Although Great-West Lifeco Inc. stock is trading at a premium of almost 40% to the book value, keep in mind the book value per share increases on an annual basis as Great-West retains a decent portion of its net income.

Source: https://seekingalpha.com/article/4577411-great-west-lifeco-the-6-percent-dividend-increase-is-welcome?source=feed_all_articles

Although Great-West Lifeco Inc. stock is trading at a premium of almost 40% to the book value, keep in mind the book value per share increases on an annual basis as Great-West retains a decent portion of its net income.

Source: https://seekingalpha.com/article/4577411-great-west-lifeco-the-6-percent-dividend-increase-is-welcome?source=feed_all_articles

And whilst STAG's tangible book value per share at $16.02 as of the end of the quarter was a $0.10 per share sequential decrease from $16.12, it was up by 3.15% over the year-ago comp.

Source: https://seekingalpha.com/article/4587128-stag-industrial-stock-high-yield-paid-monthly?source=feed_all_articles

And you're buying it at a 20% discount to tangible book value.

Source: https://seekingalpha.com/article/4598568-cashflow-hunter-on-catalyst-hedge-investing-coinbase-3m-schwab-and-ubs?source=feed_all_articles

As of the end of the most recent quarter, the book value per share of the company was $75.24.

Source: https://seekingalpha.com/article/4611781-wintrust-financial-corporation-a-sturdy-bank-that-continues-to-grow-nicely?source=feed_all_articles

As usual, I'll conclude with a summary of third quarter contributions to book value per share.

Source: https://seekingalpha.com/article/4644556-cincinnati-financial-corporation-cinf-q3-2023-earnings-call-transcript?source=feed_all_articles

At today’s prices it 17.7 times earnings, 2 times sales, 6.4 times book value, and 16.6 times operating cash flow.

Source: https://seekingalpha.com/article/4615889-dividend-hike-alert-3-top-stocks-raising-payouts?source=feed_all_articles

Balance sheet protection: The company currently has $7.27 per share of tangible book value, against a stock price of $4.2.

Source: https://seekingalpha.com/article/4572498-broadmark-realty-hit-still-opportunity?source=feed_all_articles

Capital structure arbitrage (i.e. selling assets at a premium to book value and buying back shares at a discount to book).

Source: https://seekingalpha.com/article/4582255-aercap-stock-capital-structure-arbitrage-back?source=feed_all_articles

For reference, Netflix's economic book value, or no growth value, is just $102/share.

Source: https://seekingalpha.com/article/4595618-netflix-is-still-expensive-after-q1-2023-earnings?source=feed_all_articles

Fortunately, the debt to gross book value currently is just 41.2% and even in the scenario I painted above, the debt ratio will remain just below 49%.

Source: https://seekingalpha.com/article/4610092-minto-apartment-reit-tough-times-but-discount-to-nav-makes-it-a-speculative-buy?source=feed_all_articles

Further buttressing management's performance, Bread's tangible book value increased at a CAGR of 36%, from $15.41 a share in 1Q20 to $38.44 a share in 1Q23.

Source: https://seekingalpha.com/article/4612836-bread-financial-holdings-weathering-the-storm?source=feed_all_articles

Furthermore, tangible book value per share was relatively stable at $39.

Source: https://seekingalpha.com/article/4598120-first-internet-bancorp-inbk-q1-2023-earnings-call-transcript?source=feed_all_articles

Furthermore, the selloff has increased the trust's book value discount to 23%, which I believe provides investors with an overly generous margin of safety.

Source: https://seekingalpha.com/article/4568536-ares-commercial-12-5-percent-yield-on-last-purchase?source=feed_all_articles

He mentioned three names where he thought the management was good and discounts to book value were attractive - Barings BDC (), CION Investment Corp. ().

Source: https://seekingalpha.com/article/4568542-cion-good-performance-2022-trades-below-book-value?source=feed_all_articles

If the company buys its own shares for less than its book value per share, this metric will rise.

Source: https://www.forbes.com/sites/investor-hub/2023/07/31/best-buyback-stocks/

In a more direct sense, a sharp reduction in the company's total liabilities would also increase Ebix's book value, which is a peripheral yet important aspect when assessing the company's fair value and ultimately, stock price.

Source: https://seekingalpha.com/article/4605330-ebix-inc-debt-free-means-undervalued?source=feed_all_articles

In short, the problem is not the results achieved, but especially the results expected in the my opinion, I think the strong undervaluation on a book value basis is partly offset by the disappointing ratios results.

Source: https://seekingalpha.com/article/4612146-live-oak-bancshares-doubts-about-the-future?source=feed_all_articles

Looking at Klepierre's book value region by region and comparing the implied cap rates to the market rates, the portfolio actually seems priced quite fairly, only 20bps below the market level (5.16% vs 5.40%).

Source: https://seekingalpha.com/article/4578882-klpierre-prime-european-malls-7-2-percent-dividend-yield?source=feed_all_articles

Meanwhile the tangible book value increased to $86.90 per share, an increase of $6.56 per share compared to the third quarter of 2022.

Source: https://seekingalpha.com/article/4644374-citigroup-doesnt-want-to-pay-10-percent-on-its-preferred-shares?source=feed_all_articles