Verizon Communications Inc., current enterprise value calculation

Current share price (P)	$41.36
No. shares of common stock outstanding	4,209,626,270
US$ in millions
Common equity (market value)¹	174,110)
Add: Series preferred stock, $0.10 par value; none issued (per books)	—)
Add: Noncontrolling interests (per books)	1,369)
Total equity	175,479)
Add: Debt maturing within one year (per books)	12,973)
Add: Long-term debt, excluding maturing within one year (per books)	137,701)
Total equity and debt	326,153)
Less: Cash and cash equivalents	2,065)
Enterprise value (EV)	324,088)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 41.36 × 4,209,626,270

Verizon Communications Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$39.72	$40.01	$53.32	$56.50	$58.20
No. shares of common stock outstanding¹	4,204,272,443	4,199,882,937	4,197,823,662	4,138,148,588	4,135,863,778
US$ in millions
Common equity (market value)³	166,994)	168,037)	223,828)	233,805)	240,707)
Add: Series preferred stock, $0.10 par value; none issued (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	1,369)	1,319)	1,410)	1,430)	1,440)
Total equity	168,363)	169,356)	225,238)	235,235)	242,147)
Add: Debt maturing within one year (book value)	12,973)	9,963)	7,443)	5,889)	10,777)
Add: Long-term debt, excluding maturing within one year (book value)	137,701)	140,676)	143,425)	123,173)	100,712)
Total equity and debt	319,037)	319,995)	376,106)	364,297)	353,636)
Less: Cash and cash equivalents	2,065)	2,605)	2,921)	22,171)	2,594)
Enterprise value (EV)	316,972)	317,390)	373,185)	342,126)	351,042)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Verizon Communications Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 39.72 × 4,204,272,443

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.	Verizon Communications Inc. EV decreased from 2021 to 2022 and from 2022 to 2023.

Verizon Communications Inc. (NYSE:VZ)

Enterprise Value (EV)