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Microsoft Excel LibreOffice Calc

Merck & Co. Inc. (MRK)


Market Value Added (MVA)

Advanced level


MVA

Merck & Co. Inc., MVA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Fair value of loans payable and long-term debt, including current portion1
Operating lease liability
Market value of common equity
Noncontrolling interests
Less: Investments in debt and publicly traded equity securities
Market (fair) value of Merck
Less: Invested capital2
MVA

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-27).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Merck & Co. Inc.’s market (fair) value less invested capital. Merck & Co. Inc.’s MVA decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

MVA Spread Ratio

Merck & Co. Inc., MVA spread ratio calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Invested capital2
Performance Ratio
MVA spread ratio3

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-27).

1 MVA. See details »

2 Invested capital. See details »

3 2018 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × ÷ =

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. Merck & Co. Inc.’s MVA spread ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level.

MVA Margin

Merck & Co. Inc., MVA margin calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Market value added (MVA)1
Sales
Performance Ratio
MVA margin2

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-27).

1 MVA. See details »

2 2018 Calculation
MVA margin = 100 × MVA ÷ Sales
= 100 × ÷ =

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Merck & Co. Inc.’s MVA margin ratio deteriorated from 2016 to 2017 but then improved from 2017 to 2018 exceeding 2016 level.