Visa Inc., current enterprise value calculation

Current share price (P)	$229.01
No. shares of common stock outstanding	2,049,144,694
US$ in millions
Common equity (market value)¹	469,275)
Add: Series A, Series B and Series C convertible participating preferred stock (preferred stock), $0.0001 par value (per books)	2,324)
Total equity	471,599)
Add: Current maturities of debt (per books)	2,250)
Add: Long-term debt, excluding current maturities (per books)	20,200)
Total equity and debt	494,049)
Less: Cash and cash equivalents	15,689)
Less: Restricted cash equivalents, U.S. litigation escrow	1,449)
Less: Investment securities	2,833)
Less: Customer collateral	2,342)
Enterprise value (EV)	471,736)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 229.01 × 2,049,144,694

Visa Inc., EV calculation

	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Share price^1, 2	$210.14	$203.33	$207.57	$179.75	$140.18	$109.82
No. shares of common stock outstanding¹	2,061,687,546	2,108,549,451	2,133,541,039	2,155,629,545	2,206,760,802	2,268,806,703
US$ in millions
Common equity (market value)³	433,243)	428,731)	442,859)	387,474)	309,344)	249,160)
Add: Series A, Series B and Series C convertible participating preferred stock (preferred stock), $0.0001 par value (book value)	2,324)	3,080)	5,086)	5,462)	5,470)	5,526)
Total equity	435,567)	431,811)	447,945)	392,936)	314,814)	254,686)
Add: Current maturities of debt (book value)	2,250)	999)	2,999)	—)	—)	1,749)
Add: Long-term debt, excluding current maturities (book value)	20,200)	19,978)	21,071)	16,729)	16,630)	16,618)
Total equity and debt	458,017)	452,788)	472,015)	409,665)	331,444)	273,053)
Less: Cash and cash equivalents	15,689)	16,487)	16,289)	7,838)	8,162)	9,874)
Less: Restricted cash equivalents, U.S. litigation escrow	1,449)	894)	901)	1,205)	1,491)	1,031)
Less: Investment securities	2,833)	2,025)	3,752)	4,236)	3,547)	3,564)
Less: Customer collateral	2,342)	2,260)	1,850)	1,648)	1,324)	1,106)
Enterprise value (EV)	435,704)	431,122)	449,223)	394,738)	316,920)	257,478)

¹ Data adjusted for splits and stock dividends.

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

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 210.14 × 2,061,687,546

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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.	Visa Inc. EV decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

Visa Inc. (NYSE:V)

Enterprise Value (EV)