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
Edwards Lifesciences Corp., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Edwards Lifesciences Corp. market (fair) value less invested capital. | Edwards Lifesciences Corp. MVA increased from 2019 to 2020 and from 2020 to 2021. |
MVA Spread Ratio
Edwards Lifesciences Corp., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 61,770,837) | 50,626,379) | 44,373,810) | 33,995,898) | 25,290,573) | |
| Invested capital2 | 3,791,600) | 3,937,900) | 3,697,400) | 2,904,204) | 2,855,739) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 1,629.15% | 1,285.62% | 1,200.14% | 1,170.58% | 885.61% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Abbott Laboratories | 266.78% | 300.18% | — | — | — | |
| Cigna Group | 21.75% | 20.67% | — | — | — | |
| CVS Health Corp. | 49.51% | 20.97% | — | — | — | |
| Elevance Health Inc. | 116.25% | 72.69% | — | — | — | |
| Intuitive Surgical Inc. | 2,002.36% | 1,853.43% | — | — | — | |
| Medtronic PLC | 163.10% | 107.64% | 113.36% | — | — | |
| UnitedHealth Group Inc. | 265.59% | 189.93% | — | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2021 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 61,770,837 ÷ 3,791,600 = 1,629.15%
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. | Edwards Lifesciences Corp. MVA spread ratio improved from 2019 to 2020 and from 2020 to 2021. |
MVA Margin
Edwards Lifesciences Corp., MVA margin calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 61,770,837) | 50,626,379) | 44,373,810) | 33,995,898) | 25,290,573) | |
| Net sales | 5,232,500) | 4,386,300) | 4,348,000) | 3,722,800) | 3,435,300) | |
| Performance Ratio | ||||||
| MVA margin2 | 1,180.52% | 1,154.19% | 1,020.56% | 913.18% | 736.20% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Abbott Laboratories | 384.46% | 523.78% | — | — | — | |
| Cigna Group | 11.43% | 12.17% | — | — | — | |
| CVS Health Corp. | 22.27% | 10.70% | — | — | — | |
| Elevance Health Inc. | 54.23% | 34.07% | — | — | — | |
| Intuitive Surgical Inc. | 1,575.51% | 1,900.32% | — | — | — | |
| Medtronic PLC | 391.27% | 264.99% | 269.43% | — | — | |
| UnitedHealth Group Inc. | 130.39% | 96.88% | — | — | — | |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 MVA. See details »
2 2021 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 61,770,837 ÷ 5,232,500 = 1,180.52%
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. | Edwards Lifesciences Corp. MVA margin ratio improved from 2019 to 2020 and from 2020 to 2021. |