This is a relatively simple article explaining how valuations are done using an ‘asset net liabilities’ approach.
The first method would be to use ‘book value’. It explains that the ‘book value’ shows a conservative estimate of a business’s assets due to accounting standards. An adjustment would need to be made in this case e.g. to include goodwill.
The second asset-valuation method discussed is the liquidation approach. This values whether the business is worth more continuing as is or closing the company and liquidating the assets.