Waste Management Inc., current enterprise value calculation

Current share price (P)	$142.68
No. shares of common stock outstanding	414,586,718
US$ in millions
Common equity (market value)¹	59,153)
Add: Noncontrolling interests (per books)	2)
Total equity	59,155)
Add: Current portion of long-term debt (per books)	708)
Add: Long-term debt, less current portion (per books)	12,697)
Total equity and debt	72,560)
Less: Cash and cash equivalents	118)
Enterprise value (EV)	72,442)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 142.68 × 414,586,718

Waste Management Inc., EV calculation

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Share price^1, 2	$142.68	$110.56	$124.23	$98.84	$84.02
No. shares of common stock outstanding¹	414,586,718	423,152,948	424,708,758	423,779,540	433,673,878
US$ in millions
Common equity (market value)³	59,153)	46,784)	52,762)	41,886)	36,437)
Add: Noncontrolling interests (book value)	2)	2)	2)	1)	23)
Total equity	59,155)	46,786)	52,764)	41,887)	36,460)
Add: Current portion of long-term debt (book value)	708)	551)	218)	432)	739)
Add: Long-term debt, less current portion (book value)	12,697)	13,259)	13,280)	9,594)	8,752)
Total equity and debt	72,560)	60,596)	66,262)	51,913)	45,951)
Less: Cash and cash equivalents	118)	553)	3,561)	61)	22)
Enterprise value (EV)	72,442)	60,043)	62,701)	51,852)	45,929)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Waste Management Inc. Annual Report.

³ 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 142.68 × 414,586,718

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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.	Waste Management Inc. EV decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Waste Management Inc. (NYSE:WM)

Enterprise Value (EV)