Home Depot Inc., current enterprise value calculation

Current share price (P)	$359.00
No. shares of common stock outstanding	994,032,168
US$ in millions
Common equity (market value)¹	356,858)
Total equity	356,858)
Add: Short-term debt (per books)	316)
Add: Current installments of long-term debt (per books)	4,582)
Add: Long-term debt, excluding current installments (per books)	48,485)
Total equity and debt	410,241)
Less: Cash and cash equivalents	1,659)
Enterprise value (EV)	408,582)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 359.00 × 994,032,168

Home Depot Inc., EV calculation

	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Share price^1, 2	$351.15	$378.99	$287.97	$317.05	$292.75	$181.76
No. shares of common stock outstanding¹	994,032,168	991,015,773	1,014,955,506	1,033,349,933	1,077,069,383	1,074,741,592
US$ in millions
Common equity (market value)³	349,054)	375,585)	292,277)	327,624)	315,312)	195,345)
Total equity	349,054)	375,585)	292,277)	327,624)	315,312)	195,345)
Add: Short-term debt (book value)	316)	—)	—)	1,035)	—)	974)
Add: Current installments of long-term debt (book value)	4,582)	1,368)	1,231)	2,447)	1,416)	1,839)
Add: Long-term debt, excluding current installments (book value)	48,485)	42,743)	41,962)	36,604)	35,822)	28,670)
Total equity and debt	402,437)	419,696)	335,470)	367,710)	352,550)	226,828)
Less: Cash and cash equivalents	1,659)	3,760)	2,757)	2,343)	7,895)	2,133)
Enterprise value (EV)	400,778)	415,936)	332,713)	365,367)	344,655)	224,695)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Home Depot Inc. Annual Report.

³ 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 351.15 × 994,032,168

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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.	Home Depot Inc. EV increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

Home Depot Inc. (NYSE:HD)

Enterprise Value (EV)