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
Vertex Pharmaceuticals Inc., 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).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Vertex Pharmaceuticals Inc. market (fair) value less invested capital. | Vertex Pharmaceuticals Inc. MVA increased from 2021 to 2022 and from 2022 to 2023. |
MVA Spread Ratio
Vertex Pharmaceuticals Inc., 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 | 94,331,439) | 63,793,995) | 53,028,211) | 46,849,077) | 57,351,395) | |
| Invested capital2 | 13,244,000) | 13,178,000) | 9,387,100) | 8,144,266) | 4,870,596) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 712.26% | 484.09% | 564.91% | 575.24% | 1,177.50% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| AbbVie Inc. | 438.96% | 297.39% | 253.64% | 172.70% | 236.51% | |
| Amgen Inc. | 207.91% | 308.27% | 303.88% | 343.98% | 341.92% | |
| Bristol-Myers Squibb Co. | 100.64% | 160.91% | 138.81% | 109.83% | 90.05% | |
| Danaher Corp. | 157.62% | 156.95% | 187.44% | 172.97% | 135.15% | |
| Eli Lilly & Co. | 2,389.96% | 1,239.79% | 833.40% | 778.02% | 601.09% | |
| Gilead Sciences Inc. | 148.05% | 175.26% | 119.58% | 125.56% | 226.14% | |
| Johnson & Johnson | 309.06% | 288.03% | 366.17% | 363.07% | 335.85% | |
| Merck & Co. Inc. | 412.35% | 312.72% | 223.02% | 292.93% | 328.56% | |
| Pfizer Inc. | 40.45% | 124.43% | 210.66% | 116.68% | 95.96% | |
| Regeneron Pharmaceuticals Inc. | 663.41% | 521.52% | 461.61% | 508.24% | 460.29% | |
| Thermo Fisher Scientific Inc. | 189.49% | 195.28% | 211.22% | 232.26% | 171.11% | |
| Zoetis Inc. | 684.20% | 585.64% | 769.56% | 653.45% | 667.66% | |
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 × 94,331,439 ÷ 13,244,000 = 712.26%
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. | Vertex Pharmaceuticals Inc. MVA spread ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
MVA Margin
Vertex Pharmaceuticals Inc., 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 | 94,331,439) | 63,793,995) | 53,028,211) | 46,849,077) | 57,351,395) | |
| Revenues | 9,869,200) | 8,930,700) | 7,574,400) | 6,205,683) | 4,162,821) | |
| Performance Ratio | ||||||
| MVA margin2 | 955.82% | 714.32% | 700.10% | 754.94% | 1,377.71% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| AbbVie Inc. | 551.18% | 420.74% | 432.93% | 391.08% | 446.12% | |
| Amgen Inc. | 540.65% | 493.74% | 503.37% | 550.26% | 575.79% | |
| Bristol-Myers Squibb Co. | 151.08% | 250.01% | 240.26% | 232.86% | 345.41% | |
| Danaher Corp. | 517.54% | 389.99% | 468.46% | 507.10% | 438.18% | |
| Eli Lilly & Co. | 2,058.21% | 1,055.66% | 769.29% | 778.57% | 578.77% | |
| Gilead Sciences Inc. | 251.89% | 295.97% | 211.56% | 259.24% | 321.38% | |
| Johnson & Johnson | 359.73% | 345.62% | 383.46% | 432.99% | 396.88% | |
| Merck & Co. Inc. | 479.92% | 390.05% | 323.90% | 349.01% | 376.50% | |
| Pfizer Inc. | 107.10% | 137.35% | 227.20% | 289.28% | 224.34% | |
| Regeneron Pharmaceuticals Inc. | 605.08% | 525.04% | 312.14% | 495.20% | 382.11% | |
| Thermo Fisher Scientific Inc. | 378.46% | 360.17% | 431.35% | 441.03% | 352.63% | |
| Zoetis Inc. | 924.92% | 909.05% | 1,149.19% | 1,131.37% | 1,049.26% | |
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 ÷ Revenues
= 100 × 94,331,439 ÷ 9,869,200 = 955.82%
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. | Vertex Pharmaceuticals Inc. MVA margin ratio improved from 2021 to 2022 and from 2022 to 2023. |