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Microsoft Excel LibreOffice Calc

Adobe Inc. (ADBE)

Market Value Added (MVA)

Difficulty: Advanced

Market value added (MVA) is the difference between a firms’s 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

Adobe Inc., MVA calculation

USD $ in thousands

Microsoft Excel LibreOffice Calc
Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014 Nov 29, 2013
Fair value of debt and capital lease obligations, including current portion1 hidden hidden hidden hidden hidden hidden
PV of operating lease payments2 hidden hidden hidden hidden hidden hidden
Market value of common equity hidden hidden hidden hidden hidden hidden
Preferred stock, $0.0001 par value; none issued hidden hidden hidden hidden hidden hidden
Less: Short-term investments hidden hidden hidden hidden hidden hidden
Market (fair) value of Adobe hidden hidden hidden hidden hidden hidden
Less: Invested capital3 hidden hidden hidden hidden hidden hidden
MVA hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).

1 Fair value of debt. See Details »

2 Present value of operating lease payments. See Details »

3 Invested capital. See Details »

Item Description The company
MVA Adobe Inc.’s market (fair) value less invested capital. Adobe Inc.’s MVA increased from 2016 to 2017 and from 2017 to 2018.

MVA Spread

Adobe Inc., MVA spread calculation

Microsoft Excel LibreOffice Calc
Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014 Nov 29, 2013
Selected Financial Data (USD $ in thousands)
Market value added (MVA)1 hidden hidden hidden hidden hidden hidden
Invested capital2 hidden hidden hidden hidden hidden hidden
Ratio
MVA spread3 hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).

2018 Calculations

1 MVA. See Details »

2 Invested capital. See Details »

3 MVA spread = 100 × MVA ÷ Invested capital
= 100 × hidden ÷ hidden = hidden

Ratio Description The company
MVA spread 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. Adobe Inc.’s MVA spread improved from 2016 to 2017 but then slightly deteriorated from 2017 to 2018 not reaching 2016 level.

MVA Margin

Adobe Inc., MVA margin calculation

Microsoft Excel LibreOffice Calc
Nov 30, 2018 Dec 1, 2017 Dec 2, 2016 Nov 27, 2015 Nov 28, 2014 Nov 29, 2013
Selected Financial Data (USD $ in thousands)
Market value added (MVA)1 hidden hidden hidden hidden hidden hidden
Revenue hidden hidden hidden hidden hidden hidden
Add: Increase (decrease) in deferred revenue hidden hidden hidden hidden hidden hidden
Adjusted revenue hidden hidden hidden hidden hidden hidden
Ratio
MVA margin2 hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).

2018 Calculations

1 MVA. See Details »

2 MVA margin = 100 × MVA ÷ Adjusted revenue
= 100 × hidden ÷ hidden = hidden

Ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Adobe Inc.’s MVA margin improved from 2016 to 2017 and from 2017 to 2018.