Explanation of Net Worth Per Share:

Net Worth Per Share is a measurement of the net worth of the company for each share of stock that has been issued.  Since Stock Dividends are cash the company pays out to shareholders, this value cannot be included in a company's net worth. 

Importance of Net Worth Per Share:

If this value is negative, this is a bad sign that the company's liabilities exceed its ability to pay them. Company's that distribute a large amount of Stock Dividends may also see this ratio value suffer, as it is burdened with constant dividend disbursements.  An increasing Net Worth Per Share value is a positive sign, as this may often be a signal the company has reduced its liabilities.  The company may also have gone through a stock buy-back plan, reducing the number of shares, essentially making the net worth for each share more valuable.