Norfolk Southern Corp., current enterprise value calculation

Current share price (P)	$262.53
No. shares of common stock outstanding	238,332,514
US$ in millions
Common equity (market value)¹	62,569)
Total equity	62,569)
Add: Short-term debt (per books)	—)
Add: Current maturities of long-term debt (per books)	553)
Add: Long-term debt, excluding current maturities (per books)	13,287)
Total equity and debt	76,409)
Less: Cash and cash equivalents	839)
Enterprise value (EV)	75,570)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 262.53 × 238,332,514

Norfolk Southern Corp., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$270.42	$245.57	$212.68	$171.46	$138.61
No. shares of common stock outstanding¹	239,777,444	251,911,634	257,844,180	267,455,326	283,997,242
US$ in millions
Common equity (market value)³	64,841)	61,862)	54,838)	45,858)	39,365)
Total equity	64,841)	61,862)	54,838)	45,858)	39,365)
Add: Short-term debt (book value)	—)	—)	—)	—)	100)
Add: Current maturities of long-term debt (book value)	553)	579)	316)	585)	600)
Add: Long-term debt, excluding current maturities (book value)	13,287)	12,102)	11,880)	10,560)	9,136)
Total equity and debt	78,681)	74,543)	67,034)	57,003)	49,201)
Less: Cash and cash equivalents	839)	1,115)	580)	358)	690)
Enterprise value (EV)	77,842)	73,428)	66,454)	56,645)	48,511)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Norfolk Southern Corp. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 270.42 × 239,777,444

Download chart

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.	Norfolk Southern Corp. EV increased from 2019 to 2020 and from 2020 to 2021.

Norfolk Southern Corp. (NYSE:NSC)

Enterprise Value (EV)