What is the difference between the two? Or are they synonymous?
Book value refers to the value that’s shown on the balance sheet. You can have a book value of debt, book value of equity, book value of assets.
Equity represents ownership in a company. You can have book value of equity, or market value of equity (which is measured by market price per share x number of common shares).
So I really don’t understand your question. Are you asking what’s the difference between book value of equity vs. market value of equity? Read the book.
Analyst0718, I was referring to the book value of a company.