Name: Albemarle Corp. (NYSE:ALB) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Albemarle Corp., current enterprise value calculation

Current share price (P)	$172.91
No. shares of common stock outstanding	117,336,441
US$ in thousands
Common equity (market value)¹	20,288,644)
Add: Noncontrolling interests (per books)	208,220)
Total equity	20,496,864)
Add: Current portion of long-term debt (per books)	2,128)
Add: Long-term debt, excluding current portion (per books)	3,214,972)
Total equity and debt	23,713,964)
Less: Cash and cash equivalents	1,499,142)
Enterprise value (EV)	22,214,822)

Based on: 10-K (reporting date: 2022-12-31).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 172.91 × 117,336,441

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Albemarle Corp., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$272.79	$191.85	$156.17	$85.65	$92.28
No. shares of common stock outstanding¹	117,197,977	117,036,615	116,632,439	106,206,157	105,753,864
US$ in thousands
Common equity (market value)³	31,970,436)	22,453,475)	18,214,488)	9,096,557)	9,758,967)
Add: Noncontrolling interests (book value)	208,220)	180,341)	200,367)	161,330)	173,787)
Total equity	32,178,656)	22,633,816)	18,414,855)	9,257,887)	9,932,754)
Add: Current portion of long-term debt (book value)	2,128)	389,920)	804,677)	187,336)	307,294)
Add: Long-term debt, excluding current portion (book value)	3,214,972)	2,004,319)	2,767,381)	2,862,921)	1,397,916)
Total equity and debt	35,395,756)	25,028,055)	21,986,913)	12,308,144)	11,637,964)
Less: Cash and cash equivalents	1,499,142)	439,272)	746,724)	613,110)	555,320)
Enterprise value (EV)	33,896,614)	24,588,783)	21,240,189)	11,695,034)	11,082,644)

Based on: 10-K (reporting date: 2022-12-31), 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).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Albemarle Corp. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 272.79 × 117,197,977

Enterprise value exhibits a consistent upward trajectory from 2018 through 2022, characterized by a significant acceleration in valuation beginning in 2020. The total valuation grew from 11.08 billion US dollars in 2018 to 33.90 billion US dollars by the end of 2022, reflecting a substantial increase in the overall value of the business operations.

Enterprise Value Expansion: A period of relative stability is observed between 2018 and 2019, followed by a sharp increase of approximately 82% in enterprise value between 2019 and 2020. This growth trend persisted through 2021 and 2022, with the final valuation representing more than triple the initial 2018 figure.
Equity Valuation and Market Alignment: Common equity market value mirrored the trend of enterprise value, experiencing a slight decline in 2019 before surging to 18.21 billion US dollars in 2020 and peaking at 31.97 billion US dollars in 2022. The high degree of correlation between common equity market value and total equity indicates that the market valuation remained closely aligned with the book value of equity throughout the five-year period.
Capital Structure Observations: Total equity and debt increased steadily from 11.64 billion US dollars in 2018 to 35.40 billion US dollars in 2022. The proximity of the total equity and debt figure to the enterprise value suggests that the offset provided by cash and cash equivalents was relatively small compared to the total capital employed in the business.

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Albemarle Corp. (NYSE:ALB)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)