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Net Tangible Assets per Share Calculator

Enter the balance-sheet figures to find net tangible assets per share.

How it is calculated

Four balance-sheet figures go in: total assets, intangible assets, total liabilities and the number of shares outstanding. The tool first finds net tangible assets with NTA = Total assets − Intangibles − Total liabilities, then divides by the share count: NTAPS = NTA / Shares. Both figures are shown as dollar amounts with two decimals. The three money fields should be in the same currency and the same scale (all in full units, or all in millions), while the share count must be in the same unit as the scale you choose. Shares must be above zero. Negative results are allowed and are displayed with a minus sign after the dollar symbol, such as -$4.00, which means liabilities exceed tangible assets.

Worked example

A company reports total assets of 850,000,000, intangibles of 120,000,000 (goodwill and patents) and total liabilities of 430,000,000, with 25,000,000 shares outstanding. Net tangible assets: 850,000,000 − 120,000,000 − 430,000,000 = 300,000,000, shown as $300,000,000.00. Divide by the shares: 300,000,000 / 25,000,000 = $12.00 per share. If the stock trades at, say, $9, it sits below this tangible book figure.

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Common mistakes

  • Mixing scales, for example assets in millions from the balance sheet but the share count as an exact number. The per-share result is then off by a factor of one million.
  • Leaving the intangibles field at 0 for a company with big goodwill, so the result simply equals plain book value per share.
  • Using the total equity line instead of total liabilities. Equity is already assets minus liabilities, so subtracting it again double-counts and produces a figure that is far too low.
  • Using the weighted-average or diluted share count from the income statement instead of the shares outstanding at the balance-sheet date.
  • Treating a negative output as an error. It is valid and means the tangible assets do not cover the liabilities.

About this calculator

Net tangible assets per share measures the tangible book value backing each share of a company, calculated as (total assets − intangible assets − total liabilities) ÷ shares outstanding. Subtracting intangibles — goodwill, patents, trademarks, and similar items — strips out assets that can be hard to value or liquidate, leaving only the physical and financial assets (cash, inventory, equipment, receivables) that would theoretically remain per share if the company were wound down.

Value investors and equity analysts use this figure as a conservative floor estimate of a stock's worth, particularly when comparing it to the current share price — a stock trading below its net tangible assets per share is sometimes considered a potential value opportunity, though it can also signal that the market expects continued losses. It's especially relevant for asset-heavy businesses like banks, real estate, and manufacturers, and less meaningful for asset-light companies like software firms, where most of the value legitimately lies in intangibles the metric deliberately excludes.

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Comments (1)

  • Editorial team

    The tool subtracts only intangibles and total liabilities, so claims such as preference shares or minority interests are not deducted; adjust the liabilities figure yourself if they matter. The default balance sheet gives 500,000 of net tangible assets and 5.00 per share. Software and brand-heavy companies often show low or negative values, which says little about their worth. Which kind of company are you looking at?

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