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) $228.84
No. shares of common stock outstanding 516,345,490
US$ in millions
Common equity (market value)1 118,161
Add: Noncontrolling interests (per books) 22
Total equity 118,183
Add: Short-term borrowings (per books) 5,957
Add: Long-term debt due within one year (per books) 5,322
Add: Long-term debt due after one year (per books) 25,714
Total equity and debt 155,176
Less: Cash and cash equivalents 7,004
Enterprise value (EV) 148,172

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 228.84 × 516,345,490


Historical Enterprise Value (EV)

Caterpillar Inc., EV calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Share price1, 2 $248.70 $203.64 $202.30 $136.86 $132.62
No. shares of common stock outstanding1 516,345,490 535,888,051 545,303,847 550,082,610 575,542,738
US$ in millions
Common equity (market value)3 128,415 109,128 110,315 75,284 76,328
Add: Noncontrolling interests (book value) 22 32 47 41 41
Total equity 128,437 109,160 110,362 75,325 76,369
Add: Short-term borrowings (book value) 5,957 5,404 2,015 5,166 5,723
Add: Long-term debt due within one year (book value) 5,322 6,352 9,149 6,210 5,830
Add: Long-term debt due after one year (book value) 25,714 26,033 25,999 26,281 25,000
Total equity and debt 165,430 146,949 147,525 112,982 112,922
Less: Cash and cash equivalents 7,004 9,254 9,352 8,284 7,857
Enterprise value (EV) 158,426 137,695 138,173 104,698 105,065

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 Caterpillar Inc. Annual Report.

3 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 248.70 × 516,345,490

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 decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.