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
IQVIA Holdings Inc., MVA calculation
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Fair value of debt. See details »
2 Invested capital. See details »
| Item | Description | The company |
|---|---|---|
| MVA | IQVIA Holdings Inc. market (fair) value less invested capital. | IQVIA Holdings Inc. MVA increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
MVA Spread Ratio
IQVIA Holdings Inc., MVA spread ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 33,002) | 35,735) | 29,296) | 24,159) | 19,140) | |
| Invested capital2 | 21,926) | 21,241) | 21,108) | 20,313) | 20,458) | |
| Performance Ratio | ||||||
| MVA spread ratio3 | 150.51% | 168.24% | 138.79% | 118.93% | 93.56% | |
| Benchmarks | ||||||
| MVA Spread Ratio, Competitors4 | ||||||
| AbbVie Inc. | 297.39% | 253.64% | 172.70% | 236.51% | — | |
| Amgen Inc. | 308.27% | 303.88% | 343.98% | 341.92% | — | |
| Bristol-Myers Squibb Co. | 160.91% | 138.81% | 109.83% | 90.05% | — | |
| Danaher Corp. | 156.95% | 187.44% | 172.97% | 135.15% | — | |
| Eli Lilly & Co. | 1,239.79% | 833.40% | 778.02% | 601.09% | — | |
| Gilead Sciences Inc. | 175.26% | 119.58% | 125.56% | 226.14% | — | |
| Johnson & Johnson | 288.03% | 366.17% | 363.07% | 335.85% | — | |
| Merck & Co. Inc. | 312.72% | 223.02% | 292.93% | 328.56% | — | |
| Pfizer Inc. | 124.43% | 210.66% | 116.68% | 95.96% | — | |
| Regeneron Pharmaceuticals Inc. | 521.52% | 461.61% | 508.24% | 460.29% | — | |
| Thermo Fisher Scientific Inc. | 195.28% | 211.22% | 232.26% | 171.11% | — | |
| Zoetis Inc. | 585.64% | 769.56% | 653.45% | 667.66% | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 Invested capital. See details »
3 2022 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 33,002 ÷ 21,926 = 150.51%
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. | IQVIA Holdings Inc. MVA spread ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
MVA Margin
IQVIA Holdings Inc., MVA margin calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Market value added (MVA)1 | 33,002) | 35,735) | 29,296) | 24,159) | 19,140) | |
| Revenues | 14,410) | 13,874) | 11,359) | 11,088) | 10,412) | |
| Add: Increase (decrease) in unearned income | (28) | 573) | 238) | 7) | 22) | |
| Adjusted revenues | 14,382) | 14,447) | 11,597) | 11,095) | 10,434) | |
| Performance Ratio | ||||||
| MVA margin2 | 229.46% | 247.35% | 252.62% | 217.74% | 183.44% | |
| Benchmarks | ||||||
| MVA Margin, Competitors3 | ||||||
| AbbVie Inc. | 420.74% | 432.93% | 391.08% | 446.12% | — | |
| Amgen Inc. | 493.74% | 503.37% | 550.26% | 575.79% | — | |
| Bristol-Myers Squibb Co. | 250.01% | 240.26% | 232.86% | 345.41% | — | |
| Danaher Corp. | 389.99% | 468.46% | 507.10% | 438.18% | — | |
| Eli Lilly & Co. | 1,055.66% | 769.29% | 778.57% | 578.77% | — | |
| Gilead Sciences Inc. | 295.97% | 211.56% | 259.24% | 321.38% | — | |
| Johnson & Johnson | 345.62% | 383.46% | 432.99% | 396.88% | — | |
| Merck & Co. Inc. | 390.05% | 323.90% | 349.01% | 376.50% | — | |
| Pfizer Inc. | 137.35% | 227.20% | 289.28% | 224.34% | — | |
| Regeneron Pharmaceuticals Inc. | 525.04% | 312.14% | 495.20% | 382.11% | — | |
| Thermo Fisher Scientific Inc. | 360.17% | 431.35% | 441.03% | 352.63% | — | |
| Zoetis Inc. | 909.05% | 1,149.19% | 1,131.37% | 1,049.26% | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 MVA. See details »
2 2022 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 33,002 ÷ 14,382 = 229.46%
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. | IQVIA Holdings Inc. MVA margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |