Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Caterpillar Inc. (NYSE:CAT)

Enterprise Value (EV)

Intermediate level


Current Enterprise Value (EV)

Caterpillar Inc., current enterprise value calculation

Microsoft Excel LibreOffice Calc
Current share price (P) $152.39
No. shares of common stock outstanding 541,506,575
US$ in millions
Common equity (market value)1 82,520 
Add: Noncontrolling interests (per books) 41 
Total equity 82,561 
Add: Short-term borrowings (per books) 5,166 
Add: Long-term debt due within one year (per books) 6,210 
Add: Long-term debt due after one year (per books) 26,281 
Total equity and debt 120,218 
Less: Cash and short-term investments 8,284 
Enterprise value (EV) 111,934 

Based on: 10-K (filing date: 2020-02-19).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 152.39 × 541,506,575


Historical Enterprise Value (EV)

Caterpillar Inc., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $136.86 $132.62 $159.98 $99.02 $65.21
No. shares of common stock outstanding1 550,082,610 575,542,738 597,625,772 586,486,024 582,321,890
US$ in millions
Common equity (market value)3 75,284  76,328  95,608  58,074  37,973 
Add: Noncontrolling interests (book value) 41  41  69  76  76 
Total equity 75,325  76,369  95,677  58,150  38,049 
Add: Short-term borrowings (book value) 5,166  5,723  4,837  7,303  6,967 
Add: Long-term debt due within one year (book value) 6,210  5,830  6,194  6,662  5,879 
Add: Long-term debt due after one year (book value) 26,281  25,000  23,847  22,818  25,247 
Total equity and debt 112,982  112,922  130,555  94,933  76,142 
Less: Cash and short-term investments 8,284  7,857  8,261  7,168  6,460 
Enterprise value (EV) 104,698  105,065  122,294  87,765  69,682 

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-16).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Caterpillar Inc.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 136.86 × 550,082,610

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.’s EV decreased from 2017 to 2018 and from 2018 to 2019.