It also doesn't take into account the distribution of body fat on your physical frame, and we now know that excess visceral fat—the fat that accumulates around your internal organs—is far more hazardous to your health than subcutaneous fat (the more noticeable fat found just under your skin).
The danger of visceral fat is related to the release of proteins and hormones that can cause inflammation, which in turn can damage arteries and enter your liver, and affect how your body breaks down sugars and fats. While this seems like a reasonable enough measuring tool, I still prefer using waist-to-hip ratio, as this will give you a better idea of the distribution of fat on your body.