Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Thoratec's Enterprise Value is €2,805.7 Mil.
Thoratec's EBIT for the trailing twelve months (TTM) ended in Jun. 2015 was €46.5 Mil. Therefore, Thoratec's EV-to-EBIT ratio for today is 60.35.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Thoratec's Enterprise Value is €2,805.7 Mil.
Thoratec's EBITDA for the trailing twelve months (TTM) ended in Jun. 2015 was €59.4 Mil. Therefore, Thoratec's EV-to-EBITDA ratio for today is 47.20.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Thoratec's Enterprise Value is €2,805.7 Mil.
Thoratec's Revenue for the trailing twelve months (TTM) ended in Jun. 2015 was €412.7 Mil. Therefore, Thoratec's EV-to-Revenue ratio for today is 6.80.
Thoratec Enterprise Value Historical Data
The historical data trend for Thoratec's Enterprise Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Thoratec's Enterprise Value
For the Medical Devices subindustry, Thoratec's Enterprise Value, along with its competitors' market caps and Enterprise Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Thoratec's Enterprise Value Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Thoratec's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Thoratec's Enterprise Value falls into.
Thoratec Enterprise Value Calculation
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Thoratec's Enterprise Value for the fiscal year that ended in Dec. 2014 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thoratec (FRA:TL1) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Thoratec's current Enterprise Value is €2,805.7 Mil.
Thoratec's EBIT for the trailing twelve months (TTM) ended in Jun. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €46.5 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Thoratec's current Enterprise Value is €2,805.7 Mil.
Thoratec's EBITDA for the trailing twelve months (TTM) ended in Jun. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €59.4 Mil.
Thoratec's current Enterprise Value is €2,805.7 Mil.
Thoratec's Revenue for the trailing twelve months (TTM) ended in Jun. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €412.7 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thoratec Enterprise Value Related Terms
Thank you for viewing the detailed overview of Thoratec's Enterprise Value provided by GuruFocus.com. Please click on the following links to see related term pages.
Thoratec Corporation incorporated in the State of California in 1976 provides mechanical circulatory support with a product portfolio to treat the full range of clinical needs for advanced heart failure patients. It develops, manufactures and markets proprietary medical devices used for circulatory support. Following the sale of ITC in 2010, the Company has one operating segment: Cardiovascular group. This segment is organized and operates to develop and manufacture mechanical circulatory products to support the cardiovascular systems of humans. The Company's VAD products primarily serve patients suffering from late-stage HF. HF is a chronic disease that occurs when degeneration of the heart muscle reduces the pumping power of the heart, causing the heart to become too weak to pump blood at a level sufficient to meet the body's demands. Hospitals that perform open heart surgery and heart transplants are the potential customers for its Thoratec and HeartMate products. The Company estimates that it sells into 293 of these centers. According to the Company's estimates, it is in approximately 149 centers in the United States and 144 centers internationally. Competition from medical device companies and medical device divisions of healthcare companies, pharmaceutical companies and gene- and cell-based therapies is intense and is expected to increase. It therefore continues to expect new competitors both from the pharmacological and the medical device space. Among the medical device competitors are Aachen Innovative Solutions GmbH, AbioMed, Inc., Berlin Heart GmbH, HeartWare International Inc., Jarvik Heart, Inc., Maquet Cardiovascular, LLC (a division of Getinge AB), MicroMed Technology, Inc., Sun Medical Technology Research Corporation, SynCardia Systems, Inc., and Terumo Heart, Inc. All of the Company's proposed products will require regulatory approval prior to commercialization. In particular, medical devices are subject to rigorous pre-clinical testing as a condition of approval by the FDA and by similar authorities in foreign countries.
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