Enterprise Value (EV)
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Altria Group Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Current Enterprise Value (EV)
Altria Group Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Current portion of long-term debt (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Altria Group Inc., EV calculation
Based on: 10-K (reporting date: 2023-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Altria Group Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity (Market Value)
- The common equity market value experienced a general upward trend from 2019 to 2021, increasing from 78,962 million US dollars to a peak of 93,552 million in 2021. However, this was followed by a decline over the next two years, dropping to 83,100 million in 2022 and further to 72,126 million by the end of 2023. This suggests a reduction in market valuation of common equity after the peak in 2021.
- Total Equity
- Total equity closely mirrored the trend observed in common equity market value. It rose steadily from 79,059 million US dollars in 2019 to 93,552 million in 2021, then decreased to 83,150 million in 2022 and further to 72,176 million in 2023. This parallel movement indicates consistency between common equity market value and the company’s reported total equity.
- Total Equity and Debt
- The combined figure of total equity and debt also showed growth until 2021, increasing from 107,101 million US dollars in 2019 to 121,596 million in 2021. Subsequently, a decline occurred, falling to 109,830 million in 2022 and further down to 98,409 million in 2023. The trend indicates a contraction in overall capital structure after 2021, potentially reflecting deleveraging or reduction in total capital employed.
- Enterprise Value (EV)
- Enterprise value followed a similar trajectory, increasing moderately from 104,984 million US dollars in 2019 to 117,052 million in 2021. It then declined to 105,800 million in 2022 and further to 94,723 million in 2023. The decrease in EV aligns with the reductions seen in both equity and combined equity and debt, implying a lower overall valuation of the company’s operations and capital base after 2021.