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The price-to-tangible-book ratio, or P/B ratio, can be calculated as follows: Price to Tangible Book = Share Price / {Tangible Book Value per Share} It can also be calculated from the numbers for the whole company: Price to Tangible Book = {Market Cap} / {Tangible Equity} A closely related ratio is called {P/B Ratio}. The difference between Price-to-Tangible-Book Ratio and {P/B Ratio} is that book value other than intangibles are used in the calculation.