Enterprise Value is the value of all operating assets of a company.
For listed companies the formula to compute EV is the sum of Equity Value (market cap), dilution (stock options in the company), all debt (including financial leases), operating leases (as per the latest IFRS guidelines), convertible bonds, pension deficit and minorities.
From this sum you would need to deduct cash, cash equivalents, associates and other non-core assets.
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