Stock Analysis on Net

Tesla Inc. (NASDAQ:TSLA)

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

Tesla Inc., MVA calculation

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Fair value of debt and finance leases1 5,636 3,285 8,738 34,433 15,836
Operating lease liability 4,343 2,649 2,039 1,540 1,184
Market value of common equity 608,072 548,086 937,753 828,766 145,799
Preferred stock; $0.001 par value; no shares issued and outstanding
Redeemable noncontrolling interests in subsidiaries 242 409 568 604 643
Noncontrolling interests in subsidiaries 733 785 826 850 849
Less: Short-term investments 12,696 5,932 131
Market (fair) value of Tesla 606,330 549,282 949,793 866,193 164,311
Less: Invested capital2 65,244 49,621 40,247 39,217 25,479
MVA 541,086 499,661 909,546 826,976 138,832

Based on: 10-K (reporting date: 2023-12-31), 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).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Tesla Inc. market (fair) value less invested capital. Tesla Inc. MVA decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

MVA Spread Ratio

Tesla Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 541,086 499,661 909,546 826,976 138,832
Invested capital2 65,244 49,621 40,247 39,217 25,479
Performance Ratio
MVA spread ratio3 829.33% 1,006.95% 2,259.91% 2,108.72% 544.89%
Benchmarks
MVA Spread Ratio, Competitors4
Ford Motor Co. 7.92% 4.13% 17.80% 11.46% 0.85%
General Motors Co. -10.71% -7.65% 14.16% 25.91% 8.47%

Based on: 10-K (reporting date: 2023-12-31), 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).

1 MVA. See details »

2 Invested capital. See details »

3 2023 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 541,086 ÷ 65,244 = 829.33%

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. Tesla Inc. MVA spread ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

MVA Margin

Tesla Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Market value added (MVA)1 541,086 499,661 909,546 826,976 138,832
 
Revenues 96,773 81,462 53,823 31,536 24,578
Add: Increase (decrease) in deferred revenue 1,564 1,052 757 372 749
Adjusted revenues 98,337 82,514 54,580 31,908 25,327
Performance Ratio
MVA margin2 550.24% 605.55% 1,666.45% 2,591.75% 548.16%
Benchmarks
MVA Margin, Competitors3
Ford Motor Co. 8.29% 4.54% 22.52% 16.79% 1.03%
General Motors Co. -12.25% -9.11% 20.89% 36.55% 10.06%

Based on: 10-K (reporting date: 2023-12-31), 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).

1 MVA. See details »

2 2023 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 541,086 ÷ 98,337 = 550.24%

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. Tesla Inc. MVA margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.