Microsoft Excel LibreOffice Calc

Illinois Tool Works Inc. (ITW)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

Illinois Tool Works Inc., current enterprise value calculation

Microsoft Excel LibreOffice Calc
Current share price (P) $175.86
No. shares of common stock outstanding 321,406,096
US$ in millions
Common equity (market value)1 56,522 
Add: Noncontrolling interest (per books) 4 
Total equity 56,526 
Add: Short-term debt (per books) 1,351 
Add: Long-term debt (per books) 6,029 
Total equity and debt 63,906 
Less: Cash and equivalents 1,504 
Enterprise value (EV) 62,402 

Based on: 10-K (filing date: 2019-02-15).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 175.86 × 321,406,096

Historical Enterprise Value (EV)

Illinois Tool Works Inc., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Share price1, 2 $144.21 $163.36 $128.00 $91.88 $98.26
No. shares of common stock outstanding1 328,108,383 341,545,719 346,550,685 363,766,897 379,447,026
US$ in millions
Common equity (market value)3 47,317  55,795  44,358  33,423  37,284 
Add: Noncontrolling interest (book value) 4  4  5  4  5 
Total equity 47,321  55,799  44,363  33,427  37,289 
Add: Short-term debt (book value) 1,351  850  652  526  1,476 
Add: Long-term debt (book value) 6,029  7,478  7,177  6,896  5,981 
Total equity and debt 54,701  64,127  52,192  40,849  44,746 
Less: Cash and equivalents 1,504  3,094  2,472  3,090  3,990 
Enterprise value (EV) 53,197  61,033  49,720  37,759  40,756 

Based on: 10-K (filing date: 2019-02-15), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-10), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Illinois Tool Works Inc.’s Annual Report.

3 2018 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 144.21 × 328,108,383

1 Data adjusted for splits and stock dividends.
2

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. Illinois Tool Works Inc.’s EV increased from 2016 to 2017 but then slightly decreased from 2017 to 2018 not reaching 2016 level.