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
Airbnb Inc., MVA calculation
US$ in millions
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).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Airbnb Inc. market (fair) value less invested capital. | Airbnb Inc. MVA decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
MVA Spread Ratio
Airbnb Inc., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Market value added (MVA)1 | 91,771) | 77,255) | 94,012) | 122,664) | |
| Invested capital2 | 5,829) | 6,849) | 5,836) | 4,764) | |
| Performance Ratio | |||||
| MVA spread ratio3 | 1,574.38% | 1,127.97% | 1,610.92% | 2,575.01% | |
| Benchmarks | |||||
| MVA Spread Ratio, Competitors4 | |||||
| Booking Holdings Inc. | 1,200.63% | 645.29% | 637.90% | 662.28% | |
| Carnival Corp. & plc | 31.19% | 0.38% | 20.45% | 1.99% | |
| Chipotle Mexican Grill Inc. | 1,142.83% | 775.53% | 750.93% | 835.30% | |
| McDonald’s Corp. | 430.22% | 426.12% | 393.79% | 359.83% | |
| Starbucks Corp. | 540.56% | 553.87% | 552.49% | 492.67% | |
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).
1 MVA. See details »
2 Invested capital. See details »
3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 91,771 ÷ 5,829 = 1,574.38%
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. | Airbnb Inc. MVA spread ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
MVA Margin
Airbnb Inc., MVA margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Market value added (MVA)1 | 91,771) | 77,255) | 94,012) | 122,664) | |
| Revenue | 9,917) | 8,399) | 5,992) | 3,378) | |
| Add: Increase (decrease) in unearned fees | 245) | 278) | 496) | (267) | |
| Adjusted revenue | 10,162) | 8,677) | 6,488) | 3,111) | |
| Performance Ratio | |||||
| MVA margin2 | 903.08% | 890.34% | 1,449.11% | 3,942.51% | |
| Benchmarks | |||||
| MVA Margin, Competitors3 | |||||
| Booking Holdings Inc. | 641.48% | 515.10% | 873.43% | 1,419.18% | |
| Carnival Corp. & plc | 56.95% | 1.40% | 498.53% | 17.42% | |
| Chipotle Mexican Grill Inc. | 693.54% | 483.19% | 544.85% | 685.47% | |
| McDonald’s Corp. | 844.34% | 834.91% | 808.92% | 875.15% | |
| Starbucks Corp. | 334.25% | 352.88% | 450.20% | 480.36% | |
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).
1 MVA. See details »
2 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenue
= 100 × 91,771 ÷ 10,162 = 903.08%
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. | Airbnb Inc. MVA margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |