Enterprise Value (EV)
Current Enterprise Value (EV)
Shockwave Medical Inc., current enterprise value calculation
| Current share price (P) | $330.00 |
| No. shares of common stock outstanding | 37,543,542 |
| US$ in thousands | |
| Common equity (market value)1 | 12,389,369) |
| Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (per books) | —) |
| Total equity | 12,389,369) |
| Add: Debt, current portion (per books) | —) |
| Add: Convertible debt, noncurrent portion (per books) | 731,863) |
| Add: Debt, noncurrent portion (per books) | —) |
| Total equity and debt | 13,121,232) |
| Less: Cash and cash equivalents | 328,422) |
| Less: Short-term investments | 662,132) |
| Enterprise value (EV) | 12,130,678) |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 330.00 × 37,543,542
Historical Enterprise Value (EV)
Shockwave Medical Inc., EV calculation
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Shockwave Medical Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 259.89 × 37,396,816
- Common Equity (Market Value) and Total Equity
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The common equity, which is equal to total equity, exhibits a substantial growth trend over the five-year period. Starting from approximately US$921 million at the end of 2019, it experienced a pronounced increase to about US$4.07 billion in 2020, marking more than a fourfold rise.
Subsequent years saw continued growth, though at a moderated pace, reaching roughly US$6.26 billion in 2021, US$6.92 billion in 2022, and culminating in US$9.72 billion by the end of 2023. This steady increase indicates a consistent strengthening of the company’s equity base over the period examined.
- Total Equity and Debt
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The combined measure of total equity and debt also shows a similar upward trajectory, moving from about US$935 million in 2019 to over US$10.45 billion in 2023.
While the absolute level of total equity and debt is invariably higher than total equity alone, the proportional relationship between these two metrics suggests that equity continues to constitute the dominant portion of the company's capital structure. The increase implies either growth in debt as well or a reflection of rising enterprise scale.
- Enterprise Value (EV)
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Enterprise value follows a consistent expansion path, rising from roughly US$740 million at the end of 2019 to approximately US$9.46 billion by the close of 2023.
This growth in EV closely parallels the increases in total equity and total equity and debt, indicating an overall escalation in the company’s market capitalization and valuation metrics.
- Overall Financial Trends
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Across all the key capital structure indicators, the company demonstrates significant growth within the five-year span. The most remarkable increase occurs between 2019 and 2020, signifying a possible major event affecting valuation or capital influx.
Following this, the growth, while still robust, stabilizes into a more moderate and steady ascent. The parallel upward trends in equity, total capital, and enterprise value indicate a strengthening financial position and likely improved market confidence over time.