Vertex Pharmaceuticals Inc., current enterprise value calculation

Current share price (P)	$503.50
No. shares of common stock outstanding	256,789,869
US$ in thousands
Common equity (market value)¹	129,293,699)
Add: Preferred stock, $0.01 par value; none issued and outstanding (per books)	—)
Total equity	129,293,699)
Add: Current finance lease liabilities (per books)	5,200)
Add: Long-term finance lease liabilities (per books)	112,800)
Total equity and debt	129,411,699)
Less: Cash and cash equivalents	4,569,600)
Less: Marketable securities	1,546,300)
Enterprise value (EV)	123,295,799)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 503.50 × 256,789,869

Vertex Pharmaceuticals Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$462.58	$426.29	$297.40	$244.24	$210.50
No. shares of common stock outstanding¹	256,789,869	258,307,816	257,091,441	254,576,691	259,960,062
US$ in thousands
Common equity (market value)³	118,785,858)	110,114,039)	76,458,995)	62,177,811)	54,721,593)
Add: Preferred stock, $0.01 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	118,785,858)	110,114,039)	76,458,995)	62,177,811)	54,721,593)
Add: Current finance lease liabilities (book value)	5,200)	50,600)	40,800)	46,900)	42,434)
Add: Long-term finance lease liabilities (book value)	112,800)	376,100)	430,800)	509,800)	539,042)
Total equity and debt	118,903,858)	110,540,739)	76,930,595)	62,734,511)	55,303,069)
Less: Cash and cash equivalents	4,569,600)	10,369,100)	10,504,000)	6,795,000)	5,988,187)
Less: Marketable securities	1,546,300)	849,200)	274,500)	729,900)	670,710)
Enterprise value (EV)	112,787,958)	99,322,439)	66,152,095)	55,209,611)	48,644,172)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Vertex Pharmaceuticals Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 462.58 × 256,789,869

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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.	Vertex Pharmaceuticals Inc. EV increased from 2022 to 2023 and from 2023 to 2024.

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Enterprise Value (EV)