CVS Health Corporation (CVS) vs Elevance Health, Inc. (ELV)

CVS Health Corporation and Elevance Health, Inc. are both Healthcare Plans companies. CVS Health Corporation is the larger, with a market value of $108.5B against $86.4B — 1.3× the size. Elevance Health, Inc. trades at the lower P/E: 17.6× against 23.3×. CVS Health Corporation grew revenue faster over the last twelve months: 7.36% against 6.29%. Elevance Health, Inc. has the higher net margin (2.47% vs 1.18%) and the higher return on invested capital (11.8% vs 4.07%). Both pay a dividend; CVS Health Corporation yields more (3.30% vs 1.24%). Across the 23 metrics below, Elevance Health, Inc. leads on 14 and CVS Health Corporation on 9.

Valuation

Metric CVS ELV Healthcare Plans median
P/E 23.27 17.60 23.75
P/S 0.27 0.43 0.40
P/B 1.43 1.91 2.48
Price to free cash flow 9.70 13.67 11.15
EV/EBITDA 8.71 9.02 10.94
EV/Sales 0.39 0.40 0.37
Earnings yield 4.30% 5.68% 3.25%
Free cash flow yield 10.31% 7.32% 8.15%

Profitability

Metric CVS ELV Healthcare Plans median
Gross margin 44.49% 15.12% 19.04%
Operating margin 2.00% 3.63% 1.93%
Net margin 1.18% 2.47% 1.04%
Free cash flow margin 2.83% 3.13% 3.18%
Return on equity 6.21% 11.17% 12.48%
Return on assets 1.91% 4.00% 2.98%
Return on invested capital 4.07% 11.83% 2.04%

Growth

Metric CVS ELV Healthcare Plans median
Revenue growth (TTM) 7.36% 6.29% 7.57%
EPS growth (last fiscal year) (62.02%) (1.83%) —
Revenue growth, 5-year CAGR 8.39% 10.32% 11.88%
Net income growth, 5-year CAGR (24.44%) 4.37% 0.00%

Health

Metric CVS ELV Healthcare Plans median
Debt to equity 0.77 0.69 0.70
Current ratio 0.87 1.52 1.32
Net debt to EBITDA 3.60 (0.44) 0.05

Dividend

Metric CVS ELV Healthcare Plans median
Dividend yield 3.30% 1.24% 1.53%
Payout ratio 1.05 0.18 0.00

Size

Metric CVS ELV Healthcare Plans median
Market cap 108.46b 86.37b 20.34b

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