Enterprise Value (EV)
Current Enterprise Value (EV)
Expand Energy Corp., current enterprise value calculation
| Current share price (P) | $107.47 |
| No. shares of common stock outstanding | 237,979,439 |
| US$ in millions | |
| Common equity (market value)1 | 25,576) |
| Total equity | 25,576) |
| Add: Current maturities of long-term debt, net (per books) | 389) |
| Add: Long-term debt, net, excluding current maturities (per books) | 5,291) |
| Total equity and debt | 31,256) |
| Less: Cash and cash equivalents | 317) |
| Less: Restricted cash | 78) |
| Enterprise value (EV) | 30,861) |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 107.47 × 237,979,439
Historical Enterprise Value (EV)
Expand Energy Corp., EV calculation
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
= 102.43 × 232,699,939
An analysis of the financial position from 2021 to 2024 reveals a substantial expansion in the overall valuation and capital structure of the organization. The most prominent characteristic of this period is the accelerated growth observed in the final year, where all primary valuation metrics experienced a significant surge.
- Market Valuation Trends
- The market value of common equity exhibited a consistent upward trajectory, increasing from 8,407 million US$ in 2021 to 10,967 million US$ by 2023. This growth intensified sharply in 2024, with the equity value more than doubling to 23,835 million US$. This suggests a marked increase in investor confidence or a significant corporate event affecting market capitalization during the 2024 fiscal year.
- Enterprise Value (EV) Dynamics
- Enterprise value followed a non-linear growth path, rising from 9,771 million US$ in 2021 to a peak of 13,638 million US$ in 2022, before experiencing a slight contraction to 11,842 million US$ in 2023. However, a substantial escalation occurred in 2024, with the EV reaching 29,120 million US$, representing a nearly 146% increase over the previous year.
- Capital Structure and Debt Integration
- The total equity and debt figure mirrors the trend of the enterprise value, moving from 10,685 million US$ in 2021 to 29,515 million US$ in 2024. The gap between total equity and total equity and debt indicates a significant increase in total liabilities or borrowed capital in 2024, rising from approximately 2,028 million US$ in 2023 to 5,680 million US$ in 2024.
- Comparative Valuation Analysis
- The proximity of the enterprise value to the total equity and debt figures across all four years indicates that the valuation is driven heavily by the combined value of equity and debt. The rapid convergence and simultaneous spike of these metrics in 2024 point toward a major capital infusion or a strategic expansion that significantly scaled the company's financial footprint.
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