One of the latest developments in quantitative ultrasound (QUS) is the measurement of the speed of sound (SOS) of cortical bone of the midtibia. To determine the diagnostic validity of this method we measured 150 healthy women aged 22–94 years. Additionally, we report on first results of patients with hip fracture. Precisionin vivo of the tibial QUS expressed as the percentage coefficient of variation (CV) was 0.39% for the first day and 0.45% after repositioning the second day (mean CV=0.42%). No significant dependency of tibial SOS was found with weight, height, and body mass index in pre- and postmenopausal women. There was a significant decline of SOS with age in postmenopausal women (SOS=4225–5.3 age, r=−0.46,P<0.001), whereas premenopausal women showed no decline (SOS=3906+1.3 age, r=0.13, ns) Mean SOS values of premenopausal women were significantly higher than those of postmenopausal women (3960±78.7 m/second and 3898±120 m/second, respectively,P<0.001). Postmenopausal women on estrogen substitution had significantly higher mean tibial SOS values than age-comparable postmenopausal women without estrogen substitution (3980±99 m/second and 3869±100 m/second, respectively,P<0.001). Significant difference between age-matched healthy women, n=11, and hip fracture patients, n=13, expressed as z-score of −1.4 SD was found. In conclusion, tibial QUS declines with age and detects higher values in premenopausal women and postmenopausal women on estrogen substitution and lower values in hip fracture patients. Further prospective studies are needed to clarify its role in fracture risk assessment.