CVS Health (CVS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

CVS Health

NYSE•Healthcare•Healthcare Plans

$90.27-1.45(-0.02%)Pre-market

Market Cap

$115.46B

P/E

23.6x

P/S

0.3x

P/B

1.4x

CVS Health Corporation provides health solutions in the United States. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilities; Medicare Advantage and Medicare Supplement plans; prescription drug plans (PDPs); and Medicaid health care management services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Health Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, specialty and mail-order pharmacy, clinical services, disease management, medical spend management services, and pharmacy and other administrative services. It serves employers, insurance companies, unions, government employee groups, health plans, PDPs, Medicaid managed care plans, CMS, plans offered on public health insurance exchanges, and other sponsors of health benefit plans. The Pharmacy & Consumer Wellness segment sells prescription and over-the-counter drugs, consumer health and beauty products, personal care products, and other general merchandise products. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. It operates online retail pharmacy websites, retail specialty pharmacy stores, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.

How this company scores

GoodMetricSide Score: 63/100

Strongest: Cash & Earnings Quality (24/25); weakest: Profitability (7/25).

Profitability7/25

Growth18/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality24/25

Strengths

Rising free cash flowCash-backed earningsConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.6x5y range 10.3x – 204.5x

Currently above its 20-quarter median.

P/S · 0.3x5y range 0.1x – 0.5x

Currently near its 20-quarter median.

P/B · 1.4x5y range 0.7x – 1.8x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 14.0% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $115.46B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $415.09B
Q. Revenue: $106.10B
TTM EBITDA: $12.81B
TTM Op. Income: $8.29B
Q. Op. Income: $4.70B
TTM Net Income: $4.89B
Q. Net Income: $2.98B
EPS: $2.33
Shares Out.: $1.28B

$415.09B in TTM revenue grew 7.4% YoY, reaching $106.10B last quarter. TTM EBITDA of $12.81B and TTM operating income of $8.29B show growth is flowing through to the bottom line. TTM net income of $4.89B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 44.5%
EBITDA Margin: 5.5%
Op. Margin: 4.4%
Net Margin: 2.8%

Op. margin of 4.4% is up 2.0% YoY — cost efficiency is improving. Net margin at 2.8% and gross margin of 44.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 84% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 23.6x
P/S Ratio: 0.3x
P/B Ratio: 1.4x

At 23.6x P/E, the stock trades within typical market levels. P/S of 0.3x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $253.77B
Cash: $11.33B
Long-Term Debt: $59.45B
Book Value: $79.70B
D/E Ratio: 0.7
Debt/EBITDA: 10.2

With $253.77B in assets and $59.45B in long-term debt, D/E is 0.7and book value is $79.70B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $6.34B
TTM Free Cash Flow: $11.76B
FCF Margin: 2.8%
FCF / Net Income: 2.4

TTM FCF of $11.76B on $6.34B in operating cash flow. The FCF / Net Income ratio of 2.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 146% — an improving trend.