Enterprise value =
common equity at market value (this line item is also known as "market cap")
ADD debt at market value (here debt refers to interest-bearing liabilities, both long-term and short-term)
ADD minority interest at market value, if any
ADD preferred equity at market value
ADD unfunded pension liabilities and other debt-deemed provisions
SUBSTRACT value of associate companies
SUBTRACT cash and cash equivalents. (Cash is subtracted because it reduces the net cost to a potential purchaser. The effect applies whether the cash is used to issue dividends or to pay down debt. )
A40 Price at posting:
19.0¢ Sentiment: None Disclosure: Not Held
