General Motors Co., current enterprise value calculation

Current share price (P)	$45.84
No. shares of common stock outstanding	1,140,958,039
US$ in millions
Common equity (market value)¹	52,302)
Add: Noncontrolling interests (per books)	3,903)
Total equity	56,205)
Add: Short-term debt and current portion of long-term debt (per books)	38,968)
Add: Long-term debt, excluding current portion (per books)	82,773)
Total equity and debt	177,946)
Less: Cash and cash equivalents	18,853)
Less: Marketable debt securities	7,613)
Enterprise value (EV)	151,480)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 45.84 × 1,140,958,039

General Motors Co., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$38.15	$39.32	$53.50	$54.88	$35.03
No. shares of common stock outstanding¹	1,154,433,287	1,394,637,226	1,453,021,337	1,440,912,820	1,429,002,063
US$ in millions
Common equity (market value)³	44,042)	54,837)	77,737)	79,077)	50,058)
Add: Noncontrolling interests (book value)	3,903)	4,135)	6,071)	4,647)	4,165)
Total equity	47,945)	58,972)	83,808)	83,724)	54,223)
Add: Short-term debt and current portion of long-term debt (book value)	38,968)	38,778)	33,720)	36,913)	37,400)
Add: Long-term debt, excluding current portion (book value)	82,773)	75,921)	75,659)	72,981)	65,924)
Total equity and debt	169,686)	173,671)	193,187)	193,618)	157,547)
Less: Cash and cash equivalents	18,853)	19,153)	20,067)	19,992)	19,069)
Less: Marketable debt securities	7,613)	12,150)	8,609)	9,046)	4,174)
Enterprise value (EV)	143,220)	142,368)	164,511)	164,580)	134,304)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of General Motors Co. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 38.15 × 1,154,433,287

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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.	General Motors Co. EV decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

General Motors Co. (NYSE:GM)

Enterprise Value (EV)