HCA Healthcare Inc., current enterprise value calculation

Current share price (P)	$216.30
No. shares of common stock outstanding	295,484,400
US$ in millions
Common equity (market value)¹	63,913)
Add: Noncontrolling interests (per books)	2,422)
Total equity	66,335)
Add: Long-term debt due within one year (per books)	237)
Add: Long-term debt due after one year, less debt issuance costs and discounts (per books)	34,342)
Total equity and debt	100,914)
Less: Cash and cash equivalents	1,451)
Enterprise value (EV)	99,463)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 216.30 × 295,484,400

HCA Healthcare Inc., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$244.10	$177.37	$148.11	$142.01	$100.84
No. shares of common stock outstanding¹	303,600,000	339,917,500	338,427,300	342,376,700	349,903,700
US$ in millions
Common equity (market value)³	74,109)	60,291)	50,124)	48,621)	35,284)
Add: Noncontrolling interests (book value)	2,422)	2,320)	2,243)	2,032)	1,811)
Total equity	76,531)	62,611)	52,367)	50,653)	37,095)
Add: Long-term debt due within one year (book value)	237)	209)	145)	788)	200)
Add: Long-term debt due after one year, less debt issuance costs and discounts (book value)	34,342)	30,795)	33,577)	32,033)	32,858)
Total equity and debt	111,110)	93,615)	86,089)	83,474)	70,153)
Less: Cash and cash equivalents	1,451)	1,793)	621)	502)	732)
Enterprise value (EV)	109,659)	91,822)	85,468)	82,972)	69,421)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of HCA Healthcare Inc. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 244.10 × 303,600,000

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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.	HCA Healthcare Inc. EV increased from 2019 to 2020 and from 2020 to 2021.

HCA Healthcare Inc. (NYSE:HCA)

Enterprise Value (EV)