The value flowing through an internal link is not set by one rule but weighed across several factors at once. The picture below reflects how search engines appear to assess internal links based on observed behavior and general guidance; treat it as a working model worth confirming against current documentation, not a fixed law.
The first factor is the authority of the source page. A link from a page that has accumulated more authority (through external links, internal links, and ranking strength) can pass more value than an identical link on a weak page. A link is only as strong as the page giving it.
The second is placement and context. A link embedded in the body copy, with relevant text around it, is weighted more than one in boilerplate like a footer or sidebar, because its placement signals editorial intent and topical relevance.
The third is the number of links on the source page. The value a page can pass is shared among its outbound links, so a link on a page with five outbound links can carry more than the same link on a page with fifty, where the share is split many ways.
The fourth is relevance between the two pages. A link between topically related pages carries more contextual weight than a link between unrelated ones, because the relationship itself is part of the signal.
The fifth is the anchor text and surrounding words, which tell search engines what the destination page is about and reinforce or undercut the link’s relevance.
No single factor decides it; the value is the product of all of them together. A high-authority, in-content, relevant link on a page with few other links carries real weight, while a low-authority, footer, irrelevant link on a link-stuffed page carries almost none.
Pick any internal link on your site and run it through the five: how strong is the source page, where on the page does the link sit, how many other links compete with it, how related are the two pages, and does the anchor describe the destination? The answers let you predict whether that link is carrying weight or barely registering, without needing a single number to tell you.