Enterprise Value (EV)
Current Enterprise Value (EV)
EQT Corp., current enterprise value calculation
| Current share price (P) | $39.10 |
| No. shares of common stock outstanding | 367,046,005 |
| US$ in thousands | |
| Common equity (market value)1 | 14,351,499) |
| Add: Noncontrolling interest in consolidated subsidiaries (per books) | 16,236) |
| Total equity | 14,367,735) |
| Add: Current portion of debt (per books) | 954,900) |
| Add: Credit facility borrowings (per books) | —) |
| Add: Term Loan Facility borrowings (per books) | —) |
| Add: Senior notes (per books) | 4,435,782) |
| Add: Note payable to EQM Midstream Partners, LP (per books) | 94,320) |
| Total equity and debt | 19,852,737) |
| Less: Cash and cash equivalents | 113,963) |
| Enterprise value (EV) | 19,738,774) |
Based on: 10-K (reporting date: 2021-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 39.10 × 367,046,005
Historical Enterprise Value (EV)
EQT Corp., EV calculation
Based on: 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), 10-K (reporting date: 2017-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of EQT Corp. Annual Report.
3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 21.67 × 376,023,250
- Common Equity (Market Value)
- The common equity market value exhibited significant volatility over the analyzed periods. It started at a high of approximately $14.1 billion at the end of 2017, then sharply declined to about $4.6 billion by the end of 2018. This downward trend continued through 2019, reaching a low near $1.37 billion. However, in the subsequent years, common equity recovered notably, rising to roughly $5.35 billion in 2020 and further increasing to about $8.15 billion by the end of 2021.
- Total Equity
- Similar to common equity, total equity mirrored a substantial decline from around $19.2 billion in 2017 to approximately $4.6 billion in 2018, followed by a continued decrease to about $1.37 billion in 2019. A recovery phase ensued with total equity increasing to roughly $5.35 billion in 2020 and nearly $8.16 billion in 2021. The close alignment between total equity and common equity values indicates minimal impact from preferred stock or other equity components.
- Total Equity and Debt
- This combined metric showed a more moderate volatility compared to equity alone. Starting at about $25.2 billion in 2017, it dropped significantly to just over $10.1 billion in 2018 and further decreased to approximately $6.67 billion in 2019. However, the metric rebounded in the following years, reaching near $10.3 billion in 2020 and increasing further to around $13.6 billion by the close of 2021. This pattern suggests adjustments in debt levels alongside equity changes contributed to the total capital structure dynamics.
- Enterprise Value (EV)
- Enterprise value followed a similar trajectory to total equity and debt, starting high at approximately $25.2 billion at the end of 2017 and declining sharply to about $10.1 billion in 2018 and further down to $6.66 billion in 2019. It then showed a recovery trend, increasing to approximately $10.3 billion in 2020 and nearly $13.5 billion by the end of 2021. The EV values closely track total equity and debt figures, indicating consistent valuation adjustments in the market reflecting both equity and debt components.
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