Kraft Heinz Co., current enterprise value calculation

Current share price (P)	$34.38
No. shares of common stock outstanding	1,222,578,592
US$ in millions
Common equity (market value)¹	42,032)
Add: Noncontrolling interest (per books)	126)
Total equity	42,158)
Add: Commercial paper and other short-term debt (per books)	6)
Add: Current portion of long-term debt (per books)	1,022)
Add: Long-term debt, excluding current portion (per books)	28,216)
Total equity and debt	71,402)
Less: Cash and cash equivalents	2,279)
Enterprise value (EV)	69,123)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 34.38 × 1,222,578,592

Kraft Heinz Co., EV calculation

	Dec 28, 2019	Dec 29, 2018	Dec 30, 2017	Dec 31, 2016	Dec 31, 2015
Share price^1, 2	$26.88	$28.74	$70.80	$92.94	$77.37
No. shares of common stock outstanding¹	1,221,399,549	1,219,938,804	1,218,801,890	1,217,136,057	1,215,189,526
US$ in millions
Common equity (market value)³	32,831)	35,061)	86,291)	113,121)	94,019)
Add: Noncontrolling interest (book value)	126)	118)	207)	216)	208)
Total equity	32,957)	35,179)	86,498)	113,337)	94,227)
Add: Commercial paper and other short-term debt (book value)	6)	21)	460)	645)	4)
Add: Current portion of long-term debt (book value)	1,022)	377)	2,743)	2,046)	79)
Add: Long-term debt, excluding current portion (book value)	28,216)	30,770)	28,333)	29,713)	25,151)
Total equity and debt	62,201)	66,347)	118,034)	145,741)	119,461)
Less: Cash and cash equivalents	2,279)	1,130)	1,629)	4,204)	4,837)
Enterprise value (EV)	59,922)	65,217)	116,405)	141,537)	114,624)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Kraft Heinz Co. Annual Report.

³ 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 26.88 × 1,221,399,549

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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.	Kraft Heinz Co. EV decreased from 2017 to 2018 and from 2018 to 2019.

Kraft Heinz Co. (NASDAQ:KHC)

Enterprise Value (EV)