CVS Health

Health Care Health Care Services Woonsocket, Rhode Island Last filing Feb 10, 2026 · FY2025

                    Revenue
                    FY2025
                
$402.1B
                    3y CAGR +7.6%
                    
                    P63
                    
                    +7.8%
                    
                    Net income
                    FY2025
                
$1.8B
                    Net margin +0.4%
                    
                    P10
                    
                    -61.7%
                    
                    Total assets
                    FY2025
                
$253.5B
                    ROA +0.7%
                    
                    P10
                    
                    +0.1%
                    
                    Operating cash flow
                    FY2025
                
$10.6B
                    FCF margin +1.9%
                    
                    P18
                    
                    +16.8%

20 yrs · FY1989–FY2025 17 gaps (2006–1990) 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $253.5B

Total liabilities $178.2B

Shareholders equity $75.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+10.8%	+12.4%	+13.5%	+25.1%	+22.8%	+23.5%	+19.0%	+9.7%	-49.7%	—
Short Term Investments	+42.8%	+51.4%	+67.8%	+78.1%	+104.6%	+142.3%	+201.0%	+438.4%	+27.6%	—
Accounts Receivable	+14.1%	+14.7%	+16.4%	+14.4%	+15.0%	+15.6%	+17.3%	+20.4%	+8.4%	—
Inventory	+3.0%	+2.6%	+2.9%	+4.4%	+3.8%	+5.8%	+5.9%	+5.6%	+3.6%	—
Prepaid Expenses	+25.5%	+21.2%	+25.0%	+26.3%	+51.6%	+68.2%	+97.9%	+163.5%	+43.2%	—
Other Current Assets	+25.5%	+21.2%	+25.0%	+26.3%	+51.6%	+68.2%	+97.9%	+163.5%	+43.2%	—
Total Current Assets	+10.3%	+10.4%	+11.8%	+13.3%	+14.1%	+16.1%	+17.5%	+20.7%	+0.6%	—
Property,Plant and Equipment	+2.8%	+3.1%	+3.8%	+4.0%	+4.9%	+5.5%	+65.1%	+5.6%	+1.1%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+9.3%	+11.5%	+13.2%	+12.6%	+15.6%	+20.1%	+27.8%	+43.4%	+0.5%	—
Intangible Assets	+7.3%	+9.2%	+11.7%	+10.6%	+16.5%	+23.2%	+34.8%	+64.4%	+0.9%	—
Long Term Investments	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	+14.7%	+15.8%	+17.7%	+20.8%	+26.0%	+32.8%	+45.8%	+84.3%	-4.6%	—
Total Assets	+11.6%	+13.1%	+14.9%	+15.8%	+19.8%	+25.0%	+33.0%	+44.2%	+0.7%	—
Liabilities
Accounts Payable	+9.3%	+9.1%	+9.4%	+11.0%	+9.6%	+8.8%	+9.7%	+6.0%	+11.5%	—
Accrued Liabilities	+13.9%	+14.7%	+18.1%	+18.0%	+20.6%	+19.7%	+20.5%	+24.3%	-5.1%	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	+13.3%	+17.0%	+21.9%	+27.7%	+4.2%	+11.0%	+11.8%	+34.0%	-17.6%	—
Total Current Liabilities	+14.5%	+15.8%	+17.1%	+17.7%	+20.9%	+24.0%	+26.6%	+29.5%	+16.8%	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	-4.6%	-5.3%	-4.3%	-6.7%	+1.3%	+3.7%	+7.4%	+14.2%	-49.1%	—
Other Noncurrent Liabilities	+13.3%	+17.0%	+21.9%	+27.7%	+4.2%	+11.0%	+11.8%	+34.0%	-17.6%	—
Total Liabilities	—	—	—	—	—	—	—	—	—	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+92.8%	+0.7%	+0.8%	+1.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+5.3%	+5.8%	+6.5%	+7.3%	+8.4%	+10.1%	+13.3%	+19.9%	+1.5%	—
Retained Earnings	+5.1%	+6.1%	+6.8%	+6.3%	+7.1%	+6.2%	+5.0%	+2.4%	+11.7%	—
Treasury Stock	+1.1%	+1.2%	+0.2%	-0.8%	-3.4%	-4.2%	-5.5%	-8.1%	+13.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	+51.5%	+59.8%	+71.6%	+105.4%	+138.1%	+197.2%	+324.5%	+791.6%	+0.0%	—
Total Stockholders Equity	+8.3%	+9.4%	+11.0%	+11.6%	+15.3%	+17.2%	+20.1%	+25.7%	+2.3%	—
Total Liabilitiesand Equity	+11.6%	+13.1%	+14.9%	+15.8%	+19.8%	+25.0%	+33.0%	+44.2%	+0.7%	—

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $402.1B

Operating income $4.7B

Net income $1.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+9.5%	+9.7%	+10.5%	+10.5%	+10.5%	+10.9%	+13.1%	+4.5%	+4.1%	—
Expenses Cost of Revenue	+4.7%	+4.4%	+5.8%	+5.0%	+3.7%	+2.9%	+2.7%	+3.3%	+4.7%	—
Expenses Depreciation and Amortization	+7.1%	+8.0%	+8.4%	+9.3%	+12.6%	+15.7%	+20.9%	+4.8%	+0.2%	—
Expenses Share Based Compensation	+10.3%	+11.8%	+14.9%	+12.4%	+16.9%	+15.9%	+26.8%	+12.3%	+5.4%	—
Expenses Restructuring and Asset Impairment	—	—	—	—	—	—	—	—	—	—
Expenses Operating Expenses	+40.7%	+45.2%	+51.9%	+60.4%	+72.1%	+92.8%	+22.1%	+7.6%	+2.0%	—
Other Income Expense Operating Income	-8.5%	-2.5%	+4.1%	-4.3%	+5.1%	+7.6%	+4.9%	-37.8%	-8.2%	—
Other Income Expense Interest Income	+68.9%	+79.5%	+78.5%	+86.4%	+126.8%	+151.3%	+269.7%	+474.5%	+5.0%	—
Other Income Expense Interest Expense	+12.5%	+13.4%	+13.8%	+13.4%	+18.4%	+28.1%	+41.2%	+55.9%	-1.5%	—
Other Income Expense Other Income/expense	—	—	—	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	-14.4%	-4.2%	+3.7%	-6.3%	+4.1%	+3.1%	+1.4%	-59.7%	-4.3%	—
Income Tax Income Tax Expense	-20.8%	-9.0%	-2.4%	-12.3%	-5.1%	-6.2%	-10.7%	-22.3%	-50.6%	—
net Income net Income	-11.5%	-1.8%	+6.6%	-3.4%	+8.5%	+7.8%	+7.7%	—	+24.5%	—
net Income Comprehensive Income	-9.0%	-1.4%	+8.2%	-10.8%	+7.4%	+9.0%	+12.0%	—	+25.9%	—
Earnings Per Share Basic Eps	-13.1%	-3.6%	+4.0%	-6.5%	+4.2%	+2.7%	+1.1%	—	+31.2%	—
Earnings Per Share Diluted Eps	-13.1%	-3.6%	+4.1%	-6.6%	+4.2%	+2.7%	+1.2%	—	+31.4%	—
Earnings Per Share Weighted Average Shares Basic	+1.9%	+2.0%	+2.6%	+3.4%	+4.2%	+5.1%	+6.6%	-1.4%	-4.9%	—
Earnings Per Share Weighted Average Shares Diluted	+1.8%	+2.0%	+2.6%	+3.5%	+4.3%	+5.0%	+6.5%	-1.6%	-5.1%	—

Cash Flow Statement

Operating, investing, and financing flows

24 accounts · 10 years

Operating cash flow $10.6B

Investing cash flow $-5.9B

Financing cash flow $-4.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	-11.5%	-1.8%	+6.6%	-3.4%	+8.5%	+7.8%	+7.7%	—	+24.5%	—
Operating Activities Depreciation and Amortization	+7.1%	+8.0%	+8.4%	+9.3%	+12.6%	+15.7%	+20.9%	+4.8%	+0.2%	—
Operating Activities Stock Based Compensation	+10.3%	+11.8%	+14.9%	+12.4%	+16.9%	+15.9%	+26.8%	+12.3%	+5.4%	—
Operating Activities Deferred Income Taxes	+48.0%	—	—	—	—	—	—	+176.9%	—	—
Operating Activities Changes In Operating Assets and Liabilities	+11.4%	+1.7%	+14.9%	+17.6%	+8.3%	+12.6%	+27.5%	+18.9%	-4.1%	—
Operating Activities Other Non Cash Items	+33.2%	—	+39.2%	+86.8%	+79.8%	+106.1%	+113.3%	+4.2%	—	—
Operating Activities net Cash From Operating Activities	+0.5%	-1.3%	+4.1%	+8.1%	+12.5%	+11.8%	+8.2%	-6.5%	-21.0%	—
Investing Activities Capital Expenditures	+2.7%	+2.8%	+4.5%	+3.5%	+2.5%	+2.3%	+3.4%	-4.3%	-13.8%	—
Investing Activities Business Acquisitions	-2.0%	-19.2%	+63.8%	-19.8%	-22.6%	+13.4%	-5.4%	+797.7%	+125.4%	—
Investing Activities Purchases of Investments	+78.9%	+92.7%	+96.5%	+114.3%	+162.5%	+231.3%	+355.0%	+194.1%	+71.2%	—
Investing Activities Proceeds From Sale of Investments	+72.6%	+80.7%	+88.6%	+104.9%	+140.0%	+190.3%	+326.3%	+199.6%	-33.0%	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+1.6%	+10.9%	+17.8%	—	-22.2%	+30.3%	+2.6%	+258.3%	—	—
Financing Activities Repayment of Debt	-5.3%	-2.7%	-8.6%	-5.6%	+11.5%	+27.3%	+11.9%	-3.6%	—	—
Financing Activities Repurchase of Common Stock	—	-4.7%	-10.8%	-4.0%	—	—	—	—	-2.2%	—
Financing Activities Dividends Paid	+7.0%	+7.9%	+7.9%	+7.9%	+7.4%	+9.3%	+12.3%	+5.2%	+11.4%	—
Financing Activities Proceeds From Stock Issuance	+3.2%	+2.5%	-0.9%	+10.9%	+13.2%	-2.8%	-10.8%	-9.6%	+11.1%	—
Financing Activities Tax Withholding On Stock Based Compensation	+9.1%	+12.5%	+14.1%	+31.4%	+18.5%	+5.1%	+15.9%	+16.1%	-1.4%	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	-11.0%	—	-6.4%	+12.6%	+30.4%	+26.7%	+62.1%	—	—
Cash Reconciliation Cash At Beginning of Period	+10.6%	+12.3%	+13.5%	+24.8%	+29.2%	+33.1%	+33.7%	+10.5%	-46.0%	—
Cash Reconciliation Cash At End of Period	+10.6%	+12.3%	+13.5%	+24.8%	+29.2%	+33.1%	+33.7%	+10.5%	-46.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+45.0%	+44.7%	+39.3%	+38.9%	+39.8%	+39.0%	+38.2%	+19.3%	+16.9%	+17.5%
Operating margin	+1.2%	+2.3%	+3.8%	+2.5%	+4.6%	+5.2%	+4.7%	+2.1%	+5.2%	+5.9%
Net margin	+0.4%	+1.2%	+2.3%	+1.3%	+2.7%	+2.7%	+2.6%	-0.3%	+3.6%	+3.0%
FCF margin	+1.9%	+1.7%	+2.9%	+4.2%	+5.4%	+5.0%	+4.0%	+3.5%	+3.3%	+4.5%
Growth
Revenue CAGR (3y)	+7.6%	+8.5%	+10.0%	+7.9%	+14.6%	+13.3%	+13.1%	+8.2%	+9.9%	+11.9%
Returns
ROE	+2.4%	+6.1%	+10.9%	+6.1%	+10.7%	+10.3%	+10.4%	-1.0%	+17.6%	+14.4%
ROA	+0.7%	+1.8%	+3.3%	+1.9%	+3.4%	+3.1%	+3.0%	-0.3%	+7.0%	+5.6%
ROIC	—	+4.7%	+7.9%	—	—	—	+14.3%	+0.0%	+12.4%	+10.8%
Liquidity
Current ratio	0.84x	0.81x	0.86x	0.94x	0.88x	0.91x	0.94x	1.03x	1.02x	1.18x
Quick ratio	0.54x	0.53x	0.55x	0.58x	0.50x	0.48x	0.47x	0.49x	0.49x	0.59x
Leverage
D/E	2.37x	2.35x	2.26x	2.21x	2.10x	2.32x	2.48x	2.37x	1.52x	1.56x
Interest coverage	1.49x	2.88x	5.17x	3.48x	5.32x	4.79x	3.95x	1.54x	8.98x	9.63x
Efficiency
Asset turnover	1.59x	1.47x	1.43x	1.41x	1.25x	1.16x	1.15x	0.99x	1.94x	1.88x
Cash conversion cycle	+39d	+40d	+41d	+39d	+41d	+46d	+44d	+51d	+41d	+42d

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CVS Health

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