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
MVA Spread Ratio
MVA Margin

Super Micro Computer Inc., MVA calculation

US$ in thousands

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Fair value of short-term and long-term debt¹	290,302)	596,764)	98,190)	29,401)	23,647)	116,181)
Operating lease liability	19,160)	23,800)	20,861)	24,412)	17,472)	16,061)
Market value of common equity	13,501,598)	3,627,650)	1,806,080)	1,436,761)	1,136,936)	1,125,499)
Noncontrolling interest	165)	172)	173)	167)	161)	157)
Market (fair) value of Supermicro	13,811,225)	4,248,386)	1,925,304)	1,490,741)	1,178,216)	1,257,898)
Less: Invested capital²	2,437,425)	2,222,919)	1,282,041)	1,239,197)	1,150,419)	1,108,476)
MVA	11,373,800)	2,025,467)	643,263)	251,544)	27,797)	149,422)

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ Fair value of debt. See details »

² Invested capital. See details »

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Item	Description	The company
MVA	Super Micro Computer Inc. market (fair) value less invested capital.	Super Micro Computer Inc. MVA increased from 2021 to 2022 and from 2022 to 2023.

Super Micro Computer Inc., MVA spread ratio calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	11,373,800)	2,025,467)	643,263)	251,544)	27,797)	149,422)
Invested capital²	2,437,425)	2,222,919)	1,282,041)	1,239,197)	1,150,419)	1,108,476)
Performance Ratio
MVA spread ratio³	466.63%	91.12%	50.17%	20.30%	2.42%	13.48%
Benchmarks
MVA Spread Ratio, Competitors⁴
Apple Inc.	4,423.16%	5,157.62%	5,626.48%	4,945.07%	2,012.85%	—
Arista Networks Inc.	1,575.63%	1,226.33%	1,872.91%	1,070.87%	—	—
Cisco Systems Inc.	279.75%	214.20%	329.31%	225.53%	295.15%	—
Dell Technologies Inc.	2.11%	31.48%	53.40%	12.25%	28.34%	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ MVA. See details »

² Invested capital. See details »

³ 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 11,373,800 ÷ 2,437,425 = 466.63%

⁴ Click competitor name to see calculations.

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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.	Super Micro Computer Inc. MVA spread ratio improved from 2021 to 2022 and from 2022 to 2023.

Super Micro Computer Inc., MVA margin calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	11,373,800)	2,025,467)	643,263)	251,544)	27,797)	149,422)

Net sales	7,123,482)	5,196,099)	3,557,422)	3,339,281)	3,500,360)	3,360,492)
Add: Increase (decrease) in deferred revenue	70,587)	31,544)	(1,452)	350)	55,139)	67,775)
Adjusted net sales	7,194,069)	5,227,643)	3,555,970)	3,339,631)	3,555,499)	3,428,267)
Performance Ratio
MVA margin²	158.10%	38.75%	18.09%	7.53%	0.78%	4.36%
Benchmarks
MVA Margin, Competitors³
Apple Inc.	695.76%	609.53%	653.71%	648.08%	392.95%	—
Arista Networks Inc.	1,189.41%	844.93%	1,097.06%	835.18%	—	—
Cisco Systems Inc.	278.31%	240.26%	367.17%	235.28%	311.35%	—
Dell Technologies Inc.	1.17%	16.47%	45.88%	10.39%	24.30%	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ MVA. See details »

² 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted net sales
= 100 × 11,373,800 ÷ 7,194,069 = 158.10%

³ Click competitor name to see calculations.

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Performance ratio	Description	The company
MVA margin	The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value.	Super Micro Computer Inc. MVA margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Super Micro Computer Inc. (NASDAQ:SMCI)

Market Value Added (MVA)

MVA

MVA Spread Ratio

MVA Margin