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.
Piedmont Natural Gas Co Tangible Book per Share Historical Data
The historical data trend for Piedmont Natural Gas Co's Tangible Book per Share can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
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Piedmont Natural Gas Co Tangible Book per Share Chart
Competitive Comparison of Piedmont Natural Gas Co's Tangible Book per Share
For the Utilities - Regulated Gas subindustry, Piedmont Natural Gas Co's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Piedmont Natural Gas Co's Price-to-Tangible-Book Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Piedmont Natural Gas Co's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Piedmont Natural Gas Co's Price-to-Tangible-Book falls into.
Piedmont Natural Gas Co Tangible Book per Share Calculation
Piedmont Natural Gas Co's Tangible Book Value Per Share for the fiscal year that ended in Oct. 2015 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange 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.
Piedmont Natural Gas Co (NYSE:PNY) Tangible Book per Share Explanation
Usually a company's book value and Tangible Book 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.
Piedmont Natural Gas Co Tangible Book per Share Related Terms
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Piedmont Natural Gas Co (Piedmont Natural Gas Co) Business Description
Piedmont Natural Gas Co Inc was incorporated in New York in 1950 and began operations in 1951. In 1994, it merged into a newly formed North Carolina corporation with the same name for the purpose of changing its state of incorporation to North Carolina. The Company is an energy services company whose business is distribution of natural gas to residential, commercial, industrial and power generation clients in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are its wholesale customers. The Company is invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage and regulated intrastate natural gas transportation. It provides service from resource centers in Anderson, Greenville and Spartanburg in South Carolina and Charlotte, Salisbury, Greensboro, Winston-Salem, High Point, Burlington, Hickory, Indian Trail, Spruce Pine, Reidsville, Fayetteville, New Bern, Wilmington, Tarboro, Elizabeth City, Rockingham and Goldsboro in North Carolina. In North Carolina, it also provides natural gas service to Greenville, Rocky Mount and Wilson. In Tennessee, its service area is the metropolitan area of Nashville, including wholesale natural gas service to Gallatin and Smyrna. The Company has three reportable business segments, regulated utility, regulated non-utility activities and unregulated non-utility activities. The regulated utility segment includes operating a safe and reliable natural gas distribution system and the ability to recover the costs and expenses of the business in the rates charged to customers. The regulated non-utility activities segment consists of equity method investments in regulated energy-related joint ventures that are held by the Company's wholly-owned subsidiaries. The unregulated non-utility activities segment consists of its equity method investment in an unregulated energy-related joint venture that is held by a wholly-owned subsidiary. The regulated utility competes with other energy products, such as electricity and propane, in the residential and commercial customer markets. Natural gas for power generation competes with other fuel sources for the generation of electricity, including coal, nuclear and renewable resources. Additionally, as with industrial customers, the Company competes with other pipeline providers to serve the power generation plants.
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