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.
Rocket Pharmaceuticals Inc
Physical assets are 21.7% of total assets, a light footprint. Capex is 0.04x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -43.83x, which is below 1.
Fixed-asset turnover is 0.00x. Compare it with other names in the same basket.
Physical asset ratio
21.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$71.59MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$330.45MtotalAssetsInventory was not reported and is treated as zero.Result 21.7%
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$71.59MpropertyPlantAndEquipmentNetResult 0.00x
Revenue per dollar of the physical asset base.
Capex / D&A
0.04xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$440.00KcapitalExpendituresD&A$11.03MdepreciationAndAmortizationResult 0.04x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$1.92Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$330.45MtotalAssetsGoodwill$39.15MgoodWillIntangibles$25.15MintangibleAssetsLiabilities$53.23MtotalLiabTangible book$212.92MShares111,123,770commonStockSharesOutstandingResult $1.92
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
1.27xPrice / tangible bookPrice / tangible book per sharePrice$2.44Latest quoteTangible book / share$1.922025-12-31Result 1.27x
Price $2.44.
Fixed-charge coverage
-43.83xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$210.21MebitdaCapex$440.00KcapitalExpendituresInterest$1.89MinterestExpenseShort-term debt$2.92MshortTermDebtEBITDA − capex-$210.65MPrincipal due is short-term debt.Result -43.83x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-71.1%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$190.45MfreeCashFlowMarket cap$267.85MMarketCapitalizationResult -71.1%
Latest free cash flow divided by current market cap ($267.85M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$228.52MoperatingIncomeTax expense—Not reportedPretax income-$223.12MincomeBeforeTaxTax rate—Equity$277.22MtotalStockholderEquityDebt$24.88MshortLongTermDebtTotalCash$188.93McashAndShortTermInvestmentsInvested capital$113.17MROIC 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 -3.19x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 0.8%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$2.03MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$251.31MtotalAssetsInventory was not reported and is treated as zero.Result 0.8% | 0.00xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$2.03MpropertyPlantEquipmentResult 0.00x | 4.40xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$1.45McapitalExpendituresD&A$330.00KdepreciationAndAmortizationResult 4.40x | $4.15Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$251.31MtotalAssetsGoodwill$30.82MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$57.28MtotalLiabTangible book$163.22MShares39,377,666commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $4.15 | -13.86xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$71.16MebitdaCapex$1.45McapitalExpendituresInterest$5.24MinterestExpenseShort-term debt$589.00shortTermDebtEBITDA − capex-$72.61MPrincipal due is short-term debt.Result -13.86x | -$55.24MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-$53.79MtotalCashFromOperatingActivitiesCapex$1.45McapitalExpendituresFree cash flow-$55.24MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$55.24M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$71.16MoperatingIncomeTax expense$2.68MincomeTaxExpensePretax income-$74.52MincomeBeforeTaxTax rate—Equity$194.04MtotalStockholderEquityDebt$41.45MshortLongTermDebtTotalCash$205.73McashAndShortTermInvestmentsInvested capital$29.75MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -35.10xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income-$71.16MoperatingIncomeNet PP&E$2.03MpropertyPlantEquipmentResult -35.10x |
| 2019 | 8.4%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$31.35MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$372.12MtotalAssetsInventory was not reported and is treated as zero.Result 8.4% | 0.00xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$31.35MpropertyPlantAndEquipmentNetResult 0.00x | 54.62xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$23.27McapitalExpendituresD&A$426.00KdepreciationAndAmortizationResult 54.62x | $5.64Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$372.12MtotalAssetsGoodwill$30.82MgoodWillIntangibles$226.00KintangibleAssetsLiabilities$64.82MtotalLiabTangible book$276.26MShares49,010,358commonStockSharesOutstandingResult $5.64 | -16.45xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$71.14MebitdaCapex$23.27McapitalExpendituresInterest$4.78MinterestExpenseShort-term debt$957.00KshortTermDebtEBITDA − capex-$94.41MPrincipal due is short-term debt.Result -16.45x | -$87.93MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$64.66MtotalCashFromOperatingActivitiesCapex$23.27McapitalExpendituresFree cash flow-$87.93MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$87.93M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$76.15MoperatingIncomeTax expense$5.96MincomeTaxExpensePretax income-$77.27MincomeBeforeTaxTax rate—Equity$307.30MtotalStockholderEquityDebt$47.45MshortLongTermDebtTotalCash$304.12McashAndShortTermInvestmentsInvested capital$50.63MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.43xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$76.15MoperatingIncomeNet PP&E$31.35MpropertyPlantAndEquipmentNetResult -2.43x |
| 2020 | 12.0%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$70.64MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$590.82MtotalAssetsInventory was not reported and is treated as zero.Result 12.0% | 0.00xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$70.64MpropertyPlantAndEquipmentNetResult 0.00x | 25.38xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$29.06McapitalExpendituresD&A$1.15MdepreciationAndAmortizationResult 25.38x | $8.54Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$590.82MtotalAssetsGoodwill$30.82MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$87.31MtotalLiabTangible book$472.70MShares55,380,740commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $8.54 | -12.93xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$131.59MebitdaCapex$29.06McapitalExpendituresInterest$7.55MinterestExpenseShort-term debt$4.88MshortLongTermDebtEBITDA − capex-$160.65MPrincipal due is the current portion of debt.Result -12.93x | -$103.70MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$74.64MtotalCashFromOperatingActivitiesCapex$29.06McapitalExpendituresFree cash flow-$103.70MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$103.70M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$136.00MoperatingIncomeTax expense$6.97MincomeTaxExpensePretax income-$139.70MincomeBeforeTaxTax rate—Equity$503.52MtotalStockholderEquityDebt$39.94MlongTermDebt + shortLongTermDebtCash$482.72McashAndShortTermInvestmentsInvested capital$60.74MReported 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 — | -1.93xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$136.00MoperatingIncomeNet PP&E$70.64MpropertyPlantAndEquipmentNetResult -1.93x |
| 2021 | 14.6%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$72.35MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$497.02MtotalAssetsInventory was not reported and is treated as zero.Result 14.6% | 0.00xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$72.35MpropertyPlantEquipmentResult 0.00x | 1.44xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$7.72McapitalExpendituresD&A$5.37MdepreciationAndAmortizationResult 1.44x | $6.70Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$497.02MtotalAssetsGoodwill$30.82MgoodWillIntangibles$0.00Not reported, treated as 0Liabilities$42.30MtotalLiabTangible book$423.91MShares63,235,417commonStockSharesOutstandingIntangibles were not reported and are treated as zero.Result $6.70 | -19.61xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$157.81MebitdaCapex$7.72McapitalExpendituresInterest$5.89MinterestExpenseShort-term debt$2.55MshortTermDebtEBITDA − capex-$165.52MPrincipal due is short-term debt.Result -19.61x | -$128.88MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$121.16MtotalCashFromOperatingActivitiesCapex$7.72McapitalExpendituresFree cash flow-$128.88MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$128.88M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$167.25MoperatingIncomeTax expense$516.00KincomeTaxExpensePretax income-$169.07MincomeBeforeTaxTax rate—Equity$454.72MtotalStockholderEquityDebt$22.60MshortLongTermDebtTotalCash$388.74McashAndShortTermInvestmentsInvested capital$88.59MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.31xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$167.25MoperatingIncomeNet PP&E$72.35MpropertyPlantEquipmentResult -2.31x |
| 2022 | 14.1%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$77.65MpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$551.81MtotalAssetsInventory was not reported and is treated as zero.Result 14.1% | 0.00xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$77.65MpropertyPlantEquipmentResult 0.00x | 1.38xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$8.62McapitalExpendituresD&A$6.27MdepreciationAndAmortizationResult 1.38x | $6.23Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$551.81MtotalAssetsGoodwill$39.15MgoodWillIntangibles$25.72MintangibleAssetsLiabilities$62.12MtotalLiabTangible book$424.81MShares68,148,925commonStockSharesOutstandingResult $6.23 | -50.32xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$213.69MebitdaCapex$8.62McapitalExpendituresInterest$1.91MinterestExpenseShort-term debt$2.51MshortTermDebtEBITDA − capex-$222.31MPrincipal due is short-term debt.Result -50.32x | -$186.76MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$178.14MtotalCashFromOperatingActivitiesCapex$8.62McapitalExpendituresFree cash flow-$186.76MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$186.76M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$224.34MoperatingIncomeTax expense-$2.48MincomeTaxExpensePretax income-$221.86MincomeBeforeTaxTax rate—Equity$489.69MtotalStockholderEquityDebt$22.87MshortLongTermDebtTotalCash$356.39McashAndShortTermInvestmentsInvested capital$156.16MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.89xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$224.34MoperatingIncomeNet PP&E$77.65MpropertyPlantEquipmentResult -2.89x |
| 2023 | 15.5%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$87.59MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$566.34MtotalAssetsInventory was not reported and is treated as zero.Result 15.5% | 0.00xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$87.59MpropertyPlantAndEquipmentNetResult 0.00x | 2.32xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$16.47McapitalExpendituresD&A$7.10MdepreciationAndAmortizationResult 2.32x | $5.10Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$566.34MtotalAssetsGoodwill$39.15MgoodWillIntangibles$25.15MintangibleAssetsLiabilities$73.77MtotalLiabTangible book$428.27MShares84,009,004commonStockSharesOutstandingResult $5.10 | -55.13xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$236.62MebitdaCapex$16.47McapitalExpendituresInterest$1.88MinterestExpenseShort-term debt$2.72MshortTermDebtEBITDA − capex-$253.09MPrincipal due is short-term debt.Result -55.13x | -$211.39MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$194.92MtotalCashFromOperatingActivitiesCapex$16.47McapitalExpendituresFree cash flow-$211.39MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$211.39M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$259.66MoperatingIncomeTax expense-$245.60MincomeTaxExpensePretax income-$245.60MincomeBeforeTaxTax rate—Equity$492.57MtotalStockholderEquityDebt$25.04MshortLongTermDebtTotalCash$373.18McashAndShortTermInvestmentsInvested capital$144.44MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.96xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$259.66MoperatingIncomeNet PP&E$87.59MpropertyPlantAndEquipmentNetResult -2.96x |
| 2024 | 15.8%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$83.32MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$527.70MtotalAssetsInventory was not reported and is treated as zero.Result 15.8% | 0.00xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$83.32MpropertyPlantAndEquipmentNetResult 0.00x | 0.63xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$5.86McapitalExpendituresD&A$9.38MdepreciationAndAmortizationResult 0.63x | $4.21Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$527.70MtotalAssetsGoodwill$39.15MgoodWillIntangibles$25.15MintangibleAssetsLiabilities$64.47MtotalLiabTangible book$398.93MShares94,807,773commonStockSharesOutstandingResult $4.21 | -53.41xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$247.49MebitdaCapex$5.86McapitalExpendituresInterest$1.89MinterestExpenseShort-term debt$2.86MshortTermDebtEBITDA − capex-$253.35MPrincipal due is short-term debt.Result -53.41x | -$215.59MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$209.72MtotalCashFromOperatingActivitiesCapex$5.86McapitalExpendituresFree cash flow-$215.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$215.59M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$273.21MoperatingIncomeTax expense-$1.00incomeTaxExpensePretax income-$258.75MincomeBeforeTaxTax rate—Equity$463.23MtotalStockholderEquityDebt$25.50MshortLongTermDebtTotalCash$372.34McashAndShortTermInvestmentsInvested capital$116.40MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.28xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$273.21MoperatingIncomeNet PP&E$83.32MpropertyPlantAndEquipmentNetResult -3.28x |
| 2025 | 21.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$71.59MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$330.45MtotalAssetsInventory was not reported and is treated as zero.Result 21.7% | 0.00xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$0.00totalRevenueNet PP&E$71.59MpropertyPlantAndEquipmentNetResult 0.00x | 0.04xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$440.00KcapitalExpendituresD&A$11.03MdepreciationAndAmortizationResult 0.04x | $1.92Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$330.45MtotalAssetsGoodwill$39.15MgoodWillIntangibles$25.15MintangibleAssetsLiabilities$53.23MtotalLiabTangible book$212.92MShares111,123,770commonStockSharesOutstandingResult $1.92 | -43.83xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$210.21MebitdaCapex$440.00KcapitalExpendituresInterest$1.89MinterestExpenseShort-term debt$2.92MshortTermDebtEBITDA − capex-$210.65MPrincipal due is short-term debt.Result -43.83x | -$190.45MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$190.01MtotalCashFromOperatingActivitiesCapex$440.00KcapitalExpendituresFree cash flow-$190.45MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$190.45M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$228.52MoperatingIncomeTax expense—Not reportedPretax income-$223.12MincomeBeforeTaxTax rate—Equity$277.22MtotalStockholderEquityDebt$24.88MshortLongTermDebtTotalCash$188.93McashAndShortTermInvestmentsInvested capital$113.17MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.19xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$228.52MoperatingIncomeNet PP&E$71.59MpropertyPlantAndEquipmentNetResult -3.19x |
- 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: $71.59M
Inventory: $0.00
Total assets: $330.45M
Goodwill: $39.15M
Intangibles: $25.15M
Liabilities: $53.23M
Tangible book: $212.92M
Shares: 111,123,770
Revenue: $0.00
Capex: $440.00K
D&A: $11.03M
EBITDA: -$210.21M
Interest: $1.89M
Short-term debt: $2.92M
Free cash flow: -$190.45M
Operating income: -$228.52M
Invested capital: $113.17M
Tax rate: —