Enterprise Value (EV)
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Apple Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Current Enterprise Value (EV)
Apple Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Current portion of finance leases (per books) | |
| Add: Commercial paper (per books) | |
| Add: Current portion of term debt (per books) | |
| Add: Non-current portion of term debt (per books) | |
| Add: Non-current portion of finance leases (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Current marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-09-28).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Apple Inc., EV calculation
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Apple Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity Trends
- Over the analyzed period, common equity (market value) and total equity exhibit a consistent upward trend. Starting at approximately 1.1 trillion USD in September 2019, both measures more than tripled to about 3.37 trillion USD by September 2024. This indicates strong growth in shareholder value and capitalization over the five-year span.
- Total Equity and Debt
- The total of equity and debt similarly increased steadily from roughly 1.21 trillion USD in 2019 to nearly 3.48 trillion USD in 2024. The increase reflects balanced growth in the company’s financing structure, with expansion in equity accompanied by an increase in liabilities.
- Enterprise Value (EV)
- Enterprise value also rose consistently, starting from about 1.11 trillion USD in 2019 and reaching approximately 3.41 trillion USD in 2024. The trend closely parallels that of total equity and debt, suggesting that market assessments of the company’s value grow broadly in line with its capital structure changes.
- Overall Insights
- The parallel growth in equity, combined equity and debt, and enterprise value over the five-year period signals a stable expansion with enhanced market capitalization and increased leverage. The company’s capital base has strengthened significantly, underlying its increasing market presence and valuation. The sustained upward trajectory with no notable decline or volatility evidences strong financial health and investor confidence.