Equity Value Quotes

In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.

In market valuation, Yahoo is worth about as much Walt Disney and the News Corporation combined.

If the goal is to build companies that maximize long-term equity value, then optimizing corporate performance in a way that Wall Street appreciates is obviously critical to that goal.

It's our contention that equity may be in the money, depending on where the liabilities lie.

If you want to make short-term profits from the stock price, then I am a very bad president. But I don't think I'm so bad for maximizing the long-term value of Nintendo.

If a business does well, the stock eventually follows.

A lot of share-buying, not bargain-seeking, is designed to prop stock prices up. Thirty to 40 years ago, it was very profitable to look at companies that were aggressively buying their own shares. They were motivated simply to buy below what it was worth.

But the minute we went public on the stock market, which is how our wealth was created, it was no longer how many people you employed, it was how much you were worth and how much your company was worth.

Too many entrepreneurs think their valuation is the real economic price of their company. It's not. It's not a real economic price unless you are selling 100%.

It's very hard for individual inventors to get paid. For the same reason that private equity is valuable - broadly, that's a good thing - in the case of patents, many that own them aren't in a good position to take the next step.

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

Many significant stock-price inefficiencies can occur when a company is spun off.

When Bill Morgan and I formed Kinder Morgan in February of 1997, it had about $300 million in enterprise value.

The most critical factor subduing the demand for housing is that home ownership is no longer seen as the great, long-term buildup in equity value it once was.

Equity capital is expensive. Every time you do a raise, you dilute.

If a company's stock is undervalued - as many managers believe theirs is - a repurchase may offer the best payoff of all.