AbbVie Inc., current enterprise value calculation

Current share price (P)	$166.57
No. shares of common stock outstanding	1,767,140,323
US$ in millions
Common equity (market value)¹	294,353)
Add: Noncontrolling interest (per books)	37)
Total equity	294,390)
Add: Short-term borrowings (per books)	—)
Add: Current portion of long-term debt and finance lease obligations (per books)	7,191)
Add: Long-term debt and finance lease obligations, excluding current portion (per books)	52,194)
Total equity and debt	353,775)
Less: Cash and equivalents	12,814)
Less: Short-term investments	2)
Enterprise value (EV)	340,959)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 166.57 × 1,767,140,323

AbbVie Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$175.75	$151.31	$144.03	$105.01	$94.96
No. shares of common stock outstanding¹	1,766,473,359	1,769,399,971	1,768,753,829	1,765,881,690	1,479,156,683
US$ in millions
Common equity (market value)³	310,458)	267,728)	254,754)	185,435)	140,461)
Add: Noncontrolling interest (book value)	37)	33)	28)	21)	—)
Total equity	310,495)	267,761)	254,782)	185,456)	140,461)
Add: Short-term borrowings (book value)	—)	1)	14)	34)	—)
Add: Current portion of long-term debt and finance lease obligations (book value)	7,191)	4,135)	12,481)	8,468)	3,753)
Add: Long-term debt and finance lease obligations, excluding current portion (book value)	52,194)	59,135)	64,189)	77,554)	62,975)
Total equity and debt	369,880)	331,032)	331,466)	271,512)	207,189)
Less: Cash and equivalents	12,814)	9,201)	9,746)	8,449)	39,924)
Less: Short-term investments	2)	28)	84)	30)	—)
Enterprise value (EV)	357,064)	321,803)	321,636)	263,033)	167,265)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 175.75 × 1,766,473,359

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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.	AbbVie Inc. EV increased from 2021 to 2022 and from 2022 to 2023.

AbbVie Inc. (NYSE:ABBV)

Enterprise Value (EV)