Walk from enterprise value to equity value with a full bridge of adjustments.
Equity Value
?
The value that belongs to owners after debt and other claims are considered.
$4,500,000,000
Implied Share Price
$45.00
Net Debt
?
Debt minus cash, used to bridge enterprise value to equity value.
$1,500,000,000
Data view
| Bridge Step | Delta | Running Total |
|---|---|---|
| Enterprise Value | $6,450,000,000 | $6,450,000,000 |
| Total Debt | -$2,000,000,000 | $4,450,000,000 |
| Preferred Equity | -$200,000,000 | $4,250,000,000 |
| Minority Interest | -$150,000,000 | $4,100,000,000 |
| Unfunded Pension | -$100,000,000 | $4,000,000,000 |
| Cash & Equivalents | $500,000,000 | $4,500,000,000 |
| Equity Value | — | $4,500,000,000 |