{"product_id":"price-to-book-ratio","title":"Price to Book Ratio Calculator","description":"\u003cstyle\u003e\n.pbr-calculator {\n  --ink: #0f172a;\n  --muted: #475569;\n  --border: #e2e8f0;\n  --surface: #ffffff;\n  --tint: #f8fafc;\n  --primary: #1d4ed8;\n  --accent: #c2410c;\n  --accent-hover: #9a3412;\n  --chart-1: #1e40af;\n  --chart-2: #0d9488;\n  --chart-3: #7c3aed;\n  --chart-4: #be185d;\n  --chart-5: #334155;\n  width: 100%;\n  max-width: 1200px;\n  margin: 0 auto;\n  color: var(--ink);\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  padding: 24px;\n  font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Helvetica, Arial, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  overflow-wrap: anywhere;\n  container-type: inline-size;\n  container-name: pbr;\n}\n.pbr-calculator,\n.pbr-calculator *,\n.pbr-calculator *::before,\n.pbr-calculator *::after {\n  box-sizing: border-box;\n  min-width: 0;\n}\n.pbr-calculator h2,\n.pbr-calculator h3,\n.pbr-calculator p {\n  margin-top: 0;\n}\n.pbr-calculator button,\n.pbr-calculator input,\n.pbr-calculator select {\n  font: inherit;\n}\n.pbr-calculator a {\n  color: var(--primary);\n  text-decoration-thickness: 1px;\n  text-underline-offset: 2px;\n}\n.pbr-calculator a:hover {\n  text-decoration-thickness: 2px;\n}\n.pbr-header {\n  display: grid;\n  gap: 12px;\n  margin-bottom: 16px;\n}\n.pbr-title {\n  margin: 0;\n  font-size: 24px;\n  line-height: 1.25;\n  font-weight: 700;\n  letter-spacing: -0.02em;\n}\n.pbr-subtitle {\n  margin: 0;\n  max-width: 760px;\n  color: var(--muted);\n}\n.pbr-pills {\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px;\n}\n.pbr-pill {\n  display: inline-flex;\n  align-items: center;\n  gap: 6px;\n  min-height: 30px;\n  padding: 4px 10px;\n  border: 1px solid var(--border);\n  border-radius: 999px;\n  background: var(--surface);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  white-space: nowrap;\n}\n.pbr-pill strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n}\n.pbr-toolbar {\n  display: flex;\n  flex-wrap: wrap;\n  align-items: center;\n  gap: 8px;\n  margin-bottom: 16px;\n}\n.pbr-button {\n  min-height: 44px;\n  border: 1px solid transparent;\n  border-radius: 6px;\n  padding: 10px 16px;\n  font-size: 15px;\n  font-weight: 650;\n  line-height: 1.2;\n  cursor: pointer;\n  transition: background-color .15s ease, border-color .15s ease, box-shadow .15s ease, transform .15s ease;\n}\n.pbr-button:focus-visible,\n.pbr-input:focus-visible,\n.pbr-select:focus-visible,\n.pbr-check-input:focus-visible + .pbr-check-box {\n  outline: 3px solid rgba(29, 78, 216, .28);\n  outline-offset: 2px;\n}\n.pbr-button:hover {\n  box-shadow: 0 2px 5px rgba(15, 23, 42, .12);\n}\n.pbr-button:active {\n  transform: translateY(1px);\n}\n.pbr-download {\n  display: inline-flex;\n  align-items: center;\n  gap: 10px;\n  padding: 12px 18px;\n  background: var(--accent);\n  color: #ffffff;\n  white-space: nowrap;\n}\n.pbr-download:hover {\n  background: var(--accent-hover);\n}\n.pbr-download-icon {\n  width: 18px;\n  height: 18px;\n  flex: 0 0 18px;\n}\n.pbr-reset {\n  background: var(--surface);\n  color: var(--ink);\n  border-color: #cbd5e1;\n}\n.pbr-reset:hover {\n  background: #f1f5f9;\n  border-color: #94a3b8;\n}\n.pbr-workspace {\n  display: grid;\n  grid-template-columns: minmax(0, 1fr);\n  gap: 16px;\n  align-items: start;\n}\n.pbr-card {\n  background: var(--surface);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, .06);\n  padding: 16px;\n}\n.pbr-section-title {\n  margin: 0 0 12px;\n  font-size: 18px;\n  line-height: 1.35;\n  font-weight: 650;\n}\n.pbr-section-intro {\n  margin: -4px 0 16px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-input-grid {\n  display: grid;\n  grid-template-columns: repeat(2, minmax(0, 1fr));\n  gap: 16px 12px;\n  align-items: start;\n}\n.pbr-field {\n  display: grid;\n  grid-template-rows: auto auto minmax(38px, auto);\n  gap: 6px;\n  align-content: start;\n}\n.pbr-field-wide {\n  grid-column: 1 \/ -1;\n}\n.pbr-label {\n  display: block;\n  color: var(--ink);\n  font-size: 14px;\n  font-weight: 600;\n  line-height: 1.35;\n}\n.pbr-control {\n  position: relative;\n  display: flex;\n  align-items: center;\n}\n.pbr-input,\n.pbr-select {\n  width: 100%;\n  min-height: 44px;\n  border: 1px solid #cbd5e1;\n  border-radius: 6px;\n  background: var(--surface);\n  color: var(--ink);\n  padding: 10px 12px;\n  font-size: 15px;\n  line-height: 1.3;\n  font-variant-numeric: tabular-nums;\n}\n.pbr-input {\n  padding-left: 30px;\n  padding-right: 82px;\n}\n.pbr-input-plain {\n  padding-left: 12px;\n}\n.pbr-input:disabled {\n  background: #f1f5f9;\n  color: #64748b;\n}\n.pbr-prefix,\n.pbr-suffix {\n  position: absolute;\n  top: 50%;\n  transform: translateY(-50%);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 600;\n  pointer-events: none;\n  white-space: nowrap;\n}\n.pbr-prefix {\n  left: 12px;\n}\n.pbr-suffix {\n  right: 12px;\n}\n.pbr-helper,\n.pbr-error {\n  min-height: 38px;\n  margin: 0;\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.45;\n}\n.pbr-helper {\n  color: var(--muted);\n}\n.pbr-error {\n  color: #b91c1c;\n}\n.pbr-error:empty {\n  display: none;\n}\n.pbr-check-row {\n  display: flex;\n  align-items: flex-start;\n  gap: 10px;\n  min-height: 44px;\n  padding: 10px 12px;\n  border: 1px solid #cbd5e1;\n  border-radius: 6px;\n  background: var(--tint);\n  cursor: pointer;\n}\n.pbr-check-input {\n  position: absolute;\n  opacity: 0;\n  pointer-events: none;\n}\n.pbr-check-box {\n  position: relative;\n  width: 20px;\n  height: 20px;\n  flex: 0 0 20px;\n  margin-top: 1px;\n  border: 2px solid #64748b;\n  border-radius: 4px;\n  background: #ffffff;\n}\n.pbr-check-input:checked + .pbr-check-box {\n  background: var(--primary);\n  border-color: var(--primary);\n}\n.pbr-check-input:checked + .pbr-check-box::after {\n  content: \"\";\n  position: absolute;\n  left: 5px;\n  top: 1px;\n  width: 5px;\n  height: 10px;\n  border: solid #ffffff;\n  border-width: 0 2px 2px 0;\n  transform: rotate(45deg);\n}\n.pbr-check-copy {\n  display: grid;\n  gap: 2px;\n}\n.pbr-check-copy strong {\n  font-size: 14px;\n  line-height: 1.35;\n}\n.pbr-check-copy span {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-hidden {\n  display: none !important;\n}\n.pbr-primary-result {\n  display: grid;\n  gap: 4px;\n  margin-bottom: 12px;\n  padding: 16px;\n  border: 1px solid #bfdbfe;\n  border-radius: 8px;\n  background: #eff6ff;\n}\n.pbr-primary-label {\n  color: #1e3a8a;\n  font-size: 13px;\n  font-weight: 650;\n  text-transform: uppercase;\n  letter-spacing: .04em;\n}\n.pbr-primary-value {\n  font-size: 30px;\n  line-height: 1.1;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n}\n.pbr-primary-note {\n  margin: 2px 0 0;\n  color: #334155;\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-result-grid {\n  display: grid;\n  grid-template-columns: repeat(2, minmax(0, 1fr));\n  gap: 8px;\n}\n.pbr-result-card {\n  display: grid;\n  align-content: start;\n  gap: 4px;\n  min-height: 90px;\n  padding: 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--surface);\n}\n.pbr-result-label {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 600;\n  line-height: 1.35;\n}\n.pbr-result-value {\n  color: var(--ink);\n  font-size: 20px;\n  line-height: 1.2;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n}\n.pbr-result-sub {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.35;\n}\n.pbr-result-callout {\n  margin-top: 12px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-breakdown,\n.pbr-table-section,\n.pbr-education {\n  margin-top: 16px;\n}\n.pbr-breakdown-total {\n  margin: -4px 0 16px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-breakdown-total strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n}\n.pbr-chart-cluster {\n  display: grid;\n  grid-template-columns: minmax(220px, 280px) minmax(0, max-content);\n  justify-content: center;\n  align-items: end;\n  gap: 24px;\n  width: 100%;\n}\n.pbr-chart-visual {\n  width: min(100%, 280px);\n  aspect-ratio: 1;\n  margin: 0 auto;\n}\n.pbr-chart-svg {\n  display: block;\n  width: 100%;\n  height: 100%;\n  overflow: visible;\n}\n.pbr-chart-legend {\n  display: grid;\n  align-content: center;\n  gap: 8px;\n  width: max-content;\n  max-width: 100%;\n}\n.pbr-legend-row {\n  display: grid;\n  grid-template-columns: 12px minmax(90px, max-content) max-content max-content;\n  align-items: center;\n  gap: 8px;\n  padding: 4px 0;\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-legend-swatch {\n  width: 12px;\n  height: 12px;\n  border-radius: 3px;\n}\n.pbr-legend-name {\n  color: var(--ink);\n}\n.pbr-legend-value,\n.pbr-legend-percent {\n  color: var(--muted);\n  font-variant-numeric: tabular-nums;\n  white-space: nowrap;\n}\n.pbr-chart-caption {\n  margin-top: 16px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-chart-empty {\n  max-width: 520px;\n  margin: 0 auto;\n  padding: 12px;\n  border: 1px dashed #94a3b8;\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  text-align: center;\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-safe-stack .pbr-chart-cluster {\n  grid-template-columns: minmax(0, 1fr);\n  justify-items: center;\n  row-gap: 20px;\n}\n.pbr-safe-stack .pbr-chart-caption {\n  margin-top: 20px;\n}\n.pbr-table-wrap {\n  width: 100%;\n  overflow-x: auto;\n  overflow-y: visible;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--surface);\n}\n.pbr-table {\n  width: 100%;\n  min-width: 680px;\n  border-collapse: collapse;\n  font-size: 13px;\n}\n.pbr-table th,\n.pbr-table td {\n  padding: 10px 12px;\n  border-bottom: 1px solid var(--border);\n  text-align: left;\n  vertical-align: top;\n}\n.pbr-table th {\n  background: #1e3a5f;\n  color: #ffffff;\n  font-weight: 650;\n}\n.pbr-table tbody tr:last-child td {\n  border-bottom: 0;\n}\n.pbr-table tbody tr:hover td {\n  background: #f8fafc;\n}\n.pbr-table .pbr-num {\n  text-align: right;\n  font-variant-numeric: tabular-nums;\n  white-space: nowrap;\n}\n.pbr-table-note {\n  margin-top: 16px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.pbr-safe-table-stack .pbr-table-note {\n  margin-top: 20px;\n}\n.pbr-education {\n  display: grid;\n  gap: 16px;\n}\n.pbr-education-block {\n  padding: 16px;\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  background: var(--surface);\n}\n.pbr-education h2 {\n  margin: 0 0 10px;\n  font-size: 18px;\n  line-height: 1.35;\n  font-weight: 650;\n}\n.pbr-education h3 {\n  margin: 16px 0 6px;\n  font-size: 15px;\n  line-height: 1.4;\n  font-weight: 700;\n}\n.pbr-education p,\n.pbr-education ul {\n  margin-bottom: 10px;\n}\n.pbr-education p:last-child,\n.pbr-education ul:last-child {\n  margin-bottom: 0;\n}\n.pbr-education ul {\n  padding-left: 20px;\n}\n.pbr-formula {\n  padding: 10px 12px;\n  border-left: 4px solid var(--primary);\n  border-radius: 0 6px 6px 0;\n  background: #eff6ff;\n  color: #1e3a8a;\n  font-weight: 650;\n  font-variant-numeric: tabular-nums;\n}\n.pbr-screen-reader {\n  position: absolute;\n  width: 1px;\n  height: 1px;\n  padding: 0;\n  margin: -1px;\n  overflow: hidden;\n  clip: rect(0, 0, 0, 0);\n  white-space: nowrap;\n  border: 0;\n}\n@media (min-width: 900px) {\n  .pbr-workspace {\n    grid-template-columns: minmax(0, 1.05fr) minmax(0, .95fr);\n  }\n}\n@media (max-width: 760px) {\n  .pbr-calculator {\n    padding: 16px;\n  }\n  .pbr-input-grid,\n  .pbr-result-grid {\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .pbr-field-wide {\n    grid-column: auto;\n  }\n}\n@media (max-width: 639px) {\n  .pbr-chart-cluster {\n    grid-template-columns: minmax(0, 1fr);\n    justify-items: center;\n    row-gap: 16px;\n  }\n  .pbr-chart-legend {\n    width: 100%;\n    max-width: 420px;\n  }\n  .pbr-legend-row {\n    grid-template-columns: 12px minmax(0, 1fr) max-content;\n  }\n  .pbr-legend-percent {\n    grid-column: 2 \/ -1;\n    justify-self: start;\n    padding-left: 0;\n  }\n  .pbr-chart-caption,\n  .pbr-table-note {\n    margin-top: 12px;\n  }\n}\n@media (max-width: 380px) {\n  .pbr-calculator {\n    padding: 12px;\n  }\n  .pbr-card,\n  .pbr-education-block {\n    padding: 12px;\n  }\n  .pbr-toolbar {\n    align-items: stretch;\n  }\n  .pbr-button {\n    justify-content: center;\n    flex: 1 1 auto;\n  }\n  .pbr-download {\n    flex-basis: 100%;\n  }\n  .pbr-primary-value {\n    font-size: 28px;\n  }\n}\n\n@container pbr (min-width: 900px) {\n  .pbr-workspace {\n    grid-template-columns: minmax(0, 1.05fr) minmax(0, .95fr);\n  }\n}\n@container pbr (max-width: 899px) {\n  .pbr-workspace {\n    grid-template-columns: minmax(0, 1fr);\n  }\n}\n@container pbr (max-width: 760px) {\n  .pbr-input-grid,\n  .pbr-result-grid {\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .pbr-field-wide {\n    grid-column: auto;\n  }\n}\n@container pbr (max-width: 639px) {\n  .pbr-chart-cluster {\n    grid-template-columns: minmax(0, 1fr);\n    justify-items: center;\n    row-gap: 16px;\n  }\n  .pbr-chart-legend {\n    width: 100%;\n    max-width: 420px;\n  }\n  .pbr-legend-row {\n    grid-template-columns: 12px minmax(0, 1fr) max-content;\n  }\n  .pbr-legend-percent {\n    grid-column: 2 \/ -1;\n    justify-self: start;\n    padding-left: 0;\n  }\n  .pbr-chart-caption,\n  .pbr-table-note {\n    margin-top: 12px;\n  }\n}\n@container pbr (max-width: 380px) {\n  .pbr-card,\n  .pbr-education-block {\n    padding: 12px;\n  }\n  .pbr-toolbar {\n    align-items: stretch;\n  }\n  .pbr-button {\n    justify-content: center;\n    flex: 1 1 auto;\n  }\n  .pbr-download {\n    flex-basis: 100%;\n  }\n  .pbr-primary-value {\n    font-size: 28px;\n  }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"pbr-calculator\" data-calculator-root\u003e\n  \u003cheader class=\"pbr-header\"\u003e\n    \u003ch2 class=\"pbr-title\"\u003ePrice-to-Book Ratio Calculator\u003c\/h2\u003e\n    \u003cp class=\"pbr-subtitle\"\u003eCompare a company’s market price with its common book value per share, then extend the analysis to tangible book value when intangible assets are material.\u003c\/p\u003e\n    \u003cdiv class=\"pbr-pills\" aria-label=\"Live calculation summary\"\u003e\n      \u003cspan class=\"pbr-pill\"\u003eP\/B \u003cstrong data-pbr-pill=\"pb\"\u003e1.07×\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"pbr-pill\"\u003eBook value\/share \u003cstrong data-pbr-pill=\"bvps\"\u003e$74.68\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"pbr-pill\"\u003eCommon equity \u003cstrong data-pbr-pill=\"common\"\u003e$231.20B\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"pbr-pill\" data-pbr-tangible-pill\u003eP\/TBV \u003cstrong data-pbr-pill=\"ptbv\"\u003e1.38×\u003c\/strong\u003e\u003c\/span\u003e\n    \u003c\/div\u003e\n  \u003c\/header\u003e\n\n  \u003cdiv class=\"pbr-toolbar\" aria-label=\"Calculator actions\"\u003e\n    \u003cbutton class=\"pbr-button pbr-download\" type=\"button\" data-pbr-action=\"download\"\u003e\n      \u003csvg class=\"pbr-download-icon\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"\u003e\n        \u003cpath d=\"M12 3v11m0 0 4-4m-4 4-4-4M5 17v3h14v-3\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\u003e\u003c\/path\u003e\n      \u003c\/svg\u003e\n      \u003cspan\u003eDownload Excel\u003c\/span\u003e\n    \u003c\/button\u003e\n    \u003cbutton class=\"pbr-button pbr-reset\" type=\"button\" data-pbr-action=\"reset\"\u003eReset\u003c\/button\u003e\n  \u003c\/div\u003e\n\n  \u003cdiv class=\"pbr-workspace\"\u003e\n    \u003csection class=\"pbr-card pbr-inputs\" aria-labelledby=\"pbr-input-heading\"\u003e\n      \u003ch3 class=\"pbr-section-title\" id=\"pbr-input-heading\"\u003eCompany inputs\u003c\/h3\u003e\n      \u003cp class=\"pbr-section-intro\"\u003eUse one consistent reporting scale for equity and shares. The example values are stated in millions.\u003c\/p\u003e\n      \u003cdiv class=\"pbr-input-grid\"\u003e\n        \u003cdiv class=\"pbr-field pbr-field-wide\"\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-scale\"\u003eReporting scale\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cselect class=\"pbr-select\" id=\"pbr-scale\" data-pbr-input=\"scale\" aria-describedby=\"pbr-scale-help\"\u003e\n              \u003coption value=\"1\"\u003eActual dollars and shares\u003c\/option\u003e\n              \u003coption value=\"1000\"\u003eThousands\u003c\/option\u003e\n              \u003coption value=\"1000000\" selected\u003eMillions\u003c\/option\u003e\n            \u003c\/select\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-scale-help\"\u003eChanging the scale converts current equity and share values rather than only changing their labels.\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field\"\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-total-equity\"\u003eTotal stockholders’ equity\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cspan class=\"pbr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"pbr-input\" id=\"pbr-total-equity\" data-pbr-input=\"totalEquity\" type=\"text\" inputmode=\"decimal\" value=\"261,262.00\" aria-describedby=\"pbr-total-equity-help pbr-total-equity-error\"\u003e\n            \u003cspan class=\"pbr-suffix\" data-pbr-unit=\"money\"\u003eM\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-total-equity-help\"\u003eCommon plus preferred equity reported on the balance sheet.\u003c\/p\u003e\n          \u003cp class=\"pbr-error\" id=\"pbr-total-equity-error\" data-pbr-error=\"totalEquity\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field\"\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-preferred-equity\"\u003ePreferred equity\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cspan class=\"pbr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"pbr-input\" id=\"pbr-preferred-equity\" data-pbr-input=\"preferredEquity\" type=\"text\" inputmode=\"decimal\" value=\"30,063.00\" aria-describedby=\"pbr-preferred-equity-help pbr-preferred-equity-error\"\u003e\n            \u003cspan class=\"pbr-suffix\" data-pbr-unit=\"money\"\u003eM\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-preferred-equity-help\"\u003eDeduct this claim to isolate book value attributable to common shareholders.\u003c\/p\u003e\n          \u003cp class=\"pbr-error\" id=\"pbr-preferred-equity-error\" data-pbr-error=\"preferredEquity\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field\"\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-shares\"\u003eShares outstanding\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cinput class=\"pbr-input pbr-input-plain\" id=\"pbr-shares\" data-pbr-input=\"shares\" type=\"text\" inputmode=\"decimal\" value=\"3,095.80\" aria-describedby=\"pbr-shares-help pbr-shares-error\"\u003e\n            \u003cspan class=\"pbr-suffix\" data-pbr-unit=\"shares\"\u003eM shares\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-shares-help\"\u003eUse the diluted or basic share count that matches your analysis.\u003c\/p\u003e\n          \u003cp class=\"pbr-error\" id=\"pbr-shares-error\" data-pbr-error=\"shares\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field\"\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-share-price\"\u003eShare price\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cspan class=\"pbr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"pbr-input\" id=\"pbr-share-price\" data-pbr-input=\"sharePrice\" type=\"text\" inputmode=\"decimal\" value=\"80.10\" aria-describedby=\"pbr-share-price-help pbr-share-price-error\"\u003e\n            \u003cspan class=\"pbr-suffix\"\u003eper share\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-share-price-help\"\u003eEnter the market price for the same date or period used in the financial statements.\u003c\/p\u003e\n          \u003cp class=\"pbr-error\" id=\"pbr-share-price-error\" data-pbr-error=\"sharePrice\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field pbr-field-wide\"\u003e\n          \u003clabel class=\"pbr-check-row\" for=\"pbr-include-tangible\"\u003e\n            \u003cinput class=\"pbr-check-input\" id=\"pbr-include-tangible\" data-pbr-input=\"includeTangible\" type=\"checkbox\" checked\u003e\n            \u003cspan class=\"pbr-check-box\" aria-hidden=\"true\"\u003e\u003c\/span\u003e\n            \u003cspan class=\"pbr-check-copy\"\u003e\n              \u003cstrong\u003eInclude tangible book analysis\u003c\/strong\u003e\n              \u003cspan\u003eDeduct goodwill and other intangible assets to calculate tangible book value per share and P\/TBV.\u003c\/span\u003e\n            \u003c\/span\u003e\n          \u003c\/label\u003e\n          \u003cp class=\"pbr-helper\"\u003eUseful for asset-heavy businesses and for testing how much book value depends on intangible assets.\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"pbr-field pbr-field-wide\" data-pbr-tangible-field\u003e\n          \u003clabel class=\"pbr-label\" for=\"pbr-intangibles\"\u003eGoodwill and other intangible assets\u003c\/label\u003e\n          \u003cdiv class=\"pbr-control\"\u003e\n            \u003cspan class=\"pbr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"pbr-input\" id=\"pbr-intangibles\" data-pbr-input=\"intangibles\" type=\"text\" inputmode=\"decimal\" value=\"51,867.00\" aria-describedby=\"pbr-intangibles-help pbr-intangibles-error\"\u003e\n            \u003cspan class=\"pbr-suffix\" data-pbr-unit=\"money\"\u003eM\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cp class=\"pbr-helper\" id=\"pbr-intangibles-help\"\u003eInclude goodwill plus identifiable intangible assets if you want a strict tangible measure.\u003c\/p\u003e\n          \u003cp class=\"pbr-error\" id=\"pbr-intangibles-error\" data-pbr-error=\"intangibles\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"pbr-card pbr-results\" aria-labelledby=\"pbr-results-heading\"\u003e\n      \u003ch3 class=\"pbr-section-title\" id=\"pbr-results-heading\"\u003eLive results\u003c\/h3\u003e\n      \u003cdiv class=\"pbr-primary-result\" aria-live=\"polite\" aria-atomic=\"true\"\u003e\n        \u003cspan class=\"pbr-primary-label\"\u003ePrice-to-book ratio\u003c\/span\u003e\n        \u003cstrong class=\"pbr-primary-value\" data-pbr-result=\"pb\"\u003e1.07×\u003c\/strong\u003e\n        \u003cp class=\"pbr-primary-note\" data-pbr-result=\"interpretation\"\u003eThe market price is about 1.07 times common book value per share.\u003c\/p\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"pbr-result-grid\"\u003e\n        \u003cdiv class=\"pbr-result-card\"\u003e\n          \u003cspan class=\"pbr-result-label\"\u003eBook value per share\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"bvps\"\u003e$74.68\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eCommon book equity ÷ shares\u003c\/span\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"pbr-result-card\"\u003e\n          \u003cspan class=\"pbr-result-label\"\u003eCommon book equity\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"commonEquity\"\u003e$231.20B\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eTotal equity less preferred equity\u003c\/span\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"pbr-result-card\"\u003e\n          \u003cspan class=\"pbr-result-label\"\u003eMarket capitalization\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"marketCap\"\u003e$247.97B\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eShare price × shares outstanding\u003c\/span\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"pbr-result-card\"\u003e\n          \u003cspan class=\"pbr-result-label\"\u003ePremium \/ discount to book\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"premium\"\u003e7.26%\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eP\/B minus 1.00\u003c\/span\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"pbr-result-card\" data-pbr-tangible-result\u003e\n          \u003cspan class=\"pbr-result-label\"\u003eTangible book value per share\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"tbvps\"\u003e$57.93\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eTangible common equity ÷ shares\u003c\/span\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"pbr-result-card\" data-pbr-tangible-result\u003e\n          \u003cspan class=\"pbr-result-label\"\u003ePrice-to-tangible-book\u003c\/span\u003e\n          \u003cstrong class=\"pbr-result-value\" data-pbr-result=\"ptbv\"\u003e1.38×\u003c\/strong\u003e\n          \u003cspan class=\"pbr-result-sub\"\u003eShare price ÷ tangible book value\/share\u003c\/span\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"pbr-result-callout\" data-pbr-result=\"warning\"\u003eRatios are accounting comparisons, not standalone valuation conclusions. Compare companies with similar business models and accounting profiles.\u003c\/div\u003e\n    \u003c\/section\u003e\n  \u003c\/div\u003e\n\n  \u003csection class=\"pbr-card pbr-breakdown\" aria-labelledby=\"pbr-breakdown-heading\" data-pbr-chart-card\u003e\n    \u003ch3 class=\"pbr-section-title\" id=\"pbr-breakdown-heading\"\u003eEquity composition\u003c\/h3\u003e\n    \u003cp class=\"pbr-breakdown-total\"\u003eRepresented total: \u003cstrong data-pbr-result=\"chartTotal\"\u003e$261.26B\u003c\/strong\u003e\u003c\/p\u003e\n    \u003cdiv class=\"pbr-chart-empty pbr-hidden\" data-pbr-chart-empty\u003eEnter positive, internally consistent equity values to see the breakdown.\u003c\/div\u003e\n    \u003cdiv class=\"pbr-chart-cluster\" data-pbr-chart-cluster\u003e\n      \u003cdiv class=\"pbr-chart-visual\" data-pbr-chart-visual\u003e\n        \u003csvg class=\"pbr-chart-svg\" data-pbr-chart viewbox=\"0 0 280 280\" role=\"img\" aria-labelledby=\"pbr-chart-title pbr-chart-desc\"\u003e\n          \u003ctitle id=\"pbr-chart-title\"\u003eEquity composition donut chart\u003c\/title\u003e\n          \u003cdesc id=\"pbr-chart-desc\" data-pbr-chart-desc\u003eEquity composition based on current calculator inputs.\u003c\/desc\u003e\n          \u003cg data-pbr-chart-marks\u003e\u003c\/g\u003e\n        \u003c\/svg\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"pbr-chart-legend\" data-pbr-chart-legend aria-label=\"Equity composition legend\"\u003e\u003c\/div\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"pbr-chart-caption\" data-pbr-chart-caption\u003eThe chart separates preferred equity, intangible common equity, and tangible common equity so the accounting layers remain visible.\u003c\/div\u003e\n    \u003cdiv class=\"pbr-table-wrap\" data-pbr-breakdown-wrap style=\"margin-top:16px;\"\u003e\n      \u003ctable class=\"pbr-table\" aria-label=\"Equity composition data table\"\u003e\n        \u003cthead\u003e\n          \u003ctr\u003e\n            \u003cth scope=\"col\"\u003eComponent\u003c\/th\u003e\n            \u003cth scope=\"col\" class=\"pbr-num\"\u003eAmount\u003c\/th\u003e\n            \u003cth scope=\"col\" class=\"pbr-num\"\u003eShare of represented total\u003c\/th\u003e\n          \u003c\/tr\u003e\n        \u003c\/thead\u003e\n        \u003ctbody data-pbr-breakdown-body\u003e\u003c\/tbody\u003e\n      \u003c\/table\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"pbr-card pbr-table-section\" aria-labelledby=\"pbr-table-heading\" data-pbr-table-card\u003e\n    \u003ch3 class=\"pbr-section-title\" id=\"pbr-table-heading\"\u003eCalculation detail\u003c\/h3\u003e\n    \u003cdiv class=\"pbr-table-wrap\" data-pbr-table-wrap\u003e\n      \u003ctable class=\"pbr-table\" aria-label=\"Price-to-book calculation detail\"\u003e\n        \u003cthead\u003e\n          \u003ctr\u003e\n            \u003cth scope=\"col\"\u003eMetric\u003c\/th\u003e\n            \u003cth scope=\"col\"\u003eFormula\u003c\/th\u003e\n            \u003cth scope=\"col\" class=\"pbr-num\"\u003eCurrent value\u003c\/th\u003e\n          \u003c\/tr\u003e\n        \u003c\/thead\u003e\n        \u003ctbody data-pbr-calculation-body\u003e\u003c\/tbody\u003e\n      \u003c\/table\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"pbr-table-note\" data-pbr-table-note\u003ePer-share metrics use normalized dollar and share amounts, so changing the reporting scale does not change the economic result.\u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"pbr-education\" aria-label=\"Price-to-book ratio guidance\"\u003e\n    \u003cdiv class=\"pbr-education-block\"\u003e\n      \u003ch2\u003eWhat does this calculator estimate?\u003c\/h2\u003e\n      \u003cp\u003eThe price-to-book ratio compares a company’s market price per share with the accounting book value attributable to each common share. Book value is a balance-sheet measure: total stockholders’ equity less any preferred equity claim. The calculator also estimates market capitalization, the premium or discount to book value, and—when enabled—tangible book value after deducting goodwill and other intangible assets.\u003c\/p\u003e\n      \u003cp\u003eA ratio of 1.00× means the market price equals book value per share. A value above 1.00× means the market assigns a premium to recorded common equity; a value below 1.00× means the stock trades below that accounting amount. Neither outcome is automatically favorable or unfavorable. Asset quality, expected profitability, industry economics, capital requirements, and accounting choices all affect interpretation.\u003c\/p\u003e\n      \u003cdiv class=\"pbr-formula\"\u003eP\/B = Share price ÷ [(Total stockholders’ equity − Preferred equity) ÷ Shares outstanding]\u003c\/div\u003e\n    \u003c\/div\u003e\n\n    \u003cdiv class=\"pbr-education-block\"\u003e\n      \u003ch2\u003eHow should each input be completed?\u003c\/h2\u003e\n      \u003ch3\u003eReporting scale\u003c\/h3\u003e\n      \u003cp\u003eSelect actual units, thousands, or millions. Equity and share counts must use the same scale. For example, entering equity in millions and shares in millions produces a correct dollar-per-share result. Switching the selector converts current values, which helps prevent accidental unit mismatches.\u003c\/p\u003e\n      \u003ch3\u003eTotal stockholders’ equity\u003c\/h3\u003e\n      \u003cp\u003eEnter the total equity reported on the balance sheet. It normally includes common equity and preferred equity. A higher total, holding other inputs constant, increases book value per share and lowers P\/B. Negative total equity can occur, but a conventional positive P\/B interpretation is then not meaningful. The \u003ca href=\"https:\/\/www.sec.gov\/about\/reports-publications\/investorpubsbegfinstmtguide\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSEC’s guide to financial statements\u003c\/a\u003e explains where balance-sheet equity fits within company reporting.\u003c\/p\u003e\n      \u003ch3\u003ePreferred equity\u003c\/h3\u003e\n      \u003cp\u003eEnter the carrying amount attributable to preferred shareholders. The calculator deducts it because common shareholders do not own that claim. Use zero when there is no preferred stock. A larger preferred balance reduces common book equity, reduces book value per share, and increases P\/B for a fixed share price.\u003c\/p\u003e\n      \u003ch3\u003eShares outstanding\u003c\/h3\u003e\n      \u003cp\u003eEnter the share count that matches your analytical purpose. Basic shares are simpler, while diluted shares can be more conservative when options, restricted stock, or convertible securities are material. A larger share count spreads common equity across more shares, reducing book value per share and increasing P\/B. Avoid mixing an end-of-period equity balance with a share count from an unrelated date.\u003c\/p\u003e\n      \u003ch3\u003eShare price\u003c\/h3\u003e\n      \u003cp\u003eUse a market price aligned as closely as practical with the financial statement date. A higher price increases P\/B, market capitalization, and the premium to book. The price must be nonnegative. For historical analysis, keep the price date explicit so the ratio is not mistaken for a current valuation.\u003c\/p\u003e\n      \u003ch3\u003eGoodwill and other intangible assets\u003c\/h3\u003e\n      \u003cp\u003eEnable tangible analysis when you want to remove assets without direct physical substance. Goodwill, acquired customer relationships, trademarks, and technology can be economically valuable, but their carrying values may not be readily realizable. Higher intangibles reduce tangible common equity and tangible book value per share, which raises P\/TBV when tangible equity remains positive. The \u003ca href=\"https:\/\/asc.fasb.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFASB Accounting Standards Codification\u003c\/a\u003e is the authoritative U.S. source for accounting recognition and measurement rules.\u003c\/p\u003e\n    \u003c\/div\u003e\n\n    \u003cdiv class=\"pbr-education-block\"\u003e\n      \u003ch2\u003eHow should the results be interpreted?\u003c\/h2\u003e\n      \u003ch3\u003ePrice-to-book ratio\u003c\/h3\u003e\n      \u003cp\u003eThe main result shows how many dollars of market value investors assign to each dollar of common book equity. A high ratio often appears where expected returns on equity, growth, or intangible competitive advantages are strong. A low ratio can reflect cyclical pressure, weak expected profitability, asset-quality concerns, or a genuinely low market valuation. Compare the ratio with peers using similar accounting and capital structures rather than applying one universal threshold.\u003c\/p\u003e\n      \u003ch3\u003eBook value per share and common book equity\u003c\/h3\u003e\n      \u003cp\u003eCommon book equity is the residual after preferred equity is deducted. Book value per share divides that residual by shares outstanding. Zero or negative common equity makes the standard ratio undefined or economically difficult to interpret, so the calculator displays a clear unavailable state rather than producing infinity.\u003c\/p\u003e\n      \u003ch3\u003eMarket capitalization and premium or discount\u003c\/h3\u003e\n      \u003cp\u003eMarket capitalization equals price times shares outstanding. The premium or discount equals P\/B minus 1.00. Positive percentages indicate a premium to book; negative percentages indicate a discount. This percentage is not an expected return and does not measure downside protection.\u003c\/p\u003e\n      \u003ch3\u003eTangible book value per share and P\/TBV\u003c\/h3\u003e\n      \u003cp\u003eTangible common equity deducts intangible assets from common book equity. P\/TBV is especially sensitive when tangible equity is small. If intangible assets exceed common book equity, tangible equity becomes negative and a positive multiple is not meaningful. The result panel flags this condition instead of presenting a misleading ratio.\u003c\/p\u003e\n      \u003ch3\u003eEquity composition chart and calculation table\u003c\/h3\u003e\n      \u003cp\u003eThe donut chart reconciles positive components to represented total equity. With tangible analysis enabled, it separates tangible common equity, intangible common equity, and preferred equity. The legend and table use the same live model values. The calculation table then shows each formula step, including normalized values, per-share results, multiples, and the market premium or discount.\u003c\/p\u003e\n    \u003c\/div\u003e\n\n    \u003cdiv class=\"pbr-education-block\"\u003e\n      \u003ch2\u003eWhat are the main benefits, limitations, and common mistakes?\u003c\/h2\u003e\n      \u003cp\u003eP\/B is easy to reproduce from public filings, ma\nkes capital intensity visible, and can be useful for banks, insurers, and other businesses where balance-sheet assets and liabilities are central to economics. It is less informative for companies whose value depends heavily on internally developed brands, software, networks, or human capital that accounting rules may not recognize as assets.\u003c\/p\u003e\n      \u003cp\u003eCommon mistakes include mixing equity and share units, failing to subtract preferred equity, using stale share counts, comparing unrelated industries, and treating book value as liquidation value. Recorded assets may differ materially from current market values, while liabilities, contingencies, and off-balance-sheet exposures can alter economic risk. The \u003ca href=\"https:\/\/www.finra.org\/investors\/investing\/investment-products\/stocks\/fundamental-analysis\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFINRA overview of fundamental analysis\u003c\/a\u003e provides broader context for combining financial statements, ratios, and qualitative factors.\u003c\/p\u003e\n      \u003cp\u003eUse this calculator as one accounting lens. Pair it with profitability measures such as return on equity, asset-quality analysis, cash-flow review, and a forward-looking valuation framework. The results are educational and should not be treated as personalized investment, tax, legal, or accounting advice.\u003c\/p\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909488255219,"sku":"price-to-book-ratio","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/price-to-book-ratio.webp?v=1783935547","url":"https:\/\/financialmodelslab.com\/products\/price-to-book-ratio","provider":"Financial Models Lab","version":"1.0","type":"link"}