total equity/# of shares outstanding

book value per share is total stockholders equity divided by total number of shares of preferred stock and common stock.

Stock repurchases increases the debt equity ratio towards higher debt. Share buyback reduces the book value per share and reduces equity hence increasing the debt-to-equity ratio.

Shareholders funds (also known as Equity) represent the book value of the company.

For example, if a company has assets of $10MM and liabilities of $6MM, the book value of the company is $10MM - $6MM = $4MM.

Book value per share is computed by dividing the book value of the company by the number of outstanding shares.

For example, if the number of outstanding shares is 400,000, the book value per share is $10.

market/book ratio (M/B)