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.
Prothena Corporation plc
Physical assets are 3.1% of total assets, a light footprint. Capex is 0.15x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets.
Fixed-asset turnover is 0.94x. Compare it with other names in the same basket.
Physical asset ratio
3.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$10.27MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$326.80MtotalAssetsInventory was not reported and is treated as zero.Result 3.1%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.94xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$9.68MtotalRevenueNet PP&E$10.27MpropertyPlantAndEquipmentNetResult 0.94x
Revenue per dollar of the physical asset base.
Capex / D&A
0.15xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$138.00KcapitalExpendituresD&A$895.00KdepreciationAndAmortizationResult 0.15x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$5.21Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$326.80MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$46.33MtotalLiabTangible book$280.47MShares53,829,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $5.21
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.63xPrice / tangible bookPrice / tangible book per sharePrice$8.47Latest quoteTangible book / share$5.212025-12-31Result 1.63x
Price $8.47.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$199.93MebitdaCapex$138.00KcapitalExpendituresInterest—Not reportedShort-term debt$2.89MshortTermDebtEBITDA − capex-$200.07MPrincipal due is short-term debt.Result —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-35.9%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$163.72MfreeCashFlowMarket cap$455.87MMarketCapitalizationResult -35.9%
Latest free cash flow divided by current market cap ($455.87M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$184.56MoperatingIncomeTax expense$43.26MincomeTaxExpensePretax income-$200.83MincomeBeforeTaxTax rate—Equity$280.47MtotalStockholderEquityDebt$13.86MshortLongTermDebtTotalCash$307.53McashInvested 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 -17.97x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 10.6%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$52.84MpropertyPlantEquipmentInventory$1.00inventoryTotal assets$498.80MtotalAssetsResult 10.6% | 0.02xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$955.00KtotalRevenueNet PP&E$52.84MpropertyPlantEquipmentResult 0.02x | 0.55xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$1.77McapitalExpendituresD&A$3.22MdepreciationAndAmortizationResult 0.55x | $8.16Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$498.80MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$175.80MtotalLiabTangible book$323.00MShares39,559,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $8.16 | -28.95xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$152.90MebitdaCapex$1.77McapitalExpendituresInterest$3.70MinterestExpenseShort-term debt$1.65MshortTermDebtEBITDA − capex-$154.67MPrincipal due is short-term debt.Result -28.95x | -$30.04MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-$28.28MtotalCashFromOperatingActivitiesCapex$1.77McapitalExpendituresFree cash flow-$30.04MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$30.04M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$158.86MoperatingIncomeTax expense-$470.00KincomeTaxExpensePretax income-$156.12MincomeBeforeTaxTax rate—Equity$323.00MtotalStockholderEquityDebt$51.55MshortLongTermDebtTotalCash$427.66McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.01xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-$158.86MoperatingIncomeNet PP&E$52.84MpropertyPlantEquipmentResult -3.01x |
| 2019 | 6.5%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$27.15MpropertyPlantAndEquipmentNetInventory-$68.00KinventoryTotal assets$419.27MtotalAssetsResult 6.5% | 0.03xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$814.00KtotalRevenueNet PP&E$27.15MpropertyPlantAndEquipmentNetResult 0.03x | 0.08xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$555.00KcapitalExpendituresD&A$6.82MdepreciationAndAmortizationResult 0.08x | $6.84Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$419.27MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$146.35MtotalLiabTangible book$272.92MShares39,882,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $6.84 | -5.98xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$78.94MebitdaCapex$555.00KcapitalExpendituresInterest$8.20MinterestExpenseShort-term debt$5.10MshortTermDebtEBITDA − capex-$79.49MPrincipal due is short-term debt.Result -5.98x | -$53.52MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$52.97MtotalCashFromOperatingActivitiesCapex$555.00KcapitalExpendituresFree cash flow-$53.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$53.52M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$85.70MoperatingIncomeTax expense$379.00KincomeTaxExpensePretax income-$77.30MincomeBeforeTaxTax rate—Equity$272.92MtotalStockholderEquityDebt$22.94MshortLongTermDebtTotalCash$375.72McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.16xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$85.70MoperatingIncomeNet PP&E$27.15MpropertyPlantAndEquipmentNetResult -3.16x |
| 2020 | 6.5%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$20.36MpropertyPlantAndEquipmentNetInventory$1.35MinventoryTotal assets$332.98MtotalAssetsResult 6.5% | 0.04xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$853.00KtotalRevenueNet PP&E$20.36MpropertyPlantAndEquipmentNetResult 0.04x | 0.03xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$196.00KcapitalExpendituresD&A$6.98MdepreciationAndAmortizationResult 0.03x | $4.61Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$332.98MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$148.97MtotalLiabTangible book$184.01MShares39,915,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $4.61 | -7.68xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$105.76MebitdaCapex$196.00KcapitalExpendituresInterest$8.28MinterestExpenseShort-term debt$5.51MshortTermDebtEBITDA − capex-$105.95MPrincipal due is short-term debt.Result -7.68x | -$80.56MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$80.36MtotalCashFromOperatingActivitiesCapex$196.00KcapitalExpendituresFree cash flow-$80.56MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$80.56M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$112.73MoperatingIncomeTax expense-$283.00KincomeTaxExpensePretax income-$111.43MincomeBeforeTaxTax rate—Equity$184.01MtotalStockholderEquityDebt$17.84MshortLongTermDebtTotalCash$295.38McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -5.54xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$112.73MoperatingIncomeNet PP&E$20.36MpropertyPlantAndEquipmentNetResult -5.54x |
| 2021 | 2.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$14.14MpropertyPlantAndEquipmentNetInventory-$13.00KinventoryTotal assets$609.37MtotalAssetsResult 2.3% | 14.19xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$200.58MtotalRevenueNet PP&E$14.14MpropertyPlantAndEquipmentNetResult 14.19x | 0.08xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$575.00KcapitalExpendituresD&A$6.80MdepreciationAndAmortizationResult 0.08x | $9.62Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$609.37MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$143.32MtotalLiabTangible book$466.04MShares48,464,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $9.62 | 6.16xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$78.78MebitdaCapex$575.00KcapitalExpendituresInterest$6.75MinterestExpenseShort-term debt$5.94MshortTermDebtEBITDA − capex$78.20MPrincipal due is short-term debt.Result 6.16x | $92.03MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$92.61MtotalCashFromOperatingActivitiesCapex$575.00KcapitalExpendituresFree cash flow$92.03MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $92.03M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$71.98MoperatingIncomeTax expense$4.95MincomeTaxExpensePretax income$71.92MincomeBeforeTaxTax rate6.9%Equity$466.04MtotalStockholderEquityDebt$12.33MshortLongTermDebtTotalCash$579.09McashInvested capital—Result — | 5.09xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$71.98MoperatingIncomeNet PP&E$14.14MpropertyPlantAndEquipmentNetResult 5.09x |
| 2022 | 1.0%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$8.01MpropertyPlantEquipmentInventory-$62.00KinventoryTotal assets$758.04MtotalAssetsResult 1.0% | 6.73xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$53.91MtotalRevenueNet PP&E$8.01MpropertyPlantEquipmentResult 6.73x | 0.62xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$464.00KcapitalExpendituresD&A$744.00KdepreciationAndAmortizationResult 0.62x | $13.13Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$758.04MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$135.99MtotalLiabTangible book$622.04MShares47,369,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $13.13 | -9.97xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$130.81MebitdaCapex$464.00KcapitalExpendituresInterest$6.70MinterestExpenseShort-term debt$6.47MshortTermDebtEBITDA − capex-$131.28MPrincipal due is short-term debt.Result -9.97x | -$109.29MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$108.82MtotalCashFromOperatingActivitiesCapex$464.00KcapitalExpendituresFree cash flow-$109.29MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$109.29M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$131.56MoperatingIncomeTax expense-$8.66MincomeTaxExpensePretax income-$125.61MincomeBeforeTaxTax rate—Equity$622.04MtotalStockholderEquityDebt$6.47MshortLongTermDebtTotalCash$710.41McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -16.43xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$131.56MoperatingIncomeNet PP&E$8.01MpropertyPlantEquipmentResult -16.43x |
| 2023 | 1.6%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$16.00MpropertyPlantAndEquipmentNetInventory-$5.16MinventoryTotal assets$696.38MtotalAssetsResult 1.6% | 5.71xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$91.37MtotalRevenueNet PP&E$16.00MpropertyPlantAndEquipmentNetResult 5.71x | 3.03xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$2.81McapitalExpendituresD&A$928.00KdepreciationAndAmortizationResult 3.03x | $10.55Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$696.38MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$135.02MtotalLiabTangible book$561.37MShares53,216,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $10.55 | —Fixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$159.55MebitdaCapex$2.81McapitalExpendituresInterest—Not reportedShort-term debt$1.11MshortTermDebtEBITDA − capex-$162.36MPrincipal due is short-term debt.Result — | -$136.72MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$133.91MtotalCashFromOperatingActivitiesCapex$2.81McapitalExpendituresFree cash flow-$136.72MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$136.72M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$191.04MoperatingIncomeTax expense-$13.45MincomeTaxExpensePretax income-$160.48MincomeBeforeTaxTax rate—Equity$561.37MtotalStockholderEquityDebt$11.84MshortLongTermDebtTotalCash$618.83McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -11.94xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$191.04MoperatingIncomeNet PP&E$16.00MpropertyPlantAndEquipmentNetResult -11.94x |
| 2024 | 2.5%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$13.79MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$547.11MtotalAssetsInventory was not reported and is treated as zero.Result 2.5% | 9.80xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$135.16MtotalRevenueNet PP&E$13.79MpropertyPlantAndEquipmentNetResult 9.80x | 0.33xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$298.00KcapitalExpendituresD&A$893.00KdepreciationAndAmortizationResult 0.33x | $9.06Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$547.11MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$60.18MtotalLiabTangible book$486.93MShares53,772,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $9.06 | —Fixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$128.04MebitdaCapex$298.00KcapitalExpendituresInterest—Not reportedShort-term debt$2.61MshortTermDebtEBITDA − capex-$128.34MPrincipal due is short-term debt.Result — | -$150.35MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$150.05MtotalCashFromOperatingActivitiesCapex$298.00KcapitalExpendituresFree cash flow-$150.35MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$150.35M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$154.56MoperatingIncomeTax expense-$6.62MincomeTaxExpensePretax income-$128.93MincomeBeforeTaxTax rate—Equity$486.93MtotalStockholderEquityDebt$10.84MshortLongTermDebtTotalCash$471.39McashInvested capital$26.38MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -11.21xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$154.56MoperatingIncomeNet PP&E$13.79MpropertyPlantAndEquipmentNetResult -11.21x |
| 2025 | 3.1%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$10.27MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$326.80MtotalAssetsInventory was not reported and is treated as zero.Result 3.1% | 0.94xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$9.68MtotalRevenueNet PP&E$10.27MpropertyPlantAndEquipmentNetResult 0.94x | 0.15xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$138.00KcapitalExpendituresD&A$895.00KdepreciationAndAmortizationResult 0.15x | $5.21Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$326.80MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$46.33MtotalLiabTangible book$280.47MShares53,829,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $5.21 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$199.93MebitdaCapex$138.00KcapitalExpendituresInterest—Not reportedShort-term debt$2.89MshortTermDebtEBITDA − capex-$200.07MPrincipal due is short-term debt.Result — | -$163.72MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$163.58MtotalCashFromOperatingActivitiesCapex$138.00KcapitalExpendituresFree cash flow-$163.72MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$163.72M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$184.56MoperatingIncomeTax expense$43.26MincomeTaxExpensePretax income-$200.83MincomeBeforeTaxTax rate—Equity$280.47MtotalStockholderEquityDebt$13.86MshortLongTermDebtTotalCash$307.53McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -17.97xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$184.56MoperatingIncomeNet PP&E$10.27MpropertyPlantAndEquipmentNetResult -17.97x |
- 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: $10.27M
Inventory: $0.00
Total assets: $326.80M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $46.33M
Tangible book: $280.47M
Shares: 53,829,000
Revenue: $9.68M
Capex: $138.00K
D&A: $895.00K
EBITDA: -$199.93M
Interest: —
Short-term debt: $2.89M
Free cash flow: -$163.72M
Operating income: -$184.56M
Invested capital: —
Tax rate: —