Enterprise Value (EV)
Difficulty: Intermediate
Current Enterprise Value (EV)
FedEx Corp., current enterprise value calculation
| Current share price (P) | $ 241.77 |
| No. shares of common stock outstanding | 267,215,207 |
| USD $ in millions | |
| Common equity (market value) | 64,605 |
| Total equity | 64,605 |
| Add: Current portion of long-term debt (per books) | 22 |
| Add: Long-term debt, less current portion (per books) | 14,909 |
| Total equity and debt | 79,536 |
| Less: Cash and cash equivalents | 3,969 |
| Enterprise value (EV) | 75,567 |
Historical Enterprise Value (EV)
FedEx Corp., EV calculation
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 268,257,434 | 265,524,323 | 282,430,208 | 285,423,144 | 316,584,465 | 316,599,754 | |
| Share price1, 2 (USD $) | 215.48 | 160.76 | 171.24 | 151.07 | 103.70 | 91.92 | |
| USD $ in millions | |||||||
| | Common equity (market value) | 57,804 | 42,686 | 48,363 | 43,119 | 32,830 | 29,102 |
| | Total equity | 57,804 | 42,686 | 48,363 | 43,119 | 32,830 | 29,102 |
| | Add: Current portion of long-term debt (per books) | 22 | 29 | 19 | 1 | 251 | 417 |
| | Add: Long-term debt, less current portion (per books) | 14,909 | 13,838 | 7,249 | 4,736 | 2,739 | 1,250 |
| | Total equity and debt | 72,735 | 56,553 | 55,631 | 47,856 | 35,820 | 30,769 |
| | Less: Cash and cash equivalents | 3,969 | 3,534 | 3,763 | 2,908 | 4,917 | 2,843 |
| | Enterprise value (EV) | 68,766 | 53,019 | 51,868 | 44,948 | 30,903 | 27,926 |
2 Close price on the filing date of FedEx Corp.'s Annual Report.
| 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. | FedEx Corp.'s EV increased from 2015 to 2016 and from 2016 to 2017. |