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Gouverneur Bancorp Inc (OTCPK:GOVB)
Tangible Book Value Per Share
$9.05 (As of Jun. 2008)

Tangible book value per share is calculated as the total tangible equity divided by Shares Outstanding. Total tangible equity is calculated as the total equity minus preferred stock minus intangibles. Gouverneur Bancorp Inc's tangible book value per share for the quarter that ended in Jun. 2008 was $9.05.

Since intangibles such as goodwill cannot be sold when the company liquidates, tangible book value per share is considered more accurate in reflecting how much shareholders will receive when the company liquidates.


Definition

Gouverneur Bancorp Inc's Tangible Book Value Per Share for the fiscal year that ended in Sep. 2007 is calculated as

Tangible Book Value per Share=Total Tangible Equity/Shares Outstanding
=(Total Equity-Preferred Stock-Intangibles)/Shares Outstanding
=(20.43-0-0)/2.298
=8.89

Gouverneur Bancorp Inc's Tangible Book Value Per Share for the quarter that ended in Jun. 2008 is calculated as

Tangible Book Value per Share=Total Tangible Equity/Shares Outstanding
=(Total Equity-Preferred Stock-Intangibles)/Shares Outstanding
=(20.821-0-0)/2.301
=9.05

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Theoretically it is what the shareholders will receive if the company is liquidated. Total equity is a balance sheet item and equal to total assets less total liabilities of the company. Since intangibles such as goodwill cannot be sold when the company liquidates, tangible book value per share is considered more accurate in reflecting how much shareholders will receive when the company liquidates.


Explanation

Usually a company’s book value and Tangible Book Value per Share may not reflect its true value. The assets may be carried on the balance sheets at the original cost minus depreciation. This may underestimate the true economic values of the assets. It also may over-estimate their true economic value because the assets can become obsolete.

For financial companies such as banks and insurance companies, their assets may be reported in current market value of the assets owned. Book values of financial companies are more accurate indicator of the economic value of the company.


Related Terms

Total Equity, Preferred Stock, Intangibles, Total Shares Outstanding


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Gouverneur Bancorp Inc Annual Data

Sep98Sep99Sep00Sep01Sep02Sep03Sep04Sep05Sep06Sep07
Tangibles_book_per_share 0.004.007.067.617.787.717.938.338.708.89

Gouverneur Bancorp Inc Quarterly Data

Mar06Jun06Sep06Dec06Mar07Jun07Sep07Dec07Mar08Jun08
Tangibles_book_per_share 8.468.378.678.408.839.148.928.608.749.05
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