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.
MVA
DexCom Inc., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | DexCom Inc. market (fair) value less invested capital. | DexCom Inc. MVA increased from 2020 to 2021 and from 2021 to 2022. |
MVA Spread Ratio
DexCom Inc., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 41,606,104) | 40,129,713) | 39,531,354) | 23,428,443) | 12,930,058) | |
| Invested capital2 | 1,649,000) | 1,899,300) | 1,367,200) | 836,300) | 1,449,197) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 2,523.11% | 2,112.87% | 2,891.41% | 2,801.44% | 892.22% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Abbott Laboratories | 230.60% | 266.78% | 300.18% | 202.12% | — | |
| Cigna Group | 36.39% | 21.75% | 20.67% | 16.09% | — | |
| CVS Health Corp. | 26.73% | 49.51% | 20.97% | 20.89% | — | |
| Elevance Health Inc. | 108.24% | 115.84% | 72.12% | 79.88% | — | |
| Humana Inc. | 156.66% | 122.92% | 163.20% | 196.12% | — | |
| Intuitive Surgical Inc. | 1,400.02% | 2,002.36% | 1,853.43% | 1,771.30% | — | |
| Medtronic PLC | 93.80% | 163.10% | 107.64% | 113.36% | 91.81% | |
| UnitedHealth Group Inc. | 214.27% | 265.59% | 189.93% | 187.47% | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2022 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 41,606,104 ÷ 1,649,000 = 2,523.11%
4 Click competitor name to see calculations.
| 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. | DexCom Inc. MVA spread ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level. |
MVA Margin
DexCom Inc., MVA margin calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Market value added (MVA)1 | 41,606,104) | 40,129,713) | 39,531,354) | 23,428,443) | 12,930,058) | |
| Revenue | 2,909,800) | 2,448,500) | 1,926,700) | 1,476,000) | 1,031,600) | |
| Add: Increase (decrease) in deferred revenue | 10,900) | (100) | 500) | (1,200) | (300) | |
| Adjusted revenue | 2,920,700) | 2,448,400) | 1,927,200) | 1,474,800) | 1,031,300) | |
| Performance Ratio | ||||||
| MVA margin2 | 1,424.53% | 1,639.02% | 2,051.23% | 1,588.58% | 1,253.76% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Abbott Laboratories | 323.76% | 384.46% | 523.78% | 368.47% | — | |
| Cigna Group | 17.38% | 11.43% | 12.17% | 9.91% | — | |
| CVS Health Corp. | 10.28% | 22.27% | 10.70% | 11.44% | — | |
| Elevance Health Inc. | 46.51% | 54.14% | 33.92% | 42.99% | — | |
| Humana Inc. | 49.25% | 45.49% | 46.87% | 57.53% | — | |
| Intuitive Surgical Inc. | 1,209.45% | 1,575.51% | 1,900.32% | 1,312.48% | — | |
| Medtronic PLC | 205.92% | 391.27% | 264.99% | 269.43% | 217.26% | |
| UnitedHealth Group Inc. | 109.81% | 130.39% | 96.88% | 91.49% | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 2022 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenue
= 100 × 41,606,104 ÷ 2,920,700 = 1,424.53%
3 Click competitor name to see calculations.
| Performance ratio | Description | The company |
|---|---|---|
| MVA margin | The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. | DexCom Inc. MVA margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |