Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

AbbVie Inc. (NYSE:ABBV)

Market Value Added (MVA)

Advanced level

MVA

AbbVie Inc., MVA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Fair value of debt and finance lease obligations, excluding fair value hedges1 70,411  39,362  39,280  37,066  31,565 
Operating lease liability 360  685  817  831  857 
Market value of common equity 140,461  117,136  188,334  98,456  87,474 
Less: Available-for-sale investment securities 27  2,108  2,528  3,064  119 
Market (fair) value of AbbVie 211,205  155,076  225,902  133,290  119,777 
Less: Invested capital2 62,795  33,452  45,243  48,245  43,841 
MVA 148,410  121,623  180,660  85,044  75,936 

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA AbbVie Inc.’s market (fair) value less invested capital. AbbVie Inc.’s MVA decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

MVA Spread Ratio

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

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1 148,410  121,623  180,660  85,044  75,936 
Invested capital2 62,795  33,452  45,243  48,245  43,841 
Performance Ratio
MVA spread ratio3 236.34% 363.57% 399.31% 176.28% 173.21%
Benchmarks
MVA Spread Ratio, Competitors4
Abbott Laboratories 203.80% 163.05% 105.68% 115.20% 103.19%
Amgen Inc. 341.92% 418.34% 430.42% 289.63% 235.60%
Biogen Inc. 341.43% 414.66% 501.05% 357.29% 453.23%
Bristol-Myers Squibb Co. 90.05% 357.63% 562.86% 434.48% 604.37%
Eli Lilly & Co. 601.09% 443.71% 317.93% 313.14% 284.18%
Gilead Sciences Inc. 218.86% 173.55% 353.60% 375.87% 385.39%
Illumina Inc. 789.11% 998.68% 841.95% 777.45% 794.02%
Johnson & Johnson 335.85% 288.60% 261.52% 301.73% 285.18%
Merck & Co. Inc. 328.56% 362.76% 219.59% 251.63% 139.01%
Pfizer Inc. 95.96% 163.95% 129.91% 85.80% 81.93%
Regeneron Pharmaceuticals Inc. 463.34% 580.61% 593.24% 958.29% 1,166.32%
Vertex Pharmaceuticals Inc. 1,179.74% 1,150.65% 1,235.48% 674.42% 764.06%
Zoetis Inc. 667.66% 408.21% 480.52% 354.22% 273.14%

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19).

1 MVA. See details »

2 Invested capital. See details »

3 2019 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 148,410 ÷ 62,795 = 236.34%

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. AbbVie Inc.’s MVA spread ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

MVA Margin

AbbVie Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1 148,410  121,623  180,660  85,044  75,936 
Net revenues 33,266  32,753  28,216  25,638  22,859 
Performance Ratio
MVA margin2 446.13% 371.34% 640.27% 331.71% 332.19%
Benchmarks
MVA Margin, Competitors3
Abbott Laboratories 368.47% 311.69% 252.28% 250.26% 153.78%
Amgen Inc. 575.79% 468.33% 476.30% 427.69% 392.30%
Biogen Inc. 335.84% 405.96% 509.35% 402.61% 467.80%
Bristol-Myers Squibb Co. 345.41% 300.74% 448.04% 396.64% 527.50%
Eli Lilly & Co. 578.77% 464.62% 310.56% 336.26% 316.65%
Gilead Sciences Inc. 318.14% 285.14% 338.78% 251.48% 329.29%
Illumina Inc. 1,112.96% 1,195.33% 1,100.24% 931.69% 981.01%
Johnson & Johnson 396.88% 357.88% 364.69% 353.81% 303.53%
Merck & Co. Inc. 376.50% 420.85% 272.23% 334.87% 221.21%
Pfizer Inc. 224.34% 310.56% 254.28% 199.73% 178.61%
Regeneron Pharmaceuticals Inc. 382.11% 537.12% 496.04% 662.31% 743.95%
Vertex Pharmaceuticals Inc. 1,377.91% 1,457.72% 1,559.71% 1,176.70% 1,936.02%
Zoetis Inc. 1,049.26% 654.82% 679.17% 489.40% 399.11%

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19).

1 MVA. See details »

2 2019 Calculation
MVA margin = 100 × MVA ÷ Net revenues
= 100 × 148,410 ÷ 33,266 = 446.13%

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. AbbVie Inc.’s MVA margin ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.