Enterprise Value (EV)
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
Alphabet Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (per books) | |
| Total equity | |
| Add: Current portion of finance lease liabilities (per books) | |
| Add: Short-term debt (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Add: Long-term portion of finance lease liabilities (per books) | |
| Total equity and debt | |
| Less: Cash, cash equivalents, and marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Alphabet Inc., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Alphabet Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data reveals several notable trends in the company's equity, debt, and overall valuation over the five-year period from 2020 to 2024.
- Common Equity and Total Equity
- Both common equity (market value) and total equity exhibit similar fluctuations and growth patterns, as they hold identical values across all periods. There is a significant increase from 1,395,463 million US$ in 2020 to 1,957,004 million US$ in 2021, representing strong equity growth. However, in 2022, equity drops sharply to 1,347,553 million US$, suggesting a substantial decrease in market value or a possible accounting adjustment. This is followed by a recovery in 2023, with equity rising to 1,762,999 million US$, and continued growth into 2024, reaching 2,356,327 million US$—the highest value in the observed period.
- Total Equity and Debt
- The total equity and debt show a generally similar pattern to total equity, with values slightly higher, indicating the presence of debt in the capital structure. The figure grows from approximately 1,410,495 million US$ in 2020 to 1,971,934 million US$ in 2021, then declines to 1,362,552 million US$ in 2022, before rebounding to 1,777,615 million US$ in 2023 and further to 2,372,186 million US$ in 2024. The difference between total equity and total equity plus debt diminishes somewhat over the years, reflecting changes in debt levels, though the company maintains a relatively balanced capital structure.
- Enterprise Value (EV)
- Enterprise value trends closely align with the capital metrics, starting at 1,273,801 million US$ in 2020 and peaking at 1,832,285 million US$ in 2021. This is followed by a considerable decline to 1,248,790 million US$ in 2022. The EV recovers substantially in the subsequent years reaching 1,666,699 million US$ in 2023 and ultimately 2,276,529 million US$ in 2024. These movements suggest market perceptions and overall company valuation fluctuations, with a general trend of recovery and growth after the 2022 dip.
Overall, the data demonstrates volatility in equity values and enterprise valuation, with a pronounced downturn in 2022 followed by a strong recovery through 2023 and 2024. The upward trajectory toward the end of the period indicates strengthening market valuation and potentially improved financial health. The alignment between equity and enterprise value trends supports the conclusion that the company’s capital structure and market performance have been positively influenced in the most recent years.