Enterprise Value (EV)
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- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Selected Financial Data since 2013
- Operating Profit Margin since 2013
- Return on Equity (ROE) since 2013
- Price to Operating Profit (P/OP) since 2013
- Analysis of Revenues
- Analysis of Debt
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Current Enterprise Value (EV)
Twitter Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in thousands | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.000005 par value; none issued and outstanding (per books) | |
| Total equity | |
| Add: Convertible notes, short-term (per books) | |
| Add: Finance lease liabilities, short-term (per books) | |
| Add: Convertible notes, long-term (per books) | |
| Add: Senior notes, long-term (per books) | |
| Add: Finance lease liabilities, long-term (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2021-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Twitter Inc., EV calculation
Based on: 10-K (reporting date: 2021-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Twitter Inc. Annual Report.
3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The annual financial data reveals several key trends regarding the capital structure and valuation metrics over the five-year period ending December 31, 2021.
- Common Equity and Total Equity
- Both common equity (market value) and total equity exhibit a largely consistent trajectory as they hold identical values throughout the reported years. The figures start at approximately $24.5 billion in 2017, slightly decrease in 2018 to about $23.6 billion, then increase notably to $30.3 billion in 2019. A significant surge is observed in 2020, where equity nearly doubles to $57.3 billion before dropping sharply to $29.0 billion in 2021. This pattern suggests a pronounced fluctuation in equity value, potentially driven by changes in market conditions, capital raises, or share price volatility during this period.
- Total Equity and Debt
- The combined total of equity and debt mirrors the equity trend but with values consistently higher due to the inclusion of debt. This metric increases from roughly $26.3 billion in 2017 and 2018 to $32.9 billion in 2019, then more than doubles to around $60.8 billion in 2020 before reverting to approximately $33.3 billion in 2021. The large spike in 2020 aligns with the equity increase in the same year, indicating a substantial growth in the company’s overall capitalization, which may include increased borrowing or other liabilities alongside equity gains.
- Enterprise Value (EV)
- Enterprise value follows a pattern that somewhat parallels total equity and debt but remains consistently lower. Beginning at $21.9 billion in 2017, it declines to around $20.1 billion in 2018, then grows steadily to $26.2 billion in 2019 and experiences a sharp rise to $53.3 billion in 2020. This is followed by a decrease to $26.9 billion in 2021. The EV trends suggest significant market valuation changes and possible shifts in operational risk or anticipated cash flows impacting overall company valuation.
Overall, the data demonstrates substantial volatility in both equity and enterprise valuations, with a peak in 2020 across all metrics followed by a pronounced decline in 2021. These fluctuations may reflect broader market dynamics, specific corporate events, or significant changes in capital structure within the period analyzed.