Enterprise Value Quotes

Today's developer is a poor substitute for the committed entrepreneur of the last century for whom the work of architecture represented a chance to celebrate the worth of his enterprise.

An enterprise's most vital assets lie in its design and other creative capabilities.

Most of America's leading entrepreneurs are bound to the masts of their fortunes. They are allowed to keep their wealth only as long as they invest it in others. In a real sense, they can keep only what they give away. It has been given to others in the form of investments. It is embodied in a vast web of enterprises that retains its worth only through constant work and sacrifice. Capitalism is a system that begins not with taking but with giving to others.

The Enterprise Value Tax is unprecedented, punitive, and has no justification in the tax code.

Evidently stockholders have forgotten more than to look at balance sheets. They have forgotten also that they are owners of a business and not merely owners of a quotation on the stock ticker. It is time, and high time, that the millions of American shareholders turned their eyes from the daily market reports long enough to give some attention to the enterprises themselves of which they are the proprietors, and which exist for their benefit and at their pleasure.

Valuing a business is part art and part science.

Too many entrepreneurs think their valuation is the real economic price of their company. It's not. It's not a real economic price unless you are selling 100%.

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.

An investor calculates what a stock is worth, based on the value of its businesses.

When Bill Morgan and I formed Kinder Morgan in February of 1997, it had about $300 million in enterprise value.