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CVS HEALTH Corp CVS

NYSE · stock · Retail-Drug Stores and Proprietary Stores · website · IPO 1952-10-01 · LEI

CVS HEALTH Corp statistics & valuation

Market cap$133.1B
P / E75.3×
P / S0.3×
P / B1.8×
P / FCF17.1×
Net margin0.4%
FCF margin1.9%
Return on capital2.8%
Graham number -54.5%$43.07

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($43.07); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.00% 3.60% -0.30% 2.60% 2.70% 2.70% 1.30% 2.30% 1.20% 0.40% 2016201720182019202020212022202320242025
Gross margin (%)
16.30% 15.40% 2016201720182019202020212022202320242025
Operating margin (%)
5.80% 5.20% 2.10% 4.70% 5.20% 4.60% 2.50% 3.80% 2.30% 1.20% 2016201720182019202020212022202320242025
Return on equity (%)
14.40% 17.60% -1.00% 10.30% 10.30% 10.70% 6.00% 10.90% 6.10% 2.30% 2016201720182019202020212022202320242025
Shares outstanding
1.08B 1.02B 1.29B 1.30B 1.31B 1.33B 1.32B 1.29B 1.26B 1.27B 2016201720182019202020212022202320242025
Net debt ($)
$22.33B $25.31B $69.37B $59.02B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.60% 7.00% -0.30% 3.00% 3.10% 3.40% 1.90% 3.30% 1.80% 0.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
4.50% 3.30% 3.50% 4.00% 5.00% 5.40% 4.20% 2.90% 1.70% 1.90% 2016201720182019202020212022202320242025
Debt / equity (×)
0.70× 0.72× 1.25× 1.01× 2016201720182019202020212022202320242025
EPS ($)
$4.90 $6.44 -$0.57 $5.08 $5.46 $6.02 $3.26 $6.47 $3.66 $1.39 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CVS HEALTH Corp trades at about 68.1× earnings — above its 10-year norm (10-year range 11.5×–53.6×, median 16.1×).

11.5× 68.1×

Shaded band = 10-year range (11.5×–53.6×); dot = today's 68.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin15.4%16.3%
Operating margin1.2%2.3%3.8%2.5%4.6%5.2%4.7%2.1%5.2%5.8%
Net margin0.4%1.2%2.3%1.3%2.7%2.7%2.6%-0.3%3.6%3.0%
FCF margin1.9%1.7%2.9%4.2%5.4%5.0%4.0%3.5%3.3%4.5%
Return on assets0.7%1.8%3.3%1.9%3.4%3.1%3.0%-0.3%7.0%5.6%
Return on equity2.3%6.1%10.9%6.0%10.7%10.3%10.3%-1.0%17.6%14.4%
Debt / equity1.01×1.25×0.72×0.70×
Current ratio0.840.810.860.950.880.910.941.031.021.18

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.