Current Operations Value measures the portion of market value attributed to the existing level of profitability and assets at the firm. It equals the present value of current EVA^® in perpetuity, plus Capital in place. Alternatively, it can be calculated as NOPAT divided by the WACC. The market value split between COV^® and FGV^® is often homogenous within sectors. For example, the COV^® portion of Market Value tends to be very high in mature markets such as food processing and tobacco, and relatively low in growth markets such as technology.