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.
MVA
Becton, Dickinson & Co., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2021-09-30), 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).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | Becton, Dickinson & Co. market (fair) value less invested capital. | Becton, Dickinson & Co. MVA decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level. |
MVA Spread Ratio
Becton, Dickinson & Co., MVA spread ratio calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | 43,654) | 39,762) | 46,218) | 39,501) | 36,105) | 26,036) | |
| Invested capital2 | 45,278) | 46,312) | 45,181) | 47,282) | 34,655) | 22,258) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 96.41% | 85.86% | 102.29% | 83.54% | 104.18% | 116.97% | |
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Abbott Laboratories | 266.78% | 300.18% | 202.12% | — | — | — | |
| Cigna Group | 21.75% | 20.67% | 16.09% | — | — | — | |
| CVS Health Corp. | 49.51% | 20.97% | 20.89% | — | — | — | |
| Elevance Health Inc. | 115.84% | 72.12% | 79.88% | — | — | — | |
| Humana Inc. | 122.92% | 163.20% | 196.12% | — | — | — | |
| Intuitive Surgical Inc. | 2,002.36% | 1,853.43% | 1,771.30% | — | — | — | |
| Medtronic PLC | 163.10% | 107.64% | 113.36% | 91.81% | — | — | |
| Shockwave Medical Inc. | 3,455.61% | 4,218.08% | 459.40% | — | — | — | |
| UnitedHealth Group Inc. | 265.59% | 189.93% | 187.47% | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 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).
1 MVA. See details »
2 Invested capital. See details »
3 2021 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 43,654 ÷ 45,278 = 96.41%
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. | Becton, Dickinson & Co. MVA spread ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
MVA Margin
Becton, Dickinson & Co., MVA margin calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | 43,654) | 39,762) | 46,218) | 39,501) | 36,105) | 26,036) | |
| Revenues | 20,248) | 17,117) | 17,290) | 15,983) | 12,093) | 12,483) | |
| Performance Ratio | |||||||
| MVA margin2 | 215.60% | 232.30% | 267.31% | 247.14% | 298.56% | 208.57% | |
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Abbott Laboratories | 384.46% | 523.78% | 368.47% | — | — | — | |
| Cigna Group | 11.43% | 12.17% | 9.91% | — | — | — | |
| CVS Health Corp. | 22.27% | 10.70% | 11.44% | — | — | — | |
| Elevance Health Inc. | 54.14% | 33.92% | 42.99% | — | — | — | |
| Humana Inc. | 45.49% | 46.87% | 57.53% | — | — | — | |
| Intuitive Surgical Inc. | 1,575.51% | 1,900.32% | 1,312.48% | — | — | — | |
| Medtronic PLC | 391.27% | 264.99% | 269.43% | 217.26% | — | — | |
| Shockwave Medical Inc. | 2,539.18% | 5,679.41% | 1,698.10% | — | — | — | |
| UnitedHealth Group Inc. | 130.39% | 96.88% | 91.49% | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 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).
1 MVA. See details »
2 2021 Calculation
MVA margin = 100 × MVA ÷ Revenues
= 100 × 43,654 ÷ 20,248 = 215.60%
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. | Becton, Dickinson & Co. MVA margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |