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DowDuPont Inc. (DWDP)


Enterprise Value (EV)

Difficulty: Intermediate


Current Enterprise Value (EV)

DowDuPont Inc., current enterprise value calculation

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Current share price (P) $ 31.99
No. shares of common stock outstanding 2,246,387,858
USD $ in millions
Common equity (market value) 71,862 
Add: Preferred stock, series A, $1.00 par (per books) – 
Add: Non-redeemable noncontrolling interests (per books) 1,608 
Total equity 73,470 
Add: Notes payable (per books) 2,165 
Add: Long-term debt due within one year (per books) 637 
Add: Long-term debt, excluding debt due within one year (per books) 37,662 
Total equity and debt 113,934 
Less: Cash and cash equivalents 13,482 
Less: Marketable securities 134 
Enterprise value (EV) 100,318 

Based on: 10-K (filing date: 2019-02-11).


Historical Enterprise Value (EV)

DowDuPont Inc., EV calculation

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
No. shares of common stock outstanding1 2,254,762,058 2,329,023,478 1,213,311,580 1,117,112,448 1,157,695,055
Share price1, 2 (USD $) 52.00 71.85 60.26 46.01 49.44
USD $ in millions
Common equity (market value) 117,248  167,340  73,114  51,398  57,236 
Add: Preferred stock, series A, $1.00 par (per books) –  –  –  4,000  4,000 
Add: Non-redeemable noncontrolling interests (per books) 1,608  1,597  1,242  809  931 
Total equity 118,856  168,937  74,356  56,207  62,167 
Add: Notes payable (per books) 2,165  1,948  272  454  551 
Add: Long-term debt due within one year (per books) 637  2,067  635  541  394 
Add: Long-term debt, excluding debt due within one year (per books) 37,662  30,056  20,456  16,215  18,838 
Total equity and debt 159,320  203,008  95,719  73,417  81,950 
Less: Cash and cash equivalents 13,482  13,438  6,607  8,577  5,654 
Less: Marketable securities 134  956  –  –  – 
Enterprise value (EV) 145,704  188,614  89,112  64,840  76,296 

Based on: 10-K (filing date: 2019-02-11), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).

1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of DowDuPont Inc.’s Annual Report.

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. DowDuPont Inc.’s EV increased from 2016 to 2017 but then slightly declined from 2017 to 2018.