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Market Value Added (MVA)
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
FedEx Corp., MVA calculation
US$ in millions
Based on: 10-K (filing date: 2021-07-19), 10-K (filing date: 2020-07-20), 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | FedEx Corp.’s market (fair) value less invested capital. | FedEx Corp.’s MVA decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
MVA Spread Ratio
FedEx Corp., MVA spread ratio calculation, comparison to benchmarks
| May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 | May 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 | |||||||
| CSX Corp. | |||||||
| Norfolk Southern Corp. | |||||||
| Union Pacific Corp. | |||||||
| United Parcel Service Inc. | |||||||
Based on: 10-K (filing date: 2021-07-19), 10-K (filing date: 2020-07-20), 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18).
1 MVA. See details »
2 Invested capital. See details »
3 2021 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. | FedEx Corp.’s MVA spread ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
MVA Margin
FedEx Corp., MVA margin calculation, comparison to benchmarks
| May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 | May 31, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Market value added (MVA)1 | |||||||
| Revenue | |||||||
| Performance Ratio | |||||||
| MVA margin2 | |||||||
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| CSX Corp. | |||||||
| Norfolk Southern Corp. | |||||||
| Union Pacific Corp. | |||||||
| United Parcel Service Inc. | |||||||
Based on: 10-K (filing date: 2021-07-19), 10-K (filing date: 2020-07-20), 10-K (filing date: 2019-07-16), 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18).
1 MVA. See details »
2 2021 Calculation
MVA margin = 100 × MVA ÷ Revenue
= 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. | FedEx Corp.’s MVA margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |