Eaton Corp. plc, current enterprise value calculation

Current share price (P)	$324.30
No. shares of common stock outstanding	399,500,000
US$ in millions
Common equity (market value)¹	129,558)
Add: Noncontrolling interests (per books)	33)
Total equity	129,591)
Add: Short-term debt (per books)	8)
Add: Current portion of long-term debt (per books)	1,017)
Add: Long-term debt, excluding current portion (per books)	8,244)
Total equity and debt	138,860)
Less: Cash	488)
Less: Short-term investments	2,121)
Enterprise value (EV)	136,251)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 324.30 × 399,500,000

Eaton Corp. plc, EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$289.00	$172.78	$149.31	$132.68	$96.58
No. shares of common stock outstanding¹	399,500,000	398,000,000	398,800,000	398,100,000	413,400,000
US$ in millions
Common equity (market value)³	115,456)	68,766)	59,545)	52,820)	39,926)
Add: Noncontrolling interests (book value)	33)	37)	38)	43)	51)
Total equity	115,489)	68,803)	59,583)	52,863)	39,977)
Add: Short-term debt (book value)	8)	324)	13)	1)	255)
Add: Current portion of long-term debt (book value)	1,017)	10)	1,735)	1,047)	248)
Add: Long-term debt, excluding current portion (book value)	8,244)	8,321)	6,831)	7,010)	7,819)
Total equity and debt	124,758)	77,458)	68,162)	60,921)	48,299)
Less: Cash	488)	294)	297)	438)	370)
Less: Short-term investments	2,121)	261)	271)	664)	221)
Enterprise value (EV)	122,149)	76,903)	67,594)	59,819)	47,708)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Eaton Corp. plc Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 289.00 × 399,500,000

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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.	Eaton Corp. plc EV increased from 2021 to 2022 and from 2022 to 2023.

Eaton Corp. plc (NYSE:ETN)

Enterprise Value (EV)