Alphabet Inc., current enterprise value calculation

Current share price (P)	$186.64
No. shares of common stock outstanding	12,190,000,000
US$ in millions
Common equity (market value)¹	2,275,142)
Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (per books)	—)
Total equity	2,275,142)
Add: Current portion of finance lease liabilities (per books)	235)
Add: Short-term debt (per books)	3,299)
Add: Long-term debt, excluding current portion (per books)	10,883)
Add: Long-term portion of finance lease liabilities (per books)	1,442)
Total equity and debt	2,291,001)
Less: Cash, cash equivalents, and marketable securities	95,657)
Enterprise value (EV)	2,195,344)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 186.64 × 12,190,000,000

Alphabet Inc., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$193.30	$141.80	$105.22	$148.04	$103.50
No. shares of common stock outstanding¹	12,190,000,000	12,433,000,000	12,807,000,000	13,219,426,420	13,482,733,300
US$ in millions
Common equity (market value)³	2,356,327)	1,762,999)	1,347,553)	1,957,004)	1,395,463)
Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	2,356,327)	1,762,999)	1,347,553)	1,957,004)	1,395,463)
Add: Current portion of finance lease liabilities (book value)	235)	—)	—)	—)	—)
Add: Short-term debt (book value)	3,299)	1,363)	298)	113)	1,100)
Add: Long-term debt, excluding current portion (book value)	10,883)	13,253)	14,701)	14,817)	13,932)
Add: Long-term portion of finance lease liabilities (book value)	1,442)	—)	—)	—)	—)
Total equity and debt	2,372,186)	1,777,615)	1,362,552)	1,971,934)	1,410,495)
Less: Cash, cash equivalents, and marketable securities	95,657)	110,916)	113,762)	139,649)	136,694)
Enterprise value (EV)	2,276,529)	1,666,699)	1,248,790)	1,832,285)	1,273,801)

¹ Data adjusted for splits and stock dividends.

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

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 193.30 × 12,190,000,000

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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.	Alphabet Inc. EV increased from 2022 to 2023 and from 2023 to 2024.

Alphabet Inc. (NASDAQ:GOOG)

Enterprise Value (EV)