12-31Operating cash flow − capexOperating cash flow—Not reportedCapex—Not reportedFree cash flow—Not reportedResult — | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expense—Not reportedPretax income—Not reportedTax rate—Equity-$218.77MtotalStockholderEquityDebt—Not reportedCash$175.18McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income—Not reportedNet PP&E$680.00KpropertyPlantAndEquipmentNetResult — |
| 2025 | 1.8%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$12.42MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$692.29MtotalAssetsInventory was not reported and is treated as zero.Result 1.8% | 0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$12.42MpropertyPlantAndEquipmentNetResult 0.00x | 6.74xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$2.09McapitalExpendituresD&A$310.00KdepreciationAndAmortizationResult 6.74x | -$3.02Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$692.29MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.05BtotalLiabTangible book-$356.46MShares117,948,773commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result -$3.02 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$158.03MebitdaCapex$2.09McapitalExpendituresInterest—Not reportedShort-term debt$1.04MshortTermDebtEBITDA − capex-$160.12MPrincipal due is short-term debt.Result — | -$122.30MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$120.21MtotalCashFromOperatingActivitiesCapex$2.09McapitalExpendituresFree cash flow-$122.30MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$122.30M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$158.34MoperatingIncomeTax expense—Not reportedPretax income-$148.96MincomeBeforeTaxTax rate—Equity-$356.46MtotalStockholderEquityDebt$10.75MshortLongTermDebtTotalCash$546.06McashAndShortTermInvestmentsInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -12.75xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$158.34MoperatingIncomeNet PP&E$12.42MpropertyPlantAndEquipmentNetResult -12.75x |
- 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: $12.42M
Inventory: $0.00
Total assets: $692.29M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $1.05B
Tangible book: -$356.46M
Shares: 117,948,773
Revenue: $0.00
Capex: $2.09M
D&A: $310.00K
EBITDA: -$158.03M
Interest: —
Short-term debt: $1.04M
Free cash flow: -$122.30M
Operating income: -$158.34M
Invested capital: —
Tax rate: —