Name: Anadarko Petroleum Corp. (NYSE:APC) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Anadarko Petroleum Corp., current enterprise value calculation

Current share price (P)	$49.37
No. shares of common stock outstanding	547,157,557
US$ in millions
Common equity (market value)¹	27,013)
Add: Noncontrolling interests (per books)	3,285)
Total equity	30,298)
Add: Short-term debt (per books)	42)
Add: Long-term debt, excluding current portion (per books)	15,281)
Total equity and debt	45,621)
Less: Cash and cash equivalents	3,184)
Enterprise value (EV)	42,437)

Based on: 10-K (reporting date: 2016-12-31).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 49.37 × 547,157,557

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Anadarko Petroleum Corp., EV calculation

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Share price^1, 2	$66.77	$40.50	$85.45	$84.16	$84.13
No. shares of common stock outstanding¹	558,979,551	508,438,647	506,650,285	503,767,298	500,565,966
US$ in millions
Common equity (market value)³	37,323)	20,592)	43,293)	42,397)	42,113)
Add: Noncontrolling interests (book value)	3,285)	2,638)	2,593)	1,793)	1,253)
Total equity	40,608)	23,230)	45,886)	44,190)	43,366)
Add: Short-term debt (book value)	42)	33)	—)	500)	—)
Add: Long-term debt, excluding current portion (book value)	15,281)	15,718)	15,092)	13,065)	13,269)
Total equity and debt	55,931)	38,981)	60,978)	57,755)	56,635)
Less: Cash and cash equivalents	3,184)	939)	7,369)	3,698)	2,471)
Enterprise value (EV)	52,747)	38,042)	53,609)	54,057)	54,164)

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

¹ Data adjusted for splits and stock dividends.

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

³ 2016 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 66.77 × 558,979,551

The financial metrics from 2012 to 2016 exhibit a period of relative stability followed by a significant contraction in 2015 and a subsequent recovery in 2016. The most notable volatility is observed in market-based equity and overall enterprise valuation, reflecting a sharp cyclical downturn mid-period.

Enterprise Value (EV) Trends: Enterprise value remained remarkably consistent between 2012 and 2014, fluctuating minimally from US$ 54,164 million to US$ 53,609 million. However, a sharp decline occurred in 2015, with EV dropping to US$ 38,042 million. By December 31, 2016, the value recovered significantly to US$ 52,747 million, nearly returning to pre-2015 levels.
Market Equity Volatility: Common equity market value showed a steady upward trajectory from 2012 to 2014, peaking at US$ 43,293 million. This was followed by a precipitous decline in 2015, where the market value fell by approximately 52% to US$ 20,592 million. A strong rebound was recorded in 2016, with market equity increasing to US$ 37,323 million.
Total Equity and Debt Dynamics: The combined value of total equity and debt mirrored the trends seen in enterprise value. After a gradual increase to a peak of US$ 60,978 million in 2014, the total capitalization contracted to US$ 38,981 million in 2015. The recovery in 2016 brought this figure back to US$ 55,931 million, suggesting a restoration of the capital base.
Equity Correlation: A high degree of correlation is observed between total equity (book value) and common equity (market value). Both metrics experienced a severe reduction in 2015, with total equity falling from US$ 45,886 million in 2014 to US$ 23,230 million in 2015, before recovering to US$ 40,608 million in 2016.

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Anadarko Petroleum Corp. (NYSE:APC)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)