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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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
- Aggregate Accruals
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MVA
Qualcomm Inc., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27).
1 Fair value of debt. See details »
2 Invested capital. See details »
- Market (fair) value of Qualcomm
- The market value experienced an increase from 159,828 million USD in 2020 to a peak of 167,854 million USD in 2021, followed by a decline to 135,516 million USD in 2023. Subsequently, the value rebounded significantly to reach 201,847 million USD in 2024 and showed a slight increase to 202,877 million USD in 2025. This indicates a recovery and growth in market value after a dip during the intermediate years.
- Invested capital
- The invested capital demonstrates a consistent upward trend throughout the period. Starting at 17,459 million USD in 2020, the figure steadily rose to 20,003 million USD in 2021 and then saw a more pronounced increase to 29,132 million USD in 2022. The trend continued with modest increases to 31,383 million USD in 2023, a slight dip to 30,887 million USD in 2024, and a rise again to 31,317 million USD in 2025. Overall, the invested capital nearly doubled over the five-year span, suggesting ongoing investment and capital allocation growth.
- Market value added (MVA)
- The Market Value Added follows a pattern similar to the market value, beginning at 142,369 million USD in 2020 and rising slightly to 147,851 million USD in 2021. Thereafter, MVA decreased to 108,548 million USD in 2022 and further to 104,133 million USD in 2023. A sharp recovery is seen in 2024 with MVA increasing to 170,960 million USD, followed by a slight rise to 171,560 million USD in 2025. This movement suggests fluctuations in the company's value creation over the years, with strong improvements toward the latter years despite earlier declines.
MVA Spread Ratio
Qualcomm Inc., MVA spread ratio calculation, comparison to benchmarks
| Sep 28, 2025 | Sep 29, 2024 | Sep 24, 2023 | Sep 25, 2022 | Sep 26, 2021 | Sep 27, 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. | |||||||
| Intel Corp. | |||||||
| KLA Corp. | |||||||
| Lam Research Corp. | |||||||
| Micron Technology Inc. | |||||||
| NVIDIA Corp. | |||||||
| Texas Instruments Inc. | |||||||
Based on: 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27).
1 MVA. See details »
2 Invested capital. See details »
3 2025 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × ÷ =
4 Click competitor name to see calculations.
- Market Value Added (MVA)
- The Market Value Added experienced fluctuations over the observed periods. Initially, there was a slight increase from 142,369 million USD to 147,851 million USD between the years ending in September 2020 and 2021. However, this was followed by a notable decline, with MVA decreasing to 108,548 million USD in 2022 and further slightly to 104,133 million USD in 2023. In the subsequent years, the MVA showed a significant recovery, rising sharply to 170,960 million USD in 2024 and stabilizing closely at 171,560 million USD in 2025.
- Invested Capital
- The invested capital demonstrated an overall increasing trend across the time frames. Starting at 17,459 million USD in 2020, it increased steadily each year, reaching 31,383 million USD in 2023. A minor decline was observed in 2024, dropping to 30,887 million USD, but this was followed by a slight rebound to 31,317 million USD in 2025. This indicates a general expansion in the capital base with some minor fluctuations in the mid-to-late period.
- MVA Spread Ratio
- The MVA spread ratio, expressed as a percentage, mirrored the pattern observed in the MVA metric but remained at much higher levels in the earlier years before declining notably. The ratio fell from a very high level of 815.45% in 2020 to 739.14% in 2021. It then saw a sharp deterioration, dropping to 372.61% in 2022 and bottoming out at 331.81% in 2023. There was a significant recovery in the subsequent years, with the ratio increasing to 553.5% in 2024 and slightly decreasing to 547.82% in 2025.
- Overall Trends and Insights
- The data exhibits a pattern of initial growth in value creation and capital investment, followed by a period of decline and subsequent recovery. The decreasing trend in MVA and MVA spread ratio from 2021 to 2023 suggests challenges in generating market value relative to invested capital during that period. The recovery in both metrics starting in 2024 signals an improvement in the economic value added, reflecting possibly improved operational performance or market conditions. The invested capital's steady growth indicates ongoing investment, which could be a foundation for the latter recovery in market value metrics.
MVA Margin
Qualcomm Inc., MVA margin calculation, comparison to benchmarks
| Sep 28, 2025 | Sep 29, 2024 | Sep 24, 2023 | Sep 25, 2022 | Sep 26, 2021 | Sep 27, 2020 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | |||||||
| Revenues | |||||||
| Add: Increase (decrease) in unearned revenues | |||||||
| Adjusted revenues | |||||||
| Performance Ratio | |||||||
| MVA margin2 | |||||||
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Advanced Micro Devices Inc. | |||||||
| Analog Devices Inc. | |||||||
| Applied Materials Inc. | |||||||
| Broadcom Inc. | |||||||
| Intel Corp. | |||||||
| KLA Corp. | |||||||
| Lam Research Corp. | |||||||
| Micron Technology Inc. | |||||||
| NVIDIA Corp. | |||||||
| Texas Instruments Inc. | |||||||
Based on: 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27).
1 MVA. See details »
2 2025 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × ÷ =
3 Click competitor name to see calculations.
- Market Value Added (MVA)
- The Market Value Added exhibited fluctuations over the observed periods. It initially increased from 142,369 million USD in 2020 to a peak of 147,851 million USD in 2021. This was followed by a notable decline for two consecutive years, reaching a low of 104,133 million USD in 2023. Subsequently, it rebounded significantly, reaching 170,960 million USD in 2024 and slightly increasing further to 171,560 million USD in 2025. The overall pattern suggests periods of volatility with recovery in the latter years.
- Adjusted Revenues
- Adjusted revenues showed a consistent upward trend, increasing from 23,135 million USD in 2020 to 43,328 million USD in 2025. Despite a slight dip in 2023 to 35,699 million USD from a high of 43,737 million USD in 2022, revenues recovered in the subsequent years, indicating resilience and growth in the company's core earnings. This overall growth reflects expanding business operations or improved market conditions.
- MVA Margin
- The MVA margin experienced a declining trend from 615.38% in 2020 to its lowest point of 248.18% in 2022. A partial recovery followed in 2023, increasing to 291.7%, and a more significant rise occurred in 2024 to 438.87%. However, this was followed by a moderate decrease to 387.02% in 2025. The fluctuations in MVA margin parallel changes in both market value added and adjusted revenues, implying variable efficiency or market valuation relative to revenue generation during the periods.