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, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Fair value of lines of credit, term loans, and convertible notes¹	2,211,029)	290,302)	596,764)	98,190)	29,401)	23,647)
Operating lease liability	35,382)	19,160)	23,800)	20,861)	24,412)	17,472)
Market value of common equity	27,027,141)	13,501,598)	3,627,650)	1,806,080)	1,436,761)	1,136,936)
Noncontrolling interest	164)	165)	172)	173)	167)	161)
Less: Investment in marketable equity security	3,686)	—)	—)	—)	—)	—)
Market (fair) value of Super Micro	29,270,030)	13,811,225)	4,248,386)	1,925,304)	1,490,741)	1,178,216)
Less: Invested capital²	7,676,769)	2,437,425)	2,222,919)	1,282,041)	1,239,197)	1,150,419)
MVA	21,593,261)	11,373,800)	2,025,467)	643,263)	251,544)	27,797)

Based on: 10-K (reporting date: 2024-06-30), 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).

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 2022 to 2023 and from 2023 to 2024.

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

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	21,593,261)	11,373,800)	2,025,467)	643,263)	251,544)	27,797)
Invested capital²	7,676,769)	2,437,425)	2,222,919)	1,282,041)	1,239,197)	1,150,419)
Performance Ratio
MVA spread ratio³	281.28%	466.63%	91.12%	50.17%	20.30%	2.42%
Benchmarks
MVA Spread Ratio, Competitors⁴
Apple Inc.	6,597.47%	4,423.16%	5,157.62%	5,626.48%	4,945.07%	2,012.85%
Arista Networks Inc.	2,039.51%	1,575.63%	1,226.33%	1,872.91%	1,070.87%	—
Cisco Systems Inc.	137.78%	279.75%	214.20%	329.31%	225.53%	295.15%
Dell Technologies Inc.	100.40%	2.11%	31.48%	53.40%	12.25%	—

Based on: 10-K (reporting date: 2024-06-30), 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).

¹ MVA. See details »

² Invested capital. See details »

³ 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 21,593,261 ÷ 7,676,769 = 281.28%

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 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

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

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	21,593,261)	11,373,800)	2,025,467)	643,263)	251,544)	27,797)

Net sales	14,989,251)	7,123,482)	5,196,099)	3,557,422)	3,339,281)	3,500,360)
Add: Increase (decrease) in deferred revenue	111,928)	70,587)	31,544)	(1,452)	350)	55,139)
Adjusted net sales	15,101,179)	7,194,069)	5,227,643)	3,555,970)	3,339,631)	3,555,499)
Performance Ratio
MVA margin²	142.99%	158.10%	38.75%	18.09%	7.53%	0.78%
Benchmarks
MVA Margin, Competitors³
Apple Inc.	843.30%	695.76%	609.53%	653.71%	648.08%	392.95%
Arista Networks Inc.	1,444.26%	1,189.41%	844.93%	1,097.06%	835.18%	—
Cisco Systems Inc.	222.92%	278.31%	240.26%	367.17%	235.28%	311.35%
Dell Technologies Inc.	61.61%	1.17%	16.47%	45.88%	10.39%	—

Based on: 10-K (reporting date: 2024-06-30), 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).

¹ MVA. See details »

² 2024 Calculation
MVA margin = 100 × MVA ÷ Adjusted net sales
= 100 × 21,593,261 ÷ 15,101,179 = 142.99%

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 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Super Micro Computer Inc. (NASDAQ:SMCI)

Market Value Added (MVA)

MVA

MVA Spread Ratio

MVA Margin