Implied Enterprise Value is a financial metric used to measure the total value of a business. It takes into account both the market capitalization of a company and any outstanding debt held by the business. Implied enterprise value represents the amount an investor would pay for the entire company, including its assets and liabilities, and does not reflect the present day value of financial instruments or future growth prospects. This metric can be useful when comparing different companies and evaluating potential investments since it accounts for more than just current market capitalization.