Toyota Motor Corp., current enterprise value calculation

Current share price (P)	$135.40
No. shares of common stock outstanding	1,573,406,816
US$ in millions
Common equity (market value)¹	213,039)
Add: Noncontrolling interests (per books)	7,162)
Total equity	220,202)
Add: Short-term borrowings (per books)	42,082)
Add: Current portion of long-term debt (per books)	32,638)
Add: Long-term debt, excluding current portion (per books)	83,481)
Total equity and debt	378,403)
Less: Cash and cash equivalents	19,044)
Less: Time deposits	1,245)
Less: Marketable securities	23,192)
Enterprise value (EV)	334,922)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 135.40 × 1,573,406,816

Toyota Motor Corp., EV calculation

	Mar 31, 2015	Mar 31, 2014	Mar 31, 2013	Mar 31, 2012	Mar 31, 2011	Mar 31, 2010
Share price^1, 2	$135.40	$116.55	$116.53	$76.09	$81.29	$70.00
No. shares of common stock outstanding¹	1,573,406,816	1,584,883,010	1,583,714,334	1,583,404,877	1,567,849,344	1,567,997,930
US$ in millions
Common equity (market value)³	213,039)	184,718)	184,550)	120,481)	127,450)	109,760)
Add: Noncontrolling interests (book value)	7,162)	7,281)	6,636)	6,281)	7,067)	6,134)
Total equity	220,202)	192,000)	191,186)	126,762)	134,518)	115,894)
Add: Short-term borrowings (book value)	42,082)	46,910)	43,432)	41,984)	38,232)	35,250)
Add: Current portion of long-term debt (book value)	32,638)	28,643)	28,722)	30,571)	33,347)	23,843)
Add: Long-term debt, excluding current portion (book value)	83,481)	82,996)	77,929)	73,516)	77,561)	75,402)
Total equity and debt	378,403)	350,549)	341,269)	272,833)	283,659)	250,389)
Less: Cash and cash equivalents	19,044)	19,821)	18,249)	20,431)	25,024)	20,053)
Less: Time deposits	1,245)	1,750)	1,133)	977)	2,452)	4,221)
Less: Marketable securities	23,192)	19,876)	15,353)	14,370)	14,738)	19,273)
Enterprise value (EV)	334,922)	309,101)	306,533)	237,055)	241,446)	206,842)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Toyota Motor Corp. Annual Report.

³ 2015 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 135.40 × 1,573,406,816

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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.	Toyota Motor Corp. EV increased from 2013 to 2014 and from 2014 to 2015.

Toyota Motor Corp. (NYSE:TM)

Enterprise Value (EV)