Enterprise Value (EV)
Current Enterprise Value (EV)
Walgreens Boots Alliance Inc., current enterprise value calculation
| Current share price (P) | $39.01 |
| No. shares of common stock outstanding | 866,534,089 |
| US$ in millions | |
| Common equity (market value)1 | 33,803) |
| Add: Preferred stock $.01 par value; none issued (per books) | —) |
| Add: Noncontrolling interests (per books) | 640) |
| Total equity | 34,443) |
| Add: Short-term debt (per books) | 5,738) |
| Add: Long-term debt (per books) | 11,098) |
| Total equity and debt | 51,279) |
| Less: Cash and cash equivalents | 1,023) |
| Enterprise value (EV) | 50,256) |
Based on: 10-K (reporting date: 2019-08-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 39.01 × 866,534,089
Historical Enterprise Value (EV)
Walgreens Boots Alliance Inc., EV calculation
Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Walgreens Boots Alliance Inc. Annual Report.
3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 55.80 × 892,541,146
The financial trajectory between August 2014 and August 2019 is characterized by a significant expansion in valuation and capital structure in 2015, followed by a consistent multi-year contraction across all measured metrics.
- Enterprise Value (EV) Dynamics
- The Enterprise Value exhibited a sharp increase from 59,181 million in 2014 to a peak of 104,315 million in 2015. Subsequently, a downward trend is observed, with the value receding to 66,257 million by 2019. A temporary stabilization occurred in 2018, where a slight increase to 81,590 million was recorded before the final decline in the period.
- Equity Valuation Trends
- Both common equity market value and total equity followed a nearly identical pattern of growth and decline. After rising sharply in 2015 to approximately 92,000 million, these figures entered a steady decline. By August 2019, the market value of common equity fell to 49,804 million, indicating a substantial erosion of market capitalization from its 2015 zenith.
- Capital Structure and Debt Integration
- Total equity and debt mirrored the volatility seen in the Enterprise Value, spiking from 61,827 million in 2014 to 107,315 million in 2015. This metric then decreased progressively over the following four years, reaching 67,280 million in 2019. The tight correlation between total equity and debt and the overall Enterprise Value suggests that changes in the firm's total capital obligations were primary drivers of its overall valuation changes.
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