CVS Health runs three main businesses under one roof: ~9,000 retail pharmacies across the US; a pharmacy benefit manager (Caremark) that processes drug claims and negotiates prices on behalf of employers and insurers; and a health insurer (Aetna) covering ~26 million medical members. It also operates primary care clinics through Oak Street Health, targeting Medicare-age patients. Revenue comes from insurance premiums, PBM fees and drug rebates, and retail pharmacy sales.
Employees300,000IPOOct 1, 1952SIC8099HQOne CVS Drive, Woonsocket, RI, USA, 02895
to
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)
24.43
Forward P/E
11.51
P/E ex-NRI
12.20
Shiller P/E (CAPE)
17.10
Cash Flow Multiples
P/FCF
10.12
P/OCF
8.01
P/Owner Earnings
16.64
FCF Yield
9.95%
Enterprise Value Multiples
EV / EBIT
20.26
EV / Forward EBIT
13.51
EV / EBITDA
13.43
EV / Forward EBITDA
9.18
EV / Revenue
0.43
EV / Forward Revenue
0.42
Asset / Sales
P/S
0.28
P/B
1.48
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
3.86%
Buybacks & Dilution
3Y Buyback Ratio
0.70%
5Y Share Change
−3.3%
Combined
Shareholder Yield
5.82%
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
2005-06-07
2:1
1998-06-16
2:1
1989-03-15
2:1
1983-05-03
2:1
1972-05-01
2:1
Ex-date
Amount
Pay date
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
2024-01-19
$0.665
2024-02-01
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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
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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
Top institutional holders
Q2 2026| Holder | Shares | % Owned | Chg. shares | |
|---|---|---|---|---|
| BlackRock, Inc. | 123.2M | 9.69% | -2.7M | $12.75B |
| VANGUARD CAPITAL MANAGEMENT LLC | 83.3M | 6.55% | +665.3K | $8.62B |
| Capital World Investors | 75.0M | 5.89% | -2.3M | $7.75B |
| STATE STREET CORP | 60.3M | 4.74% | +961.2K | $6.24B |
| Dodge & Cox | 50.0M | 3.93% | -1.8M | $5.17B |
| WELLINGTON MANAGEMENT GROUP LLP | 33.8M | 2.66% | +11.2M | $3.50B |
| GEODE CAPITAL MANAGEMENT, LLC | 29.9M | 2.35% | +440.6K | $3.08B |
| FMR LLC | 28.9M | 2.27% | -2.3M | $2.99B |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 26.6M | 2.09% | +639.9K | $2.76B |
| Capital Research Global Investors | 24.3M | 1.91% | +4.3M | $2.52B |
10 of 2,091
View allTop insider holdings
as reported| Insider | Shares held | % Owned | |
|---|---|---|---|
| ROBBINS LARRYDirector | 4.8M | 0.3792% | $445.62M |
| BROWN C DAVID IIDirector | 129.3K | 0.0102% | $11.94M |
| Joyner J. DavidOfficer | 70.3K | 0.0055% | $6.50M |
| Shah Prem SOfficer | 64.4K | 0.0051% | $5.94M |
| COWHEY THOMAS F.Officer | 41.1K | 0.0032% | $3.80M |
| MILLON JEAN PIERREDirector | 36.8K | 0.0029% | $3.40M |
| DEPARLE NANCY ANNDirector | 34.2K | 0.0027% | $3.16M |
| Khichi Samrat S.Officer | 33.4K | 0.0026% | $3.09M |
| Clark James DavidOfficer | 27.6K | 0.0022% | $2.55M |
| Finucane Anne A.Director | — | — | — |
10 of 24· 1 withheld
View allRecent insider activity
through Jun 26, 2026| Insider | Action | Shares | Date | |
|---|---|---|---|---|
| Clark James DavidOfficer | Tax Withholding | -454 | $41.3K | Jun 26, 2026 |
| Newman BrianOfficer | Tax Withholding | -2.5K | $225.4K | May 31, 2026 |
| Compton-Phillips AmyOfficer | Tax Withholding | -7.6K | $693.1K | May 31, 2026 |
| AGUIRRE FERNANDODirector | Disposition to the Issuer (Rule 16b-3(e)) | -1.6K | $146.1K | May 21, 2026 |
| ROBBINS LARRYDirector | Open-Market or Private Sale | -370.5K | $34.62M | May 21, 2026 |
| AGUIRRE FERNANDODirector | Disposition to the Issuer (Rule 16b-3(e)) | -30.4K | $2.85M | May 20, 2026 |
| ROBBINS LARRYDirector | Open-Market or Private Sale | -797.6K | $74.56M | May 20, 2026 |
| ROBBINS LARRYDirector | Open-Market or Private Sale | -152.7K | $14.48M | May 20, 2026 |
| ROBBINS LARRYDirector | Open-Market or Private Sale | -66.9K | $6.40M | May 20, 2026 |
| ROBBINS LARRYDirector | Open-Market or Private Sale | -800 | $77.0K | May 20, 2026 |
10 of 2,010
View all