From what I read on the web:
Book value per share = Stockholders' Equity - Preferred Stock Equity/Average number of Common Shares Number
So if we look into the Visa balance sheet:
Book Value Per Share = Common Stock Equity/Ordinary Shares Number
So 34,509,000/2,182,915 = 15.81, but when I go to statistics Book Value Per Share for the quarter which I calculated was 16.23.
So my question is what I'm missing, is my formula not correct?