Medtronic PLC, current enterprise value calculation

Current share price (P)	$91.12
No. shares of common stock outstanding	1,282,490,493
US$ in millions
Common equity (market value)¹	116,861)
Add: Noncontrolling interests (per books)	206)
Total equity	117,067)
Add: Current debt obligations (per books)	1,092)
Add: Long-term debt (per books)	23,932)
Total equity and debt	142,091)
Less: Cash and cash equivalents	1,284)
Less: Investments	6,721)
Enterprise value (EV)	134,086)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 91.12 × 1,282,490,493

Medtronic PLC, EV calculation

	Apr 26, 2024	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019
Share price^1, 2	$80.17	$87.41	$88.67	$124.93	$93.91	$99.38
No. shares of common stock outstanding¹	1,282,269,783	1,330,405,428	1,328,709,310	1,343,904,180	1,341,298,882	1,341,156,703
US$ in millions
Common equity (market value)³	102,800)	116,291)	117,817)	167,894)	125,961)	133,284)
Add: Noncontrolling interests (book value)	206)	182)	171)	174)	135)	121)
Total equity	103,006)	116,473)	117,988)	168,068)	126,096)	133,405)
Add: Current debt obligations (book value)	1,092)	20)	3,742)	11)	2,776)	838)
Add: Long-term debt (book value)	23,932)	24,344)	20,372)	26,378)	22,021)	24,486)
Total equity and debt	128,030)	140,837)	142,102)	194,457)	150,893)	158,729)
Less: Cash and cash equivalents	1,284)	1,543)	3,714)	3,593)	4,140)	4,393)
Less: Investments	6,721)	6,416)	6,859)	7,224)	6,808)	5,455)
Enterprise value (EV)	120,025)	132,878)	131,529)	183,640)	139,945)	148,881)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Medtronic PLC Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 80.17 × 1,282,269,783

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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.	Medtronic PLC EV increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Medtronic PLC (NYSE:MDT)

Enterprise Value (EV)