Current EV
Historical EV

DuPont de Nemours Inc., current enterprise value calculation

Current share price (P)	$53.10
No. shares of common stock outstanding	739,388,462
US$ in millions
Common equity (market value)¹	39,262)
Add: Preferred stock, series A, $1.00 par (per books)	—)
Add: Non-redeemable noncontrolling interests (per books)	569)
Total equity	39,831)
Add: Short-term borrowings and finance lease obligations (per books)	3,830)
Add: Long-term debt, excluding debt within one year (per books)	13,617)
Total equity and debt	57,278)
Less: Cash and cash equivalents	1,540)
Less: Marketable securities	—)
Enterprise value (EV)	55,738)

Based on: 10-K (reporting date: 2019-12-31).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 53.10 × 739,388,462

DuPont de Nemours Inc., EV calculation

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Share price^1, 2	$53.10	$52.00	$71.85	$60.26	$46.01
No. shares of common stock outstanding¹	739,388,462	751,587,353	776,341,159	404,437,193	372,370,816
US$ in millions
Common equity (market value)³	39,262)	39,083)	55,780)	24,371)	17,133)
Add: Preferred stock, series A, $1.00 par (book value)	—)	—)	—)	—)	4,000)
Add: Non-redeemable noncontrolling interests (book value)	569)	1,608)	1,597)	1,242)	809)
Total equity	39,831)	40,691)	57,377)	25,613)	21,942)
Add: Short-term borrowings and finance lease obligations (book value)	3,830)	2,802)	4,015)	907)	995)
Add: Long-term debt, excluding debt within one year (book value)	13,617)	37,662)	30,056)	20,456)	16,215)
Total equity and debt	57,278)	81,155)	91,448)	46,976)	39,152)
Less: Cash and cash equivalents	1,540)	13,482)	13,438)	6,607)	8,577)
Less: Marketable securities	—)	134)	956)	—)	—)
Enterprise value (EV)	55,738)	67,539)	77,054)	40,369)	30,575)

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of DuPont de Nemours Inc. Annual Report.

³ 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 53.10 × 739,388,462

Common Equity (Market Value): There was a significant increase in common equity value from 2015 through 2017, rising from approximately 17.1 billion to 55.8 billion US dollars. However, this upward trend reversed notably in 2018, with the value dropping to about 39.1 billion, and then stabilizing in 2019 at a similar level of 39.3 billion US dollars.
Total Equity: Total equity followed a similar pattern to common equity. It showed steady growth from around 21.9 billion in 2015 to a peak of 57.4 billion in 2017. Subsequently, there was a marked decline in 2018 to approximately 40.7 billion, with a slight further decrease to 39.8 billion in 2019. The decline after 2017 indicates a potential reduction in retained earnings or other equity components during that period.
Total Equity and Debt: The combined total of equity and debt grew substantially from 39.2 billion in 2015 to 91.4 billion in 2017, indicating sizeable financing activities, possibly through debt issuance or equity increases. However, after this peak, the figure decreased to 81.2 billion in 2018 and further to 57.3 billion in 2019, reflecting significant deleveraging or repayment of debt alongside the equity decline observed.
Enterprise Value (EV): Enterprise value exhibited a rising trend from 2015, increasing from 30.6 billion to 77.1 billion in 2017, consistent with growth in market capitalization and debt. This was followed by a decline to 67.5 billion in 2018 and a further dip to 55.7 billion in 2019, aligning with the reductions observed in both equity and total capital employed. This decline reflects a contraction in the company's market valuation and enterprise resources during the later periods.

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DuPont de Nemours Inc. (NYSE:DD)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)