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.
Aclarion Inc
Physical assets are 0.2% of total assets, a light footprint. Capex is 0.09x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets.
Fixed-asset turnover is 3.13x. Compare it with other names in the same basket.
Physical asset ratio
0.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$24.17KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$13.67MtotalAssetsInventory was not reported and is treated as zero.Result 0.2%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.13xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$75.73KtotalRevenueNet PP&E$24.17KpropertyPlantAndEquipmentNetResult 3.13x
Revenue per dollar of the physical asset base.
Capex / D&A
0.09xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$21.53KcapitalExpendituresD&A$227.41KdepreciationAndAmortizationResult 0.09x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$21.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$13.67MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.25MintangibleAssetsLiabilities$837.29KtotalLiabTangible book$11.58MShares532,036commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $21.77
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
0.08xPrice / tangible bookPrice / tangible book per sharePrice$1.66Latest quoteTangible book / share$21.772025-12-31Result 0.08x
Price $1.66.
Fixed-charge coverage
—Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$7.01MebitdaCapex$21.53KcapitalExpendituresInterest$0.00interestExpenseShort-term debt—Not reportedEBITDA − capex-$7.03MResult —
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-159.8%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$7.19MfreeCashFlowMarket cap$4.50MMarketCapitalizationResult -159.8%
Latest free cash flow divided by current market cap ($4.50M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$7.05MoperatingIncomeTax expense$0.00taxProvisionPretax income-$7.23MincomeBeforeTaxTax rate—Equity$12.84MtotalStockholderEquityDebt—Not reportedCash$12.02McashInvested 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 -291.79x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 3.4%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$48.51KpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$1.43MtotalAssetsInventory was not reported and is treated as zero.Result 3.4% | 0.55xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$26.90KtotalRevenueNet PP&E$48.51KpropertyPlantEquipmentResult 0.55x | 1.50xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$267.22KcapitalExpendituresD&A$178.21KdepreciationAndAmortizationResult 1.50x | -$57.31KTangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.43MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.16MintangibleAssetsLiabilities$3.13MtotalLiabTangible book-$2.87MShares50commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$57.31K | -7.88xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$3.84MebitdaCapex$267.22KcapitalExpendituresInterest$5.00KinterestExpenseShort-term debt$515.55KshortTermDebtEBITDA − capex-$4.10MPrincipal due is short-term debt.Result -7.88x | -$4.44MFree cash flow · 2019-12-31Reported free cash flowOperating cash flow-$4.17MtotalCashFromOperatingActivitiesCapex$267.22KcapitalExpendituresFree cash flow-$4.44MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$4.44M | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.01MoperatingIncomeTax expense$4.84KincomeTaxExpensePretax income-$4.02MincomeBeforeTaxTax rate—Equity-$1.70MtotalStockholderEquityDebt$515.55KshortLongTermDebtTotalCash$128.17KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -82.73xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income-$4.01MoperatingIncomeNet PP&E$48.51KpropertyPlantEquipmentResult -82.73x |
| 2020 | 2.0%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$25.62KpropertyPlantEquipmentInventory$0.00Not reported, treated as 0Total assets$1.29MtotalAssetsInventory was not reported and is treated as zero.Result 2.0% | 1.90xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$48.65KtotalRevenueNet PP&E$25.62KpropertyPlantEquipmentResult 1.90x | 0.91xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$179.03KcapitalExpendituresD&A$196.28KdepreciationAndAmortizationResult 0.91x | -$165.05KTangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.29MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.17MintangibleAssetsLiabilities$8.38MtotalLiabTangible book-$8.25MShares50commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$165.05K | -1.76xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.28MebitdaCapex$179.03KcapitalExpendituresInterest$156.06KinterestExpenseShort-term debt$2.38MshortTermDebtEBITDA − capex-$4.46MPrincipal due is short-term debt.Result -1.76x | -$1.97MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow-$1.79MtotalCashFromOperatingActivitiesCapex$179.03KcapitalExpendituresFree cash flow-$1.97MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$1.97M | —ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.48MoperatingIncomeTax expense$155.13KincomeTaxExpensePretax income-$4.64MincomeBeforeTaxTax rate—Equity-$7.08MtotalStockholderEquityDebt$2.38MshortLongTermDebtTotalCash$14.98KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -174.78xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income-$4.48MoperatingIncomeNet PP&E$25.62KpropertyPlantEquipmentResult -174.78x |
| 2021 | 0.7%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$12.64KpropertyPlantEquipmentInventory$1.00inventoryTotal assets$1.89MtotalAssetsResult 0.7% | 4.77xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$60.29KtotalRevenueNet PP&E$12.64KpropertyPlantEquipmentResult 4.77x | 0.00xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$1.00capitalExpendituresD&A$186.39KdepreciationAndAmortizationResult 0.00x | -$137.48KTangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$1.89MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.14MintangibleAssetsLiabilities$7.62MtotalLiabTangible book-$6.87MShares50commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$137.48K | -1.73xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.29MebitdaCapex$1.00capitalExpendituresInterest$476.48KinterestExpenseShort-term debt$2.00MshortTermDebtEBITDA − capex-$4.29MPrincipal due is short-term debt.Result -1.73x | -$2.35MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow-$2.35MtotalCashFromOperatingActivitiesCapex$1.00capitalExpendituresFree cash flow-$2.35MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$2.35M | —ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$2.95MoperatingIncomeTax expense-$1.42MincomeTaxExpensePretax income-$4.95MincomeBeforeTaxTax rate—Equity-$5.73MtotalStockholderEquityDebt$2.00MshortLongTermDebtTotalCash$432.53KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -233.70xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income-$2.95MoperatingIncomeNet PP&E$12.64KpropertyPlantEquipmentResult -233.70x |
| 2022 | 10.5%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$3.35KpropertyPlantEquipmentInventory$301.33KinventoryTotal assets$2.91MtotalAssetsResult 10.5% | 18.06xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$60.44KtotalRevenueNet PP&E$3.35KpropertyPlantEquipmentResult 18.06x | 1.45xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$208.87KcapitalExpendituresD&A$143.62KdepreciationAndAmortizationResult 1.45x | $24.18KTangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.91MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.21MintangibleAssetsLiabilities$688.67KtotalLiabTangible book$1.02MShares42commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $24.18K | -3.72xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$5.42MebitdaCapex$208.87KcapitalExpendituresInterest$1.51MinterestExpenseShort-term debt$4.64KshortTermDebtEBITDA − capex-$5.63MPrincipal due is short-term debt.Result -3.72x | -$5.52MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$5.31MtotalCashFromOperatingActivitiesCapex$208.87KcapitalExpendituresFree cash flow-$5.52MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$5.52M | —ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$5.56MoperatingIncomeTax expense$1.51MincomeTaxExpensePretax income-$7.07MincomeBeforeTaxTax rate—Equity$2.23MtotalStockholderEquityDebt$4.64KshortLongTermDebtTotalCash$1.47McashInvested capital$757.80KROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1,662.15xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income-$5.56MoperatingIncomeNet PP&E$3.35KpropertyPlantEquipmentResult -1,662.15x |
| 2023 | 0.1%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$1.78KpropertyPlantAndEquipmentNetInventory$1.00inventoryTotal assets$2.46MtotalAssetsResult 0.1% | 42.31xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$75.40KtotalRevenueNet PP&E$1.78KpropertyPlantAndEquipmentNetResult 42.31x | 0.73xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$119.52KcapitalExpendituresD&A$162.67KdepreciationAndAmortizationResult 0.73x | -$30.59KTangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.46MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.17MintangibleAssetsLiabilities$3.19MtotalLiabTangible book-$1.90MShares62commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$30.59K | -2.46xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$4.14MebitdaCapex$119.52KcapitalExpendituresInterest$608.29KinterestExpenseShort-term debt$1.13MshortTermDebtEBITDA − capex-$4.26MPrincipal due is short-term debt.Result -2.46x | -$3.77MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$3.65MtotalCashFromOperatingActivitiesCapex$119.52KcapitalExpendituresFree cash flow-$3.77MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$3.77M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$4.88MoperatingIncomeTax expense-$1.00incomeTaxExpensePretax income-$4.91MincomeBeforeTaxTax rate—Equity-$728.00KtotalStockholderEquityDebt$1.13MshortLongTermDebtTotalCash$1.02McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2,736.24xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$4.88MoperatingIncomeNet PP&E$1.78KpropertyPlantAndEquipmentNetResult -2,736.24x |
| 2024 | 0.3%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$5.50KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$2.12MtotalAssetsInventory was not reported and is treated as zero.Result 0.3% | 8.31xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$45.72KtotalRevenueNet PP&E$5.50KpropertyPlantAndEquipmentNetResult 8.31x | 1.67xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$321.94KcapitalExpendituresD&A$193.14KdepreciationAndAmortizationResult 1.67x | -$343.21Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$2.12MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.29MintangibleAssetsLiabilities$1.15MtotalLiabTangible book-$323.65KShares943commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result -$343.21 | -12.30xFixed-charge coverage · 2024-12-31(EBITDA − capex) / interestEBITDA-$6.26MebitdaCapex$321.94KcapitalExpendituresInterest$535.47KinterestExpenseEBITDA − capex-$6.59MShort-term debt was not reported, so the denominator is interest only.Result -12.30x | -$5.59MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$5.27MtotalCashFromOperatingActivitiesCapex$321.94KcapitalExpendituresFree cash flow-$5.59MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$5.59M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$5.51MoperatingIncomeTax expense$1.00incomeTaxExpensePretax income-$6.99MincomeBeforeTaxTax rate—Equity$970.06KtotalStockholderEquityDebt—Not reportedCash$453.66KcashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -1,002.55xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$5.51MoperatingIncomeNet PP&E$5.50KpropertyPlantAndEquipmentNetResult -1,002.55x |
| 2025 | 0.2%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$24.17KpropertyPlantAndEquipmentNetInventory$0.00Not reported, treated as 0Total assets$13.67MtotalAssetsInventory was not reported and is treated as zero.Result 0.2% | 3.13xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$75.73KtotalRevenueNet PP&E$24.17KpropertyPlantAndEquipmentNetResult 3.13x | 0.09xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$21.53KcapitalExpendituresD&A$227.41KdepreciationAndAmortizationResult 0.09x | $21.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$13.67MtotalAssetsGoodwill$0.00Not reported, treated as 0Intangibles$1.25MintangibleAssetsLiabilities$837.29KtotalLiabTangible book$11.58MShares532,036commonStockSharesOutstandingGoodwill was not reported and is treated as zero.Result $21.77 | —Fixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$7.01MebitdaCapex$21.53KcapitalExpendituresInterest$0.00interestExpenseShort-term debt—Not reportedEBITDA − capex-$7.03MResult — | -$7.19MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$7.16MtotalCashFromOperatingActivitiesCapex$21.53KcapitalExpendituresFree cash flow-$7.19MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$7.19M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$7.05MoperatingIncomeTax expense$0.00taxProvisionPretax income-$7.23MincomeBeforeTaxTax rate—Equity$12.84MtotalStockholderEquityDebt—Not reportedCash$12.02McashInvested capital—ROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -291.79xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$7.05MoperatingIncomeNet PP&E$24.17KpropertyPlantAndEquipmentNetResult -291.79x |
- 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.
Latest year inputs (2025)
Net PP&E: $24.17K
Inventory: $0.00
Total assets: $13.67M
Goodwill: $0.00
Intangibles: $1.25M
Liabilities: $837.29K
Tangible book: $11.58M
Shares: 532,036
Revenue: $75.73K
Capex: $21.53K
D&A: $227.41K
EBITDA: -$7.01M
Interest: $0.00
Short-term debt: —
Free cash flow: -$7.19M
Operating income: -$7.05M
Invested capital: —
Tax rate: —