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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
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
Nov 30, 2018 | Dec 1, 2017 | Dec 2, 2016 | Nov 27, 2015 | Nov 28, 2014 | Nov 29, 2013 | ||
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Selected Financial Data (USD $ in thousands) | |||||||
Market value added (MVA)1 | ![]() |
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Invested capital2 | ![]() |
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Ratio | |||||||
MVA spread3 | ![]() |
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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 × ÷
=
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
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 × ÷
=
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. |