Now, however, our intrinsic business value considerably exceeds book value. There are two major reasons.

目前，我们的内在价值远超过帐面价值。这有两个主要原因。

youdao

Intrinsic business value is an economic concept, estimating future cash output discounted to present value.

内在商业价值是一个经济概念，估计未来的现金流输出并折现。

youdao

We prefer to buy for cash, but will consider issuing stock when we receive as much in intrinsic business value as we give.

我们倾向采现金交易，除非我们所换得的内含价值跟我们付出的一样多，否则不考虑发行股份。

youdao

This is one of the ways to estimate the intrinsic value of business based on their book value and their earnings power.

FORBES: Graham Number and Warren Buffett Portfolio

The first step in transforming IT and HR, and any other departments, from order-taking to service organizations is establishing a commitment to service and recognizing the intrinsic value your department brings to the business and to the bottom line.

FORBES: CIO-plus Series: Interview with Ameristar Casinos' SVP of IT and HR Sheleen Quish

As I wrote in my last post, my view is that there is much value that is either still unappreciated, or intrinsic in the business plans of companies that are restructuring, cutting costs, globalizing, and continuing to develop world-beating technologies.

FORBES: Whither Japan Stocks: How Much Value is Left?