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.
Asana Inc
Physical assets are 26.3% of total assets, a light footprint. Capex is 0.17x depreciation while free cash flow yield is positive, which can mean an aging base that is still throwing off cash. EBITDA after capex covers debt service by -3.70x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 3.57x.
Physical asset ratio
26.3%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
3.57x
Revenue per dollar of the physical asset base.
Capex / D&A
0.17x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
$0.65
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
15.99x
Price $10.41.
Fixed-charge coverage
-3.70x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
3.6%
Latest free cash flow divided by current market cap ($2.39B).
ROIC
—
After-tax operating income over equity plus debt minus cash.
Operating income / net PP&E is -0.89x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2019 | 10.9% | 18.73x | 0.81x | -$1.21 | -21.86x | -$33.59M | — | -12.69x |
| 2020 | 10.5% | 4.61x | 3.25x | -$0.92 | -10.55x | -$47.40M | — | -3.87x |
| 2021 | 35.2% | 0.88x | 2.93x | -$0.08 | -4.77x | -$151.18M | — | -0.68x |
| 2022 | 38.7% | 1.38x | 5.05x | $1.16 | -9.72x | -$126.50M | — | -0.97x |
| 2023 | 28.4% | 2.02x | 0.56x | $1.78 | -23.49x | -$167.22M | — | -1.50x |
| 2024 | 28.9% | 2.34x | 0.92x | $1.48 | -10.73x | -$31.09M | — | -0.97x |
| 2025 | 29.4% | 2.76x | 0.32x | $0.99 | -7.57x | $9.36M | — | -1.02x |
| 2026 | 26.3% | 3.57x | 0.17x | $0.65 | -3.70x | $86.57M | — | -0.89x |
- Inventory was missing and treated as zero in the physical asset ratio.
- Principal due is the current portion of debt.
Latest year inputs (2026)
Net PP&E: $221.74M
Inventory: $0.00
Total assets: $844.09M
Goodwill: $0.00
Intangibles: $0.00
Liabilities: $689.97M
Tangible book: $154.12M
Shares: 236,823,000
Revenue: $790.81M
Capex: $3.79M
D&A: $22.04M
EBITDA: -$158.98M
Interest: $3.15M
Short-term debt: $40.82M
Free cash flow: $86.57M
Operating income: -$197.33M
Invested capital: —
Tax rate: —