Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Market Value Added (MVA)

Microsoft Excel

MVA

AbbVie Inc., MVA calculation

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Fair value of debt and finance lease obligations1 56,344 57,849 83,756 96,615 70,363
Operating lease liability 901 920 891 1,007 360
Market value of common equity 310,458 267,728 254,754 185,435 140,461
Noncontrolling interest 37 33 28 21
Less: Available-for-sale investment securities 147 140 212 221 27
Market (fair) value of AbbVie 367,593 326,390 339,217 282,857 211,157
Less: Invested capital2 68,204 82,134 95,922 103,725 62,749
MVA 299,389 244,256 243,295 179,132 148,408

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

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

MVA Spread Ratio

AbbVie Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 299,389 244,256 243,295 179,132 148,408
Invested capital2 68,204 82,134 95,922 103,725 62,749
Performance Ratio
MVA spread ratio3 438.96% 297.39% 253.64% 172.70% 236.51%
Benchmarks
MVA Spread Ratio, Competitors4
Amgen Inc. 207.91% 308.27% 303.88% 343.98% 341.92%
Bristol-Myers Squibb Co. 100.64% 160.91% 138.81% 109.83% 90.05%
Danaher Corp. 157.62% 156.95% 187.44% 172.97% 135.15%
Eli Lilly & Co. 2,389.96% 1,239.79% 833.40% 778.02% 601.09%
Gilead Sciences Inc. 148.05% 175.26% 119.58% 125.56% 226.14%
Johnson & Johnson 309.06% 288.03% 366.17% 363.07% 335.85%
Merck & Co. Inc. 412.35% 312.72% 223.02% 292.93% 328.56%
Moderna Inc. 426.77% 461.14% 378.45% 1,322.35% 1,719.94%
Pfizer Inc. 40.45% 124.43% 210.66% 116.68% 95.96%
Regeneron Pharmaceuticals Inc. 663.41% 521.52% 461.61% 508.24% 460.29%
Thermo Fisher Scientific Inc. 189.49% 195.28% 211.22% 232.26% 171.11%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 MVA. See details »

2 Invested capital. See details »

3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 299,389 ÷ 68,204 = 438.96%

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. AbbVie Inc. MVA spread ratio improved from 2021 to 2022 and from 2022 to 2023.

MVA Margin

AbbVie Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 299,389 244,256 243,295 179,132 148,408
Net revenues 54,318 58,054 56,197 45,804 33,266
Performance Ratio
MVA margin2 551.18% 420.74% 432.93% 391.08% 446.12%
Benchmarks
MVA Margin, Competitors3
Amgen Inc. 540.65% 493.74% 503.37% 550.26% 575.79%
Bristol-Myers Squibb Co. 151.08% 250.01% 240.26% 232.86% 345.41%
Danaher Corp. 517.54% 389.99% 468.46% 507.10% 438.18%
Eli Lilly & Co. 2,058.21% 1,055.66% 769.29% 778.57% 578.77%
Gilead Sciences Inc. 251.89% 295.97% 211.56% 259.24% 321.38%
Johnson & Johnson 359.73% 345.62% 383.46% 432.99% 396.88%
Merck & Co. Inc. 479.92% 390.05% 323.90% 349.01% 376.50%
Moderna Inc. 487.11% 230.15% 197.41% 1,368.57%
Pfizer Inc. 107.10% 137.35% 227.20% 289.28% 224.34%
Regeneron Pharmaceuticals Inc. 605.08% 525.04% 312.14% 495.20% 382.11%
Thermo Fisher Scientific Inc. 378.46% 360.17% 431.35% 441.03% 352.63%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 MVA. See details »

2 2023 Calculation
MVA margin = 100 × MVA ÷ Net revenues
= 100 × 299,389 ÷ 54,318 = 551.18%

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. AbbVie Inc. MVA margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.