Below please find the comparison of various asset value approach for better understanding.
In reality, firms are of complex structures, multiple businesses, subsidiaries off on their own, and other features that confuse security analysts, and perhaps the company management as well. Undervalued assets are hidden in these firms, complicated organization have financial statement full of dark corners and secret passageways, terrifying to the novie but potentially rich in treasure for the seasoned explorer. By contrast, simple companies produce financial statements with no place to hide.