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
Abiomed Inc., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Abiomed Inc. market (fair) value less invested capital. | Abiomed Inc. MVA increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level. |
MVA Spread Ratio
Abiomed Inc., MVA spread ratio calculation, comparison to benchmarks
| Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 9,211,960) | 11,336,044) | 7,784,733) | 10,975,901) | 16,924,322) | 5,513,197) | |
| Invested capital2 | 693,367) | 737,876) | 594,867) | 497,537) | 273,719) | 226,723) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 1,328.58% | 1,536.31% | 1,308.65% | 2,206.05% | 6,183.10% | 2,431.69% | |
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Abbott Laboratories | 230.60% | 266.78% | 300.18% | 202.12% | — | — | |
| Cigna Group | 36.39% | 21.75% | 20.67% | 16.09% | — | — | |
| CVS Health Corp. | 26.73% | 49.51% | 20.97% | 20.89% | — | — | |
| Elevance Health Inc. | 108.24% | 115.84% | 72.12% | 79.88% | — | — | |
| Humana Inc. | 156.66% | 122.92% | 163.20% | 196.12% | — | — | |
| Intuitive Surgical Inc. | 1,400.02% | 2,002.36% | 1,853.43% | 1,771.30% | — | — | |
| Medtronic PLC | 93.80% | 163.10% | 107.64% | 113.36% | 91.81% | — | |
| Shockwave Medical Inc. | 2,047.13% | 3,455.61% | 4,218.08% | 459.40% | — | — | |
| UnitedHealth Group Inc. | 214.27% | 265.59% | 189.93% | 187.47% | — | — | |
Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).
1 MVA. See details »
2 Invested capital. See details »
3 2022 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 9,211,960 ÷ 693,367 = 1,328.58%
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. | Abiomed Inc. MVA spread ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
MVA Margin
Abiomed Inc., MVA margin calculation, comparison to benchmarks
| Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | Mar 31, 2019 | Mar 31, 2018 | Mar 31, 2017 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 9,211,960) | 11,336,044) | 7,784,733) | 10,975,901) | 16,924,322) | 5,513,197) | |
| Revenue | 1,031,753) | 847,522) | 840,883) | 769,432) | 593,749) | 445,304) | |
| Add: Increase (decrease) in deferred revenue | 2,040) | 5,175) | 2,754) | 1,423) | 4,475) | 1,717) | |
| Adjusted revenue | 1,033,793) | 852,697) | 843,637) | 770,855) | 598,224) | 447,021) | |
| Performance Ratio | |||||||
| MVA margin2 | 891.08% | 1,329.43% | 922.76% | 1,423.86% | 2,829.09% | 1,233.32% | |
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Abbott Laboratories | 323.76% | 384.46% | 523.78% | 368.47% | — | — | |
| Cigna Group | 17.38% | 11.43% | 12.17% | 9.91% | — | — | |
| CVS Health Corp. | 10.28% | 22.27% | 10.70% | 11.44% | — | — | |
| Elevance Health Inc. | 46.51% | 54.14% | 33.92% | 42.99% | — | — | |
| Humana Inc. | 49.25% | 45.49% | 46.87% | 57.53% | — | — | |
| Intuitive Surgical Inc. | 1,209.45% | 1,575.51% | 1,900.32% | 1,312.48% | — | — | |
| Medtronic PLC | 205.92% | 391.27% | 264.99% | 269.43% | 217.26% | — | |
| Shockwave Medical Inc. | 1,329.51% | 2,539.18% | 5,679.41% | 1,698.10% | — | — | |
| UnitedHealth Group Inc. | 109.81% | 130.39% | 96.88% | 91.49% | — | — | |
Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).
1 MVA. See details »
2 2022 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenue
= 100 × 9,211,960 ÷ 1,033,793 = 891.08%
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. | Abiomed Inc. MVA margin ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |