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
Texas Pacific Land Corp., MVA calculation
US$ in thousands
Based on: 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), 10-K (reporting date: 2019-12-31).
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Texas Pacific Land Corp. market (fair) value less invested capital. | Texas Pacific Land Corp. MVA increased from 2021 to 2022 but then slightly decreased from 2022 to 2023. |
MVA Spread Ratio
Texas Pacific Land Corp., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 10,558,986) | 12,928,093) | 7,123,147) | 8,070,887) | 4,688,497) | |
| Invested capital2 | 1,117,290) | 840,706) | 718,143) | 555,694) | 575,173) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 945.05% | 1,537.77% | 991.88% | 1,452.40% | 815.15% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Chevron Corp. | 47.11% | 57.71% | 54.49% | 25.83% | 21.23% | |
| ConocoPhillips | 83.41% | 93.55% | 86.17% | 63.43% | 38.09% | |
| Exxon Mobil Corp. | 51.71% | 67.23% | 42.25% | 18.54% | -5.98% | |
| Occidental Petroleum Corp. | 37.27% | 44.52% | 34.32% | 9.79% | -5.81% | |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 10,558,986 ÷ 1,117,290 = 945.05%
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. | Texas Pacific Land Corp. MVA spread ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
MVA Margin
Texas Pacific Land Corp., MVA margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 10,558,986) | 12,928,093) | 7,123,147) | 8,070,887) | 4,688,497) | |
| Revenues | 631,595) | 667,422) | 450,958) | 302,554) | 490,496) | |
| Add: Increase (decrease) in unearned revenue | 5,140) | 1,938) | (1,910) | 8,787) | 4,012) | |
| Adjusted revenues | 636,735) | 669,360) | 449,048) | 311,341) | 494,508) | |
| Performance Ratio | ||||||
| MVA margin2 | 1,658.30% | 1,931.41% | 1,586.28% | 2,592.30% | 948.11% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Chevron Corp. | 50.80% | 51.99% | 67.80% | 53.96% | 29.71% | |
| ConocoPhillips | 120.75% | 90.01% | 143.57% | 171.77% | 67.50% | |
| Exxon Mobil Corp. | 47.47% | 50.09% | 41.64% | 28.44% | -7.10% | |
| Occidental Petroleum Corp. | 75.01% | 68.42% | 76.78% | 34.78% | -23.98% | |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 MVA. See details »
2 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 10,558,986 ÷ 636,735 = 1,658.30%
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. | Texas Pacific Land Corp. MVA margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |