Western Digital Corp., current enterprise value calculation

Current share price (P)	$57.32
No. shares of common stock outstanding	325,859,745
US$ in millions
Common equity (market value)¹	18,678)
Add: Convertible preferred stock, $0.01 par value (per books)	876)
Total equity	19,554)
Add: Current portion of long-term debt (per books)	1,213)
Add: Long-term debt, less current portion (per books)	5,857)
Total equity and debt	26,624)
Less: Cash and cash equivalents	2,023)
Enterprise value (EV)	24,601)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 57.32 × 325,859,745

Western Digital Corp., EV calculation

	Jun 30, 2023	Jul 1, 2022	Jul 2, 2021	Jul 3, 2020	Jun 28, 2019	Jun 29, 2018
Share price^1, 2	$40.42	$47.91	$63.24	$37.84	$52.66	$63.81
No. shares of common stock outstanding¹	321,895,961	314,492,541	308,748,049	302,525,787	296,003,875	291,356,809
US$ in millions
Common equity (market value)³	13,011)	15,067)	19,525)	11,448)	15,588)	18,591)
Add: Convertible preferred stock, $0.01 par value (book value)	876)	—)	—)	—)	—)	—)
Total equity	13,887)	15,067)	19,525)	11,448)	15,588)	18,591)
Add: Current portion of long-term debt (book value)	1,213)	—)	251)	286)	276)	179)
Add: Long-term debt, less current portion (book value)	5,857)	7,022)	8,474)	9,289)	10,246)	10,993)
Total equity and debt	20,957)	22,089)	28,250)	21,023)	26,110)	29,763)
Less: Cash and cash equivalents	2,023)	2,327)	3,370)	3,048)	3,455)	5,005)
Enterprise value (EV)	18,934)	19,762)	24,880)	17,975)	22,655)	24,758)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 40.42 × 321,895,961

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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.	Western Digital Corp. EV decreased from 2021 to 2022 and from 2022 to 2023.

Western Digital Corp. (NASDAQ:WDC)

Enterprise Value (EV)