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
MVA Spread Ratio
MVA Margin

Bed Bath & Beyond Inc., MVA calculation

US$ in thousands

	Feb 26, 2022	Feb 27, 2021	Feb 29, 2020	Mar 2, 2019	Mar 3, 2018	Feb 25, 2017
Fair value of long term debt and finance lease liabilities¹	993,941)	1,118,000)	1,229,953)	1,491,734)	1,496,578)	1,496,703)
Operating lease liability	1,854,508)	1,869,828)	2,281,788)	2,298,308)	2,531,568)	2,702,735)
Market value of common equity	1,304,680)	2,883,014)	833,985)	2,207,212)	2,455,448)	5,713,251)
Preferred stock, $0.01 par value; no shares issued or outstanding	—)	—)	—)	—)	—)	—)
Less: Investment securities	19,200)	19,400)	405,900)	505,700)	397,400)	89,600)
Market (fair) value of Bed Bath & Beyond	4,133,929)	5,851,442)	3,939,826)	5,491,554)	6,086,194)	9,823,089)
Less: Invested capital²	3,288,320)	4,261,005)	5,094,957)	5,788,203)	6,556,645)	6,680,896)
MVA	845,609)	1,590,437)	(1,155,131)	(296,649)	(470,451)	3,142,193)

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

¹ Fair value of debt. See details »

² Invested capital. See details »

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Item	Description	The company
MVA	Bed Bath & Beyond Inc. market (fair) value less invested capital.	Bed Bath & Beyond Inc. MVA increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

Bed Bath & Beyond Inc., MVA spread ratio calculation, comparison to benchmarks

	Feb 26, 2022	Feb 27, 2021	Feb 29, 2020	Mar 2, 2019	Mar 3, 2018	Feb 25, 2017
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	845,609)	1,590,437)	(1,155,131)	(296,649)	(470,451)	3,142,193)
Invested capital²	3,288,320)	4,261,005)	5,094,957)	5,788,203)	6,556,645)	6,680,896)
Performance Ratio
MVA spread ratio³	25.72%	37.33%	-22.67%	-5.13%	-7.18%	47.03%
Benchmarks
MVA Spread Ratio, Competitors⁴
Amazon.com Inc.	342.01%	728.57%	1,053.43%	730.44%	—	—
Home Depot Inc.	681.54%	631.50%	547.47%	617.70%	—	—
Lowe’s Cos. Inc.	587.76%	457.91%	186.58%	334.01%	—	—
TJX Cos. Inc.	333.18%	327.36%	261.07%	334.48%	—	—

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

¹ MVA. See details »

² Invested capital. See details »

³ 2022 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 845,609 ÷ 3,288,320 = 25.72%

⁴ Click competitor name to see calculations.

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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.	Bed Bath & Beyond Inc. MVA spread ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Bed Bath & Beyond Inc., MVA margin calculation, comparison to benchmarks

	Feb 26, 2022	Feb 27, 2021	Feb 29, 2020	Mar 2, 2019	Mar 3, 2018	Feb 25, 2017
Selected Financial Data (US$ in thousands)
Market value added (MVA)¹	845,609)	1,590,437)	(1,155,131)	(296,649)	(470,451)	3,142,193)
Net sales	7,867,778)	9,233,028)	11,158,580)	12,028,797)	12,349,301)	12,215,757)
Performance Ratio
MVA margin²	10.75%	17.23%	-10.35%	-2.47%	-3.81%	25.72%
Benchmarks
MVA Margin, Competitors³
Amazon.com Inc.	178.50%	312.93%	408.23%	330.23%	—	—
Home Depot Inc.	216.66%	237.60%	181.62%	195.15%	—	—
Lowe’s Cos. Inc.	159.89%	145.00%	69.10%	115.18%	—	—
TJX Cos. Inc.	135.17%	227.93%	116.99%	149.26%	—	—

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

¹ MVA. See details »

² 2022 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 845,609 ÷ 7,867,778 = 10.75%

³ Click competitor name to see calculations.

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Performance ratio	Description	The company
MVA margin	The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value.	Bed Bath & Beyond Inc. MVA margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Market Value Added (MVA)

MVA

MVA Spread Ratio

MVA Margin