Vertex Pharmaceuticals Inc., current enterprise value calculation

Current share price (P)	$480.33
No. shares of common stock outstanding	257,529,290
US$ in thousands
Common equity (market value)¹	123,699,044)
Add: Preferred stock, $0.01 par value; none issued and outstanding (per books)	—)
Total equity	123,699,044)
Add: Current finance lease liabilities (per books)	50,600)
Add: Long-term finance lease liabilities (per books)	376,100)
Total equity and debt	124,125,744)
Less: Cash and cash equivalents	10,369,100)
Less: Marketable securities	849,200)
Enterprise value (EV)	112,907,444)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 480.33 × 257,529,290

Vertex Pharmaceuticals Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$426.29	$297.40	$244.24	$210.50	$240.09
No. shares of common stock outstanding¹	258,307,816	257,091,441	254,576,691	259,960,062	259,268,593
US$ in thousands
Common equity (market value)³	110,114,039)	76,458,995)	62,177,811)	54,721,593)	62,247,796)
Add: Preferred stock, $0.01 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	110,114,039)	76,458,995)	62,177,811)	54,721,593)	62,247,796)
Add: Current finance lease liabilities (book value)	50,600)	40,800)	46,900)	42,434)	38,794)
Add: Long-term finance lease liabilities (book value)	376,100)	430,800)	509,800)	539,042)	538,576)
Total equity and debt	110,540,739)	76,930,595)	62,734,511)	55,303,069)	62,825,166)
Less: Cash and cash equivalents	10,369,100)	10,504,000)	6,795,000)	5,988,187)	3,109,322)
Less: Marketable securities	849,200)	274,500)	729,900)	670,710)	698,972)
Enterprise value (EV)	99,322,439)	66,152,095)	55,209,611)	48,644,172)	59,016,872)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 426.29 × 258,307,816

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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.	Vertex Pharmaceuticals Inc. EV increased from 2021 to 2022 and from 2022 to 2023.

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Enterprise Value (EV)