Enterprise Value (EV)
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Current Enterprise Value (EV)
Corning Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Convertible preferred stock, Series A, par value $100 per share (per books) | |
| Add: Non-controlling interest (per books) | |
| Total equity | |
| Add: Current portion of long-term debt and short-term borrowings (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Corning Inc., EV calculation
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Corning Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common equity (market value)
- The common equity market value showed a consistent upward trend from 2019 to 2021, increasing from 21,359 million US dollars in 2019 to a peak of 34,925 million in 2021. However, in the subsequent years, there was a decline, with the value reducing to 30,197 million in 2022 and further to 27,465 million in 2023.
- Total equity
- Total equity closely followed a similar pattern to common equity, rising from 23,749 million US dollars in 2019 to a high of 35,137 million in 2021, then decreasing in 2022 and 2023 to 30,464 million and 27,782 million respectively. This indicates that the equity base of the company expanded significantly up to 2021 but contracted thereafter.
- Total equity and debt
- This metric increased steadily from 31,489 million US dollars in 2019 to a maximum of 42,181 million in 2021. Post-2021, there was a notable decline, with values dropping to 37,375 million in 2022 and 35,308 million in 2023, suggesting a reduction in the overall capital structure including both equity and debt.
- Enterprise value (EV)
- The enterprise value exhibited a rising trend from 29,055 million US dollars in 2019 to 40,033 million in 2021. Subsequently, EV decreased to 35,704 million in 2022 and continued to decline to 33,529 million in 2023. This downward trend in enterprise value after 2021 may reflect changes in the market valuation of the company’s operations or capital structure adjustments.