Lowe’s Cos. Inc., current enterprise value calculation

Current share price (P)	$259.26
No. shares of common stock outstanding	567,294,169
US$ in millions
Common equity (market value)¹	147,077)
Add: Preferred stock, $5 par value, issued and outstanding: none (per books)	—)
Total equity	147,077)
Add: Short-term borrowings (per books)	—)
Add: Current maturities of long-term debt (per books)	537)
Add: Long-term debt, excluding current maturities (per books)	35,384)
Total equity and debt	182,998)
Less: Cash and cash equivalents	921)
Less: Short-term investments	307)
Enterprise value (EV)	181,770)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 259.26 × 567,294,169

Lowe’s Cos. Inc., EV calculation

	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Share price^1, 2	$254.00	$190.53	$227.60	$181.89	$67.80	$109.91
No. shares of common stock outstanding¹	572,184,243	596,356,261	661,561,297	717,256,852	754,948,648	795,922,717
US$ in millions
Common equity (market value)³	145,335)	113,624)	150,571)	130,462)	51,186)	87,480)
Add: Preferred stock, $5 par value, issued and outstanding: none (book value)	—)	—)	—)	—)	—)	—)
Total equity	145,335)	113,624)	150,571)	130,462)	51,186)	87,480)
Add: Short-term borrowings (book value)	—)	499)	—)	—)	1,941)	722)
Add: Current maturities of long-term debt (book value)	537)	585)	868)	1,112)	597)	1,110)
Add: Long-term debt, excluding current maturities (book value)	35,384)	32,876)	23,859)	20,668)	16,768)	14,391)
Total equity and debt	181,256)	147,584)	175,298)	152,242)	70,492)	103,703)
Less: Cash and cash equivalents	921)	1,348)	1,133)	4,690)	716)	511)
Less: Short-term investments	307)	384)	271)	506)	160)	218)
Enterprise value (EV)	180,028)	145,852)	173,894)	147,046)	69,616)	102,974)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Lowe’s Cos. Inc. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 254.00 × 572,184,243

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.	Lowe’s Cos. Inc. EV decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Lowe’s Cos. Inc. (NYSE:LOW)

Enterprise Value (EV)