In reviewing HNNA's balance sheet for 2019, I used the Other Intangibles of 80.6M in calculating the Tangible Book Value Per Share resulting in a negative TBVPS. If I used the Goodwill line item instead, then the TBVPS becomes positive.
I assume that since the stock is rated as Enterprising, the TBVPS is positive and that the Goodwill line item was used.
My question -- should the Other Intangibles been used instead?
Numbers from the balance sheet:
Shareholder Equity: 75.5M
Other Intangible Assets: 80.6
Total Shares: 7.92M
TBVPS = (SE - Intang. A)/Total Shares
I also did the calculation as:
Total Assets: 110.2M
Total Liabilities: 34.7M
TBVPS = (TA - Intang.A - TL)/Total Shares
Secondary question -- which is the more appropriate calculation of TBVPS?