Microsoft Excel LibreOffice Calc

NVIDIA Corp. (NVDA)


Enterprise Value (EV)

Medium level of difficulty


Current Enterprise Value (EV)

NVIDIA Corp., current enterprise value calculation

Microsoft Excel LibreOffice Calc
Current share price (P) $207.99
No. shares of common stock outstanding 612,000,000
US$ in millions
Common equity (market value)1 127,290 
Add: Preferred stock, $.001 par value; none issued (per books) — 
Total equity 127,290 
Add: Convertible short-term debt (per books) — 
Add: Long-term debt (per books) 1,988 
Add: Convertible long-term debt (per books) — 
Add: Capital lease obligations, long-term (per books) — 
Total equity and debt 129,278 
Less: Cash and cash equivalents 782 
Less: Marketable securities 6,640 
Enterprise value (EV) 121,856 

Based on: 10-K (filing date: 2019-02-21).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 207.99 × 612,000,000


Historical Enterprise Value (EV)

NVIDIA Corp., EV calculation

Microsoft Excel LibreOffice Calc
Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016 Jan 25, 2015 Jan 26, 2014
Share price1, 2 $155.77 $242.00 $102.79 $32.82 $22.67 $17.74
No. shares of common stock outstanding1 606,000,000 605,000,000 589,000,000 542,000,000 549,840,211 554,241,412
US$ in millions
Common equity (market value)3 94,397  146,410  60,543  17,788  12,465  9,832 
Add: Preferred stock, $.001 par value; none issued (book value) —  —  —  —  —  — 
Total equity 94,397  146,410  60,543  17,788  12,465  9,832 
Add: Convertible short-term debt (book value) —  15  796  1,413  —  — 
Add: Long-term debt (book value) 1,988  1,985  1,983  —  —  — 
Add: Convertible long-term debt (book value) —  —  —  —  1,384  1,356 
Add: Capital lease obligations, long-term (book value) —  —  10  14  18 
Total equity and debt 96,385  148,410  63,328  19,211  13,863  11,206 
Less: Cash and cash equivalents 782  4,002  1,766  596  497  1,152 
Less: Marketable securities 6,640  3,106  5,032  4,441  4,127  3,520 
Enterprise value (EV) 88,963  141,302  56,530  14,174  9,240  6,534 

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17), 10-K (filing date: 2015-03-12), 10-K (filing date: 2014-03-13).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of NVIDIA Corp.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 155.77 × 606,000,000

1 Data adjusted for splits and stock dividends.
2

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. NVIDIA Corp.’s EV increased from 2017 to 2018 but then slightly declined from 2018 to 2019 not reaching 2017 level.