Stock Analysis on Net

Expand Energy Corp. (NASDAQ:EXE)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 29, 2025.

Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

Expand Energy Corp., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Total equity
Add: Current maturities of long-term debt, net (per books)
Add: Long-term debt, net, excluding current maturities (per books)
Total equity and debt
Less: Cash and cash equivalents
Less: Restricted cash
Enterprise value (EV)

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

Expand Energy Corp., EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Total equity
Add: Current maturities of long-term debt, net (book value)
Add: Long-term debt, net, excluding current maturities (book value)
Total equity and debt
Less: Cash and cash equivalents
Less: Restricted cash
Enterprise value (EV)

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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Expand Energy Corp. Annual Report.

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


Equity Trends
The common equity, measured at market value, shows a steady increase over the observed period. Initially recorded at 8,407 million US dollars at the end of 2021, it rises to 10,737 million in 2022 and then slightly increases to 10,967 million by the end of 2023. A notable surge occurs in 2024, with equity reaching 23,835 million US dollars, more than doubling the previous year's figure. This pattern reflects a significant growth in shareholder value, especially in the final year evaluated.
Total Equity and Debt Movements
Total equity aligns exactly with common equity throughout the years, suggesting no additional equity components outside of common equity are factored. Total equity and debt combined demonstrate an upward trend overall, beginning at 10,685 million US dollars in 2021 and reaching 13,830 million in 2022. There is a slight decline to 12,995 million in 2023 followed by a sharp increase to 29,515 million in 2024. This increase in total capital structure indicates an expansion in the company's financing base, with a marked increase in leveraging or funding sources in the last year.
Enterprise Value Analysis
Enterprise value (EV) mirrors changes in total equity and debt but with slight variances in magnitude. Starting at 9,771 million US dollars at the end of 2021, it grows to 13,638 million in 2022. The EV then decreases to 11,842 million in 2023 before experiencing a substantial rise to 29,120 million in 2024. This suggests that the market perceives the company's operating value to have increased dramatically in 2024, reflecting improved business prospects, enhanced asset base, or both.
Overall Financial Insights
The data reveals a consistent escalation in the corporation’s market valuation and financial resources over the four-year span, particularly pronounced in 2024. The increase in both equity and enterprise value indicates positive investor sentiment and possibly augmented operational performance or asset acquisitions. The observed fluctuations in total equity and debt suggest changes in financing strategy, including potential increases in debt or capital infusion to support growth initiatives. The sharp uptick in the final period underscores a transformative scale-up phase within the company's financial profile.