Eva

$$(\text{ROIC}-\text{WACC})\times \text{Avg invested capital}$$

Economic Value Added (Economic Profit). Dollar amount of value creation above the cost of capital. Positive means the company earns more on its invested capital than the capital costs in absolute dollar terms; negative means destroying value. The McKinsey/BCG / Stern Stewart 'value creation' lens — predicts long-term TSR better than NOPAT or NI alone because it nets out the cost of the capital deployed.

Direction: Higher better Category: returns

Inputs (XBRL fallback chains):

• cash: CashAndCashEquivalentsAtCarryingValue -> CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents -> Cash
• equity: StockholdersEquity -> StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
• long_term_debt: LongTermDebt -> LongTermDebtNoncurrent
• short_term_debt: ShortTermBorrowings -> DebtCurrent -> LongTermDebtCurrent

Returns None when: Returns None when ROIC or WACC is None (e.g. missing prior-FY equity facts for ROIC, or missing cached beta for WACC). Dollar amount — for portfolio rollups use ROIC − WACC (ratio) instead. Reported in the same currency unit as the underlying XBRL facts (USD for US filers).

Source code

Implementation: eva in src/eqtytrk/metrics/ratios.py (or valuation.py for multiples).