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.
Quantum BioPharma Ltd.
Physical assets are 2.0% of total assets, a light footprint. Capex is 0.00x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -10.78x, which is below 1.
Fixed-asset turnover is 0.00x. Compare it with other names in the same basket.
Physical asset ratio
2.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$169.04KpropertyPlantAndEquipmentNetInventory$52.04KinventoryTotal assets$11.14MtotalAssetsResult 2.0%
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$169.04KpropertyPlantAndEquipmentNetResult 0.00x
Revenue per dollar of the physical asset base.
Capex / D&A
0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$545.78KdepreciationAndAmortizationResult 0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.18Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$11.14MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$4.50MintangibleAssetsLiabilities$6.05MtotalLiabTangible book$588.34KShares3,285,876commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.18
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
13.52xPrice / tangible bookPrice / tangible book per sharePrice$2.42Latest quoteTangible book / share$0.182025-12-31Result 13.52x
Price $2.42.
Fixed-charge coverage
-10.78xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$25.79MebitdaCapex$0.00capitalExpendituresInterest$618.64KinterestExpenseShort-term debt$1.77MshortLongTermDebtEBITDA − capex-$25.79MPrincipal due is the current portion of debt.Result -10.78x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-53.4%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$8.38MfreeCashFlowMarket cap$15.69MMarketCapitalizationResult -53.4%
Latest free cash flow divided by current market cap ($15.69M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$15.30MoperatingIncomeTax expense—Not reportedPretax income-$26.96MincomeBeforeTaxTax rate—Equity$6.91MtotalStockholderEquityDebt$1.87MshortLongTermDebtTotalCash$6.17McashAndShortTermInvestmentsInvested capital$2.62MROIC 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 -90.53x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 23.0%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$8.91MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$38.75MtotalAssetsInventory was not reported and is treated as zero.Result 23.0% | —Fixed asset turnover · 2018-12-31Revenue / net PP&ERevenue—Not reportedNet PP&E$8.91MpropertyPlantAndEquipmentNetResult — | 22.01xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$2.96McapitalExpendituresD&A$134.50KdepreciationAndAmortizationResult 22.01x | $412.42Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$38.75MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$1.28MtotalLiabTangible book$37.47MShares90,848commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $412.42 | —Fixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$16.54MebitdaCapex$2.96McapitalExpendituresInterest—Not reportedShort-term debt—Not reportedEBITDA − capex-$19.50MResult — | -$16.54MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-$13.58MtotalCashFromOperatingActivitiesCapex$2.96McapitalExpendituresFree cash flow-$16.54MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$16.54M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$16.67MebitTax expense—Not reportedPretax income-$16.67MincomeBeforeTaxTax rate—Equity$37.47MtotalStockholderEquityDebt—Not reportedCash$15.52McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1.87xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-$16.67MebitNet PP&E$8.91MpropertyPlantAndEquipmentNetResult -1.87x |
| 2019 | 22.4%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$8.98MpropertyPlantAndEquipmentNetInventory$709.37KinventoryTotal assets$43.22MtotalAssetsResult 22.4% | —Fixed asset turnover · 2019-12-31Revenue / net PP&ERevenue—Not reportedNet PP&E$8.98MpropertyPlantAndEquipmentNetResult — | 0.15xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$293.13KcapitalExpendituresD&A$1.94MdepreciationAndAmortizationResult 0.15x | $179.23Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$43.22MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$16.82MintangibleAssetsLiabilities$6.94MtotalLiabTangible book$19.46MShares108,557commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $179.23 | -19.76xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$31.98MebitdaCapex$293.13KcapitalExpendituresInterest$155.32KinterestExpenseShort-term debt$1.48MshortTermDebtEBITDA − capex-$32.28MPrincipal due is short-term debt.Result -19.76x | -$14.01MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$13.71MtotalCashFromOperatingActivitiesCapex$293.13KcapitalExpendituresFree cash flow-$14.01MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$14.01M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$30.58MoperatingIncomeTax expense—Not reportedPretax income-$46.45MincomeBeforeTaxTax rate—Equity$36.28MtotalStockholderEquityDebt$1.59MshortLongTermDebtTotalCash$5.97McashInvested capital$31.90MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.41xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$30.58MoperatingIncomeNet PP&E$8.98MpropertyPlantAndEquipmentNetResult -3.41x |
| 2020 | —Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E—Not reportedInventory$0.00inventoryTotal assets$41.97MtotalAssetsResult — | —Fixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E—Not reportedResult — | 0.00xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$3.46capitalExpendituresD&A$3.90MdepreciationAndAmortizationResult 0.00x | $123.50Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$41.97MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$13.42MintangibleAssetsLiabilities$5.66MtotalLiabTangible book$22.88MShares185,291commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $123.50 | -39.21xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$24.32MebitdaCapex$3.46capitalExpendituresInterest$235.58KinterestExpenseShort-term debt$384.65KshortLongTermDebtEBITDA − capex-$24.32MPrincipal due is the current portion of debt.Result -39.21x | -$19.13MFree cash flow · 2020-12-31Operating cash flow − capexOperating cash flow-$19.13MtotalCashFromOperatingActivitiesCapex$3.46capitalExpendituresFree cash flow-$19.13MNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$19.13M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$30.69MoperatingIncomeTax expense—Not reportedPretax income-$28.45MincomeBeforeTaxTax rate—Equity$36.31MtotalStockholderEquityDebt$510.61KshortLongTermDebtTotalCash$17.52McashInvested capital$19.29MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$30.69MoperatingIncomeNet PP&E—Not reportedResult — |
| 2021 | 0.3%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$168.31KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$62.96MtotalAssetsInventory was not reported and is treated as zero.Result 0.3% | 0.00xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$168.31KpropertyPlantAndEquipmentNetResult 0.00x | 0.12xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$500.00KcapitalExpendituresD&A$4.05MdepreciationAndAmortizationResult 0.12x | $70.55Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$62.96MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$16.20MintangibleAssetsLiabilities$8.83MtotalLiabTangible book$37.93MShares537,618commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $70.55 | -81.96xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$29.82MebitdaCapex$500.00KcapitalExpendituresInterest$69.40KinterestExpenseShort-term debt$300.55KshortLongTermDebtEBITDA − capex-$30.32MPrincipal due is the current portion of debt.Result -81.96x | -$21.25MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$20.75MtotalCashFromOperatingActivitiesCapex$500.00KcapitalExpendituresFree cash flow-$21.25MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$21.25M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$33.74MoperatingIncomeTax expense—Not reportedPretax income-$33.94MincomeBeforeTaxTax rate—Equity$54.13MtotalStockholderEquityDebt$300.55KlongTermDebt + shortLongTermDebtCash$35.42McashAndShortTermInvestmentsInvested capital$19.01MReported 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 — | -200.49xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$33.74MoperatingIncomeNet PP&E$168.31KpropertyPlantAndEquipmentNetResult -200.49x |
| 2022 | 0.7%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$260.93KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$38.41MtotalAssetsInventory was not reported and is treated as zero.Result 0.7% | 0.00xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$260.93KpropertyPlantAndEquipmentNetResult 0.00x | 0.08xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$363.96KcapitalExpendituresD&A$4.53MdepreciationAndAmortizationResult 0.08x | $31.05Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$38.41MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$12.04MintangibleAssetsLiabilities$7.87MtotalLiabTangible book$18.50MShares595,882commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $31.05 | -64.36xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$22.12MebitdaCapex$363.96KcapitalExpendituresInterest$48.82KinterestExpenseShort-term debt$300.55KshortLongTermDebtEBITDA − capex-$22.48MPrincipal due is the current portion of debt.Result -64.36x | -$28.70MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$28.33MtotalCashFromOperatingActivitiesCapex$363.96KcapitalExpendituresFree cash flow-$28.70MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$28.70M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$27.43MoperatingIncomeTax expense—Not reportedPretax income-$26.70MincomeBeforeTaxTax rate—Equity$30.54MtotalStockholderEquityDebt$300.55KlongTermDebt + shortLongTermDebtCash$17.00McashAndShortTermInvestmentsInvested capital$13.84MReported 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 — | -105.12xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$27.43MoperatingIncomeNet PP&E$260.93KpropertyPlantAndEquipmentNetResult -105.12x |
| 2023 | 0.7%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$120.42KpropertyPlantAndEquipmentNetInventory$0.00inventoryTotal assets$17.47MtotalAssetsResult 0.7% | 0.00xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$120.42KpropertyPlantAndEquipmentNetResult 0.00x | 0.00xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$2.20capitalExpendituresD&A$2.51MdepreciationAndAmortizationResult 0.00x | $12.40Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$17.47MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$5.36MintangibleAssetsLiabilities$4.57MtotalLiabTangible book$7.55MShares609,056commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $12.40 | -52.27xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$15.72MebitdaCapex$2.20capitalExpendituresInterest$299.00interestExpenseShort-term debt$300.55KshortLongTermDebtEBITDA − capex-$15.72MPrincipal due is the current portion of debt.Result -52.27x | -$10.83MFree cash flow · 2023-12-31Operating cash flow − capexOperating cash flow-$10.83MtotalCashFromOperatingActivitiesCapex$2.20capitalExpendituresFree cash flow-$10.83MNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$10.83M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$23.79MoperatingIncomeTax expense—Not reportedPretax income-$18.23MincomeBeforeTaxTax rate—Equity$13.24MtotalStockholderEquityDebt$339.20KshortLongTermDebtTotalCash$3.51McashAndShortTermInvestmentsInvested capital$10.06MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -197.55xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$23.79MoperatingIncomeNet PP&E$120.42KpropertyPlantAndEquipmentNetResult -197.55x |
| 2024 | 1.4%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$130.38KpropertyPlantAndEquipmentNetInventory$117.24KinventoryTotal assets$17.12MtotalAssetsResult 1.4% | 0.00xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$130.38KpropertyPlantAndEquipmentNetResult 0.00x | 0.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$1.43capitalExpendituresD&A$490.57KdepreciationAndAmortizationResult 0.00x | $4.84Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$17.12MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$4.93MintangibleAssetsLiabilities$6.68MtotalLiabTangible book$5.51MShares1,136,922commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $4.84 | -17.56xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$14.38MebitdaCapex$1.43capitalExpendituresInterest$47.58KinterestExpenseShort-term debt$771.14KshortLongTermDebtEBITDA − capex-$14.38MPrincipal due is the current portion of debt.Result -17.56x | -$6.88MFree cash flow · 2024-12-31Operating cash flow − capexOperating cash flow-$6.88MtotalCashFromOperatingActivitiesCapex$1.43capitalExpendituresFree cash flow-$6.88MNot reportedReported free cash flow matched operating cash flow, so capex was subtracted.Result -$6.88M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$16.14MoperatingIncomeTax expense—Not reportedPretax income-$14.92MincomeBeforeTaxTax rate—Equity$11.48MtotalStockholderEquityDebt$824.92KshortLongTermDebtTotalCash$7.20McashAndShortTermInvestmentsInvested capital$5.11MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -123.76xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$16.14MoperatingIncomeNet PP&E$130.38KpropertyPlantAndEquipmentNetResult -123.76x |
| 2025 | 2.0%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$169.04KpropertyPlantAndEquipmentNetInventory$52.04KinventoryTotal assets$11.14MtotalAssetsResult 2.0% | 0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$169.04KpropertyPlantAndEquipmentNetResult 0.00x | 0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$545.78KdepreciationAndAmortizationResult 0.00x | $0.18Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$11.14MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$4.50MintangibleAssetsLiabilities$6.05MtotalLiabTangible book$588.34KShares3,285,876commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.18 | -10.78xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$25.79MebitdaCapex$0.00capitalExpendituresInterest$618.64KinterestExpenseShort-term debt$1.77MshortLongTermDebtEBITDA − capex-$25.79MPrincipal due is the current portion of debt.Result -10.78x | -$8.38MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$8.38MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow-$8.38MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$8.38M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$15.30MoperatingIncomeTax expense—Not reportedPretax income-$26.96MincomeBeforeTaxTax rate—Equity$6.91MtotalStockholderEquityDebt$1.87MshortLongTermDebtTotalCash$6.17McashAndShortTermInvestmentsInvested capital$2.62MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -90.53xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$15.30MoperatingIncomeNet PP&E$169.04KpropertyPlantAndEquipmentNetResult -90.53x |
- 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.
- Principal due is the current portion of debt.
Latest year inputs (2025)
Net PP&E: $169.04K
Inventory: $52.04K
Total assets: $11.14M
Goodwill: $0.00
Intangibles: $4.50M
Liabilities: $6.05M
Tangible book: $588.34K
Shares: 3,285,876
Revenue: $0.00
Capex: $0.00
D&A: $545.78K
EBITDA: -$25.79M
Interest: $618.64K
Short-term debt: $1.77M
Free cash flow: -$8.38M
Operating income: -$15.30M
Invested capital: $2.62M
Tax rate: —