Meta Platforms Inc., current enterprise value calculation

Current share price (P)	$561.09
No. shares of common stock outstanding	2,524,488,533
US$ in millions
Common equity (market value)¹	1,416,465)
Total equity	1,416,465)
Add: Finance lease liabilities, current (per books)	90)
Add: Long-term debt (per books)	18,385)
Add: Finance lease liabilities, non-current (per books)	600)
Total equity and debt	1,435,540)
Less: Cash and cash equivalents	41,862)
Less: Marketable securities	23,541)
Enterprise value (EV)	1,370,137)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 561.09 × 2,524,488,533

Meta Platforms Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$474.99	$188.77	$237.76	$265.00	$209.53
No. shares of common stock outstanding¹	2,549,405,106	2,592,639,548	2,721,941,960	2,847,669,951	2,850,450,659
US$ in millions
Common equity (market value)³	1,210,942)	489,413)	647,169)	754,633)	597,255)
Total equity	1,210,942)	489,413)	647,169)	754,633)	597,255)
Add: Finance lease liabilities, current (book value)	90)	129)	75)	54)	55)
Add: Long-term debt (book value)	18,385)	9,923)	—)	—)	—)
Add: Finance lease liabilities, non-current (book value)	600)	558)	506)	469)	418)
Total equity and debt	1,230,017)	500,023)	647,750)	755,156)	597,728)
Less: Cash and cash equivalents	41,862)	14,681)	16,601)	17,576)	19,079)
Less: Marketable securities	23,541)	26,057)	31,397)	44,378)	35,776)
Enterprise value (EV)	1,164,614)	459,285)	599,752)	693,202)	542,873)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 474.99 × 2,549,405,106

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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.	Meta Platforms Inc. EV decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Meta Platforms Inc. (NASDAQ:META)

Enterprise Value (EV)