Name: Fair Isaac Corp. (NYSE:FICO) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Fair Isaac Corp., current enterprise value calculation

Current share price (P)	$1,527.80
No. shares of common stock outstanding	24,003,656
US$ in thousands
Common equity (market value)¹	36,672,786)
Add: Preferred stock, $0.01 par value; none issued and outstanding (per books)	—)
Total equity	36,672,786)
Add: Current finance lease liabilities (per books)	3,144)
Add: Current maturities on debt (per books)	15,000)
Add: Long-term debt, excluding current maturities (per books)	2,194,021)
Add: Non-current finance lease liabilities (per books)	7,263)
Total equity and debt	38,892,214)
Less: Cash and cash equivalents	150,667)
Enterprise value (EV)	38,741,547)

Based on: 10-K (reporting date: 2024-09-30).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 1,527.80 × 24,003,656

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Fair Isaac Corp., EV calculation

	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Share price^1, 2	$2,090.63	$940.43	$443.77	$388.61	$461.72	$331.59
No. shares of common stock outstanding¹	24,347,903	24,713,557	24,975,618	27,358,353	29,098,177	28,961,612
US$ in thousands
Common equity (market value)³	50,902,456)	23,241,370)	11,083,430)	10,631,730)	13,435,210)	9,603,381)
Add: Preferred stock, $0.01 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)	—)
Total equity	50,902,456)	23,241,370)	11,083,430)	10,631,730)	13,435,210)	9,603,381)
Add: Current finance lease liabilities (book value)	3,144)	—)	—)	—)	2,186)	1,935)
Add: Current maturities on debt (book value)	15,000)	50,000)	30,000)	250,000)	95,000)	218,000)
Add: Long-term debt, excluding current maturities (book value)	2,194,021)	1,811,658)	1,823,669)	1,009,018)	739,435)	606,790)
Add: Non-current finance lease liabilities (book value)	7,263)	—)	—)	—)	3,076)	3,489)
Total equity and debt	53,121,884)	25,103,028)	12,937,099)	11,890,748)	14,274,907)	10,433,595)
Less: Cash and cash equivalents	150,667)	136,778)	133,202)	195,354)	157,394)	106,426)
Enterprise value (EV)	52,971,217)	24,966,250)	12,803,897)	11,695,394)	14,117,513)	10,327,169)

Based on: 10-K (reporting date: 2024-09-30), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Fair Isaac Corp. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 2,090.63 × 24,347,903

The financial trajectory of the enterprise value (EV) exhibits a significant upward trend over the six-year period ending September 30, 2024. While the initial years showed some volatility, the valuation entered a phase of accelerated growth starting in 2023, culminating in a substantial increase by the final reporting date.

Enterprise Value Progression: The EV rose from 10,327,169 thousand US dollars in 2019 to 52,971,217 thousand US dollars in 2024. A period of moderate fluctuation occurred between 2019 and 2022, with the value reaching 14,117,513 thousand US dollars in 2020 before contracting to 11,695,394 thousand US dollars in 2021. A sharp upward inflection is observed starting in 2023, where EV increased to 24,966,250 thousand US dollars, followed by a further surge to 52,971,217 thousand US dollars in 2024.
Market Equity Influence: A direct and strong correlation exists between the market value of common equity and the overall enterprise value. The exponential growth in EV is primarily driven by the surge in market equity, which increased from 9,603,381 thousand US dollars in 2019 to 50,902,456 thousand US dollars in 2024. This indicates that the expansion of the total valuation is predominantly attributed to market capitalization gains.
Capital Structure Analysis: The relationship between total equity and debt relative to the enterprise value remains consistent. As of September 30, 2024, total equity and debt stood at 53,121,884 thousand US dollars compared to an EV of 52,971,217 thousand US dollars. The minimal variance between these figures throughout the period suggests a stable capital structure where the enterprise value is closely aligned with the combined value of equity and debt obligations.

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Fair Isaac Corp. (NYSE:FICO)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)