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Microsoft Excel LibreOffice Calc

Alphabet Inc. (NASDAQ:GOOG)


Market Value Added (MVA)

Advanced level

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

Alphabet Inc., MVA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Fair value of debt1
Operating lease liability
Market value of common equity
Convertible preferred stock, $0.001 par value per share; no shares issued and outstanding
Less: Marketable securities
Market (fair) value of Alphabet
Less: Invested capital2
MVA

Based on: 10-K (filing date: 2020-02-04), 10-K (filing date: 2019-02-05), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-11).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Alphabet Inc.’s market (fair) value less invested capital. Alphabet Inc.’s MVA increased from 2017 to 2018 and from 2018 to 2019.

MVA Spread Ratio

Alphabet Inc., MVA spread ratio calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Invested capital2
Performance Ratio
MVA spread ratio3

Based on: 10-K (filing date: 2020-02-04), 10-K (filing date: 2019-02-05), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 Invested capital. See details »

3 2019 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × ÷ =

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. Alphabet Inc.’s MVA spread ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

MVA Margin

Alphabet Inc., MVA margin calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Revenues
Add: Increase (decrease) in deferred revenue
Adjusted revenues
Performance Ratio
MVA margin2

Based on: 10-K (filing date: 2020-02-04), 10-K (filing date: 2019-02-05), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 2019 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × ÷ =

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Alphabet Inc.’s MVA margin ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.