The value of an entity’s tangible assets (that is, assets net off intangible assets) divided by its current outstanding shares. This per-share value is calculated as follows:

Tangible book value per share= total tangible equity/ total shares outstanding 

This measure determines the potential value per share of an entity in the event that it sets on a liquidation of its assets (tangible assets). In this sense, it reflects that portion of tangible assets on an entity’s balance sheet that is attributable to a share of common stock.

It is the accounting value of tangible assets ( i.e. physical assets such as buildings, land, machinery, equipment, and inventory) divided by the number of outstanding shares, so that  investors and shareholders can have an idea about the proportion of the value per share that is notionally covered if all tangible assets were sold at current market prices.

It is termed for short TBVPS.