8-K Announcements
6Mar 19, 2026·SEC
Feb 10, 2026·SEC
Dec 9, 2025·SEC
CVS Health Corporation (CVS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
CVS Health Corporation (CVS) stock price & volume — 10-year historical chart
CVS Health Corporation (CVS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
CVS Health Corporation (CVS) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 10, 2026 | $1.09vs $1.00+9.0% | $105.7Bvs $103.7B+1.9% |
| Q4 2025 | Oct 29, 2025 | $1.60vs $1.37+16.8% | $102.9Bvs $98.8B+4.1% |
| Q3 2025 | Jul 31, 2025 | $1.81vs $1.46+24.0% | $98.9Bvs $94.5B+4.6% |
| Q2 2025 | May 1, 2025 | $2.25vs $1.70+32.4% | $94.6Bvs $93.7B+1.0% |
CVS Health Corporation (CVS) competitors in Vertically Integrated Payer-PBM Platforms — business model, growth, and fundamentals comparison
CVS Health Corporation (CVS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CVS Health Corporation (CVS) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 184.79B | 194.58B | 256.78B | 268.71B | 292.11B | 322.47B | 357.78B | 372.81B | 402.07B |
| Revenue Growth % | 4.08% | 5.3% | 31.96% | 4.65% | 8.71% | 10.39% | 10.95% | 4.2% | 7.85% |
| Medical Costs & Claims | 156.26B | 163.04B | 211.25B | 219.66B | 239.99B | 267.96B | 303.35B | 321.41B | 346.7B |
| Medical Cost Ratio % | 84.56% | 83.79% | 82.27% | 81.75% | 82.16% | 83.1% | 84.79% | 86.21% | 86.23% |
| Gross Profit | 28.53B▲ 0% | 31.54B▲ 10.6% | 45.53B▲ 44.4% | 49.05B▲ 7.7% | 52.12B▲ 6.3% | 54.5B▲ 4.6% | 54.43B▼ 0.1% | 51.4B▼ 5.6% | 55.36B▲ 7.7% |
| Gross Margin % | 15.44% | 16.21% | 17.73% | 18.25% | 17.84% | 16.9% | 15.21% | 13.79% | 13.77% |
| Gross Profit Growth % | -1.06% | 10.55% | 44.36% | 7.73% | 6.27% | 4.57% | -0.13% | -5.57% | 7.71% |
| Operating Expenses | 18.99B | 27.52B | 33.54B | 35.13B | 38.81B | 46.55B | 40.69B | 42.88B | 44.98B |
| OpEx / Revenue % | 10.28% | 14.14% | 13.06% | 13.08% | 13.29% | 14.43% | 11.37% | 11.5% | 11.19% |
| Depreciation & Amortization | 2.48B | 2.72B | 4.37B | 4.44B | 4.49B | 4.22B | 4.37B | 4.6B | 4.61B |
| Combined Ratio % | 94.84% | 97.93% | 95.33% | 94.82% | 95.44% | 97.53% | 96.16% | 97.72% | 97.42% |
| Operating Income | 9.54B▲ 0% | 4.02B▼ 57.8% | 11.99B▲ 198.1% | 13.91B▲ 16.1% | 13.31B▼ 4.3% | 7.95B▼ 40.2% | 13.74B▲ 72.8% | 8.52B▼ 38.0% | 10.38B▲ 21.9% |
| Operating Margin % | 5.16% | 2.07% | 4.67% | 5.18% | 4.56% | 2.47% | 3.84% | 2.28% | 2.58% |
| Operating Income Growth % | -8.16% | -57.84% | 198.11% | 16.05% | -4.32% | -40.24% | 72.78% | -38.03% | 21.95% |
| EBITDA | 12.02B | 6.74B | 16.36B | 18.35B | 17.8B | 12.18B | 18.11B | 13.11B | 14.99B |
| EBITDA Margin % | 6.5% | 3.46% | 6.37% | 6.83% | 6.09% | 3.78% | 5.06% | 3.52% | 3.73% |
| Interest Expense | 1.06B | 2.62B | 3.04B | 2.91B | 2.5B | 2.29B | 2.66B | 2.96B | 3.12B |
| Non-Operating Income | 208M | -4M | -45M | 1.23B | 270M | -169M | -88M | -590M | 5.13B |
| Pretax Income | 8.27B▲ 0% | 1.41B▼ 83.0% | 9B▲ 539.9% | 9.77B▲ 8.6% | 10.54B▲ 7.9% | 5.84B▼ 44.6% | 11.17B▲ 91.4% | 6.15B▼ 45.0% | 2.14B▼ 65.3% |
| Pretax Margin % | 4.47% | 0.72% | 3.5% | 3.64% | 3.61% | 1.81% | 3.12% | 1.65% | 0.53% |
| Income Tax | 1.64B | 2B | 2.37B | 2.57B | 2.55B | 1.51B | 2.81B | 1.56B | 408M |
| Effective Tax Rate % | 19.8% | 142.39% | 26.3% | 26.29% | 24.18% | 25.86% | 25.11% | 25.41% | 19.1% |
| Net Income | 6.62B▲ 0% | -594M▼ 109.0% | 6.63B▲ 1216.8% | 7.18B▲ 8.2% | 8B▲ 11.5% | 4.31B▼ 46.1% | 8.34B▲ 93.6% | 4.61B▼ 44.7% | 1.77B▼ 61.7% |
| Net Margin % | 3.58% | -0.31% | 2.58% | 2.67% | 2.74% | 1.34% | 2.33% | 1.24% | 0.44% |
| Net Income Growth % | 24.54% | -108.97% | 1216.84% | 8.22% | 11.45% | -46.12% | 93.55% | -44.7% | -61.68% |
| EPS (Diluted) | 6.44▲ 0% | -0.57▼ 108.9% | 5.08▲ 991.2% | 5.46▲ 7.5% | 5.95▲ 9.0% | 3.26▼ 45.2% | 6.47▲ 98.5% | 3.66▼ 43.4% | 1.39▼ 62.0% |
| EPS Growth % | 31.43% | -108.85% | 991.23% | 7.48% | 8.97% | -45.21% | 98.47% | -43.43% | -62.02% |
| EPS (Basic) | 6.47 | -0.57 | 5.10 | 5.48 | 6.00 | 3.29 | 6.49 | 3.66 | 1.40 |
| Diluted Shares Outstanding | 1.02B | 1.04B | 1.3B | 1.31B | 1.33B | 1.32B | 1.29B | 1.26B | 1.27B |
CVS Health Corporation (CVS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 95.13B | 196.46B | 222.45B | 230.72B | 233B | 228.28B | 249.73B | 253.22B | 261.06B |
| Asset Growth % | 0.71% | 106.51% | 13.23% | 3.72% | 0.99% | -2.03% | 9.4% | 1.4% | 3.1% |
| Total Investment Assets | 223M | 18.25B | 19.69B | 23.81B | 26.14B | 23.87B | 26.28B | 31.34B | 35.01B |
| Long-Term Investments | 112M | 15.73B | 17.31B | 20.81B | 23.02B | 21.1B | 23.02B | 28.93B | 32.87B |
| Short-Term Investments | 111M | 2.52B | 2.37B | 3B | 3.12B | 2.78B | 3.26B | 2.41B | 2.15B |
| Total Current Assets | 31.23B | 45.24B | 50.3B | 56.37B | 60.01B | 65.63B | 67.86B | 68.64B | 74.71B |
| Cash & Equivalents | 1.7B | 4.06B | 5.68B | 7.85B | 9.41B | 12.95B | 8.2B | 8.59B | 8.51B |
| Receivables | 13.18B | 17.63B | 19.62B | 21.74B | 24.43B | 27.28B | 35.23B | 36.47B | 39.78B |
| Other Current Assets | 945M | 4.58B | 5.11B | 5.28B | 5.29B | 3.54B | 3.15B | 3.08B | 5.03B |
| Goodwill & Intangibles | 52.08B | 115.2B | 112.87B | 110.69B | 108.15B | 102.95B | 120.51B | 118.59B | 110.99B |
| Goodwill | 38.45B | 78.68B | 79.75B | 79.55B | 79.12B | 78.15B | 91.27B | 91.27B | 85.48B |
| Intangible Assets | 13.63B | 36.52B | 33.12B | 31.14B | 29.03B | 24.8B | 29.23B | 27.32B | 25.51B |
| PP&E (Net) | 10.29B | 11.35B | 32.9B | 33.34B | 32.02B | 30.75B | 30.43B | 28.94B | 28.06B |
| Other Assets | 1.42B | 8.93B | 9.06B | 9.51B | 9.8B | 7.85B | 7.91B | 8.1B | 6.91B |
| Total Liabilities | 57.44B | 137.91B | 158.28B | 161.01B | 157.62B | 156.51B | 173.09B | 177.49B | 185.68B |
| Total Debt | 27B | 73.43B | 89B | 85.04B | 76B | 70.73B | 79.39B | 82.92B | 93.59B |
| Net Debt | 25.31B | 69.37B | 83.32B | 77.19B | 66.59B | 57.79B | 71.19B | 74.33B | 85.08B |
| Long-Term Debt | 22.18B | 71.44B | 64.7B | 59.21B | 51.97B | 50.48B | 58.64B | 60.53B | 72.88B |
| Short-Term Debt | 4.82B | 1.99B | 3.78B | 5.44B | 4.21B | 1.78B | 2.97B | 5.74B | 5.8B |
| Total Current Liabilities | 30.65B | 44.01B | 53.3B | 62.02B | 67.81B | 69.42B | 79.19B | 84.61B | 88.69B |
| Accounts Payable | 8.86B | 8.93B | 10.49B | 11.14B | 12.54B | 14.84B | 14.9B | 15.89B | 59.38B |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62M |
| Other Current Liabilities | 23M | 4.88B | 4.82B | 5.83B | 5.6B | 2.82B | 2.47B | 1.18B | 23.42B |
| Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 1.61B | 14.78B | 14.06B | 14.24B | 13.39B | 15.79B | 14.92B | 13.64B | -2.16B |
| Total Equity | 37.7B▲ 0% | 58.54B▲ 55.3% | 64.17B▲ 9.6% | 69.7B▲ 8.6% | 75.38B▲ 8.1% | 71.77B▼ 4.8% | 76.64B▲ 6.8% | 75.73B▼ 1.2% | 75.38B▼ 0.5% |
| Equity Growth % | 2.34% | 55.31% | 9.61% | 8.62% | 8.15% | -4.79% | 6.78% | -1.18% | -0.46% |
| Shareholders Equity | 37.69B | 58.23B | 63.86B | 69.39B | 75.08B | 71.47B | 76.46B | 75.56B | 75.21B |
| Minority Interest | 4M | 318M | 306M | 312M | 306M | 300M | 175M | 170M | 168M |
| Retained Earnings | 43.56B | 40.91B | 45.11B | 49.64B | 54.91B | 56.4B | 61.6B | 62.84B | 61.2B |
| Common Stock | 32.1B | 45.44B | 45.97B | 46.51B | 47.38B | 48.19B | 48.99B | 18M | 18M |
| Accumulated OCI | -165M | 102M | 1.02B | 1.41B | 965M | -1.26B | -297M | -120M | 406M |
| Return on Equity (ROE) | 17.77% | -1.23% | 10.81% | 10.73% | 11.03% | 5.86% | 11.24% | 6.06% | 2.34% |
| Return on Assets (ROA) | 6.99% | -0.41% | 3.17% | 3.17% | 3.45% | 1.87% | 3.49% | 1.83% | 0.69% |
| Equity / Assets | 39.62% | 29.8% | 28.85% | 30.21% | 32.35% | 31.44% | 30.69% | 29.91% | 28.87% |
| Debt / Equity | 0.72x | 1.25x | 1.39x | 1.22x | 1.01x | 0.99x | 1.04x | 1.09x | 1.24x |
| Book Value per Share | 36.81 | 56.08 | 49.17 | 53.04 | 56.72 | 54.25 | 59.41 | 60.01 | 59.31 |
| Tangible BV per Share | -14.05 | -54.27 | -37.32 | -31.20 | -24.65 | -23.57 | -34.01 | -33.97 | -28.01 |
CVS Health Corporation (CVS) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 8.01B | 8.87B | 12.85B | 15.87B | 18.27B | 16.18B | 13.43B | 9.11B | 10.64B |
| Operating CF Growth % | -21.04% | 10.72% | 44.93% | 23.48% | 15.13% | -11.43% | -17.01% | -32.17% | 16.82% |
| Operating CF / Revenue % | 4.33% | 4.56% | 5% | 5.9% | 6.25% | 5.02% | 3.75% | 2.44% | 2.65% |
| Net Income | 6.62B | -596M | 6.63B | 7.19B | 7.99B | 4.33B | 8.37B | 4.59B | 1.77B |
| Depreciation & Amortization | 2.48B | 2.72B | 4.37B | 4.44B | 4.49B | 4.22B | 4.37B | 4.6B | 0 |
| Stock-Based Compensation | 234M | 280M | 453M | 400M | 484M | 447M | 588M | 540M | 0 |
| Deferred Taxes | -1.33B | 87M | -654M | -570M | -402M | -2.03B | -676M | -572M | 0 |
| Other Non-Cash Items | 421M | 6.49B | 548M | 1.24B | 1.85B | 2.39B | 765M | -153M | 10.35B |
| Working Capital Changes | -416M | -112M | 1.5B | 3.16B | 3.86B | 6.82B | 15M | 109M | -1.47B |
| Cash from Investing | -2.88B | -43.28B | -3.34B | -5.53B | -5.26B | -5.05B | -20.89B | -7.61B | -5.87B |
| Capital Expenditures | -1.92B | -2.04B | -2.46B | -2.44B | -2.52B | -2.73B | -3.03B | -2.78B | -2.83B |
| Acquisitions | -1.18B | -41.39B | -444M | -26M | -146M | -1.39B | -16.61B | -95M | -436M |
| Purchase of Investments | -137M | -692M | -7.53B | -9.64B | -9.96B | -7.75B | -9.04B | -15.19B | -15.01B |
| Sale/Maturity of Investments | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Investing | 298M | 21M | 47M | 101M | 122M | 85M | 68M | 101M | 26M |
| Cash from Financing | -6.75B | 36.82B | -7.65B | -7.7B | -11.36B | -10.52B | 2.68B | -1.14B | -4.94B |
| Dividends Paid | -2.05B | -2.04B | -2.6B | -2.62B | -2.63B | -2.91B | -3.13B | -3.37B | -3.4B |
| Share Repurchases | -4.36B | 0 | 0 | 0 | 0 | -3.5B | -2.01B | -3.02B | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 394M |
| Debt Issuance (Net) | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 1000K | -1000K |
| Other Financing | 257M | 592M | 269M | 601M | 536M | 102M | -105M | 202M | 1.96B |
| Net Change in Cash | -1.62B▲ 0% | 2.4B▲ 247.8% | 1.85B▼ 22.5% | 2.63B▲ 42.0% | 1.65B▼ 37.5% | 614M▼ 62.7% | -4.78B▼ 878.5% | 359M▲ 107.5% | -172M▼ 147.9% |
| Exchange Rate Effect | 1000K | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 3.52B | 1.9B | 6.55B | 8.41B | 11.04B | 12.69B | 13.3B | 8.53B | 8.88B |
| Cash at End | 1.9B | 4.29B | 8.41B | 11.04B | 12.69B | 13.3B | 8.53B | 8.88B | 8.71B |
| Free Cash Flow | 6.09B▲ 0% | 6.83B▲ 12.1% | 10.39B▲ 52.2% | 13.43B▲ 29.2% | 15.74B▲ 17.3% | 13.45B▼ 14.6% | 10.39B▼ 22.7% | 6.33B▼ 39.1% | 7.81B▲ 23.4% |
| FCF Growth % | -23.09% | 12.14% | 52.18% | 29.23% | 17.26% | -14.58% | -22.71% | -39.14% | 23.41% |
| FCF Margin % | 3.3% | 3.51% | 4.05% | 5% | 5.39% | 4.17% | 2.91% | 1.7% | 1.94% |
| FCF per Share | 5.95 | 6.54 | 7.96 | 10.22 | 11.85 | 10.17 | 8.06 | 5.01 | 6.14 |
CVS Health Corporation (CVS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Combined Ratio | 94.15% | 94.84% | 97.93% | 95.33% | 94.82% | 95.44% | 97.53% | 96.16% | 97.72% | 97.42% |
| Medical Cost Ratio | 83.76% | 84.56% | 83.79% | 82.27% | 81.75% | 82.16% | 83.1% | 84.79% | 86.21% | 86.23% |
| Return on Equity (ROE) | 14.36% | 17.77% | -1.23% | 10.81% | 10.73% | 11.03% | 5.86% | 11.24% | 6.06% | 2.34% |
| Return on Assets (ROA) | 5.69% | 6.99% | -0.41% | 3.17% | 3.17% | 3.45% | 1.87% | 3.49% | 1.83% | 0.69% |
| Equity / Assets | 38.99% | 39.62% | 29.8% | 28.85% | 30.21% | 32.35% | 31.44% | 30.69% | 29.91% | 28.87% |
| Book Value / Share | 34.14 | 36.81 | 56.08 | 49.17 | 53.04 | 56.72 | 54.25 | 59.41 | 60.01 | 59.31 |
| Debt / Equity | 0.75x | 0.72x | 1.25x | 1.39x | 1.22x | 1.01x | 0.99x | 1.04x | 1.09x | 1.24x |
| Revenue Growth | 15.82% | 4.08% | 5.3% | 31.96% | 4.65% | 8.71% | 10.39% | 10.95% | 4.2% | 7.85% |
CVS Health Corporation (CVS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Mar 19, 2026·SEC
Feb 10, 2026·SEC
Dec 9, 2025·SEC
CVS Health Corporation (CVS) stock FAQ — growth, dividends, profitability & financials explained
CVS Health Corporation (CVS) grew revenue by 7.8% over the past year. This is steady growth.
Yes, CVS Health Corporation (CVS) is profitable, generating $1.77B in net income for fiscal year 2025 (0.4% net margin).
Yes, CVS Health Corporation (CVS) pays a dividend with a yield of 3.31%. This makes it attractive for income-focused investors.
CVS Health Corporation (CVS) has a return on equity (ROE) of 2.3%. This is below average, suggesting room for improvement.
CVS Health Corporation (CVS) has a combined ratio of 97.4%. A ratio below 100% indicates underwriting profitability.
CVS Health Corporation (CVS) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates