Cisco Systems Inc., current enterprise value calculation

Current share price (P)	$47.86
No. shares of common stock outstanding	4,049,187,080
US$ in millions
Common equity (market value)¹	193,794)
Add: Preferred stock, $0.001 par value; none issued and outstanding (per books)	—)
Total equity	193,794)
Add: Short-term debt (per books)	1,733)
Add: Long-term debt, excluding current portion (per books)	6,658)
Total equity and debt	202,185)
Less: Cash and cash equivalents	10,123)
Less: Investments	16,023)
Enterprise value (EV)	176,039)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 47.86 × 4,049,187,080

Cisco Systems Inc., EV calculation

	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019	Jul 28, 2018
Share price^1, 2	$56.79	$45.37	$58.60	$40.95	$48.42	$47.28
No. shares of common stock outstanding¹	4,054,857,783	4,108,844,167	4,217,735,917	4,233,425,297	4,245,290,230	4,571,334,136
US$ in millions
Common equity (market value)³	230,275)	186,418)	247,159)	173,359)	205,557)	216,133)
Add: Preferred stock, $0.001 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)	—)
Total equity	230,275)	186,418)	247,159)	173,359)	205,557)	216,133)
Add: Short-term debt (book value)	1,733)	1,099)	2,508)	3,005)	10,191)	5,238)
Add: Long-term debt, excluding current portion (book value)	6,658)	8,416)	9,018)	11,578)	14,475)	20,331)
Total equity and debt	238,666)	195,933)	258,685)	187,942)	230,223)	241,702)
Less: Cash and cash equivalents	10,123)	7,079)	9,175)	11,809)	11,750)	8,934)
Less: Investments	16,023)	12,188)	15,343)	17,610)	21,663)	37,614)
Enterprise value (EV)	212,520)	176,666)	234,167)	158,523)	196,810)	195,154)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Cisco Systems Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 56.79 × 4,054,857,783

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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.	Cisco Systems Inc. EV decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Cisco Systems Inc. (NASDAQ:CSCO)

Enterprise Value (EV)