Bristol-Myers Squibb Co., current enterprise value calculation

Current share price (P)	$55.79
No. shares of common stock outstanding	2,028,176,674
US$ in millions
Common equity (market value)¹	113,152)
Add: Preferred stock, $2 convertible series, par value $1 per share (per books)	—)
Add: Noncontrolling interest (per books)	55)
Total equity	113,207)
Add: Short-term debt obligations (per books)	3,119)
Add: Long-term debt, excluding current portion (per books)	36,653)
Total equity and debt	152,979)
Less: Cash and cash equivalents	11,464)
Less: Marketable debt securities	816)
Enterprise value (EV)	140,699)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 55.79 × 2,028,176,674

Bristol-Myers Squibb Co., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$48.71	$72.25	$67.14	$60.00	$63.97
No. shares of common stock outstanding¹	2,022,193,411	2,098,775,978	2,179,712,820	2,240,475,153	2,257,510,796
US$ in millions
Common equity (market value)³	98,501)	151,637)	146,346)	134,429)	144,413)
Add: Preferred stock, $2 convertible series, par value $1 per share (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interest (book value)	55)	57)	60)	60)	100)
Total equity	98,556)	151,694)	146,406)	134,489)	144,513)
Add: Short-term debt obligations (book value)	3,119)	4,264)	4,948)	2,340)	3,346)
Add: Long-term debt, excluding current portion (book value)	36,653)	35,056)	39,605)	48,336)	43,387)
Total equity and debt	138,328)	191,014)	190,959)	185,165)	191,246)
Less: Cash and cash equivalents	11,464)	9,123)	13,979)	14,546)	12,346)
Less: Marketable debt securities	816)	130)	2,987)	1,285)	3,047)
Enterprise value (EV)	126,048)	181,761)	173,993)	169,334)	175,853)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Bristol-Myers Squibb Co. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 48.71 × 2,022,193,411

Download chart

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.	Bristol-Myers Squibb Co. EV increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Bristol-Myers Squibb Co. (NYSE:BMY)

Enterprise Value (EV)