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.
Arlo Technologies
Physical assets are 20.5% of total assets, a light footprint. Capex is 3.01x depreciation and free cash flow yield is still positive, which fits a physical base that is being replaced or expanded without consuming all of its cash.
Energy, materials, and industrial names often turn net PP&E at about 1x to 3x. This name is at 23.68x.
Physical asset ratio
20.5%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
23.68x
Revenue per dollar of the physical asset base.
Capex / D&A
3.01x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$1.06
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
11.46x
Price $12.16.
Fixed-charge coverage
—
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
5.1%
Latest free cash flow divided by current market cap ($1.31B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is 0.27x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 29.2% | 9.55x | 4.08x | $3.84 | -39.14x | -$39.35M | — | -1.37x |
| 2019 | 22.3% | 7.03x | 0.62x | $2.54 | -1.18x | $2.51M | — | -2.62x |
| 2020 | 25.2% | 8.97x | 0.38x | $1.57 | -11.29x | -$50.42M | — | -2.63x |
| 2021 | 18.1% | 17.83x | 0.38x | $1.23 | -2.23x | -$25.47M | — | -2.46x |
| 2022 | 24.5% | 24.34x | 0.42x | $0.88 | -10.34x | -$47.97M | — | -2.82x |
| 2023 | 19.1% | 30.30x | 0.61x | $0.99 | — | $35.46M | — | -1.54x |
| 2024 | 20.5% | 24.97x | 0.84x | $0.91 | — | $48.62M | — | -1.71x |
| 2025 | 20.5% | 23.68x | 3.01x | $1.06 | — | $66.90M | — | 0.27x |
- 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: $22.35M
Inventory: $41.19M
Total assets: $310.55M
Goodwill: $11.04M
Intangibles: $0.00
Liabilities: $182.71M
Tangible book: $116.80M
Shares: 110,156,000
Revenue: $529.30M
Capex: $11.83M
D&A: $3.93M
EBITDA: $19.60M
Interest: —
Short-term debt: —
Free cash flow: $66.90M
Operating income: $6.07M
Invested capital: —
Tax rate: 4.7%