Enterprise Value (EV)
Current Enterprise Value (EV)
Take-Two Interactive Software Inc., current enterprise value calculation
| Current share price (P) | $237.50 |
| No. shares of common stock outstanding | 177,424,908 |
| US$ in thousands | |
| Common equity (market value)1 | 42,138,416) |
| Add: Preferred stock, $0.01 par value, no shares issued and outstanding (per books) | —) |
| Total equity | 42,138,416) |
| Add: Short-term debt, net (per books) | 1,148,500) |
| Add: Long-term debt, net (per books) | 2,512,600) |
| Total equity and debt | 45,799,516) |
| Less: Cash and cash equivalents | 1,456,100) |
| Less: Short-term investments | 9,400) |
| Less: Restricted cash and cash equivalents | 14,900) |
| Enterprise value (EV) | 44,319,116) |
Based on: 10-K (reporting date: 2025-03-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 237.50 × 177,424,908
Historical Enterprise Value (EV)
Take-Two Interactive Software Inc., EV calculation
Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Take-Two Interactive Software Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 237.50 × 177,424,908
The financial trajectory of the enterprise value (EV) exhibits significant growth and volatility over the six-year period ending March 31, 2025. After a period of instability between 2020 and 2022, a strong upward trend emerged, culminating in a substantial increase in the overall valuation of the business.
- Enterprise Value Trends
- Enterprise value experienced a contraction from US$ 17.47 billion in 2021 to a period low of US$ 11.34 billion in 2022. This decline was followed by a rapid acceleration, with the value more than doubling to US$ 25.29 billion by 2023 and continuing a steep ascent to reach US$ 44.32 billion by March 31, 2025. This represents a total increase of approximately 229% from the 2022 trough.
- Market Equity and Valuation
- Common equity market value closely mirrored the movement of the enterprise value, reflecting a high sensitivity to market sentiment. The market valuation dipped to US$ 14.25 billion in 2022 before surging to US$ 42.14 billion by 2025. The alignment between total equity and common equity market value suggests that the valuation is primarily driven by equity market performance.
- Capital Structure and Debt Integration
- A shift in the capital structure is observable starting in 2023. Between 2020 and 2022, total equity and total equity and debt were identical, indicating a lack of significant debt. From 2023 onward, a divergence appeared, with total equity and debt exceeding total equity, signaling the introduction of debt into the balance sheet. By 2025, total equity and debt reached US$ 45.80 billion against total equity of US$ 42.14 billion.
- Cash Position Implications
- The enterprise value remained consistently lower than the combined total of equity and debt across all reported years. This gap indicates a substantial net cash position, where cash and cash equivalents are offsetting a portion of the debt and market capitalization, effectively reducing the total cost to acquire the business relative to its nominal equity and debt totals.
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