Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

Caterpillar Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $366.43
No. shares of common stock outstanding 499,377,269
US$ in millions
Common equity (market value)1 182,987
Add: Noncontrolling interests (per books) 9
Total equity 182,996
Add: Short-term borrowings (per books) 4,643
Add: Long-term debt due within one year (per books) 8,763
Add: Long-term debt due after one year (per books) 24,472
Total equity and debt 220,874
Less: Cash and cash equivalents 6,978
Enterprise value (EV) 213,896

Based on: 10-K (reporting date: 2023-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 366.43 × 499,377,269


Historical Enterprise Value (EV)

Caterpillar Inc., EV calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Share price1, 2 $321.91 $248.70 $203.64 $202.30 $136.86
No. shares of common stock outstanding1 499,377,269 516,345,490 535,888,051 545,303,847 550,082,610
US$ in millions
Common equity (market value)3 160,755 128,415 109,128 110,315 75,284
Add: Noncontrolling interests (book value) 9 22 32 47 41
Total equity 160,764 128,437 109,160 110,362 75,325
Add: Short-term borrowings (book value) 4,643 5,957 5,404 2,015 5,166
Add: Long-term debt due within one year (book value) 8,763 5,322 6,352 9,149 6,210
Add: Long-term debt due after one year (book value) 24,472 25,714 26,033 25,999 26,281
Total equity and debt 198,642 165,430 146,949 147,525 112,982
Less: Cash and cash equivalents 6,978 7,004 9,254 9,352 8,284
Enterprise value (EV) 191,664 158,426 137,695 138,173 104,698

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 Caterpillar Inc. Annual Report.

3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 321.91 × 499,377,269

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Caterpillar Inc. EV increased from 2021 to 2022 and from 2022 to 2023.