10
About following EVA/MVA examples
•The following examples (50 pages) from Finnish
companies are from
–Data
is from
Some explanations about the
graphs:
•With
EVA (graph above), the estimates are shown in light blue, historical facts with
dark blue
•With
Market value (graph below):
•Market value is shown as a sum of
Book value (dark
blue) and MVA (MVA is green if positive, red if negative)
•Mcap in estimate years: in estimate years book value is estimated but there is no
sense in ”estimating”
or ”guessing” future market value. Thus in estimate years (here 2003-2006) the market value is held constant i.e
the value of 2002
is used also with years 2003-2006
•If the company has not been listed in
the early years, then its
Mcap is 0 (this is quite rare situation within the examples)
Mcap in 2002
Mcap in 2001
Marimekko (MMO1V.HSE)
