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CVS

CVS Health Corp

US$85.20-0.57% (-US$0.49)
Day's range
US$84.23 – US$86.26
Day's volume
US$267.1m
52-week range
US$69.04 – US$109.92

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See how CVS weighs in your net worth, what it has paid you and how far it is from your target allocation.

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CVS in numbers

Market cap
US$108.8bn
P/E
22.28
P/B
1.37
Dividend yield (12m)
3.12%

The 12-month dividend yield of CVS is 3.12%, below its 5-year average of 3.33%.

CVS price history

02/10/202501/10/2026
Compare with

CVS risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+11.45%+37.12%+11.88%
Volatility (annualised)31.80%36.92%31.97%
Largest drawdown-18.56%-41.89%-53.90%
Positive months7/1219/3628/60

How much did investing in CVS return?

US$1,000.00 invested on 01/10/2021 would be worth US$1,119.95 today.

Value today in CVS
US$1,119.95
Return over the period
+11.99%
Return per year
+2.29%
In the S&P 500
US$1,664.67

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

CVS fundamentals

Valuation

  • P/E
    22.28
  • P/B
    1.37
  • EV/EBITDA
    8.49
  • EV/EBIT
    13.12
  • EV/Revenue
    0.26
  • P/EBIT
    13.12
  • P/S
    0.26
  • P/OCF
    7.36
  • P/FCF
    9.25
  • Earnings yield
    7.62%
  • PEG ratio
    —
  • Earnings per share
    US$3.82
  • Book value per share
    US$62.32

Debt

  • Net debt
    —
  • Net debt/EBITDA
    —
  • Net debt/Equity
    —
  • Debt/Equity
    —
  • Current ratio
    0.87
  • Quick ratio
    0.66
  • Cash ratio
    0.16

Efficiency

  • Gross margin
    44.49%
  • EBITDA margin
    3.09%
  • Operating margin
    2.00%
  • Net margin
    1.18%
  • Asset turnover
    1.64

Profitability

  • ROE
    6.14%
  • ROA
    1.93%
  • ROIC
    8.78%
  • Payout
    69.57%

Growth

  • Revenue CAGR (5 years)
    8.32%
  • Earnings CAGR (5 years)
    -7.45%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is CVS's fair price?

Two classic value formulas, with today's numbers. The current price is US$85.20.

Graham's fair price
US$73.22
14.06% below the price

√(22.50 × US$3.82 × US$62.32)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$39.80
53.29% below the price

US$2.39 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

CVS indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E57.1112.2711.9127.7616.9212.4814.60-143.07
P/B1.340.751.301.671.821.291.521.46
EV/EBITDA9.753.804.888.547.614.299.6222.53
Dividend yield3.35%5.93%3.06%2.36%1.94%2.93%2.69%3.05%
Earnings per shareUS$1.39US$3.66US$6.63US$3.36US$6.10US$5.47US$5.09-US$0.46
Book value per shareUS$59.12US$59.93US$60.76US$55.66US$56.79US$52.91US$48.97US$44.89
ROE2.35%6.11%10.91%6.03%10.73%10.35%10.39%-1.02%
ROIC5.83%9.23%15.74%10.58%13.54%17.52%7.11%0.00%
Gross margin44.99%44.67%39.32%38.94%39.82%38.97%38.19%19.32%
EBITDA margin2.30%3.52%5.06%3.78%6.09%6.83%6.37%3.48%
Net margin0.44%1.24%2.33%1.34%2.74%2.67%2.58%-0.31%
Net debt/EBITDA-1.14-0.52-0.61-1.29—-0.593.699.92

CVS financial statements

Line202520242023202220212020
Net revenueUS$402.1bnUS$372.8bnUS$357.8bnUS$322.5bnUS$292.1bnUS$268.7bn
Cost of sales-US$221.2bn-US$206.3bn-US$217.1bn-US$196.9bn-US$175.8bn-US$164bn
Gross profitUS$180.9bnUS$166.5bnUS$140.7bnUS$125.6bnUS$116.3bnUS$104.7bn
EBITDAUS$9.3bnUS$13.1bnUS$18.1bnUS$12.2bnUS$17.8bnUS$18.4bn
EBITUS$4.7bnUS$8.5bnUS$13.7bnUS$8bnUS$13.3bnUS$13.9bn
Net finance result——————
Profit before taxUS$2.1bnUS$6.1bnUS$11.2bnUS$5.8bnUS$10.5bnUS$9.8bn
Income tax-US$408m-US$1.6bn-US$2.8bn-US$1.5bn-US$2.5bn-US$2.6bn
Net incomeUS$1.8bnUS$4.6bnUS$8.3bnUS$4.3bnUS$8bnUS$7.2bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does CVS pay dividends?

Dividend yield per year

  • 2.76%2017
  • 3.05%2018
  • 2.69%2019
  • 2.93%2020
  • 1.94%2021
  • 2.36%2022
  • 3.06%2023
  • 5.93%2024
  • 3.35%2025
  • 2.35%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend22/07/202603/08/2026US$0.67
Dividend22/04/202604/05/2026US$0.67
Dividend21/01/202602/02/2026US$0.67
Dividend22/10/202503/11/2025US$0.67
Dividend21/07/202501/08/2025US$0.67
Dividend21/04/202501/05/2025US$0.67
Dividend22/01/202503/02/2025US$0.67
Dividend18/10/202401/11/2024US$0.67
Dividend19/07/202401/08/2024US$0.67
Dividend18/04/202401/05/2024US$0.67
Dividend18/01/202401/02/2024US$0.67
Dividend18/10/202301/11/2023US$0.61
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend19/07/202301/08/2023US$0.61
Dividend19/04/202301/05/2023US$0.61
Dividend18/01/202301/02/2023US$0.61
Dividend19/10/202201/11/2022US$0.55
Dividend20/07/202201/08/2022US$0.55
Dividend20/04/202202/05/2022US$0.55
Dividend19/01/202201/02/2022US$0.55
Dividend20/10/202101/11/2021US$0.50
Dividend21/07/202102/08/2021US$0.50
Dividend21/04/202103/05/2021US$0.50
Dividend20/01/202101/02/2021US$0.50
Dividend20/10/202002/11/2020US$0.50
Dividend21/07/202003/08/2020US$0.50
Dividend21/04/202004/05/2020US$0.50
Dividend21/01/202003/02/2020US$0.50
Dividend22/10/201904/11/2019US$0.50
Dividend23/07/201902/08/2019US$0.50
Dividend19/04/201903/05/2019US$0.50
Dividend23/01/201904/02/2019US$0.50
Dividend22/10/201801/11/2018US$0.50
Dividend23/07/201801/08/2018US$0.50
Dividend19/04/201803/05/2018US$0.50
Dividend22/01/201802/02/2018US$0.50
Dividend20/10/201703/11/2017US$0.50
Dividend19/07/201703/08/2017US$0.50
Dividend18/04/201701/05/2017US$0.50
Dividend19/01/201702/02/2017US$0.50
Dividend19/10/201603/11/2016US$0.43

About Cvs Health

Sector
Retail

Questions about CVS

How much is CVS today?

CVS is at US$85.20 (-0.57% on the day), last traded on 01/10/2026.

How much did CVS pay in dividends in 2025?

CVS paid US$2.66 per share in 2025, a dividend yield of 3.35%.

What are the P/E and P/B of CVS?

CVS trades at a P/E of 22.28 and a P/B of 1.37.

How much did CVS return in 12 months?

CVS returned 11.45% in 12 months, with annualised volatility of 31.80% and a largest drawdown of -18.56%.