CVS Health
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
10.689.187.276.86
Price/Sales ratio
0.240.220.210.20
Earnings per Share (EPS)
$6.63$7.70$9.73$10.32

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
24.0720.8715.9211.16-115.1514.5612.4517.0028.3612.1611.16-115.15
Price/Sales ratio
0.800.710.470.400.350.370.330.460.370.280.150.37
Price/Book Value ratio
2.942.932.291.961.171.511.281.811.711.320.741.51
Price/Cash Flow ratio
13.7412.808.349.237.717.525.637.447.557.5512.147.71
Price/Free Cash Flow ratio
18.6317.7110.6912.1410.019.306.658.649.099.7633.1810.01
Price/Earnings Growth ratio
4.321.222.740.351.05-0.011.671.79-0.620.12-13.03-0.01
Dividend Yield
1.15%1.44%2.17%2.77%2.97%2.69%2.93%1.92%2.37%3.08%5.97%2.97%
Profitability Indicator Ratios
Gross Profit Margin
18.20%17.30%16.24%15.43%16.20%17.73%18.25%17.84%16.90%15.21%14.19%17.73%
Operating Profit Margin
6.31%6.18%5.84%5.16%2.06%4.66%5.17%4.55%2.46%3.84%2.58%2.06%
Pretax Profit Margin
5.50%5.62%4.86%4.47%0.72%3.50%3.63%3.60%1.80%3.12%1.82%0.72%
Net Profit Margin
3.33%3.41%2.99%3.58%-0.30%2.58%2.67%2.73%1.33%2.33%1.35%-0.30%
Effective Tax Rate
39.50%39.29%38.40%19.79%142.38%26.29%26.29%24.18%25.85%25.10%25.52%26.29%
Return on Assets
6.25%5.66%5.62%6.96%-0.30%2.98%3.11%3.43%1.88%3.34%1.98%-0.30%
Return On Equity
12.23%14.07%14.43%17.56%-1.02%10.38%10.34%10.65%6.03%10.91%6.68%-1.02%
Return on Capital Employed
15.95%13.67%15.22%14.79%2.63%7.08%8.24%8.05%5.00%8.05%5.67%2.63%
Liquidity Ratios
Current Ratio
1.361.311.181.011.020.940.90N/AN/AN/A0.790.94
Quick Ratio
0.730.650.620.510.650.610.610.620.670.620.580.61
Cash ratio
0.130.100.120.050.090.100.120.130.180.100.080.10
Days of Sales Outstanding
25.3728.3025.0026.0333.0727.8829.5330.5230.8735.9335.7933.07
Days of Inventory outstanding
38.1940.3136.2235.7236.8230.2630.7327.0126.0021.6820.3530.26
Operating Cycle
63.5668.6261.2361.7669.8958.1460.2657.5356.8757.6256.1458.14
Days of Payables Outstanding
20.9621.5619.5020.7019.9818.1218.5019.0720.2117.9218.1118.12
Cash Conversion Cycle
42.6047.0541.7341.0649.9140.0241.7538.4636.6639.7038.0240.02
Debt Ratios
Debt Ratio
0.170.290.290.280.370.300.280.240.220.240.250.30
Debt Equity Ratio
0.330.730.740.711.261.070.930.740.730.800.871.07
Long-term Debt to Capitalization
0.230.410.410.370.550.500.460.400.410.430.440.50
Total Debt to Capitalization
0.250.420.420.410.550.510.480.420.420.440.460.51
Interest Coverage Ratio
14.3011.009.588.963.883.944.78N/AN/AN/A3.293.94
Cash Flow to Debt Ratio
0.630.310.360.290.120.180.240.320.300.210.070.18
Company Equity Multiplier
1.952.482.562.523.373.483.323.103.193.263.363.48
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.050.050.050.040.040.050.050.060.050.030.010.05
Free Cash Flow / Operating Cash Flow Ratio
0.730.720.780.760.770.800.840.860.830.770.360.80
Cash Flow Coverage Ratio
0.630.310.360.290.120.180.240.320.300.210.070.18
Short Term Coverage Ratio
6.457.135.291.664.463.392.914.349.094.510.803.39
Dividend Payout Ratio
27.73%30.09%34.60%30.94%-343.09%39.23%36.55%32.80%67.43%37.53%66.06%-343.09%