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
AutoZone Inc., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | AutoZone Inc. market (fair) value less invested capital. | AutoZone Inc. MVA increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
MVA Spread Ratio
AutoZone Inc., MVA spread ratio calculation, comparison to benchmarks
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 46,348,661) | 48,533,304) | 40,299,261) | 27,943,746) | 29,257,164) | 20,156,078) | |
| Invested capital2 | 6,986,333) | 6,383,299) | 6,599,731) | 7,636,912) | 5,730,767) | 5,277,396) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 663.42% | 760.32% | 610.62% | 365.90% | 510.53% | 381.93% | |
| 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: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 MVA. See details »
2 Invested capital. See details »
3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 46,348,661 ÷ 6,986,333 = 663.42%
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. | AutoZone Inc. MVA spread ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
MVA Margin
AutoZone Inc., MVA margin calculation, comparison to benchmarks
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 46,348,661) | 48,533,304) | 40,299,261) | 27,943,746) | 29,257,164) | 20,156,078) | |
| Net sales | 17,457,209) | 16,252,230) | 14,629,585) | 12,631,967) | 11,863,743) | 11,221,077) | |
| Performance Ratio | |||||||
| MVA margin2 | 265.50% | 298.63% | 275.46% | 221.21% | 246.61% | 179.63% | |
| 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: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).
1 MVA. See details »
2 2023 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 46,348,661 ÷ 17,457,209 = 265.50%
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. | AutoZone Inc. MVA margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |