Boeing Co., current enterprise value calculation

Current share price (P)	$168.17
No. shares of common stock outstanding	750,074,411
US$ in millions
Common equity (market value)¹	126,140)
Add: Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 (per books)	6)
Add: Noncontrolling interests (per books)	(6)
Total equity	126,140)
Add: Short-term debt and current portion of long-term debt (per books)	1,278)
Add: Long-term debt, excluding current portion (per books)	52,586)
Total equity and debt	180,004)
Less: Cash and cash equivalents	13,801)
Less: Short-term and other investments	12,481)
Enterprise value (EV)	153,722)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 168.17 × 750,074,411

Boeing Co., EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$175.87	$211.04	$211.17	$200.24	$195.84
No. shares of common stock outstanding¹	750,074,411	610,135,205	598,239,585	582,999,765	582,996,860
US$ in millions
Common equity (market value)³	131,916)	128,763)	126,330)	116,740)	114,174)
Add: Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 (book value)	6)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	(6)	5)	35)	153)	241)
Total equity	131,916)	128,768)	126,365)	116,893)	114,415)
Add: Short-term debt and current portion of long-term debt (book value)	1,278)	5,204)	5,190)	1,296)	1,693)
Add: Long-term debt, excluding current portion (book value)	52,586)	47,103)	51,811)	56,806)	61,890)
Total equity and debt	185,780)	181,075)	183,366)	174,995)	177,998)
Less: Cash and cash equivalents	13,801)	12,691)	14,614)	8,052)	7,752)
Less: Short-term and other investments	12,481)	3,274)	2,606)	8,192)	17,838)
Enterprise value (EV)	159,498)	165,110)	166,146)	158,751)	152,408)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Boeing Co. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 175.87 × 750,074,411

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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.	Boeing Co. EV decreased from 2022 to 2023 and from 2023 to 2024.

Boeing Co. (NYSE:BA)

Enterprise Value (EV)