Ford Motor Co., current enterprise value calculation

Current share price (P)	$11.05
No. shares of common stock outstanding	3,974,288,593
US$ in millions
Common equity (market value)¹	43,916)
Add: Equity attributable to noncontrolling interests (per books)	25)
Total equity	43,941)
Add: Debt payable within one year (per books)	49,669)
Add: Long-term debt payable after one year (per books)	99,562)
Total equity and debt	193,172)
Less: Cash and cash equivalents	24,862)
Less: Marketable securities	15,309)
Less: Ford Credit finance receivables, net of allowance for credit losses	46,425)
Enterprise value (EV)	106,576)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 11.05 × 3,974,288,593

Ford Motor Co., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$12.80	$13.23	$17.96	$11.51	$8.31
No. shares of common stock outstanding¹	3,973,633,108	3,986,181,861	4,004,247,552	3,978,695,017	3,964,930,325
US$ in millions
Common equity (market value)³	50,863)	52,737)	71,916)	45,795)	32,949)
Add: Equity attributable to noncontrolling interests (book value)	25)	(75)	103)	121)	45)
Total equity	50,888)	52,662)	72,019)	45,916)	32,994)
Add: Debt payable within one year (book value)	49,669)	50,164)	49,692)	51,343)	53,946)
Add: Long-term debt payable after one year (book value)	99,562)	88,805)	88,400)	110,341)	101,361)
Total equity and debt	200,119)	191,631)	210,111)	207,600)	188,301)
Less: Cash and cash equivalents	24,862)	25,134)	20,540)	25,243)	17,504)
Less: Marketable securities	15,309)	18,936)	29,053)	24,718)	17,147)
Less: Ford Credit finance receivables, net of allowance for credit losses	46,425)	38,720)	32,543)	42,401)	53,651)
Enterprise value (EV)	113,523)	108,841)	127,975)	115,238)	99,999)

¹ Data adjusted for splits and stock dividends.

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

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 12.80 × 3,973,633,108

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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.	Ford Motor Co. EV decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Ford Motor Co. (NYSE:F)

Enterprise Value (EV)