Valuation

No. NCI only appears when producing consolidated accounts. If you are valuing a company then you use the assets and liabilities of that company.

okay, last question related to book value per share, Book value per share = net current assets (or equity) / number of shares My question - do we exclude the intangible assets when calculating the book value per share ?

If you are told the book value in the question, then yes. However, firstly your 'formula' is not current - the book value per share is the net assets (not net current assets) / number of shares. (net assets are total assets including non-current assets less total liabilities including non-current liabilities). Secondly, because any question on this will inevitably also require a discussion, then although you would make the point that the book values of non-current assets are generally not very meaningful, the book value of any intangible assets is likely to be even less meaningful.