CVS · Cvs Health Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · CVS

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$402.07B	$372.81B	$357.78B	$322.47B	$292.11B	$268.71B
Cost of Revenue	$221.17B	$206.29B	$217.10B	$196.89B	$175.80B	$163.98B
Gross Profit	$180.90B	$166.52B	$140.68B	$125.58B	$116.31B	$104.72B
R&D	-	-	-	-	-	-
SG&A	-	-	-	-	-	-
Total Operating Expenses	$397.41B	$364.29B	$344.03B	$314.72B	$278.92B	$254.79B
D&A	$4.61B	$4.60B	$4.37B	$4.25B	$4.51B	$4.44B
Operating Income	$4.66B	$8.52B	$13.74B	$7.75B	$13.19B	$13.91B
Interest Expense	$3.12B	$2.96B	$2.66B	$2.29B	$2.50B	$2.91B
Income Tax	$408.00M	$1.56B	$2.81B	$1.46B	$2.52B	$2.57B
Net Income	$1.77B	$4.61B	$8.34B	$4.15B	$7.91B	$7.18B
EPS - Basic	$1.40	$3.67	$6.49	$3.16	$6.00	$5.48
EPS - Diluted	$1.39	$3.66	$6.47	$3.14	$5.95	$5.46

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$8.45B	$8.59B	$8.20B	$12.95B	$9.41B	$7.85B
Accounts Receivable	$39.78B	$36.47B	$35.23B	$27.28B	$24.43B	$21.74B
Inventory	$19.25B	$18.11B	$18.02B	$19.09B	$17.76B	$18.50B
Accounts Payable	$17.64B	$15.89B	$14.90B	$14.84B	$12.54B	$11.14B
Current Assets	$74.71B	$68.64B	$67.86B	$65.68B	$60.01B	$56.37B
Total Assets	$253.54B	$253.22B	$249.73B	$228.28B	$233.00B	$230.72B
Current Liabilities	$88.69B	$84.61B	$79.19B	$69.74B	$67.81B	$62.02B
Long-term Debt	-	-	-	-	-	-
Total Liabilities	$178.16B	$177.49B	$173.09B	$156.96B	$157.62B	$161.01B
Stockholders' Equity	$75.21B	$75.56B	$76.46B	$71.02B	$75.08B	$69.39B
Retained Earnings	$61.20B	$62.84B	$61.60B	$56.15B	$54.91B	$49.64B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$10.64B	$9.11B	$13.43B	$16.18B	$18.27B	$15.87B
Investing Cash Flow	($5.87B)	($7.61B)	($20.89B)	($5.05B)	($5.26B)	($5.53B)
Financing Cash Flow	($4.94B)	($1.14B)	$2.68B	($10.52B)	($11.36B)	($8.15B)
CapEx	$2.83B	$2.78B	$3.03B	$2.73B	$2.52B	$2.44B
Free Cash Flow	$7.81B	$6.33B	$10.39B	$13.45B	$15.74B	$13.43B

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	45.0%	44.7%	39.3%	38.9%	39.8%	39.0%
Operating margin	1.2%	2.3%	3.8%	2.4%	4.5%	5.2%
EBITDA margin	2.3%	3.5%	5.1%	3.7%	6.1%	6.8%
Net margin	0.4%	1.2%	2.3%	1.3%	2.7%	2.7%
Free cash flow margin	1.9%	1.7%	2.9%	4.2%	5.4%	5.0%
FCF / Net income	4.42	1.37	1.25	3.24	1.99	1.87
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	-	-	-	-	-	-
Effective tax rate	18.8%	25.3%	25.2%	26.1%	24.2%	26.4%
Return on assets	0.7%	1.8%	3.3%	1.8%	3.4%	3.1%
Return on equity	2.4%	6.1%	10.9%	5.8%	10.5%	10.3%
Return on invested capital	-	-	-	-	-	-
Liquidity
Current ratio	0.84	0.81	0.86	0.94	0.88	0.91
Quick ratio	0.63	0.60	0.63	0.67	0.62	0.61
Cash ratio	0.10	0.10	0.10	0.19	0.14	0.13
Leverage
Debt / Equity	-	-	-	-	-	-
Debt / Assets	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-
Interest coverage	1.5x	2.9x	5.2x	3.4x	5.3x	4.8x
Equity multiplier	3.37	3.35	3.27	3.21	3.10	3.32
Liabilities / Assets	0.70	0.70	0.69	0.69	0.68	0.70
Efficiency
Asset turnover	1.59	1.47	1.43	1.41	1.25	1.16
Inventory turnover	11.49	11.39	12.04	10.31	9.90	8.87
Days sales outstanding	36d	36d	36d	31d	31d	30d
Days inventory outstanding	32d	32d	30d	35d	37d	41d
Days payable outstanding	29d	28d	25d	28d	26d	25d
Cash conversion cycle	39d	40d	41d	39d	41d	46d
Valuation
P / E	57.1x	12.3x	12.2x	29.7x	17.3x	12.5x
P / B	1.3x	0.7x	1.3x	1.7x	1.8x	1.3x
P / S	0.3x	0.2x	0.3x	0.4x	0.5x	0.3x
EV / EBITDA	10.0x	3.7x	5.2x	9.2x	7.2x	4.5x
Growth
Revenue growth (YoY)	7.8%	4.2%	10.9%	10.4%	8.7%	4.6%
Revenue CAGR (3y)	7.6%	8.5%	10.0%	7.9%	14.5%	13.3%
Revenue CAGR (5y)	8.4%	7.7%	13.0%	11.8%	10.5%	11.9%
Gross profit growth (YoY)	8.6%	18.4%	12.0%	8.0%	11.1%	6.8%
Operating income growth (YoY)	-45.3%	-38.0%	77.4%	-41.3%	-5.2%	16.1%
Net income growth (YoY)	-61.7%	-44.7%	101.1%	-47.5%	10.2%	8.2%
EPS growth (YoY)	-62.0%	-43.4%	106.1%	-47.2%	9.0%	7.5%
EPS CAGR (3y)	-23.8%	-15.0%	5.8%	-14.8%	-	-5.4%
EPS CAGR (5y)	-23.9%	-6.3%	-	-13.4%	4.0%	3.4%
FCF growth (YoY)	23.4%	-39.1%	-22.7%	-14.6%	17.3%	29.2%
FCF CAGR (5y)	-10.3%	-9.4%	8.8%	17.2%	15.0%	17.3%
Book value growth (YoY)	-0.5%	-1.2%	7.7%	-5.4%	8.2%	8.7%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$473.63B total

Health Services Segment$190.43B · 40.2%

Health Care Benefits Segment$143.35B · 30.3%

Pharmacy And Consumer Health Segment$139.37B · 29.4%

Corporate And Other Segment$484.00M · 0.1%

Product / service

$265.08B total

Product$249.91B · 94.3%

Service$15.18B · 5.7%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

1.98

Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

7/9

Strong

✓Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✓Current ratio improved
✓No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Retail-Drug Stores and Proprietary Stores

Company	Revenue (last FY)	Net margin	ROE
WBA	-	-	-
GRDN	$1.23B	-9.0%	-50.5%
PETS	$274.10M	-2.3%	-7.4%
MDVL	$43.11M	-110.5%	-228.7%
CVET	$4.58B	-1.2%	-3.6%

Comparing CVS HEALTH Corp against the 5 most active filers in the same SIC group.

Dividends

$2.66/share trailing 12 months · 0.0% YoY

Ex-date	Per share
Apr 23, 2026	$0.6650
Jan 22, 2026	$0.6650
Oct 23, 2025	$0.6650
Jul 22, 2025	$0.6650
Apr 22, 2025	$0.6650
Jan 23, 2025	$0.6650
Oct 21, 2024	$0.6650
Jul 22, 2024	$0.6650
Apr 19, 2024	$0.6650
Jan 19, 2024	$0.6650
Oct 19, 2023	$0.6050
Jul 20, 2023	$0.6050
Apr 20, 2023	$0.6050
Jan 19, 2023	$0.6050
Oct 20, 2022	$0.5500
Jul 21, 2022	$0.5500
Apr 21, 2022	$0.5500
Jan 20, 2022	$0.5500
Oct 21, 2021	$0.5000
Jul 22, 2021	$0.5000
Apr 22, 2021	$0.5000
Jan 21, 2021	$0.5000
Oct 21, 2020	$0.5000
Jul 22, 2020	$0.5000