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Book Value

accounting
Definition
The net asset value of a company as reported on its balance sheet: total assets minus total liabilities.

Explanation

Book value represents the theoretical liquidation value of a company. Book value per share divides this by shares outstanding. The price-to-book (P/B) ratio compares market price to book value — a P/B below 1.0 means the market values the company below its accounting net worth. However, book value has limitations: it uses historical cost (not market value), may not capture intangible assets (brand, IP), and can be distorted by accounting policies. It's most useful for asset-heavy industries like banking and real estate.

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