As can be seen in Year 19 for example. If a company has zero debt, but big cash balances ($7,105 in this case), would equity value be larger than enterprise value?
How can I make sense of this logically?
Would it be that if the company were to sell on a multiple, the retained earnings (the source of cash) would be returned to the equity holders in addition to the sale price, whereas the buyer would just pay the EV?
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