CVS
CVS HEALTH Corp
Consumer Discretionary • CIK 0000064803
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Market Cap
$89.04B
P/E (TTM)
30.4x
Rev Growth (TTM)
+7.6%
Net Margin (TTM)
0.7%
FCF Yield (TTM)
8.3%
FCF Margin (TTM)
1.8%
Filings your agent reads
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
10-QQ1 20262026-05-06source
8-KEarnings2026-05-06source
8-KMar 20262026-03-19source
10-KFY 20252026-02-10source
8-KEarnings2026-02-10source
Point your agent at CVS and it navigates these the same way — citing each number back to the filing.
Cash Flow Health
Free Cash Flow7/8 positive
TTM$7.4B
Q1 '26
$3.4B+30%
Q4 '25
$2.6B+2559%
FCF Margin
TTM1.8%
Q1 '263.4%+37%
Sector: 2.3%Below Avg
OCF Margin2.5%
OCF/NI3.52x
CapEx Coverage3.5x
FCF Yield8.3%
FCF Growth (2Y)-25%
Cash Conversion Cycle
66 days
DSO: 37+DIO: 30−DPO: 0
Capital Allocation & Returns
Balanced
Total Shareholder Yield
TTM3.8%
Div Yield3.8%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)3.8%
FCF Payout Ratio45.7%
Free Cash Flow (TTM)$7.4B
Stock Repurchases ()$0
Capital Return / FCF46.0%
Est. Dividends Paid (TTM)$3.4B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
3.6%
Moderate
-0.0% YoY+0.4%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
1.2%
8Q: 2.1%
Asset Turnover
1.60x
8Q: 1.54x
Leverage (1+D/E)
1.81x
D/E: 0.81x
DuPont: 3.6% ≈ 3.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
31.56x
8Q:30.57x
+340.1%
Invested Cap Turn
3.23x
8Q:3.02x
+61.9%
CapEx Intensity
2.3%
8Q:2.2%
CapEx/Depreciation
0.64x
Asset-based ROIC formula
Valuation Analysis
Fair Value
Price-to-EarningsTTM
30.4x
Volatile
8Q: 38.2x-37828%
High PEG ratio (4.0x) suggests expensive for growth
Valuation Lenses
Earnings
30.4x
vs – sector
Cash Flow
19.2x
EV/FCF vs –
Growth-Adj
4.0xPEG
Expensive for growth
Quality-Adj
8.5P/E per %ROIC
ROIC: 3.6%
Shareholder Returns
Dividend
3.8%
Buyback
–
Total Yield
3.8%
Market Cap$89.04B
EV$142.19B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
58/100
Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
3.9%
8Q:–
Return on Invested Capital (ROIC)Top 25%
3.6%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 1.2%
Asset Turnover: 1.60x
Earnings Quality
Cash Conversion
3.52x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin44.7%
Capital Efficiency
Invested Capital Turnover3.23x
Working Capital
Cash Conversion Cycle66 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
48/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
7.6%
OpInc Growth YoY
38.7%
EPS Growth YoY
-45.1%
FCF 3Y CAGR
-24.8%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 32.4%
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
44.7%
Operating
1.5%
Below Avg in sector
Net
0.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+1.1 pts
FCF: 1.8% | Net: 0.7%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $51.31B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.81x
Balance sheet risk & solvency analysis