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 Liquidity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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MVA
Intel Corp., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
1 Fair value of debt. See details »
2 Invested capital. See details »
The financial data exhibits several noticeable trends and variations over the five-year period ending in December 2024.
- Market (fair) value of Intel
- The market value demonstrates a fluctuating pattern with a significant overall decline. Initially, the value stood at approximately $249.6 billion in late 2020, followed by a decrease to roughly $211.0 billion in 2021. This downward trend continued more sharply into 2022, hitting a low near $138.5 billion. However, in 2023, there was a notable recovery to around $217.8 billion before dropping again in 2024 to about $119.2 billion, the lowest point in the period analyzed. This suggests volatility in market perceptions or external factors impacting the company's market valuation.
- Invested capital
- The invested capital shows a relatively stable and modest upward trend over the same period. Starting at approximately $82.0 billion in 2020, it increased gradually each year: to around $88.5 billion in 2021, peaking marginally at $92.3 billion by the end of 2024. This steady increase implies ongoing investments in assets or operations, reflecting a commitment to maintaining or expanding capital resources despite the fluctuations in market value.
- Market value added (MVA)
- Market value added exhibits a declining trend overall, indicating a reduction in the market's premium over the invested capital. The MVA was highest in 2020 at about $167.6 billion, then decreased substantially to $122.5 billion in 2021 and dropped further to $49.8 billion in 2022. A partial rebound is observed in 2023, climbing back to approximately $125.7 billion, followed by another sharp decline in 2024 to roughly $26.9 billion. This reflects a diminished market valuation relative to invested capital, suggesting challenges in value creation or investor confidence during the most recent years.
MVA Spread Ratio
Intel Corp., MVA spread ratio calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | ||||||
| Invested capital2 | ||||||
| Performance Ratio | ||||||
| MVA spread ratio3 | ||||||
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| Monolithic Power Systems Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
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.
The data reveals significant fluctuations in the financial metrics over the five-year period under review. A key observation is the notable variation in Market Value Added (MVA), which initially stands at a high value before experiencing a substantial decline, recovering in the subsequent year, and then sharply decreasing again by the end of the period.
- Market Value Added (MVA)
- The MVA decreases from $167,618 million in 2020 to $122,540 million in 2021, marking a considerable decline. This downward trajectory continues more dramatically in 2022, dropping to $49,808 million. A recovery trend is observed in 2023, with MVA increasing to $125,714 million, yet this rise is not sustained as it falls sharply again to $26,897 million by 2024. Overall, the MVA shows high volatility and a general downward trend from the beginning to the end of the period.
- Invested Capital
- Invested capital demonstrates a steady, gradual increase over the same period. Starting at $81,967 million in 2020, it rises consistently each year, reaching $92,296 million by 2024. This steady growth indicates ongoing investment and resource allocation despite the fluctuations observed in other metrics.
- MVA Spread Ratio
- The MVA spread ratio, which reflects the efficiency in generating value over invested capital, aligns with the trends in MVA. It registers a high percentage of 204.49% in 2020, decreases to 138.47% in 2021, and plunges to 56.17% in 2022. It rebounds in 2023 to 136.5%, evidencing improved value creation, but then drastically declines to 29.14% in 2024. This ratio underscores variability in the company’s ability to add market value relative to its invested capital throughout the period.
In summary, while invested capital shows consistent growth, the company’s market value added and its efficiency in value creation as represented by the MVA spread ratio display marked volatility and overall decline by the end of the period. This pattern suggests challenges in sustaining market value growth relative to invested resources during the most recent year assessed.
MVA Margin
Intel Corp., MVA margin calculation, comparison to benchmarks
| Dec 28, 2024 | Dec 30, 2023 | Dec 31, 2022 | Dec 25, 2021 | Dec 26, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | ||||||
| Net revenue | ||||||
| Performance Ratio | ||||||
| MVA margin2 | ||||||
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| Advanced Micro Devices Inc. | ||||||
| Analog Devices Inc. | ||||||
| Applied Materials Inc. | ||||||
| Broadcom Inc. | ||||||
| KLA Corp. | ||||||
| Lam Research Corp. | ||||||
| Micron Technology Inc. | ||||||
| Monolithic Power Systems Inc. | ||||||
| NVIDIA Corp. | ||||||
| Qualcomm Inc. | ||||||
| Texas Instruments Inc. | ||||||
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
1 MVA. See details »
2 2024 Calculation
MVA margin = 100 × MVA ÷ Net revenue
= 100 × ÷ =
3 Click competitor name to see calculations.
- Market Value Added (MVA)
- The Market Value Added exhibited significant fluctuations over the analyzed period. It started at a high level of approximately 167.6 billion US dollars at the end of 2020, followed by a notable decline to around 122.5 billion in 2021. The downward trend intensified in 2022, reaching a low of roughly 49.8 billion. However, a recovery occurred in 2023, with MVA increasing to approximately 125.7 billion, before declining again substantially to about 26.9 billion by the end of 2024. This pattern suggests volatility in market perception or company valuation during these years.
- Net Revenue
- Net revenue showed a generally declining trend throughout the period. Starting near 77.9 billion US dollars at the end of 2020, revenue slightly increased in 2021 to approximately 79.0 billion, representing the peak year in the series. From 2022 onwards, revenue continuously decreased to 63.1 billion, then 54.2 billion, and finally 53.1 billion by 2024. This consistent drop over the last three years indicates decreased sales or other revenue-generating activities.
- MVA Margin
- The MVA margin, which reflects the ratio of Market Value Added to Net Revenue, showed considerable variability. It started very high at 215.26% in 2020, then declined sharply to 155.07% in 2021 and further to 78.99% in 2022. A significant increase was recorded in 2023, peaking at 231.83%, before falling again steeply to 50.65% in 2024. This pattern highlights the disconnect between revenue changes and market valuation effects, with margin expansions and contractions suggesting changing investor expectations or company performance efficiency.