Stock Analysis on Net

Express Scripts Holding Co. (NASDAQ:ESRX)

This company has been moved to the archive! The financial data has not been updated since October 31, 2018.

Market Value Added (MVA)

Microsoft Excel

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

Express Scripts Holding Co., MVA calculation

US$ in thousands

Microsoft Excel
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Fair value of debt1 16,361,200 15,808,800 15,988,600 14,200,200 14,562,800
Operating lease liability 236,952 240,743 266,786 294,809 321,730
Market value of common equity 44,380,248 42,176,284 45,861,358 63,036,595 59,847,588
Preferred stock, $0.01 par value per share; and no shares issued and outstanding
Non-controlling interest 5,700 7,800 7,700 9,800 7,400
Market (fair) value of Express Scripts 60,984,100 58,233,626 62,124,444 77,541,403 74,739,517
Less: Invested capital2 37,007,152 35,712,343 37,411,086 38,622,209 41,289,230
MVA 23,976,948 22,521,284 24,713,358 38,919,195 33,450,288

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Express Scripts Holding Co. market (fair) value less invested capital. Express Scripts Holding Co. MVA decreased from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.

MVA Spread Ratio

Express Scripts Holding Co., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 23,976,948 22,521,284 24,713,358 38,919,195 33,450,288
Invested capital2 37,007,152 35,712,343 37,411,086 38,622,209 41,289,230
Performance Ratio
MVA spread ratio3 64.79% 63.06% 66.06% 100.77% 81.01%
Benchmarks
MVA Spread Ratio, Competitors4
Abbott Laboratories
Cigna Group
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

1 MVA. See details »

2 Invested capital. See details »

3 2017 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 23,976,948 ÷ 37,007,152 = 64.79%

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. Express Scripts Holding Co. MVA spread ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.

MVA Margin

Express Scripts Holding Co., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 23,976,948 22,521,284 24,713,358 38,919,195 33,450,288
Revenues 100,064,600 100,287,500 101,751,800 100,887,100 104,098,800
Performance Ratio
MVA margin2 23.96% 22.46% 24.29% 38.58% 32.13%
Benchmarks
MVA Margin, Competitors3
Abbott Laboratories
Cigna Group
CVS Health Corp.
Danaher Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

1 MVA. See details »

2 2017 Calculation
MVA margin = 100 × MVA ÷ Revenues
= 100 × 23,976,948 ÷ 100,064,600 = 23.96%

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. Express Scripts Holding Co. MVA margin ratio deteriorated from 2015 to 2016 but then improved from 2016 to 2017 not reaching 2015 level.