Tangible Book Value Per Share - TBVPS

See: Tangible Asset.

You can...tange it. Or touch it. It's not like a patent or a distribution agreement. First you have to calculate book value; that is...whatever value the bean-counting accountants have come up with that carries logic in the way they are valuing assets on their balance sheet. Some assets come with hooks or liabilities or debts in one form or another. You have to net out those costs to then come up with tangibility, or a book value that's easy to see, taste, touch, feel, and, of course...smell.

You then divide that number by the number of shares outstanding to get the tangible book value per share. Does it really mean anything to the stock price? Eh, not so much. Book value itself is kind of a relic from ancient times, but really doesn't have a ton to do with real world, modern-day stock prices.