Enterprise Value is ;
total value of the equity in a business
plus the value of its debt or debt-related liabilities,
minus any cash or cash equivalents available to meet those liabilities.
If the premises used are owned by the business, they form part of the Enterprise Value on the basis of their value to the business. The concept involves valuation of a continuing entity from which allocations or apportionments of overall going concern value may be made to constituent parts as they contribute to the whole, but none of the components of themselves constitute market value.