Acuity Brands (AYI)

77.34 -0.19  -0.25%  May 20, 3:12PM

Acuity Brands Tangible Common Equity Ratio

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Acuity Brands Historical Tangible Common Equity Ratio Data

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Feb. 28, 2013 Go Pro
Nov. 30, 2012 Go Pro
Aug. 31, 2012 Go Pro
May 31, 2012 Go Pro
Feb. 29, 2012 Go Pro
Nov. 30, 2011 Go Pro
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Feb. 28, 2011 Go Pro
Nov. 30, 2010 Go Pro
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Feb. 28, 2010 Go Pro
Nov. 30, 2009 Go Pro
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May 31, 2009 Go Pro
Feb. 28, 2009 Go Pro
Nov. 30, 2008 Go Pro
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Feb. 29, 2008 Go Pro
Nov. 30, 2007 Go Pro
Aug. 31, 2007 Go Pro

May 31, 2007 Go Pro
Feb. 28, 2007 Go Pro
Nov. 30, 2006 Go Pro
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Feb. 28, 2006 Go Pro
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May 31, 2004 Go Pro
Feb. 29, 2004 Go Pro
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Nov. 30, 2001 Go Pro

The tangible common equity (TCE) ratio is a useful number to gauge leverage of a financial firm. Specifically, it answers the question: "How much can the value of a bank's assets fall before the entire value of tangible* common equity is wiped out?"

For example, assume a bank as a TCE ratio of 5%. If the value of all of the banks assets fell by 5%, theoretically stockholders would no longer have a claim on the bank's tangible assets.

Another way of thinking about the TCE ratio of 5% is that the remaining 95% of the bank's tangible assets have been purchased using loaned funds that the bank must repay.

This ratio is worth spending time with. Once investors understand its implications, they rarely look at banking businesses the same way.

* The word tangible, in accounting, essentially means anything that can be touched or traded. Cash, buildings, accounts receivable, inventories and stock holdings of a business are all tangible assets. Trade secrets, patents, copyrights, and goodwill are not tangible assets, even though they may have value.

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AYI Tangible Common Equity Ratio Benchmarks

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Encore Wire Corporation Go Pro
Hubbell Go Pro
Revolution Lighting Technologies Go Pro

AYI Tangible Common Equity Ratio Rankings

 Overall 78th percentile 1754 of 8002 Sector 78th percentile 197 of 905 in Technology Industry 82nd percentile 13 of 75 in Electronic Components

AYI Tangible Common Equity Ratio Range, Past 5 Years

 Minimum Go Pro May 2009 Maximum Go Pro Feb 2009 Average Go Pro