Johnson & Johnson, current enterprise value calculation

Current share price (P)	$144.47
No. shares of common stock outstanding	2,407,622,972
US$ in millions
Common equity (market value)¹	347,829)
Add: Preferred stock, without par value, unissued (per books)	—)
Total equity	347,829)
Add: Loans and notes payable (per books)	3,451)
Add: Long-term debt, excluding current portion (per books)	25,881)
Total equity and debt	377,161)
Less: Cash and cash equivalents	21,859)
Less: Marketable securities	1,068)
Enterprise value (EV)	354,234)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 144.47 × 2,407,622,972

Johnson & Johnson, EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 29, 2019
Share price^1, 2	$156.55	$158.24	$166.19	$161.87	$149.14
No. shares of common stock outstanding¹	2,408,767,228	2,604,286,303	2,629,268,158	2,628,679,824	2,634,721,257
US$ in millions
Common equity (market value)³	377,093)	412,102)	436,958)	425,504)	392,942)
Add: Preferred stock, without par value, unissued (book value)	—)	—)	—)	—)	—)
Total equity	377,093)	412,102)	436,958)	425,504)	392,942)
Add: Loans and notes payable (book value)	3,451)	12,771)	3,766)	2,631)	1,202)
Add: Long-term debt, excluding current portion (book value)	25,881)	26,888)	29,985)	32,635)	26,494)
Total equity and debt	406,425)	451,761)	470,709)	460,770)	420,638)
Less: Cash and cash equivalents	21,859)	14,127)	14,487)	13,985)	17,305)
Less: Marketable securities	1,068)	9,392)	17,121)	11,200)	1,982)
Enterprise value (EV)	383,498)	428,242)	439,101)	435,585)	401,351)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Johnson & Johnson Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 156.55 × 2,408,767,228

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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 & Johnson EV decreased from 2021 to 2022 and from 2022 to 2023.

Johnson & Johnson (NYSE:JNJ)

Enterprise Value (EV)