Danaher Corp., current enterprise value calculation

Current share price (P)	$238.36
No. shares of common stock outstanding	722,275,141
US$ in millions
Common equity (market value)¹	172,162)
Add: Preferred stock, no par value (per books)	—)
Add: Noncontrolling interests (per books)	4)
Total equity	172,166)
Add: Notes payable and current portion of long-term debt (per books)	1,695)
Add: Long-term debt, excluding current portion (per books)	16,707)
Total equity and debt	190,568)
Less: Cash and equivalents	5,864)
Enterprise value (EV)	184,704)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 238.36 × 722,275,141

Danaher Corp., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$250.65	$250.11	$262.39	$219.26	$161.88
No. shares of common stock outstanding¹	739,701,725	728,576,886	715,352,586	712,204,198	696,237,113
US$ in millions
Common equity (market value)³	185,406)	182,224)	187,701)	156,158)	112,707)
Add: Preferred stock, no par value (book value)	—)	1,668)	3,268)	3,268)	1,600)
Add: Noncontrolling interests (book value)	4)	8)	10)	11)	11)
Total equity	185,410)	183,900)	190,979)	159,437)	114,318)
Add: Notes payable and current portion of long-term debt (book value)	1,695)	591)	8)	11)	212)
Add: Long-term debt, excluding current portion (book value)	16,707)	19,086)	22,168)	21,193)	21,517)
Total equity and debt	203,812)	203,577)	213,155)	180,641)	136,047)
Less: Cash and equivalents	5,864)	5,995)	2,586)	6,035)	19,912)
Enterprise value (EV)	197,948)	197,582)	210,569)	174,606)	116,135)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Danaher Corp. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 250.65 × 739,701,725

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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.	Danaher Corp. EV decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Danaher Corp. (NYSE:DHR)

Enterprise Value (EV)