CVS Health runs three interconnected healthcare businesses: ~9,000 US retail pharmacies selling prescriptions and front-of-store goods; a pharmacy benefit manager (Caremark) that processes ~2 billion drug claims annually for employers and health plans; and a health insurer (Aetna) covering ~26 million medical members. It also operates primary care clinics (Oak Street Health) targeting Medicare patients. Revenue comes from insurance premiums, PBM fees and drug rebates, and retail pharmacy sales.
Employees300,000IPOJan 18, 2018SIC8099HQOne CVS Drive, Woonsocket, RI, USA, 02895
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Financials
Profitability
Metric
Current
Margins
Gross Margin
14.2%
Operating Margin
3.4%
EBITDA Margin
3.2%
Net Margin
1.2%
OCF Margin
3.6%
FCF Margin
2.8%
Returns on Capital
ROE
6.4%
ROA
1.9%
ROIC
6.3%
ROCE
5.4%
ROC (Greenblatt)
31.8%
3Y ROIIC
−21.8%
Consistency
Years Profitable / 10Y
9
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
24.36
Forward P/E
11.46
P/E ex-NRI
12.17
Shiller P/E (CAPE)
17.06
Cash Flow Multiples
P/FCF
10.06
P/OCF
8.00
P/Owner Earnings
16.62
FCF Yield
9.99%
Enterprise Value Multiples
EV / EBIT
20.22
EV / Forward EBIT
13.70
EV / EBITDA
13.40
EV / Forward EBITDA
9.31
EV / Revenue
0.43
EV / Forward Revenue
0.43
Asset / Sales
P/S
0.28
P/B
1.47
P/Tangible Book
—
Growth-Adjusted
PEG
—
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
2.89%
Forward Dividend Yield
2.89%
3Y Dividend Growth
6.5%
Payout Ratio
0.35
5Y Yield on Cost
3.94%
Buybacks & Dilution
3Y Buyback Ratio
0.70%
Combined
Shareholder Yield
5.70%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
0.96
Gross Debt / EBITDA
5.69
Cash / Debt
0.18
Equity / Assets
0.31
Coverage
Interest Coverage
4.52
Short-Term Liquidity
Current Ratio
0.87
Quick Ratio
0.66
Cash Ratio
0.16
Composite Scores
Piotroski F-Score
7
Altman Z-Score
2.48
Split History
Date
Split
No split history found.
Ex-date
Amount
Pay date
2026-07-23
$0.665
2026-08-03
2026-04-23
$0.665
2026-05-04
2026-01-22
$0.665
2026-02-02
2025-10-23
$0.665
2025-11-03
2025-07-22
$0.665
2025-08-01
2025-04-22
$0.665
2025-05-01
2025-01-23
$0.665
2025-02-03
2024-10-21
$0.665
2024-11-01
2024-07-22
$0.665
2024-08-01
2024-04-19
$0.665
2024-05-01
10 of 35
View allDate
Transcript
Type
2026-08-05
Q2 2026 CVS Health Corp Earnings Call Transcript
Earnings Call
2026-05-06
Q1 2026 CVS Health Corp Earnings Call Transcript
Earnings Call
2026-03-09
CVS Health Corp at Leerink Global Healthcare Conference Transcript
Conference Presentations
2026-02-10
Q4 2025 CVS Health Corp Earnings Call Transcript
Earnings Call
2025-10-29
Q3 2025 CVS Health Corp Earnings Call Transcript
Earnings Call
2025-07-31
Q2 2025 CVS Health Corp Earnings Call Transcript
Earnings Call
2025-05-01
Q1 2025 CVS Health Corp Earnings Call Transcript
Earnings Call
2025-02-12
Q4 2024 CVS Health Corp Earnings Call Transcript
Earnings Call
2024-11-06
Q3 2024 CVS Health Corp Earnings Call Transcript
Earnings Call
2024-08-07
Q2 2024 CVS Health Corp Earnings Call Transcript
Earnings Call
10 of 64
5-Step DuPont Analysis
ROE %
6.23%
×
×
Net Margin %
1.18%
×
×
Operating Margin %
3.38%
Operating Income
$14.01B
÷
Revenue
$415.09B
×
Tax Burden
0.8450
Net Income
$4.89B
÷
Pretax Income
$5.79B
×
Interest Burden
0.4130
Pretax Income
$5.79B
÷
Operating Income
$14.01B
×
Asset Turnover
1.62
÷
Revenue
$415.09B
÷
Average Total Assets
$256.06B
Begin Total Assets
$258.34B
End Total Assets
$253.77B
×
Equity Multiplier
3.26
÷
Avg Total Assets
$256.06B
÷
Avg Stockholders Equity
$78.54B
Begin Equity
$77.38B
End Equity
$79.70B