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
Ulta Beauty Inc., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Ulta Beauty Inc. market (fair) value less invested capital. | Ulta Beauty Inc. MVA increased from 2021 to 2022 and from 2022 to 2023. |
MVA Spread Ratio
Ulta Beauty Inc., MVA spread ratio calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 23,584,479) | 18,835,179) | 14,742,959) | 7,685,184) | 18,369,327) | 10,562,036) | |
| Invested capital2 | 4,117,969) | 3,684,509) | 4,184,136) | 3,966,351) | 4,338,625) | 3,940,229) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 572.72% | 511.20% | 352.35% | 193.76% | 423.39% | 268.06% | |
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Amazon.com Inc. | 487.84% | 342.01% | 728.57% | 1,053.43% | — | — | |
| Home Depot Inc. | 519.24% | 681.54% | 631.50% | 547.47% | 617.70% | — | |
| Lowe’s Cos. Inc. | 500.68% | 587.76% | 457.91% | 186.58% | 334.01% | — | |
| TJX Cos. Inc. | 393.67% | 333.18% | 327.36% | 261.07% | 334.48% | — | |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 MVA. See details »
2 Invested capital. See details »
3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 23,584,479 ÷ 4,117,969 = 572.72%
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. | Ulta Beauty Inc. MVA spread ratio improved from 2021 to 2022 and from 2022 to 2023. |
MVA Margin
Ulta Beauty Inc., MVA margin calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 23,584,479) | 18,835,179) | 14,742,959) | 7,685,184) | 18,369,327) | 10,562,036) | |
| Net sales | 10,208,580) | 8,630,889) | 6,151,953) | 7,398,068) | 6,716,615) | 5,884,506) | |
| Add: Increase (decrease) in deferred revenue | 41,098) | 79,196) | 36,848) | 38,481) | 85,918) | —) | |
| Adjusted net sales | 10,249,678) | 8,710,085) | 6,188,801) | 7,436,549) | 6,802,533) | 5,884,506) | |
| Performance Ratio | |||||||
| MVA margin2 | 230.10% | 216.25% | 238.22% | 103.34% | 270.04% | 179.49% | |
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Amazon.com Inc. | 274.96% | 178.50% | 312.93% | 408.23% | — | — | |
| Home Depot Inc. | 182.42% | 216.66% | 237.60% | 181.62% | 195.15% | — | |
| Lowe’s Cos. Inc. | 127.78% | 159.89% | 145.00% | 69.10% | 115.18% | — | |
| TJX Cos. Inc. | 160.74% | 135.17% | 227.93% | 116.99% | 149.26% | — | |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 MVA. See details »
2 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted net sales
= 100 × 23,584,479 ÷ 10,249,678 = 230.10%
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. | Ulta Beauty Inc. MVA margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |