T-Mobile US Inc., current enterprise value calculation

Current share price (P)	$163.96
No. shares of common stock outstanding	1,171,854,259
US$ in millions
Common equity (market value)¹	192,137)
Total equity	192,137)
Add: Short-term debt (per books)	3,619)
Add: Short-term debt to affiliates (per books)	—)
Add: Short-term financing lease liabilities (per books)	1,260)
Add: Long-term debt (per books)	69,903)
Add: Long-term debt to affiliates (per books)	1,496)
Add: Long-term financing lease liabilities (per books)	1,236)
Total equity and debt	269,651)
Less: Cash and cash equivalents	5,135)
Enterprise value (EV)	264,516)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 163.96 × 1,171,854,259

T-Mobile US Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$161.78	$147.49	$124.48	$119.22	$82.77
No. shares of common stock outstanding¹	1,186,867,575	1,219,383,110	1,249,289,954	1,242,804,085	856,932,845
US$ in millions
Common equity (market value)³	192,011)	179,847)	155,512)	148,167)	70,928)
Total equity	192,011)	179,847)	155,512)	148,167)	70,928)
Add: Short-term debt (book value)	3,619)	5,164)	3,378)	4,579)	25)
Add: Short-term debt to affiliates (book value)	—)	—)	2,245)	—)	—)
Add: Short-term financing lease liabilities (book value)	1,260)	1,161)	1,120)	1,063)	957)
Add: Long-term debt (book value)	69,903)	65,301)	67,076)	61,830)	10,958)
Add: Long-term debt to affiliates (book value)	1,496)	1,495)	1,494)	4,716)	13,986)
Add: Long-term financing lease liabilities (book value)	1,236)	1,370)	1,455)	1,444)	1,346)
Total equity and debt	269,525)	254,338)	232,280)	221,799)	98,200)
Less: Cash and cash equivalents	5,135)	4,507)	6,631)	10,385)	1,528)
Enterprise value (EV)	264,390)	249,831)	225,649)	211,414)	96,672)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of T-Mobile US Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 161.78 × 1,186,867,575

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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.	T-Mobile US Inc. EV increased from 2021 to 2022 and from 2022 to 2023.

T-Mobile US Inc. (NASDAQ:TMUS)

Enterprise Value (EV)