Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Apple Inc. (NASDAQ:AAPL)

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Enterprise Value (EV)

Intermediate level


Current Enterprise Value (EV)

Apple Inc., current enterprise value calculation

Microsoft Excel LibreOffice Calc
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Total equity
Add: Commercial paper (per books)
Add: Current portion of term debt (per books)
Add: Non-current portion of term debt (per books)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term marketable securities
Enterprise value (EV)

Based on: 10-K (filing date: 2019-10-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

Apple Inc., EV calculation

Microsoft Excel LibreOffice Calc
Sep 28, 2019 Sep 29, 2018 Sep 30, 2017 Sep 24, 2016 Sep 26, 2015 Sep 27, 2014
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Total equity
Add: Commercial paper (book value)
Add: Current portion of term debt (book value)
Add: Non-current portion of term debt (book value)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term marketable securities
Enterprise value (EV)

Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Apple Inc.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×

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. Apple Inc.’s EV increased from 2017 to 2018 and from 2018 to 2019.