Applied Materials Inc., current enterprise value calculation

Current share price (P)	$203.38
No. shares of common stock outstanding	830,897,356
US$ in millions
Common equity (market value)¹	168,988)
Add: Preferred stock: $.01 par value per share; no shares issued (per books)	—)
Total equity	168,988)
Add: Short-term debt (per books)	100)
Add: Current portion of long-term debt (per books)	—)
Add: Finance lease liabilities, current (per books)	102)
Add: Long-term debt, net of current portion (per books)	5,461)
Total equity and debt	174,651)
Less: Cash and cash equivalents	6,132)
Less: Short-term investments	737)
Enterprise value (EV)	167,782)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 203.38 × 830,897,356

Applied Materials Inc., EV calculation

	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Oct 25, 2020	Oct 27, 2019	Oct 28, 2018
Share price^1, 2	$161.95	$104.73	$146.15	$88.30	$59.87	$33.71
No. shares of common stock outstanding¹	831,067,105	844,139,722	888,513,248	914,344,189	915,304,098	958,606,093
US$ in millions
Common equity (market value)³	134,591)	88,407)	129,856)	80,737)	54,799)	32,315)
Add: Preferred stock: $.01 par value per share; no shares issued (book value)	—)	—)	—)	—)	—)	—)
Total equity	134,591)	88,407)	129,856)	80,737)	54,799)	32,315)
Add: Short-term debt (book value)	100)	—)	—)	—)	—)	—)
Add: Current portion of long-term debt (book value)	—)	—)	—)	—)	600)	—)
Add: Finance lease liabilities, current (book value)	102)	—)	—)	—)	—)	—)
Add: Long-term debt, net of current portion (book value)	5,461)	5,457)	5,452)	5,448)	4,713)	5,309)
Total equity and debt	140,254)	93,864)	135,308)	86,185)	60,112)	37,624)
Less: Cash and cash equivalents	6,132)	1,995)	4,995)	5,351)	3,129)	3,440)
Less: Short-term investments	737)	586)	464)	387)	489)	590)
Enterprise value (EV)	133,385)	91,283)	129,849)	80,447)	56,494)	33,594)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Applied Materials Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 161.95 × 831,067,105

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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.	Applied Materials Inc. EV decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Applied Materials Inc. (NASDAQ:AMAT)

Enterprise Value (EV)