Target Corp., current enterprise value calculation

Current share price (P)	$128.13
No. shares of common stock outstanding	458,211,929
US$ in millions
Common equity (market value)¹	58,711)
Total equity	58,711)
Add: Current portion of long-term debt and other borrowings (per books)	1,116)
Add: Long-term debt and other borrowings, excluding current portion (per books)	14,922)
Total equity and debt	74,749)
Less: Cash and cash equivalents	3,805)
Enterprise value (EV)	70,944)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 128.13 × 458,211,929

Target Corp., EV calculation

	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Share price^1, 2	$166.67	$163.51	$216.00	$178.58	$105.58	$77.12
No. shares of common stock outstanding¹	461,690,206	460,363,991	462,418,075	498,616,180	500,961,951	516,333,213
US$ in millions
Common equity (market value)³	76,950)	75,274)	99,882)	89,043)	52,892)	39,820)
Total equity	76,950)	75,274)	99,882)	89,043)	52,892)	39,820)
Add: Current portion of long-term debt and other borrowings (book value)	1,116)	130)	171)	1,144)	161)	1,052)
Add: Long-term debt and other borrowings, excluding current portion (book value)	14,922)	16,009)	13,549)	11,536)	11,338)	10,223)
Total equity and debt	92,988)	91,413)	113,602)	101,723)	64,391)	51,095)
Less: Cash and cash equivalents	3,805)	2,229)	5,911)	8,511)	2,577)	1,556)
Enterprise value (EV)	89,183)	89,184)	107,691)	93,212)	61,814)	49,539)

¹ Data adjusted for splits and stock dividends.

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

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 166.67 × 461,690,206

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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.	Target Corp. EV decreased from 2022 to 2023 and from 2023 to 2024.

Target Corp. (NYSE:TGT)

Enterprise Value (EV)