Stock Analysis on Net
Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

This company has been moved to the archive! The financial data has not been updated since August 9, 2021.

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

Air Products & Chemicals Inc., MVA calculation

US$ in thousands

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Fair value of debt1 8,286,100 3,409,100 3,842,500 4,072,200 6,403,000 6,140,000
Operating lease liability 406,500 264,039 211,716 172,795 194,476 334,361
Market value of common equity 59,756,749 51,669,712 34,589,703 35,236,905 30,375,996 30,045,544
Noncontrolling interests 363,300 334,700 318,800 99,300 133,800 132,100
Less: Short-term investments 1,104,900 166,000 184,700 404,000 — —
Market (fair) value of Air Products 67,707,749 55,511,551 38,778,020 39,177,200 37,107,272 36,652,004
Less: Invested capital2 20,884,500 16,921,739 16,696,916 15,661,095 15,185,876 14,344,261
MVA 46,823,249 38,589,812 22,081,103 23,516,105 21,921,396 22,307,744

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Air Products & Chemicals Inc. market (fair) value less invested capital. Air Products & Chemicals Inc. MVA increased from 2018 to 2019 and from 2019 to 2020.

MVA Spread Ratio

Air Products & Chemicals Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 46,823,249 38,589,812 22,081,103 23,516,105 21,921,396 22,307,744
Invested capital2 20,884,500 16,921,739 16,696,916 15,661,095 15,185,876 14,344,261
Performance Ratio
MVA spread ratio3 224.20% 228.05% 132.25% 150.16% 144.35% 155.52%
Benchmarks
MVA Spread Ratio, Competitors4
Linde plc 92.56% 56.94% — — — —

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

1 MVA. See details »

2 Invested capital. See details »

3 2020 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 46,823,249 ÷ 20,884,500 = 224.20%

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. Air Products & Chemicals Inc. MVA spread ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

MVA Margin

Air Products & Chemicals Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 46,823,249 38,589,812 22,081,103 23,516,105 21,921,396 22,307,744
Sales 8,856,300 8,918,900 8,930,200 8,187,600 9,524,400 9,894,900
Performance Ratio
MVA margin2 528.70% 432.67% 247.26% 287.22% 230.16% 225.45%
Benchmarks
MVA Margin, Competitors3
Linde plc 267.64% 158.41% — — — —

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

1 MVA. See details »

2 2020 Calculation
MVA margin = 100 × MVA ÷ Sales
= 100 × 46,823,249 ÷ 8,856,300 = 528.70%

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. Air Products & Chemicals Inc. MVA margin ratio improved from 2018 to 2019 and from 2019 to 2020.