Johnson Controls International plc, current enterprise value calculation

Current share price (P)	$60.47
No. shares of common stock outstanding	673,675,568
US$ in millions
Common equity (market value)¹	40,737)
Add: Preferred shares, par value $0.01; none outstanding (per books)	—)
Add: Noncontrolling interests (per books)	1,149)
Total equity	41,886)
Add: Short-term debt (per books)	385)
Add: Current portion of long-term debt (per books)	645)
Add: Long-term debt, less current portion (per books)	7,818)
Total equity and debt	50,734)
Less: Cash and cash equivalents	835)
Enterprise value (EV)	49,899)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 60.47 × 673,675,568

Johnson Controls International plc, EV calculation

	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Share price^1, 2	$54.10	$66.40	$78.33	$45.36	$42.23	$33.34
No. shares of common stock outstanding¹	680,673,839	686,703,889	704,332,395	723,907,803	771,419,761	924,058,960
US$ in millions
Common equity (market value)³	36,824)	45,597)	55,170)	32,836)	32,577)	30,808)
Add: Preferred shares, par value $0.01; none outstanding (book value)	—)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	1,149)	1,134)	1,191)	1,086)	1,063)	1,294)
Total equity	37,973)	46,731)	56,361)	33,922)	33,640)	32,102)
Add: Short-term debt (book value)	385)	669)	8)	31)	10)	1,315)
Add: Current portion of long-term debt (book value)	645)	865)	226)	262)	501)	26)
Add: Long-term debt, less current portion (book value)	7,818)	7,426)	7,506)	7,526)	6,708)	9,654)
Total equity and debt	46,821)	55,691)	64,101)	41,741)	40,859)	43,097)
Less: Cash and cash equivalents	835)	2,031)	1,336)	1,951)	2,805)	200)
Enterprise value (EV)	45,986)	53,660)	62,765)	39,790)	38,054)	42,897)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Johnson Controls International plc Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 54.10 × 680,673,839

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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.	Johnson Controls International plc EV decreased from 2021 to 2022 and from 2022 to 2023.

Johnson Controls International plc (NYSE:JCI)

Enterprise Value (EV)