So Amazons asset minus liabilities is $420.549B - $276.766B Divide that by the number of shares (shares outstanding for simplicity's sake) is $143.783B / 0.50

So Amazons asset minus liabilities is $420.549B - $276.766B Divide that by the number of shares (shares outstanding for simplicity's sake) is $143.783B / 0.509B This gives us a value of $282.48 per share. Share price at the time of the above figures is $3259.95. So it looks like you might be right. 8.7% of the share price is backed by real world value (assuming the figures are correct) that might be realised for the shareholder some day in the future and the other 91.3% of the share price is hopes and dreams devoid of all emotion. Jokes aside humans cannot predict the future, value is subjective and emotion plays a part in everything we do. So who is anyone to say that something is worth nothing if there is a buyer that is willing to purchase.