Intrinsic Value

NewMarket Corp

NewMarket Corp (NEU)

Basic Materials

Enterprise Value 13,916.80
Net Debt 697.96
Equity Value 13,218.84
Shares Outstanding 11.40
Equity Value Per Share 1,159.14

Because investors are more interested in the value of the company’s shares alone, we’ll deduct net debt from this value to arrive at a fair value of the company’s equity. Fair Value = Enterprise Value – Debt