Stock Analysis on Net

Datadog Inc. (NASDAQ:DDOG)

Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

Datadog Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $135.60
No. shares of common stock outstanding 345,353,231
US$ in thousands
Common equity (market value)1 46,829,898
Total equity 46,829,898
Add: Convertible senior notes, net, current (per books) 634,023
Add: Convertible senior notes, net, non-current (per books) 979,282
Total equity and debt 48,443,203
Less: Cash and cash equivalents 1,246,983
Less: Marketable securities 2,942,076
Enterprise value (EV) 44,254,144

Based on: 10-K (reporting date: 2024-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 135.60 × 345,353,231


Historical Enterprise Value (EV)

Datadog Inc., EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2 $126.24 $129.51 $76.67 $161.41 $97.61
No. shares of common stock outstanding1 342,764,016 331,874,107 319,892,991 313,909,699 306,491,775
US$ in thousands
Common equity (market value)3 43,270,529 42,981,016 24,526,196 50,668,165 29,916,662
Total equity 43,270,529 42,981,016 24,526,196 50,668,165 29,916,662
Add: Convertible senior notes, net, current (book value) 634,023
Add: Convertible senior notes, net, non-current (book value) 979,282 742,235 738,847 735,482 575,864
Total equity and debt 44,883,834 43,723,251 25,265,043 51,403,647 30,492,526
Less: Cash and cash equivalents 1,246,983 330,339 338,985 270,973 224,927
Less: Marketable securities 2,942,076 2,252,559 1,545,341 1,283,473 1,292,532
Enterprise value (EV) 40,694,775 41,140,353 23,380,717 49,849,201 28,975,067

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 Datadog Inc. Annual Report.

3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 126.24 × 342,764,016


Equity Trends
The market value of common equity increased significantly from 29.9 billion USD at the end of 2020 to a peak of 50.7 billion USD in 2021. However, this value then declined sharply to 24.5 billion USD by the end of 2022. Following this decrease, the equity value recovered substantially to 42.9 billion USD in 2023 and showed a modest increase to 43.3 billion USD by the end of 2024. Total equity mirrored this trend exactly, indicating no difference between market equity and total equity in the data provided.
Total Equity and Debt
Total equity and debt followed a similar pattern to equity alone, moving from 30.5 billion USD in 2020 up to a high of 51.4 billion USD in 2021, then dropping to 25.3 billion USD in 2022. It rebounded to 43.7 billion USD in 2023, growing slightly to 44.9 billion USD in 2024. This closeness between equity and equity plus debt figures suggests relatively low levels of debt compared to equity throughout the periods examined.
Enterprise Value
Enterprise value demonstrated a similar trajectory, rising from 28.9 billion USD in 2020 to nearly 49.8 billion USD in 2021. Afterwards, it decreased sharply to 23.4 billion USD in 2022, before increasing again to roughly 41.1 billion USD in 2023. In 2024, the enterprise value slightly declined to 40.7 billion USD, showing a minor reduction compared to the previous year.
Insights
The data shows a marked peak across all financial metrics in 2021, followed by a significant drop in 2022, suggesting a period of considerable market volatility or company-specific challenges. The subsequent recovery in 2023 across all these measures indicates improved market conditions or operational performance. The relatively small changes between 2023 and 2024 reflect stabilization. Additionally, the close alignment between total equity and total equity plus debt suggests the company maintained a low leverage profile throughout the period.