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.
Versamet Royalties Corporation Common Stock
Physical assets are 93.7% of total assets, a heavy footprint. Capex is 0.00x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. ROIC is 1.1%, below an 8% cost-of-capital hurdle.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 0.09x.
Physical asset ratio
93.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$391.53MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$418.01MtotalAssetsInventory was not reported and is treated as zero.Result 93.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
0.09xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$34.76MtotalRevenueNet PP&E$391.53MpropertyPlantAndEquipmentNetResult 0.09x
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$6.18MdepreciationAndAmortizationResult 0.00x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$2.45Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$418.01MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$184.05MtotalLiabTangible book$233.96MShares95,506,104commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $2.45
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
3.38xPrice / tangible bookPrice / tangible book per sharePrice$8.28Latest quoteTangible book / share$2.452025-12-31Result 3.38x
Price $8.28.
Fixed-charge coverage
3.94xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$47.94MebitdaCapex$0.00capitalExpendituresInterest$12.16MinterestExpenseShort-term debt$0.00shortLongTermDebtTotal − longTermDebtEBITDA − capex$47.94MShort-term debt is total debt minus long-term debt.Result 3.94x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
1.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow$16.95MfreeCashFlowMarket cap$951.17MMarketCapitalizationResult 1.8%
Latest free cash flow divided by current market cap ($951.17M).
ROIC
1.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.84MoperatingIncomeTax expense$9.27MincomeTaxExpensePretax income$29.60MincomeBeforeTaxTax rate31.3%Equity$233.96MtotalStockholderEquityDebt$141.00MshortLongTermDebtTotalCash$3.71McashInvested capital$371.25MResult 1.1%
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.01x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2022 | 89.1%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$70.58MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$79.21MtotalAssetsInventory was not reported and is treated as zero.Result 89.1% | —Fixed asset turnover · 2022-12-31Revenue / net PP&ERevenue—Not reportedNet PP&E$70.58MpropertyPlantAndEquipmentNetResult — | —Capex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex—Not reportedD&A—Not reportedResult — | $0.69Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$79.21MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$15.47MtotalLiabTangible book$63.74MShares92,838,088commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $0.69 | —Fixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA—Not reportedCapex—Not reportedInterest—Not reportedShort-term debt$8.83MshortLongTermDebtPrincipal due is the current portion of debt.Result — | —Free cash flow · 2022-12-31Operating cash flow − capexOperating cash flow—Not reportedCapex—Not reportedFree cash flow—Not reportedResult — | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income—Not reportedTax expense—Not reportedPretax income—Not reportedTax rate—Equity$63.74MtotalStockholderEquityDebt$15.14MlongTermDebt + shortLongTermDebtCash$4.08McashInvested capital$74.80MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | —EBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income—Not reportedNet PP&E$70.58MpropertyPlantAndEquipmentNetResult — |
| 2023 | 90.8%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$143.25MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$157.74MtotalAssetsInventory was not reported and is treated as zero.Result 90.8% | 0.02xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$3.14MtotalRevenueNet PP&E$143.25MpropertyPlantAndEquipmentNetResult 0.02x | 0.00xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$900.54KreconciledDepreciationResult 0.00x | $1.23Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$157.74MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$43.97MtotalLiabTangible book$113.77MShares92,838,088commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $1.23 | 0.03xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$406.20KebitdaCapex$0.00capitalExpendituresInterest$2.01MinterestExpenseShort-term debt$12.57MshortLongTermDebtEBITDA − capex$406.20KPrincipal due is the current portion of debt.Result 0.03x | $621.27KFree cash flow · 2023-12-31Reported free cash flowOperating cash flow$621.27KtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow$621.27KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $621.27K | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.60MoperatingIncomeTax expense$619.22KtaxProvisionPretax income-$2.50MincomeBeforeTaxTax rate—Equity$113.77MtotalStockholderEquityDebt$39.66MlongTermDebt + shortLongTermDebtCash$6.72McashInvested capital$146.71MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.02xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$2.60MoperatingIncomeNet PP&E$143.25MpropertyPlantAndEquipmentNetResult -0.02x |
| 2024 | 95.6%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$220.06MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$230.25MtotalAssetsInventory was not reported and is treated as zero.Result 95.6% | 0.05xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$12.03MtotalRevenueNet PP&E$220.06MpropertyPlantAndEquipmentNetResult 0.05x | 0.00xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$843.00KreconciledDepreciationResult 0.00x | $2.28Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$230.25MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$18.92MtotalLiabTangible book$211.33MShares92,838,088commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $2.28 | 0.22xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$3.55MebitdaCapex$0.00capitalExpendituresInterest$3.58MinterestExpenseShort-term debt$12.33MshortLongTermDebtEBITDA − capex$3.55MPrincipal due is the current portion of debt.Result 0.22x | $7.40MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow$7.40MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow$7.40MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $7.40M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.33MoperatingIncomeTax expense$1.57MtaxProvisionPretax income-$874.00KincomeBeforeTaxTax rate—Equity$211.33MtotalStockholderEquityDebt$12.94MlongTermDebt + shortLongTermDebtCash$1.43McashInvested capital$222.84MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -0.02xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$4.33MoperatingIncomeNet PP&E$220.06MpropertyPlantAndEquipmentNetResult -0.02x |
| 2025 | 93.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$391.53MpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$418.01MtotalAssetsInventory was not reported and is treated as zero.Result 93.7% | 0.09xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$34.76MtotalRevenueNet PP&E$391.53MpropertyPlantAndEquipmentNetResult 0.09x | 0.00xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$0.00capitalExpendituresD&A$6.18MdepreciationAndAmortizationResult 0.00x | $2.45Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$418.01MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$0.00Not reported, treated as 0Liabilities$184.05MtotalLiabTangible book$233.96MShares95,506,104commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Intangibles were not reported and are treated as zero.Result $2.45 | 3.94xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$47.94MebitdaCapex$0.00capitalExpendituresInterest$12.16MinterestExpenseShort-term debt$0.00shortLongTermDebtTotal − longTermDebtEBITDA − capex$47.94MShort-term debt is total debt minus long-term debt.Result 3.94x | $16.95MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow$16.95MtotalCashFromOperatingActivitiesCapex$0.00capitalExpendituresFree cash flow$16.95MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $16.95M | 1.1%ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$5.84MoperatingIncomeTax expense$9.27MincomeTaxExpensePretax income$29.60MincomeBeforeTaxTax rate31.3%Equity$233.96MtotalStockholderEquityDebt$141.00MshortLongTermDebtTotalCash$3.71McashInvested capital$371.25MResult 1.1% | 0.01xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income$5.84MoperatingIncomeNet PP&E$391.53MpropertyPlantAndEquipmentNetResult 0.01x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is total debt minus long-term debt.
Latest year inputs (2025)
Net PP&E: $391.53M
Inventory: $0.00
Total assets: $418.01M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $184.05M
Tangible book: $233.96M
Shares: 95,506,104
Revenue: $34.76M
Capex: $0.00
D&A: $6.18M
EBITDA: $47.94M
Interest: $12.16M
Short-term debt: $0.00
Free cash flow: $16.95M
Operating income: $5.84M
Invested capital: $371.25M
Tax rate: 31.3%