Enterprise Value (EV)
Current Enterprise Value (EV)
Warner Bros. Discovery Inc., current enterprise value calculation
| Current share price (P) | $10.43 |
| No. shares of common stock outstanding | 2,428,396,015 |
| US$ in millions | |
| Common equity (market value)1 | 25,328) |
| Add: Noncontrolling interests (per books) | 1,434) |
| Total equity | 26,762) |
| Add: Finance lease liabilities, current (per books) | 58) |
| Add: Current portion of debt (per books) | 339) |
| Add: Noncurrent portion of debt (per books) | 14,420) |
| Add: Finance lease liabilities, noncurrent (per books) | 197) |
| Total equity and debt | 41,776) |
| Less: Cash and cash equivalents | 3,905) |
| Enterprise value (EV) | 37,871) |
Based on: 10-K (reporting date: 2021-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 10.43 × 2,428,396,015
Historical Enterprise Value (EV)
Warner Bros. Discovery Inc., EV calculation
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Warner Bros. Discovery Inc. Annual Report.
3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 27.73 × 506,245,821
- Common Equity (Market Value) Trend
- Common equity showed an overall increase from 2017 through 2020, rising from 9,288 million USD in 2017 to a peak of 26,945 million USD in 2020. However, this was followed by a significant decline in 2021 to 14,038 million USD. The data suggests strong growth leading up to 2020, but a notable reduction thereafter.
- Total Equity Trend
- Total equity followed a pattern similar to common equity, increasing steadily from 9,288 million USD in 2017 to 28,481 million USD in 2020, then decreasing to 15,472 million USD in 2021. This indicates an expansion of shareholders' equity through 2020 before a contraction in the following year.
- Total Equity and Debt Trend
- Total equity and debt combined increased from 24,073 million USD in 2017 to 44,126 million USD in 2020, reflecting growth in the company’s overall financing structure. In 2021, this figure decreased to 30,486 million USD, corresponding to a reversal from prior levels but still above the 2017 value. This could suggest a reduction in debt or equity financing following the 2020 peak.
- Enterprise Value (EV) Trend
- Enterprise value fluctuated over the period, rising sharply from 16,764 million USD in 2017 to 42,035 million USD in 2020. Subsequently, it dropped to 26,581 million USD in 2021. The upward trend through 2020 indicates increased market valuation and overall business value, with a decline in 2021 potentially signaling changes in market perception or operational performance.
- Summary of Patterns and Insights
- The data exhibits a general growth trajectory in key financial indicators from 2017 through 2020, highlighting a period of expansion in equity, debt, and overall valuation. However, 2021 experienced notable declines across all these metrics, returning closer to or slightly above 2018-2019 levels. This volatility suggests that while the company grew substantially during the earlier years, it faced challenges or strategic shifts in 2021 that affected its financial standing. The synchronous movement of equity, debt, and enterprise value implies interconnected financial adjustments, possibly due to market conditions, operational changes, or restructuring activities.