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
Las Vegas Sands Corp., MVA calculation
US$ in millions
Based on: 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), 10-K (reporting date: 2018-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Las Vegas Sands Corp. market (fair) value less invested capital. | Las Vegas Sands Corp. MVA decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level. |
MVA Spread Ratio
Las Vegas Sands Corp., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 40,548) | 33,420) | 42,536) | 47,866) | 42,729) | |
| Invested capital2 | 18,926) | 15,828) | 15,949) | 18,011) | 19,047) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 214.24% | 211.15% | 266.70% | 265.76% | 224.33% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Airbnb Inc. | 1,127.97% | 1,610.92% | 2,575.01% | — | — | |
| Booking Holdings Inc. | 645.29% | 637.90% | 662.28% | 576.91% | — | |
| Chipotle Mexican Grill Inc. | 775.57% | 750.94% | 835.20% | 518.95% | — | |
| McDonald’s Corp. | 426.12% | 393.79% | 359.83% | 386.54% | — | |
| Starbucks Corp. | 553.87% | 552.49% | 492.67% | 499.06% | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2022 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 40,548 ÷ 18,926 = 214.24%
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. | Las Vegas Sands Corp. MVA spread ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
MVA Margin
Las Vegas Sands Corp., MVA margin calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 40,548) | 33,420) | 42,536) | 47,866) | 42,729) | |
| Net revenues | 4,110) | 4,234) | 3,612) | 13,739) | 13,729) | |
| Performance Ratio | ||||||
| MVA margin2 | 986.57% | 789.33% | 1,177.62% | 348.40% | 311.23% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Airbnb Inc. | 890.34% | 1,449.11% | 3,942.51% | — | — | |
| Booking Holdings Inc. | 515.10% | 873.43% | 1,419.18% | 422.06% | — | |
| Chipotle Mexican Grill Inc. | 483.21% | 544.85% | 685.40% | 390.97% | — | |
| McDonald’s Corp. | 834.91% | 808.92% | 875.15% | 781.31% | — | |
| Starbucks Corp. | 352.88% | 450.20% | 480.36% | 382.96% | — | |
Based on: 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), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 2022 Calculation
MVA margin = 100 × MVA ÷ Net revenues
= 100 × 40,548 ÷ 4,110 = 986.57%
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. | Las Vegas Sands Corp. MVA margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level. |