NVIDIA Corp., current enterprise value calculation

Current share price (P)	$826.32
No. shares of common stock outstanding	2,500,000,000
US$ in millions
Common equity (market value)¹	2,065,800)
Add: Preferred stock, $.001 par value; none issued (per books)	—)
Total equity	2,065,800)
Add: Short-term debt (per books)	1,250)
Add: Long-term debt (per books)	8,459)
Total equity and debt	2,075,509)
Less: Cash and cash equivalents	7,280)
Less: Marketable securities	18,704)
Enterprise value (EV)	2,049,525)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 826.32 × 2,500,000,000

NVIDIA Corp., EV calculation

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Jan 26, 2020	Jan 27, 2019
Share price^1, 2	$674.72	$232.86	$264.53	$137.15	$77.18	$38.94
No. shares of common stock outstanding¹	2,500,000,000	2,470,000,000	2,510,000,000	2,480,000,000	2,448,000,000	2,424,000,000
US$ in millions
Common equity (market value)³	1,686,800)	575,164)	663,970)	340,132)	188,937)	94,391)
Add: Preferred stock, $.001 par value; none issued (book value)	—)	—)	—)	—)	—)	—)
Total equity	1,686,800)	575,164)	663,970)	340,132)	188,937)	94,391)
Add: Short-term debt (book value)	1,250)	1,250)	—)	999)	—)	—)
Add: Long-term debt (book value)	8,459)	9,703)	10,946)	5,964)	1,991)	1,988)
Total equity and debt	1,696,509)	586,117)	674,916)	347,095)	190,928)	96,379)
Less: Cash and cash equivalents	7,280)	3,389)	1,990)	847)	10,896)	782)
Less: Marketable securities	18,704)	9,907)	19,218)	10,714)	1)	6,640)
Enterprise value (EV)	1,670,525)	572,821)	653,708)	335,534)	180,031)	88,957)

¹ Data adjusted for splits and stock dividends.

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

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 674.72 × 2,500,000,000

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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.	NVIDIA Corp. EV decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

NVIDIA Corp. (NASDAQ:NVDA)

Enterprise Value (EV)