Switch to:
GuruFocus has detected 8 Warning Signs with Meredith Corp \$MDP.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
Meredith Corp (NYSE:MDP)
Tangible Book per Share
\$-19.24 (As of Dec. 2016)

Tangible book value per share is calculated as the total tangible equity divided by Shares Outstanding (EOP). Total tangible equity is calculated as the total equity minus preferred stock minus intangibles. Meredith Corp's tangible book value per share for the quarter that ended in Dec. 2016 was \$-19.24.

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

Meredith Corp's Tangible Book Value Per Share for the fiscal year that ended in Jun. 2016 is calculated as

 Tangible Book Value per Share = (Total Equity - Preferred Stock - Intangibles) / Shares Outstanding (EOP) = (889.043 - 0 - 1801.571) / 44.56 = -20.48

Meredith Corp's Tangible Book Value Per Share for the quarter that ended in Dec. 2016 is calculated as

 Tangible Book Value per Share = (Total Equity - Preferred Stock - Intangibles) / Shares Outstanding (EOP) = (955.885 - 0 - 1813.156) / 44.56 = -19.24

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Meredith Corp Annual Data

 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Tangibles_book_per_share -8.95 -11.80 -9.30 -7.84 -6.58 -11.75 -11.72 -17.21 -22.94 -20.48

Meredith Corp Quarterly Data

 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Tangibles_book_per_share -17.45 -21.36 -23.60 -22.94 -22.81 -22.48 -21.22 -20.48 -20.03 -19.24
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to \$400 per referral. ( Learn More)