Enterprise Value (EV)
Current Enterprise Value (EV)
Kimberly-Clark Corp., current enterprise value calculation
| Current share price (P) | $132.11 |
| No. shares of common stock outstanding | 337,431,588 |
| US$ in millions | |
| Common equity (market value)1 | 44,578) |
| Add: Preferred stock, no par value; none issued (per books) | —) |
| Add: Noncontrolling interests (per books) | 243) |
| Total equity | 44,821) |
| Add: Debt payable within one year (per books) | 486) |
| Add: Long-term debt, excluding payable within one year (per books) | 7,878) |
| Total equity and debt | 53,185) |
| Less: Cash and cash equivalents | 303) |
| Enterprise value (EV) | 52,882) |
Based on: 10-K (reporting date: 2020-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 132.11 × 337,431,588
Historical Enterprise Value (EV)
Kimberly-Clark Corp., EV calculation
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Kimberly-Clark Corp. Annual Report.
3 2020 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 132.09 × 338,363,924
The valuation trajectory of Kimberly-Clark Corp. between 2016 and 2020 is characterized by a fluctuating cycle of contraction, rapid expansion, and subsequent moderation. A general decline in total value was observed from 2016 through 2018, followed by a significant peak in 2019 and a partial correction by the end of 2020.
- Enterprise Value Trends
- Enterprise Value (EV) exhibited a downward trend in the first three years of the period, falling from 50,665 million USD in 2016 to 46,202 million USD by 2018. A sharp reversal occurred in 2019, where EV reached a five-year peak of 57,004 million USD, an increase of approximately 23.3% in a single year. This growth was followed by a decline to 52,998 million USD by December 31, 2020.
- Correlation Between Market and Book Equity
- A high degree of synchronization is observed between the market value of common equity and total equity. Both metrics followed identical directional movements over the five-year span, peaking in 2019 at 49,472 million USD and 49,699 million USD, respectively. The minimal variance between these two figures suggests that the market valuation of the company's equity remained closely aligned with its book value throughout the analyzed period.
- Capital Structure and Valuation Drivers
- Enterprise Value closely mirrors the movement of Total Equity and Debt, indicating that the fluctuations in overall company value were driven primarily by changes in equity valuation rather than significant shifts in the debt profile. In 2019, while Total Equity and Debt stood at 57,446 million USD, the Enterprise Value was slightly lower at 57,004 million USD, suggesting that cash holdings were utilized to offset the total debt calculation within the EV formula.
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