General Discussion Topics, page-134266

Not exactly a correction ... more a clarification
Basic corporate Treasurer's equation is
Total Assets = Total Equity + Total Liabilities ... your "book value" (BV) equation
and you can pick this up from the last (audited) financials which is the SYA 2023 AR (pg 65)

And rounding this gives
TA ($1B) = TE ($884M) + TL ($125M)
Total Shares 10B

So BV of the company = $1B/10B = $0.10/share

However shareholders "own" the equity, so we should look at BVE (Book Value Equity)
TE = TA - TL
TE = $884M
so BVE = $884M/10B = $0.088/share ... I'll round it up to $0.09

From that number you can INFER that SYA is trading at a multiple of 0.5X its BVE per share ... and that's a figure you could make comparisions to (both on a historical basis for SYA shares but also to its peers .. dare I say PLL which I think is ~0.8X or CXO which I think is around 1.3X .... or .... you pick)

But be careful. This is "book value" and not "market value" so you are relying upon how good the "$value" of the total assets on the books are (usually at carrying value (which takes into account cost of the asset less its depreciation over time)). That warning is there just as FYI.

So on the basis of BVE seems like you can get a dollar coin for the price of a 50 cent piece - right?
On this basis, SYA is the "cheapest" in that peer universe of SYA/PLL/CXO ... or "undervalued"

The other way to look at it ... the market is discounting SYA due to ... well for all the reasons that are brought up every single day ... but also add that perhaps the market is skeptical of the asset value on the books (and is telegraphing an "Impairment" to the asset's carrying value).

All things to think about @Yk84 ...

BTW ... how long is "soon" ... bet he doesn't.