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.
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- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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MVA
Autodesk Inc., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
- Market (fair) value of Autodesk
- The market value exhibits a fluctuating trend over the years. It decreased slightly from 35,828 million USD in 2019 to 35,346 million USD in 2020. This was followed by a significant increase to 59,621 million USD in 2021, representing strong growth. However, a decline occurred in 2022, reducing the value to 43,819 million USD. Subsequently, there was a moderate rise in 2023 and 2024, reaching 45,008 million USD and 48,843 million USD respectively, indicating a partial recovery and growth in market valuation.
- Invested capital
- Invested capital shows a steady upward trend over the observed period. Beginning at 4,412 million USD in 2019, it increased consistently each year, reaching 7,325 million USD by 2024. The growth appears gradual but steady, denoting ongoing investment in the company's operations and assets.
- Market value added (MVA)
- The MVA trends closely mirror the fluctuations seen in the market value. Starting at 31,416 million USD in 2019, it decreased slightly in 2020 to 29,811 million USD. Then, it rose dramatically in 2021 to 53,897 million USD, showing value creation above the invested capital. This was followed by a decline in 2022 to 36,985 million USD, with a slight improvement in 2023 and 2024, reaching 37,636 million USD and 41,518 million USD respectively. These movements suggest periods of value volatility, with strong value creation notably in 2021 and recovery phases thereafter.
MVA Spread Ratio
Autodesk Inc., MVA spread ratio calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | |||||||
| Invested capital2 | |||||||
| Performance Ratio | |||||||
| MVA spread ratio3 | |||||||
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 MVA. See details »
2 Invested capital. See details »
3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × ÷ =
4 Click competitor name to see calculations.
- Market Value Added (MVA)
- Market value added exhibited notable fluctuations over the six-year period. After a slight decline from 31,416 million USD in 2019 to 29,811 million USD in 2020, the figure sharply increased to 53,897 million USD in 2021. This was followed by a decline to 36,985 million USD in 2022. Subsequently, MVA showed modest growth with values of 37,636 million USD in 2023 and 41,518 million USD in 2024. Overall, the trend reflects periods of volatility with a peak in 2021 and partial recovery thereafter.
- Invested Capital
- Invested capital rose steadily from 4,412 million USD in 2019 to a peak of 7,372 million USD in 2023. A slight decrease was observed in 2024, with invested capital declining marginally to 7,325 million USD. The general trend indicates consistent capital investment growth over the period, with only a minor retraction in the final year.
- MVA Spread Ratio
- The MVA spread ratio percentage demonstrated significant variability. It started at a very high level of 712.11% in 2019, then decreased to 538.6% in 2020. A sharp increase to 941.72% occurred in 2021, corresponding with the peak in MVA. Following 2021, the ratio experienced a considerable decline to 541.13% in 2022 and continued to decrease to 510.53% in 2023. In 2024, it showed a slight rebound to 566.79%. This pattern suggests fluctuations in the efficiency or profitability implied by the market value added relative to invested capital.
- Summary of Trends and Insights
- The data reveals that while invested capital generally increased, market value added did not follow a consistent trend, showing volatility with a significant peak in 2021. The MVA spread ratio's fluctuation aligns with these dynamics, reflecting changing returns on invested capital. The peak in 2021 may indicate exceptional value creation or market conditions favorable to the company, while subsequent years show stabilization but at lower comparative levels. The modest recovery in MVA and spread ratio in 2024 suggests a potential positive shift after the declines in 2022 and 2023.
MVA Margin
Autodesk Inc., MVA margin calculation, comparison to benchmarks
| Jan 31, 2024 | Jan 31, 2023 | Jan 31, 2022 | Jan 31, 2021 | Jan 31, 2020 | Jan 31, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | |||||||
| Net revenue | |||||||
| Add: Increase (decrease) in deferred revenue | |||||||
| Adjusted net revenue | |||||||
| Performance Ratio | |||||||
| MVA margin2 | |||||||
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Accenture PLC | |||||||
| Adobe Inc. | |||||||
| Cadence Design Systems Inc. | |||||||
| CrowdStrike Holdings Inc. | |||||||
| Fair Isaac Corp. | |||||||
| International Business Machines Corp. | |||||||
| Intuit Inc. | |||||||
| Microsoft Corp. | |||||||
| Oracle Corp. | |||||||
| Palantir Technologies Inc. | |||||||
| Palo Alto Networks Inc. | |||||||
| Salesforce Inc. | |||||||
| ServiceNow Inc. | |||||||
| Synopsys Inc. | |||||||
| Workday Inc. | |||||||
Based on: 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31).
1 MVA. See details »
2 2024 Calculation
MVA margin = 100 × MVA ÷ Adjusted net revenue
= 100 × ÷ =
3 Click competitor name to see calculations.
- Market Value Added (MVA)
- The MVA shows notable fluctuations over the periods analyzed. It decreased from 31,416 million USD in January 2019 to 29,811 million USD in January 2020, reflecting a slight decline. Subsequently, there was a significant increase to 53,897 million USD in January 2021, indicating improved market valuation or investor perception. Following this peak, MVA declined sharply to 36,985 million USD in January 2022 and remained relatively stable around 37,636 million USD in January 2023. In the most recent period, January 2024, MVA increased to 41,518 million USD, recovering some value but still below the 2021 high.
- Adjusted Net Revenue
- Adjusted net revenue exhibited a general upward trend until January 2023, increasing from 2,706 million USD in January 2019 to a peak of 5,795 million USD in January 2023. Notable growth is observed between 2019 and 2020, with revenue rising sharply by over 50%. Revenues maintained a level above 4,000 million USD from 2020 onwards, indicating stable performance in the later years. In the latest period, January 2024, adjusted net revenue decreased somewhat to 5,181 million USD, indicating a slight contraction after previous growth.
- MVA Margin
- The MVA margin, representing the ratio of market value added relative to revenue, demonstrates high volatility across the periods. It started extremely high at 1,160.93% in January 2019 and then declined substantially to 711.47% in January 2020. A notable peak occurred in January 2021 at 1,300.77%, surpassing all other years and aligning with the highest MVA recorded. Afterward, the margin fell to 767.95% in January 2022 and decreased further to 649.46% in January 2023, the lowest ratio in the period observed. The margin increased again to 801.34% at January 2024, suggesting some recovery in market valuation efficiency relative to revenue.
- Overall Insights
- The data reveal a pattern of volatility, especially in market valuation measures. Market value added and its margin relative to revenue experienced sharp rises and declines, peaking notably in early 2021. Adjusted net revenue demonstrated a generally positive growth trend with resilience post-2020, though with a slight downturn in the most recent year. The disconnect between revenue progression and MVA margin implies variations in market sentiment or external factors impacting the company’s perceived value beyond operational performance. The partial recovery in MVA and its margin as of January 2024 may indicate improving conditions or renewed investor confidence.