Stock Analysis on Net
Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

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Market Value Added (MVA)

Microsoft Excel LibreOffice Calc

Market value added (MVA) is the difference between a firms’s 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

Caterpillar Inc., MVA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Fair value of borrowings1
Operating lease liability
Market value of common equity
Noncontrolling interests
Less: Investments in debt and equity securities
Market (fair) value of Caterpillar
Less: Invested capital2
MVA

Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Caterpillar Inc.’s market (fair) value less invested capital. Caterpillar Inc.’s MVA decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.

MVA Spread Ratio

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Invested capital2
Performance Ratio
MVA spread ratio3
Benchmarks
MVA Spread Ratio, Competitors4
3M Co.
Boeing Co.
General Electric Co.
Honeywell International Inc.
Illinois Tool Works Inc.
Lockheed Martin Corp.
Raytheon Technologies Corp.

Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15).

1 MVA. See details »

2 Invested capital. See details »

3 2020 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × ÷ =

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. Caterpillar Inc.’s MVA spread ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

MVA Margin

Caterpillar Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Sales of Machinery, Energy & Transportation
Performance Ratio
MVA margin2
Benchmarks
MVA Margin, Competitors3
3M Co.
Boeing Co.
General Electric Co.
Honeywell International Inc.
Illinois Tool Works Inc.
Lockheed Martin Corp.
Raytheon Technologies Corp.

Based on: 10-K (filing date: 2021-02-17), 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15).

1 MVA. See details »

2 2020 Calculation
MVA margin = 100 × MVA ÷ Sales of Machinery, Energy & Transportation
= 100 × ÷ =

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. Caterpillar Inc.’s MVA margin ratio improved from 2018 to 2019 and from 2019 to 2020.