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
General Mills Inc., MVA calculation
US$ in thousands
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | General Mills Inc. market (fair) value less invested capital. | General Mills Inc. MVA decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level. |
MVA Spread Ratio
General Mills Inc., MVA spread ratio calculation, comparison to benchmarks
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 20,220,519) | 15,973,961) | 23,965,369) | 34,482,631) | 25,775,368) | 23,900,474) | |
| Invested capital2 | 27,385,340) | 27,608,082) | 18,984,610) | 18,400,346) | 19,241,428) | 19,362,635) | |
| Performance Ratio | |||||||
| MVA spread ratio3 | 73.84% | 57.86% | 126.24% | 187.40% | 133.96% | 123.44% | |
| Benchmarks | |||||||
| MVA Spread Ratio, Competitors4 | |||||||
| Altria Group Inc. | 157.62% | — | — | — | — | — | |
| Coca-Cola Co. | 297.74% | — | — | — | — | — | |
| Mondelēz International Inc. | 76.66% | — | — | — | — | — | |
| PepsiCo Inc. | 302.36% | — | — | — | — | — | |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 MVA. See details »
2 Invested capital. See details »
3 2019 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 20,220,519 ÷ 27,385,340 = 73.84%
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. | General Mills Inc. MVA spread ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
MVA Margin
General Mills Inc., MVA margin calculation, comparison to benchmarks
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Market value added (MVA)1 | 20,220,519) | 15,973,961) | 23,965,369) | 34,482,631) | 25,775,368) | 23,900,474) | |
| Net sales | 16,865,200) | 15,740,400) | 15,619,800) | 16,563,100) | 17,630,300) | 17,909,600) | |
| Performance Ratio | |||||||
| MVA margin2 | 119.89% | 101.48% | 153.43% | 208.19% | 146.20% | 133.45% | |
| Benchmarks | |||||||
| MVA Margin, Competitors3 | |||||||
| Altria Group Inc. | 267.55% | — | — | — | — | — | |
| Coca-Cola Co. | 589.26% | — | — | — | — | — | |
| Mondelēz International Inc. | 174.63% | — | — | — | — | — | |
| PepsiCo Inc. | 267.35% | — | — | — | — | — | |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 MVA. See details »
2 2019 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 20,220,519 ÷ 16,865,200 = 119.89%
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. | General Mills Inc. MVA margin ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |