[AceHigh]

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P/EBV is still a good starting point for judging how fairly valued a stock is. If that ratio is exactly 1, that means the company could completely liquidate and give shareholders the exact value of their stock holdings

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I understand what you are trying to do, but it doesn't work. Capital is useless if it can't be used to create earnings. Often the very assets that you are selling are unlikely to be desired by others. If Walmart builds a megastore in Alaska and discovers that there aren't enough sales in Alaska to make money, is it likely that someone else can buy that store and make money? Probably not, and then your asset becomes a liability.

Capital that your company can't turn into earnings, probably won't be very useful for other companies to turn into earnings either. Unless you have bad management, and then you are in big trouble too.



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BUD's ROIC is a very healthy 14.5% or so, making their economic profit margin over 8%.

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I don't just want health, I want growth. I want my stock price to grow, and the quickest way for that is for my earnings to grow.