Stock Analysis on Net

HCA Healthcare Inc. (NYSE:HCA)

Market Value Added (MVA)

Microsoft Excel LibreOffice Calc

MVA

HCA Healthcare 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 long-term debt1 35,814  37,026  32,887  34,689  32,833 
Operating lease liability 2,052  1,849  1,708  1,725  1,567 
Market value of common equity 60,291  50,124  48,621  35,284  31,800 
Noncontrolling interests 2,320  2,243  2,032  1,811  1,669 
Market (fair) value of HCA 100,477  91,242  85,248  73,509  67,869 
Less: Invested capital2 34,570  33,534  29,729  27,635  25,484 
MVA 65,907  57,708  55,519  45,874  42,385 

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA HCA Healthcare Inc. market (fair) value less invested capital. HCA Healthcare Inc. MVA increased from 2018 to 2019 and from 2019 to 2020.

MVA Spread Ratio

HCA Healthcare 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 65,907  57,708  55,519  45,874  42,385 
Invested capital2 34,570  33,534  29,729  27,635  25,484 
Performance Ratio
MVA spread ratio3 190.65% 172.09% 186.75% 166.00% 166.32%
Benchmarks
MVA Spread Ratio, Competitors4
Abbott Laboratories 300.18% 202.12% 161.57% 105.00% 114.62%
Anthem Inc. 72.12% 79.88% 94.05% 65.09% 34.84%
Becton, Dickinson & Co. 85.86% 102.29% 83.54% 104.18% 116.97%
Bristol-Myers Squibb Co. 109.83% 90.05% 357.63% 562.86% 434.48%
CVS Health Corp. 20.97% 20.89% 5.23% 36.38% 45.15%
Danaher Corp. 172.62% 134.86% 100.14% 85.75% 69.39%
Edwards Lifesciences Corp. 1,285.62% 1,200.14% 1,170.58% 885.61% 635.57%
Intuitive Surgical Inc. 1,853.39% 1,771.30% 2,073.81% 2,462.94% 1,037.27%
Medtronic PLC 107.64% 113.36% 91.81% 84.10% 81.64%
Stryker Corp. 297.75% 303.17% 272.41% 259.64% 210.02%
UnitedHealth Group Inc. 286.87% 286.12% 273.30% 265.08% 189.76%

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

1 MVA. See details »

2 Invested capital. See details »

3 2020 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 65,907 ÷ 34,570 = 190.65%

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. HCA Healthcare Inc. MVA spread ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.

MVA Margin

HCA Healthcare 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 65,907  57,708  55,519  45,874  42,385 
Revenues 51,533  51,336  46,677  43,614  41,490 
Performance Ratio
MVA margin2 127.89% 112.41% 118.94% 105.18% 102.16%
Benchmarks
MVA Margin, Competitors3
Abbott Laboratories 523.78% 368.47% 311.69% 252.28% 250.26%
Anthem Inc. 33.92% 42.99% 53.80% 36.40% 18.66%
Becton, Dickinson & Co. 232.30% 267.31% 247.14% 298.56% 208.57%
Bristol-Myers Squibb Co. 232.86% 345.41% 300.74% 448.04% 396.64%
CVS Health Corp. 10.70% 11.44% 3.74% 16.60% 21.69%
Danaher Corp. 506.72% 437.77% 225.39% 199.13% 173.86%
Edwards Lifesciences Corp. 1,154.19% 1,020.56% 913.18% 736.20% 557.67%
Intuitive Surgical Inc. 1,900.28% 1,312.48% 1,410.70% 1,322.68% 790.83%
Medtronic PLC 264.99% 269.43% 217.26% 226.55% 220.71%
Stryker Corp. 562.92% 474.06% 415.93% 365.18% 317.37%
UnitedHealth Group Inc. 96.88% 91.49% 85.46% 82.97% 58.66%

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

1 MVA. See details »

2 2020 Calculation
MVA margin = 100 × MVA ÷ Revenues
= 100 × 65,907 ÷ 51,533 = 127.89%

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. HCA Healthcare Inc. MVA margin ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level.