CVS Health Corp Stock Research

Market Summary

USD73.18-1.23

Market Closed

-1.65%

CVS Alerts

Big jump in Earnings (Y/Y)

CVS Stock Price

CVS RSI Chart

CVS Valuation

Market Cap

95.1B

Price/Earnings (Trailing)

22.93

Price/Sales (Trailing)

0.3

EV/EBITDA

10.91

Price/Free Cashflow

7.07

CVS Price/Sales (Trailing)

CVS Profitability

EBT Margin

1.75%

Return on Equity

5.84%

Return on Assets

1.82%

Free Cashflow Yield

14.14%

CVS Fundamentals

CVS Revenue

Revenue (TTM)

322.5B

Revenue Y/Y

9.45%

Revenue Q/Q

3.31%

CVS Earnings

Earnings (TTM)

4.1B

Earnings Y/Y

76.26%

Earnings Q/Q

167.39%

Price Action

52 Week Range

73.17107.03

(Low)(High)

Last 7 days

-5.5%

Last 30 days

-16.1%

Last 90 days

-22.7%

Trailing 12 Months

-28.3%

CVS Financial Health

Current Ratio

0.94

Debt/Equity

0.71

Debt/Cashflow

0.32

CVS Investor Care

Dividend Yield

3.01%

Dividend/Share (TTM)

2.2

Buy Backs (1Y)

1.66%

Diluted EPS (TTM)

3.14

Peers (Alternatives to CVS Health)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
UNH	441.5B	324.2B	-6.04%	-5.61%	21.94	1.36	12.71%	16.40%
CVS	95.1B	322.5B	-16.10%	-28.31%	22.93	0.3	10.39%	-47.55%
CI	91.1B	180.5B	-9.45%	16.50%	13.64	1.92	3.70%	24.58%
HUM	62.6B	92.9B	-3.60%	10.39%	22.3	0.67	11.81%	-4.33%
CNC	34.4B	144.5B	-13.05%	-25.78%	28.66	0.24	14.74%	-10.76%
MID-CAP
OPCH	5.6B	3.9B	7.58%	19.99%	37.42	1.43	14.72%	7.62%
LHCG	5.2B	2.3B	3.17%	35.63%	86.23	2.28	2.85%	-58.05%
HQY	4.9B	831.2M	-11.67%	3.11%	-82.63	5.84	12.11%	-862.52%
CVET	2.9B	4.6B	0.72%	13.28%	-225.79	0.63	2.45%	84.88%
PDCO	2.6B	6.4B	-14.06%	-14.67%	13.12	0.4	-0.52%	17.01%
SMALL-CAP
TVTY	1.6B	-	0.59%	17.88%	18.77	3.24	-	-
ADUS	1.6B	951.1M	-7.28%	30.41%	35.03	1.7	10.02%	1.99%
RDNT	1.2B	1.4B	12.22%	10.36%	115.9	0.86	8.74%	-56.93%
BKD	449.4M	2.8B	-3.12%	-59.80%	-1.88	0.16	2.43%	-140.13%
JYNT	242.8M	96.2M	2.80%	-48.48%	898.97	2.52	26.92%	-98.46%

Financials for CVS Health

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	2.3%	322,467	315,225	307,860	299,840	292,111
Operating Expenses	1.6%	38,094	37,490	-	-	-
EBITDA	13.2%	12,162	10,745	17,460	17,269	-
EBITDA Margin	10.6%	0.04*	0.03*	0.06*	0.06*	-
Earnings Before Taxes	37.6%	5,628	4,089	10,690	10,396	10,420
EBT Margin	34.5%	0.02*	0.01*	0.03*	0.03*	-
Interest Expenses	-2.4%	2,287	2,343	2,379	2,432	2,503
Net Income	31.1%	4,149	3,164	8,178	8,008	7,910
Net Income Margin	28.2%	0.01*	0.01*	0.03*	0.03*	-
Free Cahsflow	-31.0%	13,450	19,498	15,868	16,194	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-1.3%	228,275	231,212	230,279	232,873	232,999
Current Assets	-3.9%	65,682	68,341	62,142	61,483	60,008
Cash Equivalents	-24.7%	12,945	17,197	12,116	8,442	9,408
Inventory	5.7%	19,090	18,058	17,375	18,160	17,760
Net PPE	2.0%	12,873	12,626	12,764	12,844	12,896
Goodwill	0.1%	78,150	78,086	78,560	79,060	79,121
Liabilities	-2.0%	156,960	160,201	154,773	158,733	157,618
Current Liabilities	-3.7%	69,736	72,409	68,457	69,780	67,807
Long Term Debt	-0.7%	50,476	50,848	50,797	52,063	51,971
Shareholder's Equity	0.5%	71,015	70,683	75,506	74,140	75,075
Retained Earnings	2.9%	56,145	54,571	58,710	56,488	54,906
Accumulated Depreciation	-	20,654	-	-	-	-
Shares Outstanding	-1.1%	1,300	1,315	1,312	1,306	1,322
Minority Interest	-8.5%	300	328	322	310	306

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-26.9%	16,177	22,134	18,532	18,936	18,265
Share Based Compensation	-6.7%	447	479	488	486	484
Cashflow From Investing	20.7%	-5,047	-6,368	-6,410	-5,387	-5,261
Cashflow From Financing	6.5%	-10,516	-11,243	-9,955	-10,821	-11,356
Dividend Payments	2.1%	2,907	2,848	2,781	2,691	2,625
Buy Backs	75.0%	3,500	2,000	2,000	2,000	0.00

Risks for CVS

What is the probability of a big loss on CVS?

58.1%

Probability that CVS Health stock will be more than 20% underwater in next one year

14.2%

Probability that CVS Health stock will be more than 30% underwater in next one year.

Probability that CVS Health stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CVS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if CVS Health was unfortunately bought at previous high price.

Drawdowns

Returns for CVS

Cumulative Returns on CVS

5.8%

10-Year Cumulative Returns

-1.6%

7-Year Cumulative Returns

5.6%

5-Year Cumulative Returns

10.8%

3-Year Cumulative Returns

What are the long-term rolling returns for CVS?

FIve years rolling returns for CVS Health.

Annualized Returns

Which funds bought or sold CVS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	3.06	55,130	8,103,130	0.23%
2023-03-13	Claro Advisors LLC	added	18.81	216,324	1,327,320	0.43%
2023-03-10	MATHER GROUP, LLC.	reduced	-3.66	-63,602	1,016,400	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-5.03	-8,247,480	106,282,000	0.12%
2023-03-08	Capital Asset Advisory Services LLC	reduced	-7.88	-127,522	1,373,480	0.11%
2023-03-08	SHEETS SMITH WEALTH MANAGEMENT	reduced	-2.76	-61,984	1,191,020	0.19%
2023-03-07	Great Lakes Retirement, Inc.	new	-	648,748	648,748	0.17%
2023-03-06	Rockefeller Capital Management L.P.	added	5.11	1,905,000	72,371,000	0.36%
2023-03-03	TIAA, FSB	added	10.8	411,003	5,382,000	0.02%
2023-03-03	Crumly & Associates Inc.	reduced	-5.02	-46,050	591,950	0.22%

Latest Funds Activity

Are funds buying CVS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CVS

No. of Funds

CVS Alerts

Big jump in Earnings (Y/Y)

CVS Health News

Schedule 13G FIlings of CVS Health

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.94%	117,533,372	SC 13G/A
Feb 07, 2023	blackrock inc.	7.4%	96,668,258	SC 13G/A
Feb 09, 2022	vanguard group inc	8.28%	109,236,922	SC 13G/A
Feb 01, 2022	blackrock inc.	7.1%	93,556,500	SC 13G/A
Feb 10, 2021	vanguard group inc	8.05%	105,383,923	SC 13G/A
Jan 29, 2021	blackrock inc.	7.1%	92,478,369	SC 13G/A
Feb 12, 2020	vanguard group inc	8.05%	104,808,202	SC 13G/A
Feb 05, 2020	blackrock inc.	7.2%	94,158,010	SC 13G/A

CVS Fair Value

CVS Health fair value in different scenarios

The table shows the Fair Value estimates for CVS Health for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	123.17 68.31%	150.44 105.58%	201.10 174.80%	258.39 253.09%	323.05 341.45%
Current Inflation	113.28 54.80%	136.37 86.35%	178.69 144.18%	226.45 209.44%	280.46 283.25%
Very High Inflation	101.12 38.18%	119.41 63.17%	152.32 108.14%	189.45 158.88%	231.59 216.47%

Historical CVS Health Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of CVS Health

View All Filings

Date Filed	Form Type	Document
Mar 07, 2023	DFAN14A	DFAN14A
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Feb 21, 2023	8-K	Current Report
Feb 15, 2023	3	Insider Trading

Latest Insider Trading transactions for CVS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-28	Clark James David	sold (taxes)	-14,953	83.54	-179	svp, cont & chief acct officer
2023-02-28	Chaguturu Sreekanth K	sold (taxes)	-10,024	83.54	-120	evp and chief medical officer
2023-02-28	Khichi Samrat S.	acquired	3,999,980	83.54	47,881	evp, cpo and general counsel
2023-02-28	Joyner J. David	acquired	1,999,950	83.54	23,940	evp&president-pharmacyservices
2023-02-27	Chaguturu Sreekanth K	sold (taxes)	-27,274	85.77	-318	evp and chief medical officer
2023-02-27	Havanec Laurie P.	sold (taxes)	-347,025	85.77	-4,046	evp and chief people officer
2023-02-27	Shah Prem S	sold (taxes)	-19,384	85.77	-226	evp and co-president of retail
2023-02-27	PELUSO MICHELLE A	sold (taxes)	-1,055,310	85.77	-12,304	evp and co-president of retail
2023-02-02	PELUSO MICHELLE A	acquired	-	-	192,554	evp and co-president of retail
2023-02-02	Lynch Karen S	acquired	-	-	206,610	president and ceo

About CVS Health

Karen S. Lynch

www.cvshealth.com

65535

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related 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. Its Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals. This segment operates retail specialty pharmacy stores; and specialty mail-order, mail-order dispensing, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company's Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. As of December 31, 2021, it operated approximately 9,900 retail locations and 1,200 MinuteClinic locations, as well as online retail pharmacy websites, LTC pharmacies, and onsite pharmacies. 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.

CVS Income Statement

2022-09-30

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Premiums	$ 21,003	$ 18,984	$ 63,894	$ 56,927
Net investment income	201	246	515	832
Total revenues	81,159	73,794	238,621	215,507
Operating costs:
Cost of products sold	50,365	45,011	145,164	129,425
Benefit costs	17,419	16,081	52,976	47,686
Opioid litigation charges	5,220	0	5,704	0
Loss on assets held for sale	2,480	0	2,521	0
Goodwill impairment	0	431	0	431
Operating expenses	9,606	9,210	28,128	27,001
Total operating costs	85,090	70,733	234,493	204,543
Operating income (loss)	(3,931)	3,061	4,128	10,964
Interest expense	566	602	1,735	1,895
Loss on early extinguishment of debt	0	363	0	363
Other income	(41)	(49)	(126)	(144)
Income (loss) before income tax provision	(4,456)	2,145	2,519	8,850
Income tax provision (benefit)	(1,047)	558	654	2,248
Net income (loss)	(3,409)	1,587	1,865	6,602
Net (income) loss attributable to noncontrolling interests	(7)	11	(18)	2
Net income (loss) attributable to CVS Health	$ (3,416)	$ 1,598	$ 1,847	$ 6,604
Net income (loss) per share attributable to CVS Health:
Basic (in dollars per share)	$ (2.60)	$ 1.21	$ 1.41	$ 5.01
Diluted (in dollars per share)	$ (2.60)	$ 1.20	$ 1.40	$ 4.98
Weighted average shares outstanding:
Basic (in shares)	1,315	1,321	1,313	1,318
Diluted (in shares)	1,315	1,329	1,324	1,326
Dividends declared per share (in dollars per share)	$ 0.55	$ 0.50	$ 1.65	$ 1.50
Cost, Product and Service [Extensible List]	Products	Products	Products	Products
Products
Revenues:
Revenues	$ 57,643	$ 51,853	$ 166,959	$ 149,765
Services
Revenues:
Revenues	$ 2,312	$ 2,711	$ 7,253	$ 7,983

CVS Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 17,197	$ 9,408
Investments	2,792	3,117
Accounts receivable, net	26,317	24,431
Inventories	18,058	17,760
Assets held for sale	1,498	0
Other current assets	2,479	5,292
Total current assets	68,341	60,008
Long-term investments	20,565	23,025
Property and equipment, net	12,626	12,896
Operating lease right-of-use assets	18,270	19,122
Goodwill	78,086	79,121
Intangible assets, net	25,157	29,026
Separate accounts assets	3,318	5,087
Other assets	4,849	4,714
Total assets	231,212	232,999
Liabilities:
Accounts payable	13,925	12,544
Pharmacy claims and discounts payable	19,161	17,330
Health care costs payable	10,351	8,808
Policyholders’ funds	1,642	4,301
Accrued expenses	19,423	17,670
Other insurance liabilities	4,561	1,303
Current portion of operating lease liabilities	1,687	1,646
Current portion of long-term debt	1,363	4,205
Liabilities held for sale	296	0
Total current liabilities	72,409	67,807
Long-term operating lease liabilities	17,174	18,177
Long-term debt	50,848	51,971
Deferred income taxes	3,508	6,270
Separate accounts liabilities	3,318	5,087
Other long-term insurance liabilities	6,175	6,402
Other long-term liabilities	6,769	1,904
Total liabilities	160,201	157,618
Shareholders’ equity:
Preferred stock, par value $0.01: 0.1 shares authorized; none issued or outstanding	0	0
Common stock, par value $0.01: 3,200 shares authorized; 1,757 shares issued and 1,315 shares outstanding at September 30, 2022 and 1,744 shares issued and 1,322 shares outstanding at December 31, 2021 and capital surplus	48,047	47,377
Treasury stock, at cost: 442 shares at September 30, 2022 and 422 shares at December 31, 2021	(30,326)	(28,173)
Retained earnings	54,571	54,906
Accumulated other comprehensive income (loss)	(1,609)	965
Total CVS Health shareholders’ equity	70,683	75,075
Noncontrolling interests	328	306
Total shareholders’ equity	71,011	75,381
Total liabilities and shareholders’ equity	$ 231,212	$ 232,999