Wednesday 14 October 2026
Export CVS’s income statement to Excel — free account
CVS Health Corporation
CVS Healthcare Healthcare Plans
CVS Health Corporation’s revenue for fiscal 2025 (year ended December 2025) was $402.1 billion, up 7.85% from fiscal 2024. In the quarter to June 2026, revenue grew 7.26%, EPS grew 187.7%, free cash flow grew 338.3% and total debt fell 7.64%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten.
87.65
0.09
−0.10%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.27 | 11.35 | 0.00 | 14.60 | 12.46 | 17.19 | 29.31 | 12.46 | 12.23 | 56.28 |
Piotroski F-Score |
7 | 7 | 4 | 6 | 6 | 7 | 7 | 7 | 6 | 7 |
P/S ratio |
0.49 | 0.41 | 0.35 | 0.38 | 0.33 | 0.47 | 0.38 | 0.29 | 0.15 | 0.25 |
Altman Z-Score |
3.76 | 3.69 | 1.65 | 1.97 | 1.97 | 2.25 | 2.32 | 2.26 | 2.05 | 2.26 |
Altman Z″-Score (non-manufacturers) |
3.09 | 2.90 | 1.30 | 1.36 | 1.40 | 1.43 | 1.41 | 1.34 | 1.07 | 0.99 |
P/FCF ratio |
10.89 | 12.32 | 10.02 | 9.30 | 6.66 | 8.64 | 9.06 | 9.99 | 8.93 | 12.88 |
Beneish M-Score |
(2.72) | (2.47) | (2.45) | (2.62) | (2.58) | (2.60) | (2.62) | (2.34) | (2.61) | (2.64) |
P/Operating CF |
40.65 | (551.40) | 27.59 | 36.69 | 25.06 | 33.97 | (62.45) | (39.41) | 30.39 | 29.66 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 43 |
P/B ratio |
2.34 | 1.99 | 1.17 | 1.51 | 1.28 | 1.81 | 1.70 | 1.36 | 0.75 | 1.33 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.62 | 0.54 | 0.70 | 0.61 | 0.53 | 0.62 | 0.49 | 0.43 | 0.30 | 0.38 |
EV/EBITDA |
8.58 | 8.21 | 10.49 | 9.60 | 7.80 | 9.86 | 13.01 | 8.51 | 8.53 | 10.31 |
EV/Operating CF |
10.88 | 12.51 | 15.26 | 12.23 | 9.03 | 9.84 | 9.79 | 11.47 | 12.28 | 14.52 |
EV/FCF |
13.93 | 16.45 | 19.81 | 15.12 | 10.66 | 11.41 | 11.78 | 14.82 | 17.67 | 19.79 |
Quick Ratio |
0.60 | 0.49 | 0.55 | 0.52 | 0.53 | 0.55 | 0.62 | 0.59 | 0.56 | 0.57 |
Current Ratio |
1.18 | 1.02 | 1.03 | 0.94 | 0.91 | 0.89 | 0.95 | 0.86 | 0.81 | 0.84 |
Net Debt/EBITDA |
1.87 | 2.07 | 5.19 | 3.69 | 2.93 | 2.39 | 3.00 | 2.77 | 4.22 | 3.60 |
Debt/Assets |
29.15% | 28.38% | 37.38% | 30.78% | 28.02% | 24.11% | 22.89% | 24.67% | 26.17% | 25.47% |
Debt/Equity |
0.75 | 0.72 | 1.25 | 1.07 | 0.93 | 0.75 | 0.73 | 0.80 | 0.88 | 0.86 |
Asset Turnover |
1.90 | 1.95 | 1.33 | 1.23 | 1.19 | 1.26 | 1.40 | 1.50 | 1.48 | 1.59 |
Operating CF/Net income |
1.91 | 1.21 | (14.92) | 1.94 | 2.21 | 2.28 | 3.75 | 1.61 | 1.97 | 6.02 |
Capex/Depreciation |
(0.90) | (0.72) | (0.23) | (0.56) | (0.55) | (0.51) | (0.65) | (0.69) | (0.60) | (0.27) |
Interest Coverage |
9.63 | 8.98 | 1.54 | 3.95 | 4.79 | 5.32 | 3.48 | 5.17 | 2.88 | 1.49 |
| 14.36% | 17.77% | (1.23%) | 10.81% | 10.73% | 11.03% | 5.86% | 11.24% | 6.06% | 2.34% | |
| 5.69% | 6.99% | (0.41%) | 3.17% | 3.17% | 3.45% | 1.87% | 3.49% | 1.83% | 0.70% | |
ROIC |
10.66% | 9.48% | 2.00% | 6.01% | 7.04% | 6.99% | 4.59% | 6.77% | 4.06% | 2.25% |
Return on Tangible Assets |
35.52% | 60.90% | (4.72%) | 73.36% | 103.18% | 156.97% | 47.45% | 450.54% | (155.30%) | (197.54%) |
Average Days of Receivables |
25.01 | 26.04 | 33.07 | 27.89 | 29.53 | 30.53 | 30.87 | 35.94 | 35.71 | 36.11 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Intangible Assets out of Total Assets |
0.55 | 0.55 | 0.59 | 0.51 | 0.48 | 0.46 | 0.45 | 0.48 | 0.47 | 0.44 |
Share Based Compensation of Revenue |
0.13% | 0.13% | 0.14% | 0.18% | 0.15% | 0.17% | 0.14% | 0.16% | 0.14% | 0.13% |
Graham Net Nets |
(0.31) | (0.35) | (1.35) | (1.12) | (1.17) | (0.72) | (0.75) | (1.01) | (1.93) | (1.03) |
Graham Number |
61.77 | 73.40 | 0.00 | 75.16 | 81.03 | 87.84 | 62.46 | 93.32 | 70.48 | 43.45 |
Earnings Yield |
6.15% | 8.81% | (0.84%) | 6.85% | 8.02% | 5.82% | 3.41% | 8.03% | 8.18% | 1.78% |
Free Cash Flow Yield |
9.18% | 8.12% | 9.98% | 10.75% | 15.02% | 11.57% | 11.03% | 10.01% | 11.19% | 7.76% |
Revenue per Share |
165.47 | 181.16 | 186.38 | 197.37 | 205.28 | 221.46 | 245.78 | 278.42 | 296.12 | 317.34 |
Operating CF per Share |
9.45 | 7.85 | 8.49 | 9.88 | 12.12 | 13.85 | 12.33 | 10.45 | 7.23 | 8.40 |
Capex per Share |
(2.07) | (1.88) | (1.95) | (1.89) | (1.86) | (1.91) | (2.08) | (2.36) | (2.21) | (2.24) |
Free Cash Flow per Share |
7.38 | 5.97 | 6.54 | 7.99 | 10.26 | 11.94 | 10.25 | 8.09 | 5.02 | 6.16 |
Cash per Share |
3.22 | 1.77 | 6.30 | 6.19 | 8.29 | 9.50 | 11.98 | 8.91 | 8.73 | 8.36 |
Shareholders Equity per Share |
34.33 | 36.96 | 56.08 | 49.32 | 53.25 | 57.15 | 54.70 | 59.64 | 60.15 | 59.50 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
34.33 | 36.96 | 56.08 | 49.32 | 53.25 | 57.15 | 54.70 | 59.64 | 60.15 | 59.50 |
Free Cash Flow |
7,917.00 | 6,089.00 | 6,828.00 | 10,391.00 | 13,428.00 | 15,745.00 | 13,450.00 | 10,395.00 | 6,326.00 | 7,807.00 |
Working Capital |
4,792.00 | 581.00 | 1,234.00 | (3,001.00) | (5,648.00) | (7,799.00) | (3,788.00) | (11,331.00) | (15,964.00) | (13,978.00) |
Capital Expenditures |
(2,224.00) | (1,918.00) | (2,037.00) | (2,457.00) | (2,437.00) | (2,520.00) | (2,727.00) | (3,031.00) | (2,781.00) | (2,832.00) |
Net Current Asset Value |
(26,586.00) | (26,207.00) | (92,670.00) | (107,977.00) | (104,645.00) | (97,610.00) | (90,873.00) | (105,234.00) | (108,840.00) | (103,442.00) |
EV/EBIT |
10.62 | 10.50 | 33.64 | 13.10 | 10.29 | 13.50 | 19.92 | 11.21 | 13.13 | 33.16 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Price to Operating Income |
8.30 | 7.86 | 17.01 | 8.06 | 6.43 | 10.22 | 15.33 | 7.56 | 6.64 | 21.58 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.24 | 0.26 | 0.78 | 0.36 | 0.35 | 0.38 | 0.33 | 0.33 | 0.35 | 0.79 |
Cash ROIC |
11.67% | 9.16% | 4.93% | 7.38% | 9.25% | 10.93% | 9.62% | 6.94% | 4.13% | 5.19% |
Accounts Receivable Turnover |
14.76 | 14.58 | 12.63 | 13.79 | 12.99 | 12.65 | 12.47 | 11.45 | 10.40 | 10.55 |
Accounts Payable Turnover |
18.99 | 18.26 | 17.59 | 16.35 | 15.16 | 14.85 | 14.38 | 14.60 | 13.40 | 13.19 |
Inventory Turnover |
10.19 | 10.21 | 9.86 | 9.35 | 9.11 | 9.70 | 10.69 | 11.70 | 11.42 | 11.84 |
Average Days of Payables |
19.79 | 21.08 | 20.82 | 24.13 | 24.79 | 26.04 | 27.51 | 25.05 | 28.12 | 29.11 |
Days of Inventory on Hand |
36.77 | 36.38 | 38.38 | 40.28 | 41.17 | 36.87 | 35.39 | 30.30 | 32.04 | 31.76 |
Average Receivables |
12,026.00 | 12,672.50 | 15,406.00 | 18,624.00 | 20,679.50 | 23,086.50 | 25,853.50 | 31,251.50 | 35,848.00 | 38,124.00 |
Average Payables |
7,718.00 | 8,404.50 | 8,894.00 | 9,708.50 | 10,815.00 | 11,841.00 | 13,691.00 | 14,867.50 | 15,394.50 | 16,766.50 |
Average Inventory |
14,380.50 | 15,028.00 | 15,873.00 | 16,983.00 | 18,006.00 | 18,128.00 | 18,425.00 | 18,557.50 | 18,066.00 | 18,676.50 |
Average Assets |
93,449.50 | 94,796.50 | 145,793.50 | 209,452.50 | 226,582.00 | 231,857.00 | 230,637.00 | 239,001.50 | 251,471.50 | 253,376.50 |
Average Common Equity |
37,018.50 | 37,264.50 | 48,119.00 | 61,356.50 | 66,935.50 | 72,541.00 | 73,575.00 | 74,202.50 | 76,183.00 | 75,556.00 |
Columns are period end dates