Enterprise Value Calculator
Total company value.
Calculate Enterprise Value for company valuation and acquisition analysis from market capitalisation, debt, cash, and minority interest.
What this tool does
Enterprise value represents the total economic value of a business from the perspective of all investors — both equity holders and debt holders. This calculator computes that figure by combining market capitalisation, total debt, and minority interest, then subtracting cash and equivalents, with optional adjustment for preferred equity. The result shows what an acquirer might theoretically pay to own the entire enterprise on a debt-free basis. Market capitalisation and total debt typically drive the largest movements in the final value. The calculator is useful for comparing companies of different sizes, analysing acquisition scenarios, or understanding how leverage and cash reserves affect overall valuation. Note that the calculation assumes balance sheet data is current and does not account for transaction costs, tax effects, or changes in working capital that would occur in a real acquisition.
Enter Values
People also use
Startup & VC
Pre-Money / Post-Money Valuation Calculator
Calculate pre-money valuation, dilution, and price per share for a VC deal from investment amount and post-money valuation.
Business & Startup
EBITDA Calculator
Calculate EBITDA and EBITDA margin from revenue, COGS, operating expenses, depreciation, and amortisation — the headline operating-profit metric.
Startup & VC
Equity Compensation Value Calculator
Calculate annualised equity compensation value from RSUs, options, and an employer stock purchase program across the vesting schedule.
Formula Used
Spotted something off?
Calculations or display — let us know.
Disclaimer
Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.
Enterprise Value (EV) measures the total value of a company including debt and excluding cash - the price an acquirer would actually pay. Formula: EV = Market Cap + Total Debt + Minority Interest + Preferred Equity - Cash. EV is the proper denominator for valuation multiples (EV/EBITDA, EV/Revenue) because it includes all capital sources.
Example: company with 500M market cap, 200M debt, 50M cash. EV = 500M + 200M - 50M = 650M. EV/EBITDA at 10x EBITDA: company trades at multiple of 6.5x EV/EBITDA. Lower than the market cap multiple of 5x - includes the debt the acquirer would inherit.
Why EV matters more than market cap: two companies with identical market caps but different debt loads have very different acquisition costs. Apple with 3T market cap and net cash position has lower EV than market cap. Highly leveraged companies have EV much higher than market cap. Always use EV/EBITDA or EV/Revenue for cross-company comparisons - market cap multiples mislead when capital structures differ.
A worked example
Try the defaults: market capitalisation of 500,000,000, total debt of 200,000,000, cash & equivalents of 50,000,000, minority interest of 0. The tool returns 650,000,000.00. You can adjust any input and the result updates as you type — no submit button, no reload. That's the real power here: seeing how sensitive the output is to one or two assumptions.
What moves the number most
The result responds to Market Capitalisation, Total Debt, Cash & Equivalents, Minority Interest (optional), and Preferred Equity (optional). Not every input has equal weight. Adjusting one input at a time toward extreme values shows which ones move the result most.
The formula behind this
EV = market cap + total debt + minority interest + preferred equity - cash & equivalents. Everything the calculator does is shown in the formula box below, so you can check the math against your own spreadsheet if you want.
Where this fits in planning
This is a "what-if" tool, not a forecast. Use it to test ideas before committing: what happens if the rate is 2% lower than hoped, what happens if you add five more years. The value is in the scenarios you run, not the single answer you get from the defaults.
What this doesn't capture
Steady-rate math ignores real-world volatility. Actual returns are lumpy; sequence-of-returns risk matters most in drawdown; fees and taxes drag on compound growth; and behaviour changes in drawdowns can reduce outcomes below the projection. The number represents one scenario rather than a forecast.
££500,000,000 + ££200,000,000 - ££50,000,000 = 650,000,000.00.
Inputs
This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.
Sources & Methodology
Methodology
The calculator computes enterprise value by combining market capitalisation with claims senior to common equity, then subtracting liquid assets. Specifically, it adds market capitalisation, total debt, minority interest, and preferred equity, then deducts cash and cash equivalents. This approach treats the company as if all debt were repaid and all cash deployed, presenting the cost to acquire the operating business itself rather than its equity value alone. The model assumes debt and preferred equity values equal their book amounts, and treats minority interest as a fixed liability. It does not account for contingent liabilities, operating leases, deferred tax positions, or changes in working capital. Results represent a static valuation snapshot based on input values at a single point in time.
References
Frequently Asked Questions
Why subtract cash?
EV vs market cap?
EV/EBITDA vs P/E?
Typical EV/EBITDA multiples?
Related Calculators
Pre-Money / Post-Money Valuation Calculator
Calculate pre-money valuation, dilution, and price per share for a VC deal from investment amount and post-money valuation.
EBITDA Calculator
Calculate EBITDA and EBITDA margin from revenue, COGS, operating expenses, depreciation, and amortisation — the headline operating-profit metric.
Equity Compensation Value Calculator
Calculate annualised equity compensation value from RSUs, options, and an employer stock purchase program across the vesting schedule.
More Investing Calculators
Investing
100 Minus Age Asset Allocation Calculator
Calculate stock-vs-bond allocation using the 100-minus-age rule of thumb — see the suggested percentage split for any age you put in.
Investing
Active vs Passive Investing Calculator
Compare active and passive investment strategies accounting for fees across long horizons — the wealth gap from a percentage point of fee drag.
Investing
Annuity Present Value Calculator
Calculate the present value of an ordinary annuity from regular payments, periodic rate, and the number of periods until the stream ends.
Investing
APR to APY Calculator
Convert APR to APY for any compounding frequency to see the true effective annual yield — what you actually earn (or pay) on a given quoted rate.
Investing
Art Investment Calculator
Calculate art investment net returns including insurance and carrying costs, given purchase price, current value, and length of holding period.
Investing
Asset Allocation Calculator
Calculate suggested portfolio asset allocation by age and risk tolerance (stocks/bonds/cash). Enter risk tolerance 1-10 to see suggested stock and bond.
Explore Other Financial Tools
Real Estate
Tenant Screening Cost Calculator
Calculate tenant screening cost ROI by quantifying the value of bad-tenant prevention against the per-applicant screening expense.
Debt
Auto Loan Payoff Calculator
Calculate auto loan payoff timeline with optional extra payments. See interest saved and total paid to map your payoff timeline.
Mortgage
First vs Second Mortgage Calculator
Compare refinancing your first mortgage against taking out a second mortgage for the same cash need. Enter first mortgage balance to size affordability.