Alphabet Inc., current enterprise value calculation

Current share price (P)	$197.55
No. shares of common stock outstanding	12,241,000,000
US$ in millions
Common equity (market value)¹	2,418,210)
Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (per books)	—)
Total equity	2,418,210)
Add: Current portion of long-term notes (per books)	1,000)
Add: Current portion of future finance lease payments, net and other current debt (per books)	363)
Add: Long-term debt, excluding current portion (per books)	13,253)
Total equity and debt	2,432,826)
Less: Cash, cash equivalents, and marketable securities	110,916)
Enterprise value (EV)	2,321,910)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 197.55 × 12,241,000,000

Alphabet Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$141.80	$105.22	$148.04	$103.50	$72.35
No. shares of common stock outstanding¹	12,433,000,000	12,807,000,000	13,219,426,420	13,482,733,300	13,745,721,800
US$ in millions
Common equity (market value)³	1,762,999)	1,347,553)	1,957,004)	1,395,463)	994,503)
Add: Preferred stock, $0.001 par value per share; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	1,762,999)	1,347,553)	1,957,004)	1,395,463)	994,503)
Add: Current portion of long-term notes (book value)	1,000)	—)	—)	999)	—)
Add: Current portion of future finance lease payments, net and other current debt (book value)	363)	298)	113)	101)	115)
Add: Long-term debt, excluding current portion (book value)	13,253)	14,701)	14,817)	13,932)	4,554)
Total equity and debt	1,777,615)	1,362,552)	1,971,934)	1,410,495)	999,172)
Less: Cash, cash equivalents, and marketable securities	110,916)	113,762)	139,649)	136,694)	119,675)
Enterprise value (EV)	1,666,699)	1,248,790)	1,832,285)	1,273,801)	879,497)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 141.80 × 12,433,000,000

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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 decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Alphabet Inc. (NASDAQ:GOOG)

Enterprise Value (EV)