Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Kimberly-Clark Corp. (NYSE:KMB)

Market Value Added (MVA)

Advanced level

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

Kimberly-Clark Corp., MVA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Fair value of debt1 8,652  7,687  7,945  8,056  8,371 
Operating lease liability 404  491  548  534  482 
Market value of common equity 49,472  39,045  39,170  43,797  45,625 
Preferred stock, no par value; none issued —  —  —  —  — 
Redeemable preferred securities of subsidiaries 29  64  61  58  64 
Noncontrolling interests 227  241  253  219  214 
Market (fair) value of Kimberly-Clark 58,784  47,528  47,977  52,664  54,756 
Less: Invested capital2 11,405  11,239  11,929  11,778  11,808 
MVA 47,379  36,289  36,048  40,886  42,948 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-11).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Kimberly-Clark Corp.’s market (fair) value less invested capital. Kimberly-Clark Corp.’s MVA increased from 2017 to 2018 and from 2018 to 2019.

MVA Spread Ratio

Kimberly-Clark Corp., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1 47,379  36,289  36,048  40,886  42,948 
Invested capital2 11,405  11,239  11,929  11,778  11,808 
Performance Ratio
MVA spread ratio3 415.42% 322.89% 302.19% 347.14% 363.72%
Benchmarks
MVA Spread Ratio, Competitors4
Colgate-Palmolive Co. 438.16% 449.81% 497.18% 528.15% 496.98%
Estée Lauder Cos. Inc. 574.67% 432.54% 388.91% 466.86% 450.03%
Nike Inc. 904.20% 751.49% 549.44% 635.80% 708.29%

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 Invested capital. See details »

3 2019 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 47,379 ÷ 11,405 = 415.42%

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. Kimberly-Clark Corp.’s MVA spread ratio improved from 2017 to 2018 and from 2018 to 2019.

MVA Margin

Kimberly-Clark Corp., MVA margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Market value added (MVA)1 47,379  36,289  36,048  40,886  42,948 
Net sales 18,450  18,486  18,259  18,202  18,591 
Performance Ratio
MVA margin2 256.79% 196.30% 197.43% 224.62% 231.01%
Benchmarks
MVA Margin, Competitors3
Colgate-Palmolive Co. 386.95% 341.21% 377.82% 406.39% 351.57%
Estée Lauder Cos. Inc. 445.74% 326.67% 293.03% 262.31% 250.56%
Nike Inc. 327.83% 314.21% 250.89% 262.06% 284.02%

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-08), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 2019 Calculation
MVA margin = 100 × MVA ÷ Net sales
= 100 × 47,379 ÷ 18,450 = 256.79%

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. Kimberly-Clark Corp.’s MVA margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.