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
Western Digital Corp., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Western Digital Corp. market (fair) value less invested capital. | Western Digital Corp. MVA decreased from 2021 to 2022 and from 2022 to 2023. |
MVA Spread Ratio
Western Digital Corp., MVA spread ratio calculation, comparison to benchmarks
| Jun 30, 2023 | Jul 1, 2022 | Jul 2, 2021 | Jul 3, 2020 | Jun 28, 2019 | Jun 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | 1,935) | 2,283) | 9,352) | 1,633) | 5,175) | 7,331) | |
| Invested capital2 | 18,928) | 19,768) | 19,579) | 19,684) | 21,085) | 22,667) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 10.22% | 11.55% | 47.77% | 8.29% | 24.54% | 32.34% | |
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Apple Inc. | 4,423.16% | 5,157.62% | 5,626.48% | 4,945.07% | 2,012.85% | 3,193.19% | |
| Arista Networks Inc. | 1,572.10% | 1,223.83% | 1,867.28% | 1,067.73% | 782.88% | — | |
| Cisco Systems Inc. | 279.75% | 214.20% | 329.31% | 225.53% | 295.15% | 309.66% | |
| Super Micro Computer Inc. | 466.54% | 91.02% | 50.29% | 20.26% | 2.20% | 13.26% | |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).
1 MVA. See details »
2 Invested capital. See details »
3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 1,935 ÷ 18,928 = 10.22%
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. | Western Digital Corp. MVA spread ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
MVA Margin
Western Digital Corp., MVA margin calculation, comparison to benchmarks
| Jun 30, 2023 | Jul 1, 2022 | Jul 2, 2021 | Jul 3, 2020 | Jun 28, 2019 | Jun 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | 1,935) | 2,283) | 9,352) | 1,633) | 5,175) | 7,331) | |
| Revenue, net | 12,318) | 18,793) | 16,922) | 16,736) | 16,569) | 20,647) | |
| Performance Ratio | |||||||
| MVA margin2 | 15.71% | 12.15% | 55.27% | 9.75% | 31.23% | 35.51% | |
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Apple Inc. | 695.76% | 609.53% | 653.71% | 648.08% | 392.95% | 317.17% | |
| Arista Networks Inc. | 1,189.21% | 844.68% | 1,096.71% | 834.74% | 575.84% | — | |
| Cisco Systems Inc. | 278.31% | 240.26% | 367.17% | 235.28% | 311.35% | 308.27% | |
| Super Micro Computer Inc. | 158.07% | 38.71% | 18.13% | 7.52% | 0.71% | 4.29% | |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29).
1 MVA. See details »
2 2023 Calculation
MVA margin = 100 × MVA ÷ Revenue, net
= 100 × 1,935 ÷ 12,318 = 15.71%
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. | Western Digital Corp. MVA margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |