Northrop Grumman Corp., current enterprise value calculation

Current share price (P)	$457.68
No. shares of common stock outstanding	151,859,445
US$ in millions
Common equity (market value)¹	69,503)
Add: Preferred stock, $1 par value; no shares issued and outstanding (per books)	—)
Total equity	69,503)
Add: Current portion of long-term debt (per books)	1,072)
Add: Long-term debt, net of current portion (per books)	11,805)
Total equity and debt	82,380)
Less: Cash and cash equivalents	2,577)
Enterprise value (EV)	79,803)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 457.68 × 151,859,445

Northrop Grumman Corp., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$443.47	$373.99	$293.03	$384.87	$275.55
No. shares of common stock outstanding¹	153,053,371	156,101,934	166,718,384	167,637,130	169,737,507
US$ in millions
Common equity (market value)³	67,875)	58,381)	48,853)	64,519)	46,771)
Add: Preferred stock, $1 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	67,875)	58,381)	48,853)	64,519)	46,771)
Add: Current portion of long-term debt (book value)	1,072)	6)	742)	1,109)	517)
Add: Long-term debt, net of current portion (book value)	11,805)	12,777)	14,261)	12,770)	13,883)
Total equity and debt	80,752)	71,164)	63,856)	78,398)	61,171)
Less: Cash and cash equivalents	2,577)	3,530)	4,907)	2,245)	1,579)
Enterprise value (EV)	78,175)	67,634)	58,949)	76,153)	59,592)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Northrop Grumman Corp. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 443.47 × 153,053,371

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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.	Northrop Grumman Corp. EV increased from 2020 to 2021 and from 2021 to 2022.

Northrop Grumman Corp. (NYSE:NOC)

Enterprise Value (EV)