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.
Cambium Networks Corp
Physical assets are 26.7% of total assets, a light footprint. Capex is 0.30x depreciation and free cash flow yield is weak, which fits a cash drain on aging assets. EBITDA after capex covers debt service by -0.36x, which is below 1.
Technology and communication names are often asset-light, with fixed-asset turnover above 5x. This name is at 17.55x.
Physical asset ratio
26.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$9.10MpropertyPlantAndEquipmentNetInventory$27.52MinventoryTotal assets$137.14MtotalAssetsResult 26.7%
Net PP&E plus inventory, divided by total assets. Above 50% is a heavy footprint.
Fixed asset turnover
17.55xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$159.65MtotalRevenueNet PP&E$9.10MpropertyPlantAndEquipmentNetResult 17.55x
Revenue per dollar of the physical asset base.
Capex / D&A
0.30xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$440.00KcapitalExpendituresD&A$1.47MdepreciationAndAmortizationResult 0.30x
Above 1.0x means the physical base is being replaced or expanded.
Tangible book / share
-$1.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$137.14MtotalAssetsGoodwill$874.00KgoodWillIntangibles$11.99MintangibleAssetsLiabilities$173.09MtotalLiabTangible book-$48.81MShares27,519,476commonStockSharesOutstandingResult -$1.77
Assets minus goodwill, intangibles, and liabilities, per share.
Price / tangible book
—Price / tangible bookPrice / tangible book per sharePrice—Latest quoteTangible book / share-$1.772025-12-31A live quote was not available, so price / tangible book could not be calculated.Tangible book per share is not positive, so the multiple is left blank.Result —
Quote unavailable.
Fixed-charge coverage
-0.36xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$26.50MebitdaCapex$440.00KcapitalExpendituresInterest$9.02MinterestExpenseShort-term debt$66.38MshortTermDebtEBITDA − capex-$26.94MPrincipal due is short-term debt.Result -0.36x
EBITDA minus capex, divided by interest plus short-term debt.
FCF yield
-142.6%Free cash flow yield · 2025-12-31Latest free cash flow / current market capFree cash flow-$16.15MfreeCashFlowMarket cap$11.33MMarketCapitalizationResult -142.6%
Latest free cash flow divided by current market cap ($11.33M).
ROIC
—ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$27.96MoperatingIncomeTax expense$1.55MincomeTaxExpensePretax income-$36.99MincomeBeforeTaxTax rate—Equity-$35.95MtotalStockholderEquityDebt$75.17MshortLongTermDebtTotalCash$11.06McashInvested capital$28.16MROIC 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 -3.07x.
Footprint and return
Turnover and reinvestment
| Year | Physical | FAT | Capex/D&A | TBV/sh | Coverage | FCF | ROIC | EBIT/PP&E |
|---|---|---|---|---|---|---|---|---|
| 2018 | 27.2%Physical asset ratio · 2018-12-31(Net PP&E + inventory) / total assetsNet PP&E$7.97MpropertyPlantEquipmentInventory$30.71MinventoryTotal assets$142.06MtotalAssetsResult 27.2% | 30.35xFixed asset turnover · 2018-12-31Revenue / net PP&ERevenue$241.76MtotalRevenueNet PP&E$7.97MpropertyPlantEquipmentResult 30.35x | 0.83xCapex / D&A · 2018-12-31Capital expenditures / depreciation and amortizationCapex$7.50McapitalExpendituresD&A$9.02MdepreciationAndAmortizationResult 0.83x | -$2.07Tangible book / share · 2018-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$142.06MtotalAssetsGoodwill$8.06MgoodWillIntangibles$12.44MintangibleAssetsLiabilities$162.63MtotalLiabTangible book-$41.07MShares19,807,770commonStockSharesOutstandingResult -$2.07 | 0.43xFixed-charge coverage · 2018-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$14.82MebitdaCapex$7.50McapitalExpendituresInterest$8.11MinterestExpenseShort-term debt$8.84MshortTermDebtEBITDA − capex$7.32MPrincipal due is short-term debt.Result 0.43x | -$17.90MFree cash flow · 2018-12-31Reported free cash flowOperating cash flow-$10.40MtotalCashFromOperatingActivitiesCapex$7.50McapitalExpendituresFree cash flow-$17.90MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$17.90M | —ROIC · 2018-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$6.35MoperatingIncomeTax expense-$799.00KincomeTaxExpensePretax income-$2.31MincomeBeforeTaxTax rate—Equity-$20.57MtotalStockholderEquityDebt$103.02MshortLongTermDebtTotalCash$4.44McashInvested capital$78.01MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.80xEBIT / PP&E · 2018-12-31Operating income / net PP&EOperating income$6.35MoperatingIncomeNet PP&E$7.97MpropertyPlantEquipmentResult 0.80x |
| 2019 | 33.0%Physical asset ratio · 2019-12-31(Net PP&E + inventory) / total assetsNet PP&E$15.19MpropertyPlantEquipmentInventory$41.67MinventoryTotal assets$172.48MtotalAssetsResult 33.0% | 17.58xFixed asset turnover · 2019-12-31Revenue / net PP&ERevenue$267.03MtotalRevenueNet PP&E$15.19MpropertyPlantEquipmentResult 17.58x | 0.62xCapex / D&A · 2019-12-31Capital expenditures / depreciation and amortizationCapex$3.95McapitalExpendituresD&A$6.37MdepreciationAndAmortizationResult 0.62x | $0.51Tangible book / share · 2019-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$172.48MtotalAssetsGoodwill$8.55MgoodWillIntangibles$18.50MintangibleAssetsLiabilities$132.21MtotalLiabTangible book$13.22MShares25,672,983commonStockSharesOutstandingResult $0.51 | 0.18xFixed-charge coverage · 2019-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$7.12MebitdaCapex$3.95McapitalExpendituresInterest$8.08MinterestExpenseShort-term debt$9.45MshortTermDebtEBITDA − capex$3.18MPrincipal due is short-term debt.Result 0.18x | -$393.00KFree cash flow · 2019-12-31Reported free cash flowOperating cash flow$3.55MtotalCashFromOperatingActivitiesCapex$3.95McapitalExpendituresFree cash flow-$393.00KfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$393.00K | —ROIC · 2019-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$755.00KoperatingIncomeTax expense$10.28MincomeTaxExpensePretax income-$7.32MincomeBeforeTaxTax rate—Equity$39.93MtotalStockholderEquityDebt$68.95MshortLongTermDebtTotalCash$19.35McashInvested capital$89.53MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | 0.05xEBIT / PP&E · 2019-12-31Operating income / net PP&EOperating income$755.00KoperatingIncomeNet PP&E$15.19MpropertyPlantEquipmentResult 0.05x |
| 2020 | 22.6%Physical asset ratio · 2020-12-31(Net PP&E + inventory) / total assetsNet PP&E$12.62MpropertyPlantAndEquipmentNetInventory$33.96MinventoryTotal assets$205.75MtotalAssetsResult 22.6% | 22.07xFixed asset turnover · 2020-12-31Revenue / net PP&ERevenue$278.46MtotalRevenueNet PP&E$12.62MpropertyPlantAndEquipmentNetResult 22.07x | 0.70xCapex / D&A · 2020-12-31Capital expenditures / depreciation and amortizationCapex$5.07McapitalExpendituresD&A$7.27MdepreciationAndAmortizationResult 0.70x | $1.41Tangible book / share · 2020-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$205.75MtotalAssetsGoodwill$9.84MgoodWillIntangibles$16.33MintangibleAssetsLiabilities$142.37MtotalLiabTangible book$37.21MShares26,403,112commonStockSharesOutstandingResult $1.41 | 0.74xFixed-charge coverage · 2020-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$30.73MebitdaCapex$5.07McapitalExpendituresInterest$5.33MinterestExpenseShort-term debt$29.20MshortTermDebtEBITDA − capex$25.66MPrincipal due is short-term debt.Result 0.74x | $51.84MFree cash flow · 2020-12-31Reported free cash flowOperating cash flow$56.90MtotalCashFromOperatingActivitiesCapex$5.07McapitalExpendituresFree cash flow$51.84MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $51.84M | 41.0%ROIC · 2020-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$23.95MoperatingIncomeTax expense-$444.00KincomeTaxExpensePretax income$18.13MincomeBeforeTaxTax rate0.0%Equity$63.39MtotalStockholderEquityDebt$57.49MshortLongTermDebtTotalCash$62.47McashInvested capital$58.41MResult 41.0% | 1.90xEBIT / PP&E · 2020-12-31Operating income / net PP&EOperating income$23.95MoperatingIncomeNet PP&E$12.62MpropertyPlantAndEquipmentNetResult 1.90x |
| 2021 | 21.6%Physical asset ratio · 2021-12-31(Net PP&E + inventory) / total assetsNet PP&E$16.39MpropertyPlantEquipmentInventory$33.78MinventoryTotal assets$232.27MtotalAssetsResult 21.6% | 20.49xFixed asset turnover · 2021-12-31Revenue / net PP&ERevenue$335.85MtotalRevenueNet PP&E$16.39MpropertyPlantEquipmentResult 20.49x | 1.46xCapex / D&A · 2021-12-31Capital expenditures / depreciation and amortizationCapex$10.17McapitalExpendituresD&A$6.98MdepreciationAndAmortizationResult 1.46x | $2.99Tangible book / share · 2021-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$232.27MtotalAssetsGoodwill$9.84MgoodWillIntangibles$16.64MintangibleAssetsLiabilities$120.13MtotalLiabTangible book$85.65MShares28,628,136commonStockSharesOutstandingResult $2.99 | 4.84xFixed-charge coverage · 2021-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$42.85MebitdaCapex$10.17McapitalExpendituresInterest$4.27MinterestExpenseShort-term debt$2.49MshortTermDebtEBITDA − capex$32.69MPrincipal due is short-term debt.Result 4.84x | $19.79MFree cash flow · 2021-12-31Reported free cash flowOperating cash flow$29.96MtotalCashFromOperatingActivitiesCapex$10.17McapitalExpendituresFree cash flow$19.79MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result $19.79M | 42.1%ROIC · 2021-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$36.42MoperatingIncomeTax expense-$5.52MincomeTaxExpensePretax income$31.91MincomeBeforeTaxTax rate0.0%Equity$112.14MtotalStockholderEquityDebt$33.57MshortLongTermDebtTotalCash$59.29McashInvested capital$86.41MResult 42.1% | 2.22xEBIT / PP&E · 2021-12-31Operating income / net PP&EOperating income$36.42MoperatingIncomeNet PP&E$16.39MpropertyPlantEquipmentResult 2.22x |
| 2022 | 26.8%Physical asset ratio · 2022-12-31(Net PP&E + inventory) / total assetsNet PP&E$15.28MpropertyPlantEquipmentInventory$57.07MinventoryTotal assets$269.46MtotalAssetsResult 26.8% | 19.43xFixed asset turnover · 2022-12-31Revenue / net PP&ERevenue$296.90MtotalRevenueNet PP&E$15.28MpropertyPlantEquipmentResult 19.43x | 1.22xCapex / D&A · 2022-12-31Capital expenditures / depreciation and amortizationCapex$9.25McapitalExpendituresD&A$7.60MdepreciationAndAmortizationResult 1.22x | $4.21Tangible book / share · 2022-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$269.46MtotalAssetsGoodwill$9.84MgoodWillIntangibles$17.61MintangibleAssetsLiabilities$124.09MtotalLiabTangible book$117.92MShares28,025,278commonStockSharesOutstandingResult $4.21 | 3.57xFixed-charge coverage · 2022-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA$27.59MebitdaCapex$9.25McapitalExpendituresInterest$1.98MinterestExpenseShort-term debt$3.16MshortTermDebtEBITDA − capex$18.35MPrincipal due is short-term debt.Result 3.57x | -$12.30MFree cash flow · 2022-12-31Reported free cash flowOperating cash flow-$3.05MtotalCashFromOperatingActivitiesCapex$9.25McapitalExpendituresFree cash flow-$12.30MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$12.30M | 15.7%ROIC · 2022-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income$19.88MoperatingIncomeTax expense-$2.18MincomeTaxExpensePretax income$18.02MincomeBeforeTaxTax rate0.0%Equity$145.37MtotalStockholderEquityDebt$29.79MshortLongTermDebtTotalCash$48.16McashInvested capital$127.00MResult 15.7% | 1.30xEBIT / PP&E · 2022-12-31Operating income / net PP&EOperating income$19.88MoperatingIncomeNet PP&E$15.28MpropertyPlantEquipmentResult 1.30x |
| 2023 | 40.2%Physical asset ratio · 2023-12-31(Net PP&E + inventory) / total assetsNet PP&E$20.77MpropertyPlantAndEquipmentNetInventory$66.88MinventoryTotal assets$217.88MtotalAssetsResult 40.2% | 10.60xFixed asset turnover · 2023-12-31Revenue / net PP&ERevenue$220.20MtotalRevenueNet PP&E$20.77MpropertyPlantAndEquipmentNetResult 10.60x | 0.51xCapex / D&A · 2023-12-31Capital expenditures / depreciation and amortizationCapex$4.59McapitalExpendituresD&A$9.03MdepreciationAndAmortizationResult 0.51x | $1.87Tangible book / share · 2023-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$217.88MtotalAssetsGoodwill$9.84MgoodWillIntangibles$19.66MintangibleAssetsLiabilities$136.94MtotalLiabTangible book$51.43MShares27,519,476commonStockSharesOutstandingResult $1.87 | -9.93xFixed-charge coverage · 2023-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$52.10MebitdaCapex$4.59McapitalExpendituresInterest$2.52MinterestExpenseShort-term debt$3.19MshortTermDebtEBITDA − capex-$56.69MPrincipal due is short-term debt.Result -9.93x | -$21.54MFree cash flow · 2023-12-31Reported free cash flowOperating cash flow-$16.95MtotalCashFromOperatingActivitiesCapex$4.59McapitalExpendituresFree cash flow-$21.54MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$21.54M | —ROIC · 2023-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$60.85MoperatingIncomeTax expense$13.77MincomeTaxExpensePretax income-$63.65MincomeBeforeTaxTax rate—Equity$80.93MtotalStockholderEquityDebt$31.71MshortLongTermDebtTotalCash$18.71McashInvested capital$93.93MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -2.93xEBIT / PP&E · 2023-12-31Operating income / net PP&EOperating income-$60.85MoperatingIncomeNet PP&E$20.77MpropertyPlantAndEquipmentNetResult -2.93x |
| 2024 | 30.3%Physical asset ratio · 2024-12-31(Net PP&E + inventory) / total assetsNet PP&E$10.68MpropertyPlantAndEquipmentNetInventory$41.99MinventoryTotal assets$173.73MtotalAssetsResult 30.3% | 16.60xFixed asset turnover · 2024-12-31Revenue / net PP&ERevenue$177.29MtotalRevenueNet PP&E$10.68MpropertyPlantAndEquipmentNetResult 16.60x | 1.23xCapex / D&A · 2024-12-31Capital expenditures / depreciation and amortizationCapex$11.90McapitalExpendituresD&A$9.66MreconciledDepreciationResult 1.23x | -$0.56Tangible book / share · 2024-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$173.73MtotalAssetsGoodwill$874.00KgoodWillIntangibles$11.99MintangibleAssetsLiabilities$176.97MtotalLiabTangible book-$16.10MShares28,612,181commonStockSharesOutstandingResult -$0.56 | -0.64xFixed-charge coverage · 2024-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$35.22MOperating income + D&ACapex$11.90McapitalExpendituresInterest$5.84MinterestExpenseShort-term debt$67.64MshortLongTermDebtEBITDA − capex-$47.11MEBITDA is operating income plus D&A because the income statement did not report EBITDA.Principal due is the current portion of debt.Result -0.64x | -$26.87MFree cash flow · 2024-12-31Reported free cash flowOperating cash flow-$14.98MtotalCashFromOperatingActivitiesCapex$11.90McapitalExpendituresFree cash flow-$26.87MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$26.87M | —ROIC · 2024-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$44.88MoperatingIncomeTax expense-$1.85MtaxProvisionPretax income-$76.31MincomeBeforeTaxTax rate—Equity-$3.24MtotalStockholderEquityDebt$67.64MshortLongTermDebtCash$34.93McashInvested capital$29.48MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -4.20xEBIT / PP&E · 2024-12-31Operating income / net PP&EOperating income-$44.88MoperatingIncomeNet PP&E$10.68MpropertyPlantAndEquipmentNetResult -4.20x |
| 2025 | 26.7%Physical asset ratio · 2025-12-31(Net PP&E + inventory) / total assetsNet PP&E$9.10MpropertyPlantAndEquipmentNetInventory$27.52MinventoryTotal assets$137.14MtotalAssetsResult 26.7% | 17.55xFixed asset turnover · 2025-12-31Revenue / net PP&ERevenue$159.65MtotalRevenueNet PP&E$9.10MpropertyPlantAndEquipmentNetResult 17.55x | 0.30xCapex / D&A · 2025-12-31Capital expenditures / depreciation and amortizationCapex$440.00KcapitalExpendituresD&A$1.47MdepreciationAndAmortizationResult 0.30x | -$1.77Tangible book / share · 2025-12-31(Total assets − goodwill − intangibles − liabilities) / sharesTotal assets$137.14MtotalAssetsGoodwill$874.00KgoodWillIntangibles$11.99MintangibleAssetsLiabilities$173.09MtotalLiabTangible book-$48.81MShares27,519,476commonStockSharesOutstandingResult -$1.77 | -0.36xFixed-charge coverage · 2025-12-31(EBITDA − capex) / (interest + short-term debt)EBITDA-$26.50MebitdaCapex$440.00KcapitalExpendituresInterest$9.02MinterestExpenseShort-term debt$66.38MshortTermDebtEBITDA − capex-$26.94MPrincipal due is short-term debt.Result -0.36x | -$16.15MFree cash flow · 2025-12-31Reported free cash flowOperating cash flow-$15.71MtotalCashFromOperatingActivitiesCapex$440.00KcapitalExpendituresFree cash flow-$16.15MfreeCashFlowFree cash flow is the amount reported on the cash-flow statement.Result -$16.15M | —ROIC · 2025-12-31Operating income × (1 − tax rate) / (equity + debt − cash)Operating income-$27.96MoperatingIncomeTax expense$1.55MincomeTaxExpensePretax income-$36.99MincomeBeforeTaxTax rate—Equity-$35.95MtotalStockholderEquityDebt$75.17MshortLongTermDebtTotalCash$11.06McashInvested capital$28.16MROIC needs a positive pretax income so an effective tax rate can be calculated.Result — | -3.07xEBIT / PP&E · 2025-12-31Operating income / net PP&EOperating income-$27.96MoperatingIncomeNet PP&E$9.10MpropertyPlantAndEquipmentNetResult -3.07x |
- 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.
- Principal due is short-term debt, the amount reported as due within a year.
Latest year inputs (2025)
Net PP&E: $9.10M
Inventory: $27.52M
Total assets: $137.14M
Goodwill: $874.00K
Intangibles: $11.99M
Liabilities: $173.09M
Tangible book: -$48.81M
Shares: 27,519,476
Revenue: $159.65M
Capex: $440.00K
D&A: $1.47M
EBITDA: -$26.50M
Interest: $9.02M
Short-term debt: $66.38M
Free cash flow: -$16.15M
Operating income: -$27.96M
Invested capital: $28.16M
Tax rate: —