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
eBay Inc., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | eBay Inc. market (fair) value less invested capital. | eBay Inc. MVA increased from 2016 to 2017 but then decreased significantly from 2017 to 2018. |
MVA Spread Ratio
eBay Inc., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 26,753) | 37,202) | 27,061) | 20,030) | 43,627) | |
| Invested capital2 | 7,597) | 6,903) | 7,687) | 7,328) | 20,937) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 352.15% | 538.88% | 352.03% | 273.33% | 208.37% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Amazon.com Inc. | — | — | — | — | — | |
| Home Depot Inc. | — | — | — | — | — | |
| Lowe’s Cos. Inc. | — | — | — | — | — | |
| TJX Cos. Inc. | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2018 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 26,753 ÷ 7,597 = 352.15%
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. | eBay Inc. MVA spread ratio improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018 not reaching 2016 level. |
MVA Margin
eBay Inc., MVA margin calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 26,753) | 37,202) | 27,061) | 20,030) | 43,627) | |
| Net revenues | 10,746) | 9,567) | 8,979) | 8,592) | 17,902) | |
| Add: Increase (decrease) in deferred revenue | 33) | 7) | 4) | (2) | 30) | |
| Adjusted net revenues | 10,779) | 9,574) | 8,983) | 8,590) | 17,932) | |
| Performance Ratio | ||||||
| MVA margin2 | 248.20% | 388.57% | 301.25% | 233.18% | 243.29% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Amazon.com Inc. | — | — | — | — | — | |
| Home Depot Inc. | — | — | — | — | — | |
| Lowe’s Cos. Inc. | — | — | — | — | — | |
| TJX Cos. Inc. | — | — | — | — | — | |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
1 MVA. See details »
2 2018 Calculation
MVA margin = 100 × MVA ÷ Adjusted net revenues
= 100 × 26,753 ÷ 10,779 = 248.20%
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. | eBay Inc. MVA margin ratio improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018. |