Illumina Inc., current enterprise value calculation

Current share price (P)	$408.14
No. shares of common stock outstanding	156,300,000
US$ in millions
Common equity (market value)¹	63,792)
Add: Preferred stock, $0.01 par value; no shares issued and outstanding (per books)	—)
Add: Noncontrolling interests (per books)	—)
Total equity	63,792)
Add: Build-to-suit lease liability (per books)	—)
Add: Long-term debt, current portion (per books)	511)
Add: Long-term debt, excluding current portion (per books)	673)
Total equity and debt	64,976)
Less: Cash and cash equivalents	1,810)
Less: Short-term investments	1,662)
Enterprise value (EV)	61,504)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 408.14 × 156,300,000

Illumina Inc., EV calculation

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Share price^1, 2	$494.24	$296.00	$292.20	$220.44	$164.46
No. shares of common stock outstanding¹	145,900,000	147,000,000	147,000,000	147,000,000	146,300,000
US$ in millions
Common equity (market value)³	72,110)	43,512)	42,953)	32,405)	24,060)
Add: Preferred stock, $0.01 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	—)	—)	87)	—)	73)
Total equity	72,110)	43,512)	43,040)	32,405)	24,134)
Add: Build-to-suit lease liability (book value)	—)	—)	—)	144)	223)
Add: Long-term debt, current portion (book value)	511)	—)	1,107)	10)	1)
Add: Long-term debt, excluding current portion (book value)	673)	1,141)	890)	1,182)	1,048)
Total equity and debt	73,294)	44,653)	45,037)	33,741)	25,405)
Less: Cash and cash equivalents	1,810)	2,042)	1,144)	1,225)	735)
Less: Short-term investments	1,662)	1,372)	2,368)	920)	824)
Enterprise value (EV)	69,822)	41,239)	41,525)	31,596)	23,847)

¹ Data adjusted for splits and stock dividends.

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

³ 2020 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 494.24 × 145,900,000

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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.	Illumina Inc. EV decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

Illumina Inc. (NASDAQ:ILMN)

Enterprise Value (EV)