Microsoft Corp., current enterprise value calculation

Current share price (P)	$417.79
No. shares of common stock outstanding	7,434,880,776
US$ in millions
Common equity (market value)¹	3,106,219)
Total equity	3,106,219)
Add: Short-term debt (per books)	6,693)
Add: Current portion of long-term debt (per books)	2,249)
Add: Current finance lease liabilities (per books)	2,349)
Add: Long-term debt, excluding current portion (per books)	42,688)
Add: Long-term finance lease liabilities (per books)	24,796)
Total equity and debt	3,184,994)
Less: Cash and cash equivalents	18,315)
Less: Short-term investments	57,228)
Enterprise value (EV)	3,109,451)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 417.79 × 7,434,880,776

Microsoft Corp., EV calculation

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Share price^1, 2	$422.92	$330.72	$276.41	$286.50	$205.01	$138.06
No. shares of common stock outstanding¹	7,433,038,381	7,429,763,722	7,457,891,872	7,514,891,248	7,567,652,935	7,635,409,400
US$ in millions
Common equity (market value)³	3,143,581)	2,457,171)	2,061,436)	2,153,016)	1,551,445)	1,054,145)
Total equity	3,143,581)	2,457,171)	2,061,436)	2,153,016)	1,551,445)	1,054,145)
Add: Short-term debt (book value)	6,693)	—)	—)	—)	—)	—)
Add: Current portion of long-term debt (book value)	2,249)	5,247)	2,749)	8,072)	3,749)	5,516)
Add: Current finance lease liabilities (book value)	2,349)	1,197)	1,060)	791)	540)	317)
Add: Long-term debt, excluding current portion (book value)	42,688)	41,990)	47,032)	50,074)	59,578)	66,662)
Add: Long-term finance lease liabilities (book value)	24,796)	15,870)	13,842)	11,750)	8,956)	6,257)
Total equity and debt	3,222,356)	2,521,475)	2,126,119)	2,223,703)	1,624,268)	1,132,897)
Less: Cash and cash equivalents	18,315)	34,704)	13,931)	14,224)	13,576)	11,356)
Less: Short-term investments	57,228)	76,558)	90,826)	116,110)	122,951)	122,463)
Enterprise value (EV)	3,146,813)	2,410,213)	2,021,362)	2,093,369)	1,487,741)	999,078)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Microsoft Corp. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 422.92 × 7,433,038,381

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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.	Microsoft Corp. EV increased from 2022 to 2023 and from 2023 to 2024.

Microsoft Corp. (NASDAQ:MSFT)

Enterprise Value (EV)