Enterprise Value (EV)
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Hershey Co. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Analysis of Revenues
- Analysis of Debt
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Current Enterprise Value (EV)
Hershey Co., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in thousands | |
| Common equity (market value)1 | |
| Add: Preferred stock, shares issued: none (per books) | |
| Add: Noncontrolling interest in subsidiary (per books) | |
| Total equity | |
| Add: Short-term debt (per books) | |
| Add: Current portion of long-term debt (per books) | |
| Add: Long-term portion of long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2022-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Hershey Co., EV calculation
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Hershey Co. Annual Report.
3 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data reveals several notable trends over the five-year period from 2018 to 2022. Both common equity (market value) and total equity displayed a generally upward trajectory, with a significant increase particularly evident in the years 2019 and 2021. After a slight decrease in 2020, equity values resumed growth, reaching the highest levels in 2022. This indicates an overall strengthening of the company's equity base.
Total equity and debt also increased steadily, reflecting the company's expanding financial base with a combination of equity and liabilities. This growth mirrors the rise in total equity but includes additional debt, suggesting an increasing leverage or use of borrowed capital over time.
Enterprise value (EV), which incorporates market capitalization, debt, and excludes cash, followed a similar pattern to total equity and debt. The EV experienced growth throughout the period, with a temporary dip in 2020 before rising sharply again in 2021 and continuing upward in 2022. This suggests enhanced market valuation and/or increased debt levels, pointing toward growing enterprise worth from the market’s perspective.
- Equity Trends
- Common equity and total equity rose significantly from 2018 to 2019, dipped in 2020, then increased substantially in the following two years, indicating a recovery and expansion phase.
- Total Equity and Debt
- Increased progressively year over year, showing a growing capital base financed through a combination of equity and debt, with potential implications of greater leverage or capital investment.
- Enterprise Value (EV)
- Mirrored total equity and debt trends, with growth interrupted by a slight downturn in 2020. The strong recovery and subsequent increases highlight enhanced valuation and possible strategic financing activities.
Overall, the data reflects a pattern of financial growth and recovery following a 2020 decline, with increasing utilization of both equity and debt. The upward trends in enterprise value corroborate an improving market perception and/or operational scale expansion over the analyzed period.