Tangible Book Value

SeekingAlpha  6 hrs ago  Comment 
By New Capital: Majority of the profitable financial institutions in US tend to trade at least at tangible book value nowadays. It was not the case right after financial crisis, when many banks could be purchased at significant discounts to book...
OilVoice  Apr 3  Comment 
McDermott International Inc. NYSEMDR announced that the underwriter of the recently announced public offering of 6.25 tangible equity units the 39Units39 each with a stated value of 25.
DailyFinance  Mar 12  Comment 
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) announced today that it has agreed to the terms of an unsolicited request to exchange approximately 19%, or 890,000, of its outstanding 7.50% tangible equity units...
SeekingAlpha  Jan 20  Comment 
By Unconventional Capital Wisdom: Executive Summary Company's claims of superior technology is found in patented methodology creating a moat The drug testing business has attractive business properties, low capital...
SeekingAlpha  Jan 8  Comment 
By Chuck Walston: On December 27th, SA published my article entitled, Target: How To Profit From Their Current Calamity. In that article, I provided a case study of price movement in the stock of companies previously impacted by security breaches,...
SeekingAlpha  Jan 4  Comment 
By Dennis Beaudet: Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks. The metals drilling...
SeekingAlpha  Dec 6  Comment 
By The Value Investor: Investors in U.S. Bancorp (USB) were pleasantly surprised that analysts at Goldman Sachs placed the bank on its Conviction Buy list. While U.S. Bancorp is a great bank, steadily growing its operations combined with...
Benzinga  Dec 6  Comment 
In a report published Thursday, Oppenheimer analyst Terry McEvoy initiated a Buy rating on EverBank Financial (NASDAQ: EVER) and initiated a price target of $21.00. In the report, Oppenheimer says "EverBank's steady EPS, tangible book value and...
DailyFinance  Nov 27  Comment 
Forestar Group Inc. (NYSE: FOR) (the “Company”) today announced the closing of its previously announced underwritten public offering of 6,000,000 6.00% Tangible Equity Units (the “Offering”), resulting in net proceeds...
TheStreet.com  Nov 25  Comment 
NEW YORK (TheStreet) -- This chart shows just how low the stocks of the largest U.S. banks are trading, relative to book value, despite the amazing run for the financial sector over the past two years: Price to Book Value data by YChartsHere's a...


Tangible Book Value equals book value minus intangible assets and goodwill

Tangible Book Value (alternately "Net Tangible Assets" or "Net Tangible Equity") is the total net asset value of a company (book value) minus intangible assets and goodwill.

A company's standard book value may be significantly affected by intangible assets and/or goodwill. As the values of these assets are more subjective than "hard" assets (such as cash or property, plant and equipment), including them in the calculation of book value may misrepresent the underlying worth of the company. Thus, In general, tangible book value can be thought of as the worth of all of the company's physical "stuff" and is therefore a close approximation to what the company might expect to see returned in a liquidation.


  • On its balance sheet, company XYZ lists assets of $450 million, of which $125 million is attributed to intangible assets and $25 million to goodwill. XYZ also lists total liabilities of $200 million. The book value, therefore, is $250 million (450 – 200) while the tangible book value is $100 million (450 – 125 – 25 – 200).

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