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Spirit Airlines Enterprise Value

: $4,840 Mil (As of Today)
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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, Spirit Airlines's enterprise value is $4,840 Mil. Spirit Airlines's EBIT for the trailing twelve months (TTM) ended in Sep. 2019 was $538 Mil. Therefore, Spirit Airlines's EV/EBIT ratio for today is 9.00.

EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Spirit Airlines's enterprise value is $4,840 Mil. Spirit Airlines's EBITDA for the trailing twelve months (TTM) ended in Sep. 2019 was $749 Mil. Therefore, Spirit Airlines's EV/EBITDA ratio for today is 6.46.

EV-to-Revenue is calculated as enterprise value divided by its Revenue. As of today, Spirit Airlines's enterprise value is $4,840 Mil. Spirit Airlines's Revenue for the trailing twelve months (TTM) ended in Sep. 2019 was $3,724 Mil. Therefore, Spirit Airlines's EV/Revenue ratio for today is 1.30.


Spirit Airlines Enterprise Value Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Spirit Airlines Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
Enterprise Value Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5,029.46 2,748.16 4,193.83 3,712.39 5,033.85

Spirit Airlines Quarterly Data
Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19
Enterprise Value Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4,251.56 5,033.85 5,618.82 5,369.26 4,641.10

Competitive Comparison
* 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.


Spirit Airlines Enterprise Value Distribution

* The bar in red indicates where Spirit Airlines's Enterprise Value falls into.



Spirit Airlines 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.

Spirit Airlines's Enterprise Value for the fiscal year that ended in Dec. 2018 is calculated as

Enterprise Value (A: Dec. 2018 )
=Market Cap+Preferred Stock+Long-Term Debt & Capital Lease Obligation
=3953.04+0+2024.774
+Short-Term Debt & Capital Lease Obligation+Minority Interest-Cash, Cash Equivalents, Marketable Securities
+163.557+0-1107.522
=5,034

Spirit Airlines's Enterprise Value for the quarter that ended in Sep. 2019 is calculated as

Enterprise Value (Q: Sep. 2019 )
=Market Cap+Preferred Stock+Long-Term Debt & Capital Lease Obligation
=2484.735+0+2884.878
+Short-Term Debt & Capital Lease Obligation+Minority Interest-Cash, Cash Equivalents, Marketable Securities
+311.958+0-1040.47
=4,641

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Spirit Airlines  (NYSE:SAVE) 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.

Spirit Airlines's EV/EBIT for today is

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=4840.238/537.877
=9.00

Spirit Airlines's current Enterprise Value is $4,840 Mil.
Spirit Airlines's EBIT for the trailing twelve months (TTM) ended in Sep. 2019 was 141.771 (Dec. 2018 ) + 94.495 (Mar. 2019 ) + 170.86 (Jun. 2019 ) + 130.751 (Sep. 2019 ) = $538 Mil.

2. EV-to-EBITDA is calculated as enterprise value divided by its EBITDA.

Spirit Airlines's EV/EBITDA for today is:

EV-to-EBITDA=Enterprise Value (Today)/EBITDA(TTM)
=4840.238/749.191
=6.46

Spirit Airlines's current Enterprise Value is $4,840 Mil.
Spirit Airlines's EBITDA for the trailing twelve months (TTM) ended in Sep. 2019 was 189.734 (Dec. 2018 ) + 145.221 (Mar. 2019 ) + 225.773 (Jun. 2019 ) + 188.463 (Sep. 2019 ) = $749 Mil.

3. EV-to-Revenue is calculated as enterprise value divided by its Revenue.

Spirit Airlines's EV/Revenue for today is:

EV-to-Revenue=Enterprise Value (Today)/Revenue (TTM)
=4840.238/3723.515
=1.30

Spirit Airlines's current Enterprise Value is $4,840 Mil.
Spirit Airlines's EBITDA for the trailing twelve months (TTM) ended in Sep. 2019 was 862.795 (Dec. 2018 ) + 855.796 (Mar. 2019 ) + 1012.956 (Jun. 2019 ) + 991.968 (Sep. 2019 ) = $3,724 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


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