Amazon.com Inc., current enterprise value calculation

Current share price (P)	$201.70
No. shares of common stock outstanding	10,515,011,008
US$ in millions
Common equity (market value)¹	2,120,878)
Add: Preferred stock, $0.01 par value; no shares issued or outstanding (per books)	—)
Total equity	2,120,878)
Add: Current portion of lease liabilities, finance leases (per books)	2,032)
Add: Current portion of long-term debt (per books)	8,494)
Add: Long-term lease liabilities, finance leases, excluding current portion (per books)	10,077)
Add: Long-term debt, excluding current portion (per books)	58,314)
Total equity and debt	2,199,795)
Less: Cash and cash equivalents	73,387)
Less: Marketable securities	13,393)
Enterprise value (EV)	2,113,015)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 201.70 × 10,515,011,008

Amazon.com Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$171.81	$103.39	$157.64	$165.63	$100.44
No. shares of common stock outstanding¹	10,387,381,291	10,247,259,757	10,176,888,200	10,071,294,860	9,956,208,880
US$ in millions
Common equity (market value)³	1,784,656)	1,059,464)	1,604,285)	1,668,109)	1,000,002)
Add: Preferred stock, $0.01 par value; no shares issued or outstanding (book value)	—)	—)	—)	—)	—)
Total equity	1,784,656)	1,059,464)	1,604,285)	1,668,109)	1,000,002)
Add: Current portion of lease liabilities, finance leases (book value)	2,032)	4,397)	8,083)	10,374)	9,884)
Add: Current portion of long-term debt (book value)	8,494)	2,999)	1,491)	1,155)	1,305)
Add: Long-term lease liabilities, finance leases, excluding current portion (book value)	10,077)	11,386)	15,670)	18,060)	17,095)
Add: Long-term debt, excluding current portion (book value)	58,314)	67,150)	48,744)	31,816)	23,414)
Total equity and debt	1,863,573)	1,145,396)	1,678,273)	1,729,514)	1,051,700)
Less: Cash and cash equivalents	73,387)	53,888)	36,220)	42,122)	36,092)
Less: Marketable securities	13,393)	16,138)	59,829)	42,274)	18,929)
Enterprise value (EV)	1,776,793)	1,075,370)	1,582,224)	1,645,118)	996,679)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 171.81 × 10,387,381,291

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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.	Amazon.com Inc. EV decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Amazon.com Inc. (NASDAQ:AMZN)

Enterprise Value (EV)