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Enterprise Value (EV)

Difficulty: Intermediate


Current Enterprise Value (EV)

Texas Instruments Inc., current enterprise value calculation

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Current share price (P) $ 109.64
No. shares of common stock outstanding 972,195,072
USD $ in millions
Common equity (market value) 106,591 
Add: Preferred stock, $25 par value; participating cumulative preferred; none issued (per books)
Total equity 106,591 
Add: Current portion of long-term debt (per books) 500 
Add: Long-term debt, excluding current portion (per books) 3,577 
Total equity and debt 110,668 
Less: Cash and cash equivalents 1,656 
Less: Short-term investments 2,813 
Enterprise value (EV) 106,199 

Historical Enterprise Value (EV)

Texas Instruments Inc., EV calculation

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
No. shares of common stock outstanding1 983,787,502 999,639,733 1,005,257,723 1,047,142,301 1,084,213,991
Share price1, 2 (USD $) 103.93 77.14 52.46 58.96 44.45
USD $ in millions
Common equity (market value) 102,245  77,112  52,736  61,740  48,193 
Add: Preferred stock, $25 par value; participating cumulative preferred; none issued (per books)
Total equity 102,245  77,112  52,736  61,740  48,193 
Add: Current portion of long-term debt (per books) 500  631  1,000  1,001  1,000 
Add: Long-term debt, excluding current portion (per books) 3,577  2,978  3,120  3,641  4,158 
Total equity and debt 106,322  80,721  56,856  66,382  53,351 
Less: Cash and cash equivalents 1,656  1,154  1,000  1,199  1,627 
Less: Short-term investments 2,813  2,336  2,218  2,342  2,202 
Enterprise value (EV) 101,853  77,231  53,638  62,841  49,522 
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of Texas Instruments Inc.'s Annual Report.
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. Texas Instruments Inc.'s EV increased from 2015 to 2016 and from 2016 to 2017.