Last 48 quarters of trend data · Healthcare · Medical - Healthcare Plans
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
CVS Health Corporation's quarterly P/E stands at 8.6x, down 0.1% year-over-year. EV/EBITDA has expanded 53.6% YoY to 14.3x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 57.48 | 8.63 | — | 21.56 | 12.01 | 8.63 | 227.50 | 10.47 | 22.66 | 12.42 | 9.97 | 11.68 | 11.26 |
| — | -0.1% | — | +105.9% | -47.0% | -30.5% | +2180.8% | -10.3% | +101.3% | -5.7% | — | +15.4% | -21.2% | |
| P/S Ratio | 0.25 | 0.24 | 0.23 | 0.22 | 0.23 | 0.14 | 0.21 | 0.20 | 0.29 | 0.27 | 0.25 | 0.25 | 0.28 |
| — | +65.5% | +12.1% | +8.7% | -20.8% | -46.8% | -17.3% | -18.5% | +1.6% | -25.8% | -35.1% | -34.1% | -35.7% | |
| P/B Ratio | 1.35 | 1.34 | 1.31 | 1.13 | 1.11 | 0.75 | 1.05 | 0.99 | 1.36 | 1.33 | 1.21 | 1.22 | 1.34 |
| — | +79.9% | +24.1% | +14.1% | -18.5% | -43.9% | -12.8% | -18.8% | +1.7% | -22.2% | -31.6% | -24.8% | -26.1% | |
| P/FCF | 13.01 | 9.72 | 244.06 | 16.98 | 5.61 | 12.96 | — | 7.58 | 6.02 | — | 10.37 | 4.18 | 3.72 |
| — | -25.0% | — | +123.9% | -6.7% | — | — | +81.3% | +61.9% | — | +182.6% | -31.2% | -72.2% | |
| EV / EBITDA | 12.45 | 14.30 | — | 11.16 | 8.66 | 9.31 | 19.44 | 8.68 | 12.69 | 9.61 | 8.15 | 9.07 | 8.87 |
| — | +53.6% | — | +28.6% | -31.8% | -3.1% | +138.4% | -4.3% | +43.1% | -0.7% | — | +13.1% | -19.3% | |
| EV / EBIT | 17.97 | 21.77 | — | 16.45 | 11.52 | 11.37 | 45.21 | 11.87 | 18.84 | 12.76 | 10.58 | 12.08 | 11.38 |
| — | +91.5% | — | +38.6% | -38.9% | -10.9% | +327.3% | -1.7% | +65.6% | +3.4% | — | +23.4% | -19.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
CVS Health Corporation's operating margin was 2.0% in Q4 2025, up 5.1 pp QoQ and down 0.4 pp YoY.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.8% | 12.8% | 13.4% | 13.7% | 15.2% | 13.2% | 13.2% | 14.7% | 14.2% | 14.8% | 15.1% | 15.3% | 15.7% |
| — | -2.8% | +2.0% | -6.3% | +7.2% | -10.7% | -13.0% | -4.1% | -9.4% | -10.2% | -8.3% | -11.0% | -10.0% | |
| Operating Margin | 2.6% | 2.0% | -3.1% | 2.4% | 3.6% | 2.4% | 0.9% | 3.3% | 2.6% | 3.6% | 4.1% | 3.6% | 4.0% |
| — | -17.5% | -457.6% | -27.9% | +38.9% | -32.6% | -78.8% | -8.2% | -36.5% | -16.7% | +185.1% | -37.2% | -12.4% | |
| Net Margin | 0.4% | 2.8% | -3.9% | 1.0% | 1.9% | 1.7% | 0.1% | 1.9% | 1.3% | 2.2% | 2.5% | 2.1% | 2.5% |
| — | +65.5% | -4337.0% | -46.8% | +49.4% | -22.9% | -96.4% | -9.3% | -49.8% | -20.6% | +160.0% | -43.1% | -18.3% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 4.0% | -5.3% | 1.3% | 2.3% | 2.2% | 0.1% | 2.4% | 1.5% | 2.7% | 3.1% | 2.6% | 3.0% |
| — | +81.8% | -4656.7% | -44.3% | +57.7% | -19.5% | -96.2% | -9.8% | -50.5% | -16.0% | +165.9% | -35.0% | -5.4% | |
| ROA | 0.7% | 1.1% | -1.5% | 0.4% | 0.7% | 0.7% | 0.0% | 0.7% | 0.4% | 0.8% | 0.9% | 0.8% | 0.9% |
| — | +75.3% | -4586.1% | -43.6% | +56.9% | -20.4% | -96.2% | -9.3% | -51.2% | -18.5% | +161.1% | -40.6% | -9.6% | |
| ROIC | 5.0% | 1.0% | -1.6% | 1.2% | 1.7% | 1.2% | 0.4% | 1.6% | 1.2% | 1.7% | 2.0% | 1.8% | 2.0% |
| — | -12.3% | -489.6% | -22.9% | +46.4% | -32.5% | -78.5% | -11.6% | -41.0% | -18.0% | +187.4% | -29.6% | +4.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
CVS Health Corporation's Debt/EBITDA ratio is 28.7x — elevated, raising questions about debt serviceability. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.24 | 1.24 | 1.12 | 1.07 | 1.05 | 1.09 | 1.10 | 1.12 | 1.10 | 1.04 | 1.07 | 1.13 | 1.07 |
| — | +13.4% | +1.5% | -4.4% | -4.5% | +5.7% | +2.4% | -0.8% | +3.2% | +5.1% | +7.4% | +14.5% | +4.3% | |
| Debt / EBITDA | 6.24 | 28.72 | — | 23.29 | 17.94 | 23.59 | 41.50 | 19.98 | 23.99 | 17.61 | 16.63 | 18.93 | 17.20 |
| — | +21.7% | — | +16.6% | -25.2% | +33.9% | +149.6% | +5.5% | +39.5% | +16.2% | — | +46.8% | +4.1% | |
| Current Ratio | 0.84 | 0.84 | 0.83 | 0.80 | 0.82 | 0.81 | 0.80 | 0.86 | 0.81 | 0.86 | 0.86 | 0.86 | 0.92 |
| — | +3.8% | +4.5% | -6.5% | +1.6% | -5.3% | -7.5% | +0.5% | -11.5% | -9.4% | -8.9% | -5.8% | +3.9% | |
| Quick Ratio | 0.63 | 0.63 | 0.63 | 0.62 | 0.63 | 0.60 | 0.59 | 0.66 | 0.61 | 0.63 | 0.64 | 0.64 | 0.67 |
| — | +4.7% | +6.8% | -6.6% | +2.2% | -5.1% | -8.2% | +3.9% | -8.7% | -6.1% | -7.8% | -2.6% | +8.3% | |
| Interest Coverage | 3.33 | 2.68 | -4.09 | 3.12 | 4.30 | 3.12 | 1.11 | 4.16 | 3.17 | 4.89 | 5.32 | 4.71 | 5.85 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonCVS Health Corporation's current P/E is 57.5x. The average P/E over the last 3 quarters is 14.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
CVS Health Corporation's current operating margin is 2.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking CVS Health Corporation's business trajectory between earnings reports.