Returns intangibles as percentage of book value

Returns the historical price-to-tangible-book ratio, comparing stock price to book value excluding intangible assets like goodwill and patents.

Use when user asks for:
- Historical price to tangible book value
- Stock valuation excluding intangibles over time
- How did tangible book value compare to price historically
- Historical valuation with intangibles removed

Do NOT use when:
- Need standard price to book ratio -> use Price_To_Book()
- Need intangibles percentage analysis -> use hf_Intangibles_as_percentage_book_value()
- Need current price to book -> use Price_To_Book()
- Need book value per share -> use hf_Book_value_per_share()

# Price To Tangible Book Ratio (Historical)

Price divided by tangible book value (excludes intangibles).

Price To Tangible Book Ratio (Historical)

Examples

When to Use

When NOT to Use

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