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pashok25 [27]
3 years ago
11

​(Market value​ analysis) Lei​ Materials' balance sheet lists total assets of $ 1.37 ​billion, $ 186 million in current​ liabili

ties, $ 414 million in​ long-term debt, $ 770 million in common​ equity, and 57 million shares of common stock. If​ Lei's current stock price is $ 46.55​, what is the​ firm's market-to-book​ ratio?
Business
1 answer:
Alja [10]3 years ago
4 0

Answer:

Market-to-book​ ratio=3.44591 times

Explanation:

Give data:

Total assets=$1.37 billion

Current liabilities=$186 m

Long term debt=$414 m

Common Equity=$770 m

Number of share  of common stock= 57 m

Current stock price=$46.55

Required:

the​ firm's market-to-book​ ratio=?

Solution:

We will calculate the book value of each share:

Book value per share=\frac{common\​ equity}{Number\ of\ common\ shares}

Book value per share=\frac{\$770 m}{57 m}

Book value per share=$13.50877

Market-to-book​ ratio=\frac{Market\ value}{Book\ value}

Market-to-book​ ratio=\frac{\$46.55}{\$13.50877}

Market-to-book​ ratio=3.44591 times

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