# CVS Health Corporation (CVS) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Healthcare / Health Care Providers & Services. Price $96.74, market value $123.7 billion.

## Valuation
- **P/E (trailing): 25.5×** (5-yr avg 23.6×, 3-yr avg 26.1×). CVS Health Corporation trades at 25.5× trailing earnings, close to its own five-year average of 23.6×. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 11.4×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 0.3×**. Each dollar of revenue is priced at 0.3×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.6×**. The shares trade at 1.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 9.0×**. Enterprise value is 9.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 9.5%** (5-yr avg 11.4%). Free cash flow equals 9.5% of the market value, in line with its five-year average of 11.4%. Above 5% is generally attractive.
- **Earnings yield: 3.9%**. The inverse of the P/E: 3.9% of the price is earned each year.

## Profitability
- **Operating margin: 2.0%**. 2.0% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 0.4%**. 0.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.4%**. 2.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 9.8%**. Return on all capital, debt included, is 9.8%.
- **Return on assets: 1.9%**. Each dollar of assets produces 1.9% of profit.

## Growth
- **Revenue growth (1 yr): 7.8%** (3-yr 7.6%/yr, 5-yr 8.4%/yr). Revenue grew 7.8% over the last year, against 8.4% a year compounded over five years.
- **EPS growth (1 yr): -62.0%** (3-yr -24.7%/yr, 5-yr -23.9%/yr). Earnings per share fell 62.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -16.6%/yr**. Free cash flow has compounded at -16.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. CVS Health Corporation holds more cash than debt.
- **Altman Z-score: 2.48**. A Z-score of 2.48 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.75%** ($2.66 per share, trailing). CVS Health Corporation yields 2.75%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 192%** (29% of free cash flow). The dividend exceeds earnings (192% payout), though free cash flow still covers it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 5.9%/yr** (1-yr 0.0%). The dividend has grown 5.9% a year over five years.

## Analyst view
- **Analyst consensus: strong_buy** (25 analysts). 25 analysts cover CVS Health Corporation; the consensus is strong_buy, with an average price target of $116.08 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 35.4%** (YTD 24.7%, 3-mo 1.5%). The shares are up 35.4% over twelve months including dividends.
- **From 52-week high: -12.6%** (39.2% above the low). Trading 13% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 0.13** (volatility 31%). Beta of 0.13 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CVS · Page: https://foliofundamentals.com/stocks/cvs

Not investment advice.