Johnson & Johnson, current enterprise value calculation

Current share price (P)	$159.68
No. shares of common stock outstanding	2,407,616,693
US$ in millions
Common equity (market value)¹	384,448)
Add: Preferred stock, without par value, unissued (per books)	—)
Total equity	384,448)
Add: Loans and notes payable (per books)	5,983)
Add: Long-term debt, excluding current portion (per books)	30,651)
Total equity and debt	421,082)
Less: Cash and cash equivalents	24,105)
Less: Marketable securities	417)
Enterprise value (EV)	396,560)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 159.68 × 2,407,616,693

Johnson & Johnson, EV calculation

	Dec 29, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$157.25	$156.55	$158.24	$166.19	$161.87
No. shares of common stock outstanding¹	2,407,616,693	2,408,767,228	2,604,286,303	2,629,268,158	2,628,679,824
US$ in millions
Common equity (market value)³	378,598)	377,093)	412,102)	436,958)	425,504)
Add: Preferred stock, without par value, unissued (book value)	—)	—)	—)	—)	—)
Total equity	378,598)	377,093)	412,102)	436,958)	425,504)
Add: Loans and notes payable (book value)	5,983)	3,451)	12,771)	3,766)	2,631)
Add: Long-term debt, excluding current portion (book value)	30,651)	25,881)	26,888)	29,985)	32,635)
Total equity and debt	415,232)	406,425)	451,761)	470,709)	460,770)
Less: Cash and cash equivalents	24,105)	21,859)	14,127)	14,487)	13,985)
Less: Marketable securities	417)	1,068)	9,392)	17,121)	11,200)
Enterprise value (EV)	390,710)	383,498)	428,242)	439,101)	435,585)

¹ Data adjusted for splits and stock dividends.

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

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 157.25 × 2,407,616,693

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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 2022 to 2023 but then slightly increased from 2023 to 2024.

Johnson & Johnson (NYSE:JNJ)

Enterprise Value (EV)