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.
Rave Restaurant Group Inc
Physical assets are 1.4% of total assets, a light footprint. Capex is 0.12x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 65.6%, above an 8% cost-of-capital hurdle.
Fixed-asset turnover is 46.44x. Compare it with other names in the same basket.
Physical asset ratio
1.4%Physical asset ratio · 2026-06-30(Net PP&E + inventory) / total assetsNet PP&E$278.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$19.54MtotalAssetsInventory was not reported and is treated as zero.Result 1.4%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
46.44xFixed asset turnover · 2026-06-30Revenue / net PP&ERevenue$12.91MtotalRevenueNet PP&E$278.00KpropertyPlantAndEquipmentNetResult 46.44x
Revenue per dollar of the physical asset base.
Capex / D&A
0.12xCapex / D&A · 2026-06-30Capital expenditures / depreciation and amortizationCapex$56.00KcapitalExpendituresD&A$480.00KdepreciationAndAmortizationResult 0.12x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$1.20Tangible book / share · 2026-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$19.54MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$100.00KintangibleAssetsLiabilities$2.21MtotalLiabTangible book$17.23MShares14,304,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $1.20
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.83xPrice / tangible bookPrice / tangible book per sharePrice$2.21Latest quoteTangible book / share$1.202026-06-30Result 1.83x
Price $2.21.
Fixed-charge coverage
—Fixed-charge coverage · 2026-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$3.97MebitdaCapex$56.00KcapitalExpendituresInterest—Not reportedShort-term debt$193.00KshortTermDebtEBITDA − capex$3.91MPrincipal due is short-term debt.Result —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
10.6%Free cash flow yield · 2026-06-30Latest free cash flow / current market capFree cash flow$3.34MfreeCashFlowMarket cap$31.55MMarketCapitalizationResult 10.6%
Latest free cash flow divided by current market cap ($31.55M).
ROIC
65.6%ROIC · 2026-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3.47MoperatingIncomeTax expense$1.01MincomeTaxExpensePretax income$3.88MincomeBeforeTaxTax rate25.9%Equity$17.33MtotalStockholderEquityDebt$205.00KshortLongTermDebtTotalCash$13.61McashAndShortTermInvestmentsInvested capital$3.93MResult 65.6%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 12.50x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 4.9%Physical asset ratio · 2019-06-30(Net PP&E + inventory) / total assetsNet PP&E$500.00KpropertyPlantEquipmentInventory$7.00KinventoryTotal assets$10.43MtotalAssetsResult 4.9% | 24.64xFixed asset turnover · 2019-06-30Revenue / net PP&ERevenue$12.32MtotalRevenueNet PP&E$500.00KpropertyPlantEquipmentResult 24.64x | 0.17xCapex / D&A · 2019-06-30Capital expenditures / depreciation and amortizationCapex$81.00KcapitalExpendituresD&A$466.00KdepreciationAndAmortizationResult 0.17x | $0.28Tangible book / share · 2019-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$10.43MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$196.00KintangibleAssetsLiabilities$5.99MtotalLiabTangible book$4.24MShares15,070,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.28 | -3.00xFixed-charge coverage · 2019-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA-$231.00KebitdaCapex$81.00KcapitalExpendituresInterest$104.00KinterestExpenseShort-term debt$0.00shortLongTermDebtTotal − longTermDebtEBITDA − capex-$312.00KShort-term debt is total debt minus long-term debt.Result -3.00x | $578.00KFree cash flow · 2019-06-30Reported free cash flowOperating cash flow$659.00KtotalCashFromOperatingActivitiesCapex$81.00KcapitalExpendituresFree cash flow$578.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $578.00K | —ROIC · 2019-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.68MoperatingIncomeTax expense-$51.00KincomeTaxExpensePretax income-$801.00KincomeBeforeTaxTax rate—Equity$4.43MtotalStockholderEquityDebt$1.58MshortLongTermDebtTotalCash$2.26McashInvested capital$3.75MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 3.36xEBIT / PP&E · 2019-06-30Operating income / net PP&EOperating income$1.68MoperatingIncomeNet PP&E$500.00KpropertyPlantEquipmentResult 3.36x |
| 2020 | 43.4%Physical asset ratio · 2020-06-30(Net PP&E + inventory) / total assetsNet PP&E$3.93MpropertyPlantEquipmentInventory$278.00KinventoryTotal assets$9.71MtotalAssetsResult 43.4% | 2.55xFixed asset turnover · 2020-06-30Revenue / net PP&ERevenue$10.03MtotalRevenueNet PP&E$3.93MpropertyPlantEquipmentResult 2.55x | 0.09xCapex / D&A · 2020-06-30Capital expenditures / depreciation and amortizationCapex$56.00KcapitalExpendituresD&A$657.00KdepreciationAndAmortizationResult 0.09x | $0.02Tangible book / share · 2020-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$9.71MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$155.00KintangibleAssetsLiabilities$9.20MtotalLiabTangible book$348.00KShares15,144,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.02 | 1.92xFixed-charge coverage · 2020-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$1.45MebitdaCapex$56.00KcapitalExpendituresInterest$95.00KinterestExpenseShort-term debt$632.00KshortTermDebtEBITDA − capex$1.40MPrincipal due is short-term debt.Result 1.92x | -$416.00KFree cash flow · 2020-06-30Reported free cash flowOperating cash flow-$360.00KtotalCashFromOperatingActivitiesCapex$56.00KcapitalExpendituresFree cash flow-$416.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$416.00K | —ROIC · 2020-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$982.00KoperatingIncomeTax expense$4.08MincomeTaxExpensePretax income-$155.00KincomeBeforeTaxTax rate—Equity$503.00KtotalStockholderEquityDebt$2.21MlongTermDebt + shortLongTermDebtCash$2.97McashInvested capital—Reported 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 — | 0.25xEBIT / PP&E · 2020-06-30Operating income / net PP&EOperating income$982.00KoperatingIncomeNet PP&E$3.93MpropertyPlantEquipmentResult 0.25x |
| 2021 | 19.2%Physical asset ratio · 2021-06-30(Net PP&E + inventory) / total assetsNet PP&E$2.53MpropertyPlantEquipmentInventory$35.00KinventoryTotal assets$13.35MtotalAssetsResult 19.2% | 3.40xFixed asset turnover · 2021-06-30Revenue / net PP&ERevenue$8.59MtotalRevenueNet PP&E$2.53MpropertyPlantEquipmentResult 3.40x | 0.39xCapex / D&A · 2021-06-30Capital expenditures / depreciation and amortizationCapex$286.00KcapitalExpendituresD&A$736.00KdepreciationAndAmortizationResult 0.39x | $0.31Tangible book / share · 2021-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$13.35MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$183.00KintangibleAssetsLiabilities$7.61MtotalLiabTangible book$5.55MShares18,105,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.31 | 1.06xFixed-charge coverage · 2021-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$2.32MebitdaCapex$286.00KcapitalExpendituresInterest$92.00KinterestExpenseShort-term debt$1.83MshortLongTermDebtEBITDA − capex$2.03MPrincipal due is the current portion of debt.Result 1.06x | $1.20MFree cash flow · 2021-06-30Reported free cash flowOperating cash flow$1.49MtotalCashFromOperatingActivitiesCapex$286.00KcapitalExpendituresFree cash flow$1.20MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $1.20M | —ROIC · 2021-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$1.06MoperatingIncomeTax expense-$29.00KincomeTaxExpensePretax income$1.49MincomeBeforeTaxTax rate0.0%Equity$5.73MtotalStockholderEquityDebt$1.83MlongTermDebt + shortLongTermDebtCash$8.33McashInvested capital—Reported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result — | 0.42xEBIT / PP&E · 2021-06-30Operating income / net PP&EOperating income$1.06MoperatingIncomeNet PP&E$2.53MpropertyPlantEquipmentResult 0.42x |
| 2022 | 11.0%Physical asset ratio · 2022-06-30(Net PP&E + inventory) / total assetsNet PP&E$2.03MpropertyPlantEquipmentInventory$1.00inventoryTotal assets$18.52MtotalAssetsResult 11.0% | 5.27xFixed asset turnover · 2022-06-30Revenue / net PP&ERevenue$10.69MtotalRevenueNet PP&E$2.03MpropertyPlantEquipmentResult 5.27x | 0.27xCapex / D&A · 2022-06-30Capital expenditures / depreciation and amortizationCapex$162.00KcapitalExpendituresD&A$608.00KdepreciationAndAmortizationResult 0.27x | $0.73Tangible book / share · 2022-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$18.52MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$232.00KintangibleAssetsLiabilities$5.10MtotalLiabTangible book$13.18MShares17,993,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.73 | 31.56xFixed-charge coverage · 2022-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$3.03MebitdaCapex$162.00KcapitalExpendituresInterest$61.00KinterestExpenseShort-term debt$30.00KshortLongTermDebtEBITDA − capex$2.87MPrincipal due is the current portion of debt.Result 31.56x | $1.22MFree cash flow · 2022-06-30Reported free cash flowOperating cash flow$1.38MtotalCashFromOperatingActivitiesCapex$162.00KcapitalExpendituresFree cash flow$1.22MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $1.22M | 43.3%ROIC · 2022-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$2.48MoperatingIncomeTax expense-$5.66MincomeTaxExpensePretax income$2.37MincomeBeforeTaxTax rate0.0%Equity$13.41MtotalStockholderEquityDebt$30.00KlongTermDebt + shortLongTermDebtCash$7.72McashInvested capital$5.72MReported total debt was more than 1.5× long-term debt plus the current portion, so invested capital uses those two lines.Result 43.3% | 1.22xEBIT / PP&E · 2022-06-30Operating income / net PP&EOperating income$2.48MoperatingIncomeNet PP&E$2.03MpropertyPlantEquipmentResult 1.22x |
| 2023 | 10.8%Physical asset ratio · 2023-06-30(Net PP&E + inventory) / total assetsNet PP&E$1.49MpropertyPlantEquipmentInventory$52.00KinventoryTotal assets$14.24MtotalAssetsResult 10.8% | 8.01xFixed asset turnover · 2023-06-30Revenue / net PP&ERevenue$11.89MtotalRevenueNet PP&E$1.49MpropertyPlantEquipmentResult 8.01x | 0.36xCapex / D&A · 2023-06-30Capital expenditures / depreciation and amortizationCapex$234.00KcapitalExpendituresD&A$651.00KdepreciationAndAmortizationResult 0.36x | $0.63Tangible book / share · 2023-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$14.24MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$328.00KintangibleAssetsLiabilities$3.85MtotalLiabTangible book$10.06MShares15,911,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.63 | 5.52xFixed-charge coverage · 2023-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$2.80MebitdaCapex$234.00KcapitalExpendituresInterest$1.00KinterestExpenseShort-term debt$464.00KshortTermDebtEBITDA − capex$2.57MPrincipal due is short-term debt.Result 5.52x | $2.40MFree cash flow · 2023-06-30Reported free cash flowOperating cash flow$2.63MtotalCashFromOperatingActivitiesCapex$234.00KcapitalExpendituresFree cash flow$2.40MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.40M | 24.9%ROIC · 2023-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$2.16MoperatingIncomeTax expense$537.00KincomeTaxExpensePretax income$2.15MincomeBeforeTaxTax rate25.0%Equity$10.39MtotalStockholderEquityDebt$1.42MshortLongTermDebtTotalCash$5.33McashInvested capital$6.49MResult 24.9% | 1.45xEBIT / PP&E · 2023-06-30Operating income / net PP&EOperating income$2.16MoperatingIncomeNet PP&E$1.49MpropertyPlantEquipmentResult 1.45x |
| 2024 | 6.7%Physical asset ratio · 2024-06-30(Net PP&E + inventory) / total assetsNet PP&E$999.00KpropertyPlantAndEquipmentNetInventory$59.00KinventoryTotal assets$15.82MtotalAssetsResult 6.7% | 12.16xFixed asset turnover · 2024-06-30Revenue / net PP&ERevenue$12.15MtotalRevenueNet PP&E$999.00KpropertyPlantAndEquipmentNetResult 12.16x | 0.12xCapex / D&A · 2024-06-30Capital expenditures / depreciation and amortizationCapex$76.00KcapitalExpendituresD&A$629.00KdepreciationAndAmortizationResult 0.12x | $0.85Tangible book / share · 2024-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$15.82MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$252.00KintangibleAssetsLiabilities$3.12MtotalLiabTangible book$12.45MShares14,630,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.85 | 6.57xFixed-charge coverage · 2024-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$3.72MebitdaCapex$76.00KcapitalExpendituresInterest$153.00KinterestExpenseShort-term debt$402.00KshortTermDebtEBITDA − capex$3.65MPrincipal due is short-term debt.Result 6.57x | $2.66MFree cash flow · 2024-06-30Reported free cash flowOperating cash flow$2.74MtotalCashFromOperatingActivitiesCapex$76.00KcapitalExpendituresFree cash flow$2.66MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $2.66M | 40.3%ROIC · 2024-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$2.94MoperatingIncomeTax expense$619.00KincomeTaxExpensePretax income$3.09MincomeBeforeTaxTax rate20.0%Equity$12.70MtotalStockholderEquityDebt$957.00KshortLongTermDebtTotalCash$7.83McashAndShortTermInvestmentsInvested capital$5.83MResult 40.3% | 2.94xEBIT / PP&E · 2024-06-30Operating income / net PP&EOperating income$2.94MoperatingIncomeNet PP&E$999.00KpropertyPlantAndEquipmentNetResult 2.94x |
| 2025 | 3.8%Physical asset ratio · 2025-06-30(Net PP&E + inventory) / total assetsNet PP&E$626.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$16.56MtotalAssetsInventory was not reported and is treated as zero.Result 3.8% | 19.23xFixed asset turnover · 2025-06-30Revenue / net PP&ERevenue$12.04MtotalRevenueNet PP&E$626.00KpropertyPlantAndEquipmentNetResult 19.23x | 0.10xCapex / D&A · 2025-06-30Capital expenditures / depreciation and amortizationCapex$56.00KcapitalExpendituresD&A$534.00KdepreciationAndAmortizationResult 0.10x | $0.96Tangible book / share · 2025-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$16.56MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$182.00KintangibleAssetsLiabilities$2.40MtotalLiabTangible book$13.97MShares14,561,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $0.96 | 5.17xFixed-charge coverage · 2025-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$3.80MebitdaCapex$56.00KcapitalExpendituresInterest$354.00KinterestExpenseShort-term debt$370.00KshortTermDebtEBITDA − capex$3.74MPrincipal due is short-term debt.Result 5.17x | $3.34MFree cash flow · 2025-06-30Reported free cash flowOperating cash flow$3.40MtotalCashFromOperatingActivitiesCapex$56.00KcapitalExpendituresFree cash flow$3.34MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $3.34M | 50.3%ROIC · 2025-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3.27MoperatingIncomeTax expense$918.00KincomeTaxExpensePretax income$3.62MincomeBeforeTaxTax rate25.4%Equity$14.15MtotalStockholderEquityDebt$576.00KshortLongTermDebtTotalCash$9.88McashAndShortTermInvestmentsInvested capital$4.85MResult 50.3% | 5.22xEBIT / PP&E · 2025-06-30Operating income / net PP&EOperating income$3.27MoperatingIncomeNet PP&E$626.00KpropertyPlantAndEquipmentNetResult 5.22x |
| 2026 | 1.4%Physical asset ratio · 2026-06-30(Net PP&E + inventory) / total assetsNet PP&E$278.00KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$19.54MtotalAssetsInventory was not reported and is treated as zero.Result 1.4% | 46.44xFixed asset turnover · 2026-06-30Revenue / net PP&ERevenue$12.91MtotalRevenueNet PP&E$278.00KpropertyPlantAndEquipmentNetResult 46.44x | 0.12xCapex / D&A · 2026-06-30Capital expenditures / depreciation and amortizationCapex$56.00KcapitalExpendituresD&A$480.00KdepreciationAndAmortizationResult 0.12x | $1.20Tangible book / share · 2026-06-30(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$19.54MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$100.00KintangibleAssetsLiabilities$2.21MtotalLiabTangible book$17.23MShares14,304,000commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $1.20 | —Fixed-charge coverage · 2026-06-30(EBITDA − capex) / (interest + short-term debt)EBITDA$3.97MebitdaCapex$56.00KcapitalExpendituresInterest—Not reportedShort-term debt$193.00KshortTermDebtEBITDA − capex$3.91MPrincipal due is short-term debt.Result — | $3.34MFree cash flow · 2026-06-30Reported free cash flowOperating cash flow$3.40MtotalCashFromOperatingActivitiesCapex$56.00KcapitalExpendituresFree cash flow$3.34MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $3.34M | 65.6%ROIC · 2026-06-30Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$3.47MoperatingIncomeTax expense$1.01MincomeTaxExpensePretax income$3.88MincomeBeforeTaxTax rate25.9%Equity$17.33MtotalStockholderEquityDebt$205.00KshortLongTermDebtTotalCash$13.61McashAndShortTermInvestmentsInvested capital$3.93MResult 65.6% | 12.50xEBIT / PP&E · 2026-06-30Operating income / net PP&EOperating income$3.47MoperatingIncomeNet PP&E$278.00KpropertyPlantAndEquipmentNetResult 12.50x |
- 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.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2026)
Net PP&E: $278.00K
Inventory: $0.00
Total assets: $19.54M
Goodwill: $0.00
Intangibles: $100.00K
Liabilities: $2.21M
Tangible book: $17.23M
Shares: 14,304,000
Revenue: $12.91M
Capex: $56.00K
D&A: $480.00K
EBITDA: $3.97M
Interest: —
Short-term debt: $193.00K
Free cash flow: $3.34M
Operating income: $3.47M
Invested capital: $3.93M
Tax rate: 25.9%