Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

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Market Value Added (MVA)

Microsoft Excel LibreOffice Calc

MVA

International Business Machines Corp., 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 debt1
Operating lease liability
Market value of common equity
Noncontrolling interests
Less: Marketable securities
Market (fair) value of IBM
Less: Invested capital2
MVA

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA International Business Machines Corp.’s market (fair) value less invested capital. International Business Machines Corp.’s MVA decreased from 2018 to 2019 and from 2019 to 2020.

MVA Spread Ratio

International Business Machines Corp., 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
Accenture PLC
Adobe Inc.
Autodesk Inc.
Automatic Data Processing Inc.
Fidelity National Information Services Inc.
Fiserv Inc.
Intuit Inc.
Mastercard Inc.
Microsoft Corp.
Oracle Corp.
PayPal Holdings Inc.
salesforce.com inc.
ServiceNow Inc.
Visa Inc.

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28).

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. International Business Machines Corp.’s MVA spread ratio deteriorated from 2018 to 2019 and from 2019 to 2020.

MVA Margin

International Business Machines Corp., 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
 
Revenue
Add: Increase (decrease) in deferred income
Adjusted revenue
Performance Ratio
MVA margin2
Benchmarks
MVA Margin, Competitors3
Accenture PLC
Adobe Inc.
Autodesk Inc.
Automatic Data Processing Inc.
Fidelity National Information Services Inc.
Fiserv Inc.
Intuit Inc.
Mastercard Inc.
Microsoft Corp.
Oracle Corp.
PayPal Holdings Inc.
salesforce.com inc.
ServiceNow Inc.
Visa Inc.

Based on: 10-K (filing date: 2021-02-23), 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28).

1 MVA. See details »

2 2020 Calculation
MVA margin = 100 × MVA ÷ Adjusted 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. International Business Machines Corp.’s MVA margin ratio deteriorated from 2018 to 2019 and from 2019 to 2020.