Market Value Added (MVA)
Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.
MVA
Expedia Group Inc., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Expedia Group Inc. market (fair) value less invested capital. | Expedia Group Inc. MVA increased from 2019 to 2020 and from 2020 to 2021. |
MVA Spread Ratio
Expedia Group Inc., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 23,264) | 17,434) | 7,729) | 10,745) | 7,798) | |
| Invested capital2 | 17,498) | 15,765) | 16,161) | 14,424) | 14,039) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 132.95% | 110.58% | 47.82% | 74.50% | 55.54% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Amazon.com Inc. | 728.57% | 1,053.43% | 730.44% | — | — | |
| Home Depot Inc. | 631.50% | 547.47% | 617.70% | — | — | |
| Lowe’s Cos. Inc. | 457.91% | 186.58% | 334.01% | — | — | |
| TJX Cos. Inc. | 327.36% | 261.07% | 334.48% | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2021 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 23,264 ÷ 17,498 = 132.95%
4 Click competitor name to see calculations.
| Performance ratio | Description | The company |
|---|---|---|
| MVA spread ratio | The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. | Expedia Group Inc. MVA spread ratio improved from 2019 to 2020 and from 2020 to 2021. |
MVA Margin
Expedia Group Inc., MVA margin calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 23,264) | 17,434) | 7,729) | 10,745) | 7,798) | |
| Revenue | 8,598) | 5,199) | 12,067) | 11,223) | 10,060) | |
| Add: Increase (decrease) in deferred merchant bookings and deferred revenue | 2,575) | (2,721) | 1,309) | 1,146) | 645) | |
| Adjusted revenue | 11,173) | 2,478) | 13,376) | 12,369) | 10,705) | |
| Performance Ratio | ||||||
| MVA margin2 | 208.21% | 703.53% | 57.78% | 86.87% | 72.85% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Amazon.com Inc. | 312.93% | 408.23% | 330.23% | — | — | |
| Home Depot Inc. | 237.60% | 181.62% | 195.15% | — | — | |
| Lowe’s Cos. Inc. | 145.00% | 69.10% | 115.18% | — | — | |
| TJX Cos. Inc. | 227.93% | 116.99% | 149.26% | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 MVA. See details »
2 2021 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenue
= 100 × 23,264 ÷ 11,173 = 208.21%
3 Click competitor name to see calculations.
| Performance ratio | Description | The company |
|---|---|---|
| MVA margin | The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. | Expedia Group Inc. MVA margin ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |