Name: Estée Lauder Cos. Inc. (NYSE:EL) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Estée Lauder Cos. Inc., current enterprise value calculation

Current share price (P)	$156.69
No. shares of common stock outstanding	357,690,815
US$ in millions
Common equity (market value)¹	56,047)
Add: Noncontrolling interests (per books)	—)
Total equity	56,047)
Add: Current debt (per books)	997)
Add: Long-term debt, excluding current maturities (per books)	7,117)
Total equity and debt	64,161)
Less: Cash and cash equivalents	4,029)
Less: Short-term investments	—)
Enterprise value (EV)	60,132)

Based on: 10-K (reporting date: 2023-06-30).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 156.69 × 357,690,815

Estée Lauder Cos. Inc., EV calculation

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Share price^1, 2	$156.69	$265.43	$340.82	$222.93	$197.15	$135.59
No. shares of common stock outstanding¹	357,690,815	356,903,600	361,287,242	360,804,641	360,756,333	367,194,210
US$ in millions
Common equity (market value)³	56,047)	94,733)	123,134)	80,434)	71,123)	49,788)
Add: Noncontrolling interests (book value)	—)	—)	34)	27)	25)	22)
Total equity	56,047)	94,733)	123,168)	80,461)	71,148)	49,810)
Add: Current debt (book value)	997)	268)	32)	1,222)	516)	183)
Add: Long-term debt, excluding current maturities (book value)	7,117)	5,144)	5,537)	4,914)	2,896)	3,361)
Total equity and debt	64,161)	100,145)	128,737)	86,597)	74,560)	53,354)
Less: Cash and cash equivalents	4,029)	3,957)	4,958)	5,022)	2,987)	2,181)
Less: Short-term investments	—)	—)	—)	—)	—)	534)
Enterprise value (EV)	60,132)	96,188)	123,779)	81,575)	71,573)	50,639)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Estée Lauder Cos. Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 156.69 × 357,690,815

The financial trajectory of the enterprise value and equity metrics exhibits a period of significant expansion followed by a sharp contraction over the six-year period ending June 30, 2023.

Equity Market Value Trends: Common equity market value experienced a consistent upward trajectory from 2018 to 2021, rising from US$ 49,788 million to a peak of US$ 123,134 million. Following this peak, a substantial decline occurred over the subsequent two years, with the value falling to US$ 56,047 million by June 30, 2023, nearly returning to the levels recorded at the start of the analyzed period.
Enterprise Value (EV) Dynamics: The enterprise value mirrors the movement of market capitalization, reaching its zenith in 2021 at US$ 123,779 million. A significant correction is observed between 2021 and 2023, during which the EV decreased by approximately 51% to reach US$ 60,132 million. This suggests a notable reduction in the total market valuation of the company's core business operations.
Capital Structure and Debt Implications: The minimal variance between common equity market value and enterprise value throughout the period indicates a capital structure where net debt contributes a relatively small portion to the total enterprise valuation. Total equity and debt followed the same growth and contraction pattern as the other metrics, peaking at US$ 128,737 million in 2021 before decreasing to US$ 64,161 million by June 30, 2023.

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Estée Lauder Cos. Inc. (NYSE:EL)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)