Dell Technologies Inc., current enterprise value calculation

Current share price (P)	$116.53
No. shares of common stock outstanding	700,459,151
US$ in millions
Common equity (market value)¹	81,625)
Add: Non-controlling interests (per books)	95)
Total equity	81,720)
Add: Short-term debt (per books)	6,982)
Add: Long-term debt (per books)	19,012)
Total equity and debt	107,714)
Less: Cash and cash equivalents	7,366)
Enterprise value (EV)	100,348)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 116.53 × 700,459,151

Dell Technologies Inc., EV calculation

	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Share price^1, 2	$113.00	$39.86	$53.51	$88.99	$38.75	$58.69
No. shares of common stock outstanding¹	713,790,335	731,204,853	760,398,349	762,667,390	739,473,681	718,529,194
US$ in millions
Common equity (market value)³	80,658)	29,146)	40,689)	67,870)	28,655)	42,170)
Add: Non-controlling interests (book value)	95)	97)	105)	5,074)	4,729)	4,823)
Total equity	80,753)	29,243)	40,794)	72,944)	33,384)	46,993)
Add: Short-term debt (book value)	6,982)	6,573)	5,823)	6,362)	7,737)	4,320)
Add: Long-term debt (book value)	19,012)	23,015)	21,131)	41,622)	44,319)	49,201)
Total equity and debt	106,747)	58,831)	67,748)	120,928)	85,440)	100,514)
Less: Cash and cash equivalents	7,366)	8,607)	9,477)	14,201)	9,302)	9,676)
Enterprise value (EV)	99,381)	50,224)	58,271)	106,727)	76,138)	90,838)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Dell Technologies Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 113.00 × 713,790,335

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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.	Dell Technologies Inc. EV decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Dell Technologies Inc. (NYSE:DELL)

Enterprise Value (EV)