Motorola Solutions Inc., current enterprise value calculation

Current share price (P)	$398.58
No. shares of common stock outstanding	166,840,999
US$ in millions
Common equity (market value)¹	66,499)
Add: Preferred stock, $100 par value; none issued and outstanding (per books)	—)
Add: Noncontrolling interests (per books)	15)
Total equity	66,514)
Add: Current portion of long-term debt (per books)	1,313)
Add: Long-term debt, excluding current portion (per books)	4,705)
Total equity and debt	72,532)
Less: Cash and cash equivalents	1,705)
Enterprise value (EV)	70,827)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 398.58 × 166,840,999

Motorola Solutions Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$323.90	$267.36	$221.00	$181.07	$184.41
No. shares of common stock outstanding¹	166,132,981	167,250,071	168,209,089	169,028,294	170,579,096
US$ in millions
Common equity (market value)³	53,810)	44,716)	37,174)	30,606)	31,456)
Add: Preferred stock, $100 par value; none issued and outstanding (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	15)	15)	17)	17)	17)
Total equity	53,825)	44,731)	37,191)	30,623)	31,473)
Add: Current portion of long-term debt (book value)	1,313)	1)	5)	12)	16)
Add: Long-term debt, excluding current portion (book value)	4,705)	6,013)	5,688)	5,163)	5,113)
Total equity and debt	59,843)	50,745)	42,884)	35,798)	36,602)
Less: Cash and cash equivalents	1,705)	1,325)	1,874)	1,254)	1,001)
Enterprise value (EV)	58,138)	49,420)	41,010)	34,544)	35,601)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Motorola Solutions Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 323.90 × 166,132,981

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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.	Motorola Solutions Inc. EV increased from 2021 to 2022 and from 2022 to 2023.

Motorola Solutions Inc. (NYSE:MSI)

Enterprise Value (EV)