Net Asset Value

Formal

The sum total of every asset owned by a company that is listed on the Balance Sheet. It’s not necessarily how much the company is worth though - many different valuation techniques exist for that.

Real-world Example

A company's total assets are worth $5M and its total liabilities are $2M - a Net Asset Value of $3M, representing what would theoretically be left for shareholders if everything were sold and all debts paid.