Cvs Health Corp Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cvs Health Corp has an operating margin of 1.2%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 6/100, suggesting thin profitability after operating expenses. This is down from 2.3% the prior year.
Cvs Health Corp's revenue declined 100% year-over-year, from $372.8B to $402K. This contraction results in a growth score of 0/100.
Cvs Health Corp carries a low D/E ratio of 0.80, meaning only $0.80 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
Cvs Health Corp's current ratio of 0.84 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Cvs Health Corp's free cash flow margin of 1.9% results in a low score of 10/100. Capital expenditures of $3K absorb a large share of operating cash flow.
Cvs Health Corp generates a 2.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 9/100. This is down from 6.1% the prior year.
Cvs Health Corp scores 336257.08, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($99.8B) relative to total liabilities ($178K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Cvs Health Corp passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Cvs Health Corp generates $6.02 in operating cash flow ($11K OCF vs $2K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Cvs Health Corp earns $1.5 in operating income for every $1 of interest expense ($5K vs $3K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Cvs Health Corp (CVS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Cvs Health Corp generated $402K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Cvs Health Corp's EBITDA was $9K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Cvs Health Corp generated $8K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Cvs Health Corp reported $2K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Cvs Health Corp earned $1.39 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 62.0% from the prior year.
Cvs Health Corp held $8K in cash against $61K in long-term debt as of fiscal year 2025.
Cvs Health Corp paid $2.42 per share in dividends in fiscal year 2025. This represents a decrease of 9.0% from the prior year.
Cvs Health Corp had 1.27B shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Cvs Health Corp's operating margin was 1.2% in fiscal year 2025, reflecting core business profitability. This is down 1.1 percentage points from the prior year.
Cvs Health Corp's net profit margin was 0.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.
Cvs Health Corp's ROE was 2.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.8 percentage points from the prior year.
Cvs Health Corp spent $3K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Cvs Health Corp invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
CVS Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $105.7B+2.7% | $102.9B+4.0% | $98.9B+4.6% | $94.6B-3.2% | $97.7B+2.4% | $95.4B+4.6% | $91.2B+3.2% | $88.4B |
| Cost of Revenue | $59.1B+3.5% | $57.0B+5.6% | $54.0B+5.8% | $51.1B-7.6% | $55.3B+4.4% | $52.9B+5.9% | $50.0B+4.0% | $48.1B |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $2.1B+165.9% | -$3.2B-234.7% | $2.4B-29.4% | $3.4B+42.5% | $2.4B+184.6% | $832.0M-72.7% | $3.0B+34.1% | $2.3B |
| Interest Expense | $787.0M+0.4% | $784.0M+2.8% | $763.0M-2.8% | $785.0M+3.6% | $758.0M+0.8% | $752.0M+2.7% | $732.0M+2.2% | $716.0M |
| Income Tax | -$1.6B-408.9% | $508.0M-19.9% | $634.0M-24.1% | $835.0M+66.0% | $503.0M+1379.4% | $34.0M-94.0% | $569.0M+24.8% | $456.0M |
| Net Income | $2.9B+174.0% | -$4.0B-489.3% | $1.0B-42.6% | $1.8B+8.2% | $1.6B+1789.7% | $87.0M-95.1% | $1.8B+59.0% | $1.1B |
| EPS (Diluted) | $2.31+173.8% | $-3.13-491.2% | $0.80-43.3% | $1.41+8.5% | $1.30+1757.1% | $0.07-95.0% | $1.41+60.2% | $0.88 |
CVS Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $253.5B-0.7% | $255.3B-1.2% | $258.3B+1.1% | $255.6B+0.9% | $253.2B+0.3% | $252.4B0.0% | $252.5B+1.1% | $249.7B |
| Current Assets | $74.7B-3.1% | $77.1B+1.9% | $75.6B+3.4% | $73.2B+6.6% | $68.6B+1.9% | $67.3B-3.7% | $70.0B+3.7% | $67.5B |
| Cash & Equivalents | $8.5B-7.1% | $9.1B-22.8% | $11.8B+17.0% | $10.1B+17.4% | $8.6B+24.9% | $6.9B-45.0% | $12.5B+27.6% | $9.8B |
| Inventory | $19.2B+1.5% | $19.0B+8.7% | $17.4B+0.4% | $17.4B-4.0% | $18.1B+2.6% | $17.6B+9.8% | $16.1B-1.7% | $16.3B |
| Accounts Receivable | $39.8B-9.3% | $43.9B+7.9% | $40.7B+2.6% | $39.6B+8.7% | $36.5B+0.8% | $36.2B+11.7% | $32.4B+0.5% | $32.2B |
| Goodwill | $85.5B0.0% | $85.5B-6.3% | $91.2B0.0% | $91.2B-0.1% | $91.3B0.0% | $91.3B0.0% | $91.3B0.0% | $91.3B |
| Total Liabilities | $178.2B-2.2% | $182.2B+0.8% | $180.8B+1.3% | $178.5B+0.6% | $177.5B+0.1% | $177.3B0.0% | $177.4B+1.0% | $175.6B |
| Current Liabilities | $88.7B-4.3% | $92.7B-1.6% | $94.2B+5.8% | $89.0B+5.1% | $84.6B0.0% | $84.6B+4.0% | $81.4B-2.3% | $83.3B |
| Long-Term Debt | $60.5B0.0% | $60.5B+5.6% | $57.3B-3.0% | $59.0B-2.5% | $60.5B+1.2% | $59.8B-4.5% | $62.6B+8.6% | $57.7B |
| Total Equity | $75.2B+3.1% | $72.9B-5.8% | $77.4B+0.6% | $76.9B+1.8% | $75.6B+0.8% | $74.9B0.0% | $74.9B+1.3% | $74.0B |
| Retained Earnings | $61.2B+3.5% | $59.1B-7.6% | $63.9B+0.3% | $63.8B+1.5% | $62.8B+1.3% | $62.0B-1.2% | $62.8B+1.5% | $61.9B |
CVS Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.4B+325.9% | $796.0M-58.0% | $1.9B-58.4% | $4.6B+144.9% | $1.9B+349.7% | -$745.0M-124.1% | $3.1B-37.0% | $4.9B |
| Capital Expenditures | $784.0M+12.3% | $698.0M+15.0% | $607.0M-18.3% | $743.0M-3.3% | $768.0M+14.6% | $670.0M+5.0% | $638.0M-9.5% | $705.0M |
| Free Cash Flow | $2.6B+2559.2% | $98.0M-92.4% | $1.3B-66.2% | $3.8B+249.2% | $1.1B+177.2% | -$1.4B-157.7% | $2.5B-41.6% | $4.2B |
| Investing Cash Flow | -$2.0B+4.3% | -$2.1B-103.8% | -$1.0B-34.4% | -$762.0M-39.3% | -$547.0M+83.7% | -$3.3B-106.0% | -$1.6B+22.4% | -$2.1B |
| Financing Cash Flow | -$2.0B-47.0% | -$1.4B-271.5% | $806.0M+134.6% | -$2.3B-641.1% | $431.0M+127.1% | -$1.6B-227.1% | $1.2B+201.8% | -$1.2B |
| Dividends Paid | $845.0M-0.1% | $846.0M-2.3% | $866.0M+3.1% | $840.0M+0.2% | $838.0M+0.1% | $837.0M-2.4% | $858.0M+2.1% | $840.0M |
| Share Buybacks | $0 | $0 | $0 | $0 | $0+100.0% | -$1.0M+66.7% | -$3.0M-100.1% | $3.0B |
CVS Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 2.0%+5.1pp | -3.1%-5.5pp | 2.4%-1.2pp | 3.6%+1.2pp | 2.4%+1.6pp | 0.9%-2.5pp | 3.3%+0.8pp | 2.6% |
| Net Margin | 2.8%+6.6pp | -3.9%-4.9pp | 1.0%-0.9pp | 1.9%+0.2pp | 1.7%+1.6pp | 0.1%-1.8pp | 1.9%+0.7pp | 1.3% |
| Return on Equity | 3.9% | N/A | 1.3%-1.0pp | 2.3%+0.1pp | 2.2%+2.1pp | 0.1%-2.2pp | 2.4%+0.9pp | 1.5% |
| Return on Assets | 1.2%+2.7pp | -1.6%-2.0pp | 0.4%-0.3pp | 0.7%+0.1pp | 0.7%+0.6pp | 0.0%-0.7pp | 0.7%+0.3pp | 0.4% |
| Current Ratio | 0.84+0.0 | 0.83+0.0 | 0.80-0.0 | 0.82+0.0 | 0.81+0.0 | 0.80-0.1 | 0.86+0.0 | 0.81 |
| Debt-to-Equity | 0.80-0.0 | 0.83+0.1 | 0.74-0.0 | 0.77-0.0 | 0.800.0 | 0.80-0.0 | 0.84+0.1 | 0.78 |
| FCF Margin | 2.5%+2.4pp | 0.1%-1.2pp | 1.3%-2.7pp | 4.0%+2.9pp | 1.1%+2.6pp | -1.5%-4.2pp | 2.7%-2.1pp | 4.8% |
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Cvs Health Corp's annual revenue?
Cvs Health Corp (CVS) reported $402K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cvs Health Corp's revenue growing?
Cvs Health Corp (CVS) revenue declined by 100% year-over-year, from $372.8B to $402K in fiscal year 2025.
Is Cvs Health Corp profitable?
Yes, Cvs Health Corp (CVS) reported a net income of $2K in fiscal year 2025, with a net profit margin of 0.4%.
What is Cvs Health Corp's earnings per share (EPS)?
Cvs Health Corp (CVS) reported diluted earnings per share of $1.39 for fiscal year 2025. This represents a -62.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Cvs Health Corp's EBITDA?
Cvs Health Corp (CVS) had EBITDA of $9K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cvs Health Corp have?
As of fiscal year 2025, Cvs Health Corp (CVS) had $8K in cash and equivalents against $61K in long-term debt.
What is Cvs Health Corp's operating margin?
Cvs Health Corp (CVS) had an operating margin of 1.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cvs Health Corp's net profit margin?
Cvs Health Corp (CVS) had a net profit margin of 0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Cvs Health Corp pay dividends?
Yes, Cvs Health Corp (CVS) paid $2.42 per share in dividends during fiscal year 2025.
What is Cvs Health Corp's return on equity (ROE)?
Cvs Health Corp (CVS) has a return on equity of 2.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cvs Health Corp's free cash flow?
Cvs Health Corp (CVS) generated $8K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cvs Health Corp's operating cash flow?
Cvs Health Corp (CVS) generated $11K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cvs Health Corp's total assets?
Cvs Health Corp (CVS) had $254K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cvs Health Corp's capital expenditures?
Cvs Health Corp (CVS) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Cvs Health Corp buy back shares?
Yes, Cvs Health Corp (CVS) spent $3K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Cvs Health Corp have outstanding?
Cvs Health Corp (CVS) had 1.27B shares outstanding as of fiscal year 2025.
What is Cvs Health Corp's current ratio?
Cvs Health Corp (CVS) had a current ratio of 0.84 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Cvs Health Corp's debt-to-equity ratio?
Cvs Health Corp (CVS) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cvs Health Corp's return on assets (ROA)?
Cvs Health Corp (CVS) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cvs Health Corp's Altman Z-Score?
Cvs Health Corp (CVS) has an Altman Z-Score of 336257.08, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cvs Health Corp's Piotroski F-Score?
Cvs Health Corp (CVS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cvs Health Corp's earnings high quality?
Cvs Health Corp (CVS) has an earnings quality ratio of 6.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cvs Health Corp cover its interest payments?
Cvs Health Corp (CVS) has an interest coverage ratio of 1.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cvs Health Corp?
Cvs Health Corp (CVS) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.