Allergan PLC, current enterprise value calculation

Current share price (P)	$192.99
No. shares of common stock outstanding	329,805,791
US$ in thousands
Common equity (market value)¹	63,649,220)
Add: Preferred shares, $0.0001 par value per share (per books)	—)
Add: Noncontrolling interest (per books)	22,800)
Total equity	63,672,020)
Add: Current portion of long-term debt and capital leases (per books)	4,532,500)
Add: Long-term debt and capital leases, excluding current portion (per books)	18,116,500)
Total equity and debt	86,321,020)
Less: Cash and cash equivalents	2,503,300)
Less: Marketable securities	3,411,600)
Enterprise value (EV)	80,406,120)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 192.99 × 329,805,791

Allergan PLC, EV calculation

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Share price^1, 2	$198.00	$139.07	$164.04	$245.37	$298.07
No. shares of common stock outstanding¹	329,002,015	332,614,474	330,320,420	335,224,713	394,687,384
US$ in thousands
Common equity (market value)³	65,142,399)	46,256,695)	54,185,762)	82,254,088)	117,644,469)
Add: Preferred shares, $0.0001 par value per share (book value)	—)	—)	4,929,700)	4,929,700)	4,929,700)
Add: Noncontrolling interest (book value)	22,800)	16,900)	16,000)	7,800)	(2,100)
Total equity	65,165,199)	46,273,595)	59,131,462)	87,191,588)	122,572,069)
Add: Current portion of long-term debt and capital leases (book value)	4,532,500)	868,300)	4,231,800)	2,797,900)	2,432,800)
Add: Long-term debt and capital leases, excluding current portion (book value)	18,116,500)	22,929,400)	25,843,500)	29,970,800)	40,293,400)
Total equity and debt	87,814,199)	70,071,295)	89,206,762)	119,960,288)	165,298,269)
Less: Cash and cash equivalents	2,503,300)	880,400)	1,817,200)	1,724,000)	1,096,000)
Less: Marketable securities	3,411,600)	1,026,900)	4,632,100)	11,501,500)	9,300)
Enterprise value (EV)	81,899,299)	68,163,995)	82,757,462)	106,734,788)	164,192,969)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Allergan PLC Annual Report.

³ 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 198.00 × 329,002,015

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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.	Allergan PLC EV decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.

Allergan PLC (NYSE:AGN)

Enterprise Value (EV)