Return on Equity and Book Value

CFA Level I Equities
#1

I know i’ve seen questions somewhere, but can’t locate them now.

ROE = DUPONT FORMULA, which is basically Net Income / Equity.

Isn’t Equity, just Book Value? Im trying to figure out exactly what book value is, and how it could be presented.

THANKS!

#2

Usually, book value excludes the value of intangible assets. For a company with only tangible assets, book value and equity are the same.