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class="contain mt-2"><div class="wrsb"><div> <article class="terms text-page"><nav class="mb-1 flex" aria-label="Breadcrumb"><ol class="flex list-none space-x-2 text-sm font-semibold text-muted sm:text-base"><li data-svelte-h="svelte-1t5fw97"><a class="text-muted hover:text-light" href="/">Home</a></li> <li class="flex items-center" data-svelte-h="svelte-u0qv1g">禄 <a href="/term/" class="ml-2 text-muted hover:text-light">Terms</a></li> <li class="flex items-center">禄 <span class="ml-2">Market-to-Book Ratio</span></li></ol></nav> <header class="article-header"><h1>Market-to-Book Ratio</h1> <div class="byline"><div><img src="https://api.stockanalysis.com/api/assets/cms/9e4283e6-0cd3-4b7c-8dcb-fb6142436562/kris-gunnars.jpg" alt="Author"> <span>Written by <a href="/contributor/kris-gunnars/">Kris Gunnars, BSc</a></span></div> <div><img src="https://api.stockanalysis.com/api/assets/cms/08205323-479c-45d5-a2f0-e89a8819d301/andrew-almeida.jpeg" alt="Reviewer"> <span>Reviewed by <a href="/contributor/andrew-almeida/">Andrew Almeida, CFA</a></span></div> <div>Updated Jan 17, 2023</div></div></header> <div class="content"><nav class="quick-nav"> <ul> <li><a href="#definition">Definition</a></li> <li><a href="#formula">Formula</a></li> <li><a href="#example">Example</a></li> <li><a href="#uses">How to Use</a></li> <li><a href="#faq">FAQ</a></li> <li><a href="#takeaway">Takeaway</a></li> </ul> </nav> <p>The market-to-book ratio is a valuation metric used to compare the market value of a stock to its book value.</p> <p>It's calculated by dividing a company's market cap by its book value, like so:</p> <p class="formula">Market-to-book ratio = market capitalization / book value</p> <p>Investors can use the market-to-book ratio to determine whether a stock is over or undervalued. A high ratio indicates overvaluation, while a low ratio indicates undervaluation.</p> <p>The market-to-book ratio is also called the price-to-book (P/B) ratio.</p> <p>Below is an overview, including how to use the market-to-book ratio when evaluating stocks.</p> <h2 id="definition">What is the market-to-book ratio?</h2> <img src="https://img.stockanalysis.com/f08454db-499b-42e5-8ebb-9681f1dfefa3.jpg" width="1200" height="630" alt="Market to book ratio definition and formula" /> <p>The market-to-book ratio is a metric that assesses whether a stock is over or undervalued.</p> <p>It's calculated by dividing the market cap by the book value, showing you how the market value compares to the value as listed on financial documents.</p> <p>Here's more about those terms:</p> <ul> <li><strong>Market cap:</strong> Short for <a href="/term/market-capitalization/">market capitalization</a>, this is the value of a company's shares of stock. It's determined by multiplying the stock price by the number of shares outstanding.</li> <li><strong>Book value: </strong>This is the net value of a company's assets, or book equity value. It's determined by subtracting liabilities from assets, resulting in the theoretical amount of money left if all the assets were sold and all the liabilities were paid.</li> </ul> <p>A high market-to-book ratio indicates that a stock is expensive, or overvalued, while a low ratio indicates that it is cheap, or undervalued.</p> <p>So-called value stocks often have a low market-to-book ratio, which indicates that you can buy the stock for a low price relative to the value of its assets.</p> <blockquote class="summary"><strong>Summary</strong> <p>The market-to-book ratio is a valuation metric used to assess whether shares of stock are over or undervalued. It does so by comparing a company's market value to its book price.</p> </blockquote> <h2 id="formula">How to calculate the market-to-book ratio</h2> <p>The market-to-book ratio is calculated by dividing a company's market cap by its book value:</p> <p class="formula">Market-to-book ratio = market capitalization / book value</p> <p>You can either calculate this manually or use sites like <a href="https://stockanalysis.com/">Stock Analysis</a>. Either way, it's helpful to understand how the components of the market-to-book ratio are calculated.</p> <p>To calculate market cap, simply multiply the stock price by the number of <a href="/term/shares-outstanding/">shares outstanding</a>:</p> <p class="formula">Market cap = stock price x total shares outstanding</p> <p>The simplest way to calculate book value is by subtracting all liabilities from all assets, like so:</p> <p class="formula">Book value = total assets - total liabilities</p> <p>You can find total assets and liabilities listed on a company's <a href="/term/balance-sheet/">balance sheet</a>. The book value may also be shown on the balance sheet, under shareholders' equity.</p> <p>It's worth noting that some sources use slightly different formulas to calculate book value.</p> <p>Additionally, you can also calculate the market-to-book ratio by dividing the stock price by the book value per share.</p> <p class="formula">Market-to-book ratio = stock price / book value per share</p> <blockquote class="summary"><strong>Summary</strong> <p>The market-to-book ratio is a simple calculation that divides market cap by book value. You can either calculate it yourself using balance sheet inputs or use financial data websites.</p> </blockquote> <h2 id="example">Example market-to-book ratio calculation</h2> <p>Let's calculate the market-to-book ratio for a real company.</p> <p>At the beginning of 2022, Tesla (<a href="/stocks/tsla/">TSLA</a>) stock was trading for $120.94 per share, with a market cap of USD $406 billion.</p> <p>For 2021, the company's balance sheet listed its total assets, in millions, at $62,131, and its total liabilities at $30,548.</p> <img class="add-border" src="https://img.stockanalysis.com/f23a00b1-768d-4bf0-b4de-fbd99b876b1a.jpg" width="870" height="374" loading="lazy" alt="Tesla stock page header" /> <img class="add-border" src="https://img.stockanalysis.com/7fd1c26b-deae-4569-b4b4-66985c093189.jpg" width="874" height="407" loading="lazy" alt="Tesla assets and liabilities" /> <p><em>Source: </em><a href="/stocks/tsla/financials/balance-sheet/"><em>Tesla's Balance Sheet</em></a></p> <p>The market-to-book ratio can then be calculated in two steps:</p> <p class="formula">Book value: $62,131 - $30,548 = $31,583 (in millions)</p> <p class="formula">Market-to-book ratio: 406,000 / 31,583 = 12.85</p> <p>In other words, you are paying $12.85 dollars for each dollar of net assets.</p> <blockquote class="summary"><strong>Summary</strong> <p>Tesla's market-to-book ratio in early 2022 was 12.85, meaning you'd pay $12.85 for each dollar of net assets. This shows you the price of the stock relative to the book price.</p> </blockquote> <h2 id="uses">How to use the market-to-book ratio</h2> <p>The market-to-book ratio, or price-to-book ratio, is one of the most commonly used ratios to determine whether a company's stock is under or overvalued.</p> <p>At a high level, a ratio below one may indicate that a stock is very cheap, while a high ratio, such as over three, may suggest that it is expensive.</p> <p>However, these can be arbitrary numbers, as a company's type, age, and other factors can affect the ratio. For this reason, it's best to compare one company's ratio to that of a peer in the same industry and same stage of growth.</p> <p>Moreover, when companies are trading for less than their book value, there's usually a reason. Likewise, companies with a high market-to-book ratio may be expensive for a reason — for example, they could be expected to make a lot of profits in the future.</p> <p>This is why it's important to also evaluate other metrics and to form a well-rounded view of the company before forming any opinions about it.</p> <p>Additionally, the market-to-book ratio is not a good way to value all types of businesses, as some types of companies don't need a lot of physical assets to make money.</p> <p>For example, many information technology stocks have a high market-to-book ratio. However, they can still be immensely profitable and seem cheap according to other metrics, such as the <a href="/term/pe-ratio/">PE ratio</a>.</p> <blockquote class="summary"><strong>Summary</strong> <p>The market-to-book ratio is a quick way to tell whether a company's stock is over or undervalued. However, it's wise to also examine other metrics before forming an opinion and to compare a company's market-to-book ratio to that of its peers.</p> </blockquote> <h2 id="faq">Frequently asked questions</h2> <p>Below are a few additional questions about the market-to-book ratio.</p> <h3>What does a negative market-to-book ratio mean?</h3> <p>The market-to-book ratio can become negative if the company's total liabilities are greater than its assets, meaning that it owes more than it owns.</p> <p>This can be a bad sign in some cases and should be investigated further.</p> <h3>What is a good market-to-book ratio?</h3> <p>As a rule of thumb, a market-to-book ratio below one indicates the stock may be undervalued, while a ratio above three may suggest that it is expensive.</p> <p>However, these targets are mostly arbitrary and are not relevant for all companies. As noted above, the company type, age, growth, and other factors also play a role.</p> <p>Therefore, the market-to-book ratio should never be the only metric you consider.</p> <h3>What is the book-to-market ratio?</h3> <p>The book-to-market ratio is also a valuation metric used to see how a company's market value compares to its book value. In fact, the book-to-market ratio is just the inverse of the market-to-book ratio.</p> <p>Here's the formula:</p> <p class="formula">Book-to-market ratio = common shareholders' equity / market cap</p> <h2 id="takeaway">The takeaway</h2> <p>The market-to-book ratio, also known as the price-to-book (P/B) ratio, is one of the most commonly used financial ratios.</p> <p>This valuation metric compares a stock's market value to its book value, which is the value of its assets minus its liabilities.</p> <p>It's a simple way to assess whether a stock is over or undervalued, as a value below one can indicate that a stock is undervalued, while a high value can indicate the stock is overvalued.</p> <p>What's more, the market-to-book ratio is incredibly simple and straightforward to calculate.</p> <p>However, it's important to consider the larger context when analyzing the market-to-book ratio, digging deeper into a company's performance before making any investment decisions.</p></div></article> <div><div class="flex items-center border-b border-default px-1 pb-3 pt-2 md:p-4"><div><img src="https://api.stockanalysis.com/api/assets/cms/9e4283e6-0cd3-4b7c-8dcb-fb6142436562/kris-gunnars.jpg" alt="Author" class="mr-5 h-20 w-20 rounded-full object-cover object-top md:h-24 md:w-24" loading="lazy"></div> <div><div class="text-sm font-semibold text-muted md:mb-0.5 md:text-base" data-svelte-h="svelte-1pj4ll3">Written by</div> <div class="text-base font-semibold md:text-xl"><a href="/contributor/kris-gunnars/" class="text-default hover:text-blue-brand_sharp dark:hover:text-default dark:hover:underline">Kris Gunnars, BSc</a></div> <div class="text-sm text-faded md:mt-1 md:text-base">Founder and CEO</div></div> <div class="ml-auto mr-4 hidden md:block"><a href="/contributor/kris-gunnars/" class="button">More from Kris</a></div></div> <div class="flex flex-col divide-y divide-default md:flex-row md:divide-x md:divide-y-0 md:pt-2"><div class="flex items-center p-3 md:w-[50%]"><div><img 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class="text-sm font-semibold md:text-base"><a href="/contributor/andrew-almeida/" class="text-default hover:text-blue-brand_sharp dark:hover:text-default dark:hover:underline">Andrew Almeida, CFA</a></div> <div class="mt-px text-xs text-light md:text-sm">Chartered Financial Analyst and Investment Advisor</div></div></div></div></div> <div class="mb-10 mt-7"><h4 class="mb-3.5 text-2xl font-semibold">Related Terms</h4> <div class="flex flex-col gap-y-8 md:grid md:grid-cols-3 md:gap-x-5 md:gap-y-0"><div class="overflow-hidden rounded border border-gray-100 shadow-lg hover:shadow-xl dark:border-dark-700 dark:bg-dark-775 dark:hover:bg-dark-700"><a href="/term/market-capitalization/"><img src="https://stockanalysis.directus.app/assets/61f4d6aa-9fc2-42a3-9e8a-147557ab3a7d/market-capitalization-formula.png" alt="Market Capitalization Formula" class="aspect-video" loading="lazy"> <div class="h-fill border-t border-gray-100 p-4 pt-3.5 text-xl font-semibold text-default dark:border-dark-700 md:text-lg">Market Capitalization (Market Cap): Definition and Formula </div></a> </div><div class="overflow-hidden rounded border border-gray-100 shadow-lg hover:shadow-xl dark:border-dark-700 dark:bg-dark-775 dark:hover:bg-dark-700"><a href="/term/balance-sheet/"><img src="https://stockanalysis.directus.app/assets/3f865fef-4238-4134-a2bb-0715c2b32ef7/balance-sheet-definition.jpg" alt="Balance Sheet Definition" class="aspect-video" loading="lazy"> <div class="h-fill border-t border-gray-100 p-4 pt-3.5 text-xl font-semibold text-default dark:border-dark-700 md:text-lg">Balance Sheet </div></a> </div><div class="overflow-hidden rounded border border-gray-100 shadow-lg hover:shadow-xl dark:border-dark-700 dark:bg-dark-775 dark:hover:bg-dark-700"><a href="/term/pe-ratio/"><img src="https://stockanalysis.directus.app/assets/a8402fed-f989-4d7e-bb58-3cc7ec477c1e/pe-price-to-earnings-ratio.png" alt="Pe Price to Earnings Ratio" class="aspect-video" loading="lazy"> <div class="h-fill border-t 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All rights reserved.</p></div> </div></footer> <script> { __sveltekit_gp3zjk = { base: new URL("../..", location).pathname.slice(0, -1) }; const element = document.currentScript.parentElement; const data = [{"type":"data","data":{session:void 0,cookies:[],loc:{co:"SG"},theme:void 0,hideNewsSources:[],ab:{}},"uses":{},"slash":"always"},null,{"type":"data","data":{slug:"market-to-book-ratio",name:"Market-to-Book Ratio",title:"Market-to-Book Ratio: Formula and Example",heading:"Market-to-Book Ratio",description:"The market-to-book ratio is a metric that compares the price of a stock to its book value. It tells you the price the market is putting on the company's assets.",content:"\u003Cnav class=\"quick-nav\">\n\u003Cul>\n\u003Cli>\u003Ca href=\"#definition\">Definition\u003C/a>\u003C/li>\n\u003Cli>\u003Ca href=\"#formula\">Formula\u003C/a>\u003C/li>\n\u003Cli>\u003Ca href=\"#example\">Example\u003C/a>\u003C/li>\n\u003Cli>\u003Ca href=\"#uses\">How to Use\u003C/a>\u003C/li>\n\u003Cli>\u003Ca href=\"#faq\">FAQ\u003C/a>\u003C/li>\n\u003Cli>\u003Ca href=\"#takeaway\">Takeaway\u003C/a>\u003C/li>\n\u003C/ul>\n\u003C/nav>\n\u003Cp>The market-to-book ratio is a valuation metric used to compare the market value of a stock to its book value.\u003C/p>\n\u003Cp>It's calculated by dividing a company's market cap by its book value, like so:\u003C/p>\n\u003Cp class=\"formula\">Market-to-book ratio = market capitalization / book value\u003C/p>\n\u003Cp>Investors can use the market-to-book ratio to determine whether a stock is over or undervalued. A high ratio indicates overvaluation, while a low ratio indicates undervaluation.\u003C/p>\n\u003Cp>The market-to-book ratio is also called the price-to-book (P/B) ratio.\u003C/p>\n\u003Cp>Below is an overview, including how to use the market-to-book ratio when evaluating stocks.\u003C/p>\n\u003Ch2 id=\"definition\">What is the market-to-book ratio?\u003C/h2>\n\u003Cimg src=\"https://img.stockanalysis.com/f08454db-499b-42e5-8ebb-9681f1dfefa3.jpg\" width=\"1200\" height=\"630\" alt=\"Market to book ratio definition and formula\" />\n\u003Cp>The market-to-book ratio is a metric that assesses whether a stock is over or undervalued.\u003C/p>\n\u003Cp>It's calculated by dividing the market cap by the book value, showing you how the market value compares to the value as listed on financial documents.\u003C/p>\n\u003Cp>Here's more about those terms:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cstrong>Market cap:\u003C/strong> Short for \u003Ca href=\"/term/market-capitalization/\">market capitalization\u003C/a>, this is the value of a company's shares of stock. It's determined by multiplying the stock price by the number of shares outstanding.\u003C/li>\n\u003Cli>\u003Cstrong>Book value: \u003C/strong>This is the net value of a company's assets, or book equity value. It's determined by subtracting liabilities from assets, resulting in the theoretical amount of money left if all the assets were sold and all the liabilities were paid.\u003C/li>\n\u003C/ul>\n\u003Cp>A high market-to-book ratio indicates that a stock is expensive, or overvalued, while a low ratio indicates that it is cheap, or undervalued.\u003C/p>\n\u003Cp>So-called value stocks often have a low market-to-book ratio, which indicates that you can buy the stock for a low price relative to the value of its assets.\u003C/p>\n\u003Cblockquote class=\"summary\">\u003Cstrong>Summary\u003C/strong>\n\u003Cp>The market-to-book ratio is a valuation metric used to assess whether shares of stock are over or undervalued. It does so by comparing a company's market value to its book price.\u003C/p>\n\u003C/blockquote>\n\u003Ch2 id=\"formula\">How to calculate the market-to-book ratio\u003C/h2>\n\u003Cp>The market-to-book ratio is calculated by dividing a company's market cap by its book value:\u003C/p>\n\u003Cp class=\"formula\">Market-to-book ratio = market capitalization / book value\u003C/p>\n\u003Cp>You can either calculate this manually or use sites like \u003Ca href=\"https://stockanalysis.com/\">Stock Analysis\u003C/a>. Either way, it's helpful to understand how the components of the market-to-book ratio are calculated.\u003C/p>\n\u003Cp>To calculate market cap, simply multiply the stock price by the number of \u003Ca href=\"/term/shares-outstanding/\">shares outstanding\u003C/a>:\u003C/p>\n\u003Cp class=\"formula\">Market cap = stock price x total shares outstanding\u003C/p>\n\u003Cp>The simplest way to calculate book value is by subtracting all liabilities from all assets, like so:\u003C/p>\n\u003Cp class=\"formula\">Book value = total assets - total liabilities\u003C/p>\n\u003Cp>You can find total assets and liabilities listed on a company's \u003Ca href=\"/term/balance-sheet/\">balance sheet\u003C/a>. The book value may also be shown on the balance sheet, under shareholders' equity.\u003C/p>\n\u003Cp>It's worth noting that some sources use slightly different formulas to calculate book value.\u003C/p>\n\u003Cp>Additionally, you can also calculate the market-to-book ratio by dividing the stock price by the book value per share.\u003C/p>\n\u003Cp class=\"formula\">Market-to-book ratio = stock price / book value per share\u003C/p>\n\u003Cblockquote class=\"summary\">\u003Cstrong>Summary\u003C/strong>\n\u003Cp>The market-to-book ratio is a simple calculation that divides market cap by book value. You can either calculate it yourself using balance sheet inputs or use financial data websites.\u003C/p>\n\u003C/blockquote>\n\u003Ch2 id=\"example\">Example market-to-book ratio calculation\u003C/h2>\n\u003Cp>Let's calculate the market-to-book ratio for a real company.\u003C/p>\n\u003Cp>At the beginning of 2022, Tesla (\u003Ca href=\"/stocks/tsla/\">TSLA\u003C/a>) stock was trading for $120.94 per share, with a market cap of USD $406 billion.\u003C/p>\n\u003Cp>For 2021, the company's balance sheet listed its total assets, in millions, at $62,131, and its total liabilities at $30,548.\u003C/p>\n\u003Cimg class=\"add-border\" src=\"https://img.stockanalysis.com/f23a00b1-768d-4bf0-b4de-fbd99b876b1a.jpg\" width=\"870\" height=\"374\" loading=\"lazy\" alt=\"Tesla stock page header\" />\n\u003Cimg class=\"add-border\" src=\"https://img.stockanalysis.com/7fd1c26b-deae-4569-b4b4-66985c093189.jpg\" width=\"874\" height=\"407\" loading=\"lazy\" alt=\"Tesla assets and liabilities\" />\n\u003Cp>\u003Cem>Source: \u003C/em>\u003Ca href=\"/stocks/tsla/financials/balance-sheet/\">\u003Cem>Tesla's Balance Sheet\u003C/em>\u003C/a>\u003C/p>\n\u003Cp>The market-to-book ratio can then be calculated in two steps:\u003C/p>\n\u003Cp class=\"formula\">Book value: $62,131 - $30,548 = $31,583 (in millions)\u003C/p>\n\u003Cp class=\"formula\">Market-to-book ratio: 406,000 / 31,583 = 12.85\u003C/p>\n\u003Cp>In other words, you are paying $12.85 dollars for each dollar of net assets.\u003C/p>\n\u003Cblockquote class=\"summary\">\u003Cstrong>Summary\u003C/strong>\n\u003Cp>Tesla's market-to-book ratio in early 2022 was 12.85, meaning you'd pay $12.85 for each dollar of net assets. This shows you the price of the stock relative to the book price.\u003C/p>\n\u003C/blockquote>\n\u003Ch2 id=\"uses\">How to use the market-to-book ratio\u003C/h2>\n\u003Cp>The market-to-book ratio, or price-to-book ratio, is one of the most commonly used ratios to determine whether a company's stock is under or overvalued.\u003C/p>\n\u003Cp>At a high level, a ratio below one may indicate that a stock is very cheap, while a high ratio, such as over three, may suggest that it is expensive.\u003C/p>\n\u003Cp>However, these can be arbitrary numbers, as a company's type, age, and other factors can affect the ratio. For this reason, it's best to compare one company's ratio to that of a peer in the same industry and same stage of growth.\u003C/p>\n\u003Cp>Moreover, when companies are trading for less than their book value, there's usually a reason. Likewise, companies with a high market-to-book ratio may be expensive for a reason — for example, they could be expected to make a lot of profits in the future.\u003C/p>\n\u003Cp>This is why it's important to also evaluate other metrics and to form a well-rounded view of the company before forming any opinions about it.\u003C/p>\n\u003Cp>Additionally, the market-to-book ratio is not a good way to value all types of businesses, as some types of companies don't need a lot of physical assets to make money.\u003C/p>\n\u003Cp>For example, many information technology stocks have a high market-to-book ratio. However, they can still be immensely profitable and seem cheap according to other metrics, such as the \u003Ca href=\"/term/pe-ratio/\">PE ratio\u003C/a>.\u003C/p>\n\u003Cblockquote class=\"summary\">\u003Cstrong>Summary\u003C/strong>\n\u003Cp>The market-to-book ratio is a quick way to tell whether a company's stock is over or undervalued. However, it's wise to also examine other metrics before forming an opinion and to compare a company's market-to-book ratio to that of its peers.\u003C/p>\n\u003C/blockquote>\n\u003Ch2 id=\"faq\">Frequently asked questions\u003C/h2>\n\u003Cp>Below are a few additional questions about the market-to-book ratio.\u003C/p>\n\u003Ch3>What does a negative market-to-book ratio mean?\u003C/h3>\n\u003Cp>The market-to-book ratio can become negative if the company's total liabilities are greater than its assets, meaning that it owes more than it owns.\u003C/p>\n\u003Cp>This can be a bad sign in some cases and should be investigated further.\u003C/p>\n\u003Ch3>What is a good market-to-book ratio?\u003C/h3>\n\u003Cp>As a rule of thumb, a market-to-book ratio below one indicates the stock may be undervalued, while a ratio above three may suggest that it is expensive.\u003C/p>\n\u003Cp>However, these targets are mostly arbitrary and are not relevant for all companies. As noted above, the company type, age, growth, and other factors also play a role.\u003C/p>\n\u003Cp>Therefore, the market-to-book ratio should never be the only metric you consider.\u003C/p>\n\u003Ch3>What is the book-to-market ratio?\u003C/h3>\n\u003Cp>The book-to-market ratio is also a valuation metric used to see how a company's market value compares to its book value. In fact, the book-to-market ratio is just the inverse of the market-to-book ratio.\u003C/p>\n\u003Cp>Here's the formula:\u003C/p>\n\u003Cp class=\"formula\">Book-to-market ratio = common shareholders' equity / market cap\u003C/p>\n\u003Ch2 id=\"takeaway\">The takeaway\u003C/h2>\n\u003Cp>The market-to-book ratio, also known as the price-to-book (P/B) ratio, is one of the most commonly used financial ratios.\u003C/p>\n\u003Cp>This valuation metric compares a stock's market value to its book value, which is the value of its assets minus its liabilities.\u003C/p>\n\u003Cp>It's a simple way to assess whether a stock is over or undervalued, as a value below one can indicate that a stock is undervalued, while a high value can indicate the stock is overvalued.\u003C/p>\n\u003Cp>What's more, the market-to-book ratio is incredibly simple and straightforward to calculate.\u003C/p>\n\u003Cp>However, it's important to consider the larger context when analyzing the market-to-book ratio, digging deeper into a company's performance before making any investment decisions.\u003C/p>",published_date:"2023-01-17T12:00:00",updated_date:"2023-01-17T12:00:00",image:{id:"c651ed26-ddb2-4aca-a53f-52a41834f5ed",filename_download:"market-to-book-ratio.png"},author:{name:"Kris Gunnars, BSc",slug:"kris-gunnars",title:"Founder and CEO",bio_short:"Founder and CEO",image:{id:"9e4283e6-0cd3-4b7c-8dcb-fb6142436562",filename_download:"kris-gunnars.jpg",title:"Kris Gunnars"}},reviewer:{name:"Andrew Almeida, CFA",slug:"andrew-almeida",title:"Chartered Financial Analyst and Investment Advisor",image:{id:"08205323-479c-45d5-a2f0-e89a8819d301",filename_download:"andrew-almeida.jpeg",title:"Andrew Almeida"}},editor:{name:"Aubrey Wood, MTPC",slug:"aubrey-wood",title:"Head of Content at Stock Analysis",image:{id:"aa5bcb8a-3d61-4c87-975b-148972c913b6",filename_download:"aubrey-ann-wood.jpeg",title:"Aubrey Ann Wood"}},related:[{slug:"market-capitalization",title:"Market Capitalization (Market Cap): Definition and Formula",heading:"Market Capitalization (Market Cap): Definition and Formula",published_date:null,updated_date:null,image:{id:"61f4d6aa-9fc2-42a3-9e8a-147557ab3a7d",filename_download:"market-capitalization-formula.png",title:"Market Capitalization Formula"}},{slug:"balance-sheet",title:"What Is a Balance Sheet? Definition and Examples",heading:"Balance Sheet",published_date:null,updated_date:null,image:{id:"3f865fef-4238-4134-a2bb-0715c2b32ef7",filename_download:"balance-sheet-definition.jpg",title:"Balance Sheet Definition"}},{slug:"pe-ratio",title:"PE Ratio (Price-to-Earnings): Definition, Formula, and More",heading:"Price-to-Earnings Ratio (PE Ratio)",published_date:null,updated_date:null,image:{id:"a8402fed-f989-4d7e-bb58-3cc7ec477c1e",filename_download:"pe-price-to-earnings-ratio.png",title:"Pe Price to Earnings Ratio"}}]},"uses":{"params":["slug"]}}]; Promise.all([ import("../../_app/immutable/entry/start.DDiNW2hx.js"), import("../../_app/immutable/entry/app.D6rHiYFm.js") ]).then(([kit, app]) => { kit.start(app, element, { node_ids: [0, 15, 140], data, form: null, error: null }); }); } </script> </div> </body> </html>