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MVPs of MVA

Which companies created the most wealth for shareholders last year? Enter MVA -- or market value added.

2003 MVA Rankings
Tier 2: 25 largest market-cap companies with sales between $700 million and $7 billion
2002 1999 Company name MVA MV Capital EVA Sale Growth1 Performance2 Risk3
1 6 Amgen Inc 57,361 80,204 22,844 (103) 5,523 65% 76% 57%
2 25 Ebay Inc 25,489 29,094 3,606 (156) 1,214 440% 32% 90%
3 85 Forest Laboratories -Cl A 17,200 19,006 1,806 307 2,022 156% 99% NA
4 2 Qualcomm Inc 17,167 24,194 7,027 (721) 3,785 -3% 11% 54%
5 92 Slm Corp 15,425 16,820 1,395 589 3,436 5% 99% 8%
6 35 Cox Communications -Cl A 15,324 27,993 12,669 (489) 5,039 117% 51% 16%
7 14 Echostar Commun Corp -Cl A 15,076 19,107 4,031 (583) 4,821 201% 28% 91%
8 36 Fifth Third Bancorp 14,945 28,846 13,901 328 6,317 75% 85% 15%
9 45 Gannett Co 13,989 25,702 11,713 153 6,422 22% 58% 18%
10 61 Avon Products 12,867 16,165 3,298 363 6,228 18% 87% 30%
11 5 Applied Materials Inc 12,546 21,322 8,776 (1,328) 5,116 -15% 4% 52%
12 24 Amazon.Com Inc 11,891 14,079 2,188 (164) 4,169 117% 50% 89%
13 89 Stryker Corp 11,729 14,432 2,703 147 3,012 43% 89% 22%
14 15 Liberty Media Corp -Ser A 11,658 36,530 24,872 NA 2,084 106% NA NA
15 107 Boston Scientific Corp 11,599 19,638 8,039 (143) 2,919 3% 32% 46%
16 50 Harley-Davidson Inc 11,291 13,897 2,607 352 4,302 66% 97% 13%
17 20 Genentech Inc 11,095 19,037 7,942 (621) 2,618 97% 45% 46%
18 82 Wrigley (Wm) Jr Co 10,894 12,848 1,955 283 2,746 33% 95% NA
19 115 Bed Bath & Beyond Inc 10,746 13,496 2,749 93 3,495 103% 88% NA
22 88 Tribune Co 9,633 20,676 11,043 (388) 5,384 67% 26% 47%
23 1 Emc Corp/Ma 9,358 19,646 10,289 (1,652) 5,438 -19% 3% 47%
26 70 Southwest Airlines 8,650 16,546 7,896 (413) 5,580 14% 17% 40%
28 73 Mcgraw-Hill Companies 8,359 13,362 5,003 88 4,788 20% 63% 9%
30 41 Cablevision Sys Corp -Cl A 7,929 17,344 9,414 (706) 4,003 2% 32% 77%
31 22 Bank Of New York Co Inc 7,857 14,888 7,031 421 5,756 -5% 54% 3%
32 37 Guidant Corp 7,847 12,504 4,656 306 3,240 38% 93% 31%
36 142 Praxair Inc 6,836 13,611 6,775 123 5,128 11% 62% 23%
38 71 Pitney Bowes Inc 6,808 13,141 6,333 213 4,410 -1% 70% 19%
39 64 Campbell Soup Co 6,796 12,984 6,189 279 6,217 -6% 59% 19%
45 99 Danaher Corp 6,341 12,676 6,336 17 4,577 43% 60% 49%
54 83 Usa Interactive 5,537 15,364 9,827 1,247 4,621 43% 81% 20%
66 151 Air Products & Chemicals Inc 4,821 12,911 8,090 5 5,532 10% 45% 30%
71 302 Newmont Mining Corp 4,531 14,597 10,066 (185) 2,658 90% 49% 82%
74 165 Apache Corp 4,387 12,575 8,187 86 2,560 97% 86% 65%
78 130 Anadarko Petroleum Corp 4,156 17,686 13,529 20 3,860 451% 77% 78%
81 3 Yahoo Inc 3,906 14,463 10,557 (1,931) 953 62% 20% 74%
88 242 Ppl Corp 3,755 15,180 11,424 306 5,429 18% 74% 58%
110 163 BB&T Corp 2,966 14,775 11,808 157 6,127 58% 72% 10%
118 386 Sempra Energy 2,713 13,146 10,433 244 6,020 12% 63% 37%
133 131 Unocal Corp 2,470 12,689 10,219 (343) 5,224 -11% 18% 28%
185 516 Dte Energy Co 1,826 18,323 16,497 199 6,749 43% 69% 47%
225 223 Devon Energy Corp 1,425 15,227 13,802 (304) 4,316 488% 51% 84%
263 597 Norfolk Southern Corp 1,154 17,746 16,592 (343) 6,270 19% 37% 45%
431 418 Nisource Inc 509 13,687 13,178 79 6,094 94% 62% 66%
451 616 Burlington Resources Inc 448 13,915 13,468 (329) 2,964 44% 34% 50%
489 18 Computer Associates Intl Inc 359 13,477 13,118 (1,924) 3,087 -47% 3% 66%
923 945 Allied Waste Inds Inc (1,546) 13,176 14,722 (295) 5,517 65% 41% 66%
935 53 Williams Cos Inc (2,137) 21,149 23,286 (876) 5,608 -35% 10% 71%
941 75 Dynegy Inc (2,695) 13,779 16,474 (1,267) 5,553 -64% NA NA
949 865 Charter Communications Inc (5,715) 21,169 26,884 (2,429) 4,566 220% 27% 91%
Notes: All values — except for the performance and risk measures — are in millions. MVA rankings are based on all Tier-1 companies. Since some Tier-1 companies have low MVA rankings, numbers are not sequential. 1Three-year cumulative aggregate sales growth. 2Indicates the company’s ranking for operating performance relative to Russell 1,000 companies. The measure runs from 0 to 100. The higher the number, the stronger the company’s operating performance. 3Indicates the company’s ranking for risk relative to Russell 1,000 companies. The measure runs from 0 to 100. The lower the number, the less risky the company.

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