GE Aerospace, current enterprise value calculation

Current share price (P)	$177.56
No. shares of common stock outstanding	1,082,294,004
US$ in millions
Common equity (market value)¹	192,172)
Add: Preferred stock (per books)	—)
Add: Noncontrolling interests (per books)	1,201)
Total equity	193,373)
Add: Short-term borrowings (per books)	1,253)
Add: Long-term borrowings (per books)	19,711)
Total equity and debt	214,337)
Less: Cash, cash equivalents and restricted cash	16,967)
Less: Investment securities	5,706)
Enterprise value (EV)	191,664)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 177.56 × 1,082,294,004

GE Aerospace, EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$136.54	$81.29	$96.83	$93.84	$94.88
No. shares of common stock outstanding¹	1,088,334,304	1,089,286,553	1,099,321,882	1,095,992,750	1,092,529,000
US$ in millions
Common equity (market value)³	148,601)	88,548)	106,447)	102,848)	103,659)
Add: Preferred stock (book value)	—)	6)	6)	6)	6)
Add: Noncontrolling interests (book value)	1,201)	1,216)	1,302)	1,521)	1,545)
Total equity	149,802)	89,770)	107,755)	104,375)	105,210)
Add: Short-term borrowings (book value)	1,253)	3,757)	4,361)	4,778)	23,727)
Add: Long-term borrowings (book value)	19,711)	28,593)	30,824)	70,288)	67,155)
Total equity and debt	170,766)	122,120)	142,940)	179,441)	196,092)
Less: Cash, cash equivalents and restricted cash	16,967)	17,262)	15,770)	36,630)	36,394)
Less: Investment securities	5,706)	7,609)	12,297)	7,319)	9,888)
Enterprise value (EV)	148,093)	97,249)	114,873)	135,492)	149,810)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of GE Aerospace Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 136.54 × 1,088,334,304

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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.	GE Aerospace EV decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

GE Aerospace (NYSE:GE)

Enterprise Value (EV)