O’Reilly Automotive Inc., current enterprise value calculation

Current share price (P)	$833.51
No. shares of common stock outstanding	62,575,911
US$ in thousands
Common equity (market value)¹	52,157,648)
Add: Preferred stock, $0.01 par value; none issued and outstanding shares (per books)	—)
Total equity	52,157,648)
Add: Long-term debt (per books)	3,826,978)
Total equity and debt	55,984,626)
Less: Cash and cash equivalents	362,113)
Enterprise value (EV)	55,622,513)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 833.51 × 62,575,911

O’Reilly Automotive Inc., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$649.24	$447.33	$368.72	$367.96	$244.19
No. shares of common stock outstanding¹	66,600,918	70,206,669	74,897,080	78,375,610	83,670,900
US$ in thousands
Common equity (market value)³	43,239,980)	31,405,549)	27,616,051)	28,839,089)	20,431,597)
Add: Preferred stock, $0.01 par value; none issued and outstanding shares (book value)	—)	—)	—)	—)	—)
Total equity	43,239,980)	31,405,549)	27,616,051)	28,839,089)	20,431,597)
Add: Long-term debt (book value)	3,826,978)	4,123,217)	3,890,527)	3,417,122)	2,978,390)
Total equity and debt	47,066,958)	35,528,766)	31,506,578)	32,256,211)	23,409,987)
Less: Cash and cash equivalents	362,113)	465,640)	40,406)	31,315)	46,348)
Enterprise value (EV)	46,704,845)	35,063,126)	31,466,172)	32,224,896)	23,363,639)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of O’Reilly Automotive Inc. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 649.24 × 66,600,918

Equity Trends: The common equity (market value) and total equity exhibited a consistent upward trajectory from 2017 through 2021. Starting at approximately $20.4 billion in 2017, the values increased significantly to reach approximately $43.2 billion by the end of 2021. This more than doubling in equity reflects a robust growth in shareholder value during this period.
Total Equity and Debt: The combined total of equity and debt showed steady growth over the five-year span. Beginning at about $23.4 billion in 2017, the figure rose to approximately $47.1 billion by 2021. This indicates that both equity and debt levels have increased, suggesting an expansion in the company's overall capitalization and possibly its operational scale.
Enterprise Value (EV): Enterprise value followed a growth pattern similar to total equity and debt. From roughly $23.4 billion in 2017, it grew to about $46.7 billion in 2021. This growth in EV corresponds with increases in both equity and debt, reflecting an appreciation in the company's total market value inclusive of its debt obligations.
Summary of Financial Position: The data reveals a clear upward trend across all key financial measures. The doubling of market equity and near doubling of enterprise value and total capitalization indicate strong company growth. The proportional increase in both equity and total capitalization suggests balanced financial leverage usage to support the growth effectively over the years analyzed.

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O’Reilly Automotive Inc. (NASDAQ:ORLY)

Enterprise Value (EV)