Kinder Morgan Inc., current enterprise value calculation

Current share price (P)	$15.71
No. shares of common stock outstanding	2,261,487,090
US$ in millions
Common equity (market value)¹	35,528)
Add: Preferred stock, $0.01 par value, 9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference (per books)	—)
Add: Noncontrolling interests (per books)	344)
Total equity	35,872)
Add: Current portion of debt (per books)	2,477)
Add: Long-term debt, excluding current portion (per books)	31,915)
Total equity and debt	70,264)
Less: Cash and cash equivalents	185)
Less: Restricted deposits	24)
Less: Marketable securities at fair value	925)
Enterprise value (EV)	69,130)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 15.71 × 2,261,487,090

Kinder Morgan Inc., EV calculation

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Share price^1, 2	$21.81	$18.02	$17.24	$22.48	$15.62
No. shares of common stock outstanding¹	2,265,063,459	2,263,656,419	2,206,066,684	2,232,438,943	2,231,555,976
US$ in millions
Common equity (market value)³	49,401)	40,791)	38,033)	50,185)	34,857)
Add: Preferred stock, $0.01 par value, 9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	344)	853)	1,488)	371)	284)
Total equity	49,745)	41,644)	39,521)	50,556)	35,141)
Add: Current portion of debt (book value)	2,477)	3,388)	2,828)	2,696)	821)
Add: Long-term debt, excluding current portion (book value)	31,915)	33,936)	35,015)	37,354)	42,406)
Total equity and debt	84,137)	78,968)	77,364)	90,606)	78,368)
Less: Cash and cash equivalents	185)	3,280)	264)	684)	229)
Less: Restricted deposits	24)	51)	62)	103)	60)
Less: Marketable securities at fair value	925)	—)	—)	—)	—)
Enterprise value (EV)	83,003)	75,637)	77,038)	89,819)	78,079)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Kinder Morgan Inc. Annual Report.

³ 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 21.81 × 2,265,063,459

Download chart

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.	Kinder Morgan Inc. EV decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Kinder Morgan Inc. (NYSE:KMI)

Enterprise Value (EV)