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Basically, Price to book is the market price of the stock, (e.g., $3.65 for Citi (C) divided by book value, (net equity on the B/s), divided by shares outstanding If net equity is 10 mil and shares outstanding is 5 million, book value per share is $2.00 (10MM/5MM) so P/b is 3.65/2.00 or 1.82 I think this concept is in the equity section. Let me know if this helps.

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