Paramount Global, current enterprise value calculation

Current share price (P)	$16.40
No. shares of common stock outstanding	651,557,231
US$ in millions
Common equity (market value)¹	10,686)
Add: 5.75% Series A Mandatory Convertible Preferred Stock, par value $.001 per share (per books)	—)
Add: Noncontrolling interests (per books)	570)
Total equity	11,256)
Add: Current debt (per books)	239)
Add: Long-term debt, net of current portion (per books)	15,607)
Total equity and debt	27,102)
Less: Cash and cash equivalents	2,885)
Enterprise value (EV)	24,217)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 16.40 × 651,557,231

Paramount Global, EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$23.50	$35.99	$65.60	$29.29	$50.64
No. shares of common stock outstanding¹	650,516,853	648,584,674	619,606,133	613,739,990	372,969,983
US$ in millions
Common equity (market value)³	15,287)	23,343)	40,646)	17,976)	18,887)
Add: 5.75% Series A Mandatory Convertible Preferred Stock, par value $.001 per share (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	570)	568)	685)	82)	—)
Total equity	15,857)	23,911)	41,331)	18,058)	18,887)
Add: Current debt (book value)	239)	11)	16)	717)	687)
Add: Long-term debt, net of current portion (book value)	15,607)	17,698)	19,717)	18,002)	9,465)
Total equity and debt	31,703)	41,620)	61,064)	36,777)	29,039)
Less: Cash and cash equivalents	2,885)	6,267)	2,984)	632)	322)
Enterprise value (EV)	28,818)	35,353)	58,080)	36,145)	28,717)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Paramount Global Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 23.50 × 650,516,853

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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.	Paramount Global EV decreased from 2020 to 2021 and from 2021 to 2022.

Paramount Global (NASDAQ:PARA)

Enterprise Value (EV)