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
CVS Health Corp., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | CVS Health Corp. market (fair) value less invested capital. | CVS Health Corp. MVA decreased from 2022 to 2023 and from 2023 to 2024. |
MVA Spread Ratio
CVS Health Corp., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | (5,613) | 11,334) | 33,072) | 64,800) | 28,656) | |
| Invested capital2 | 131,642) | 134,694) | 123,703) | 130,882) | 136,669) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | -4.26% | 8.41% | 26.73% | 49.51% | 20.97% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Abbott Laboratories | 313.58% | 257.59% | 230.60% | 266.78% | 300.18% | |
| Cigna Group | 37.77% | 49.48% | 36.39% | 21.75% | 20.67% | |
| Elevance Health Inc. | 51.49% | 105.63% | 108.49% | 116.25% | 72.69% | |
| Intuitive Surgical Inc. | 2,431.18% | 1,699.53% | 1,400.02% | 2,002.36% | 1,853.43% | |
| Medtronic PLC | 74.24% | 88.43% | 93.80% | 163.10% | 107.64% | |
| UnitedHealth Group Inc. | 159.51% | 192.81% | 214.27% | 265.59% | 189.93% | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 MVA. See details »
2 Invested capital. See details »
3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × -5,613 ÷ 131,642 = -4.26%
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. | CVS Health Corp. MVA spread ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
MVA Margin
CVS Health Corp., MVA margin calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | (5,613) | 11,334) | 33,072) | 64,800) | 28,656) | |
| Revenues from customers | 370,656) | 356,623) | 321,629) | 290,912) | 267,908) | |
| Performance Ratio | ||||||
| MVA margin2 | -1.51% | 3.18% | 10.28% | 22.27% | 10.70% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Abbott Laboratories | 448.99% | 383.09% | 323.76% | 384.46% | 523.78% | |
| Cigna Group | 12.53% | 21.87% | 17.38% | 11.43% | 12.17% | |
| Elevance Health Inc. | 22.99% | 43.23% | 46.56% | 54.23% | 34.07% | |
| Intuitive Surgical Inc. | 2,261.68% | 1,695.34% | 1,209.45% | 1,575.51% | 1,900.32% | |
| Medtronic PLC | 157.30% | 199.61% | 205.92% | 391.27% | 264.99% | |
| UnitedHealth Group Inc. | 80.18% | 95.85% | 109.81% | 130.39% | 96.88% | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 MVA. See details »
2 2024 Calculation
MVA margin = 100 × MVA ÷ Revenues from customers
= 100 × -5,613 ÷ 370,656 = -1.51%
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. | CVS Health Corp. MVA margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |