In this work there carries out an analysis of the Economic Value Added EVA and Value Added of Market MVA for the companies of the petroleum sector that quote in the Bolsa de Valores of Colombia between the year 2008 and 2011; describing the uses and applications of the financial indicators EVA and MVA. This analysis I realize across the financial information obtained of the General Balance sheet and States of Results published by the companies in the periods of time established for the analysis. The capital cost decided by means of the methodology WACC (Weighted Average Cost of Capital), determining the cost of the heritage by means of the method CAPM (Capital Asset Pricing Model), for the calculation of EVA and the difference of the stock exchange capitalization and the current value in books for the calculation of the MVA. These indicators were used and compared to show the relation and difference between both, which allows to evaluate the behavior of the market with regard to that of the company and of this form to contribute in the capture of decisions of the executives and / or shareholders.