Cytokinetics Inc., current enterprise value calculation

Current share price (P)	$36.32
No. shares of common stock outstanding	387,824,443
US$ in thousands
Common equity (market value)¹	14,085,784)
Add: Preferred stock, $0.001 par value; issued and outstanding: none (per books)	—)
Total equity	14,085,784)
Add: Current portion of term loan (per books)	—)
Add: Short-term finance lease liabilities (per books)	1,000)
Add: Term loan, net, excluding current portion (per books)	63,810)
Add: Convertible notes, net (per books)	545,808)
Add: Long-term finance lease liabilities (per books)	1,001)
Total equity and debt	14,697,403)
Less: Cash and cash equivalents	65,582)
Less: Short-term investments	716,995)
Enterprise value (EV)	13,914,826)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 36.32 × 387,824,443

Cytokinetics Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$43.11	$35.02	$18.73	$14.86	$6.01
No. shares of common stock outstanding¹	95,161,391	84,856,037	71,110,576	59,450,437	54,888,369
US$ in thousands
Common equity (market value)³	4,102,408)	2,971,658)	1,331,901)	883,433)	329,879)
Add: Preferred stock, $0.001 par value; issued and outstanding: none (book value)	—)	—)	—)	—)	—)
Total equity	4,102,408)	2,971,658)	1,331,901)	883,433)	329,879)
Add: Current portion of term loan (book value)	—)	—)	—)	—)	2,607)
Add: Short-term finance lease liabilities (book value)	1,000)	500)	—)	—)	—)
Add: Term loan, net, excluding current portion (book value)	63,810)	47,367)	46,209)	45,052)	39,806)
Add: Convertible notes, net (book value)	545,808)	95,471)	89,504)	84,205)	—)
Add: Long-term finance lease liabilities (book value)	1,001)	805)	—)	—)	—)
Total equity and debt	4,714,027)	3,115,801)	1,467,614)	1,012,690)	372,292)
Less: Cash and cash equivalents	65,582)	112,666)	82,985)	36,433)	42,256)
Less: Short-term investments	716,995)	358,972)	381,075)	188,679)	156,475)
Enterprise value (EV)	3,931,450)	2,644,163)	1,003,554)	787,578)	173,561)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Cytokinetics Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 43.11 × 95,161,391

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Cytokinetics Inc. EV increased from 2020 to 2021 and from 2021 to 2022.

Cytokinetics Inc. (NASDAQ:CYTK)

Enterprise Value (EV)