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
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 | HCA Healthcare Inc. market (fair) value less invested capital. | HCA Healthcare Inc. MVA increased from 2019 to 2020 and from 2020 to 2021. |
MVA Spread Ratio
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Market value added (MVA)1 | 80,382) | 65,907) | 57,708) | 55,519) | 45,874) | |
Invested capital2 | 36,837) | 34,570) | 33,534) | 29,729) | 27,635) | |
Performance Ratio | ||||||
MVA spread ratio3 | 218.21% | 190.65% | 172.09% | 186.75% | 166.00% | |
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 × 80,382 ÷ 36,837 = 218.21%
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. | HCA Healthcare Inc. MVA spread ratio improved from 2019 to 2020 and from 2020 to 2021. |
MVA Margin
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Market value added (MVA)1 | 80,382) | 65,907) | 57,708) | 55,519) | 45,874) | |
Revenues | 58,752) | 51,533) | 51,336) | 46,677) | 43,614) | |
Performance Ratio | ||||||
MVA margin2 | 136.82% | 127.89% | 112.41% | 118.94% | 105.18% | |
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 ÷ Revenues
= 100 × 80,382 ÷ 58,752 = 136.82%
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. | HCA Healthcare Inc. MVA margin ratio improved from 2019 to 2020 and from 2020 to 2021. |