Diamondback Energy Inc., current enterprise value calculation

Current share price (P)	$163.55
No. shares of common stock outstanding	175,998,577
US$ in millions
Common equity (market value)¹	28,785)
Add: Non-controlling interest (per books)	1,157)
Total equity	29,942)
Add: Current maturities of long-term debt (per books)	45)
Add: Long-term debt, excluding current maturities (per books)	6,642)
Total equity and debt	36,629)
Less: Cash and cash equivalents	654)
Less: Restricted cash	18)
Enterprise value (EV)	35,957)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 163.55 × 175,998,577

Diamondback Energy Inc., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$127.89	$69.06	$59.48	$105.29	$125.15
No. shares of common stock outstanding¹	177,414,969	158,015,647	158,284,486	164,381,522	98,167,289
US$ in millions
Common equity (market value)³	22,690)	10,913)	9,415)	17,308)	12,286)
Add: Non-controlling interest (book value)	1,157)	1,010)	1,657)	467)	327)
Total equity	23,847)	11,923)	11,072)	17,775)	12,613)
Add: Current maturities of long-term debt (book value)	45)	191)	—)	—)	—)
Add: Long-term debt, excluding current maturities (book value)	6,642)	5,624)	5,371)	4,464)	1,477)
Total equity and debt	30,534)	17,738)	16,443)	22,239)	14,090)
Less: Cash and cash equivalents	654)	104)	123)	215)	112)
Less: Restricted cash	18)	4)	5)	—)	—)
Enterprise value (EV)	29,862)	17,630)	16,315)	22,025)	13,977)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Diamondback Energy Inc. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 127.89 × 177,414,969

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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.	Diamondback Energy Inc. EV increased from 2019 to 2020 and from 2020 to 2021.

Diamondback Energy Inc. (NASDAQ:FANG)

Enterprise Value (EV)