{ "ok": true, "cik": "64803", "ticker": "CVS", "name": "CVS HEALTH CORPORATION", "filings": [ { "form": "8-K", "filed": "2026-08-17", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/64803/000119312526354096/0001193125-26-354096-index.htm" }, { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/64803/000006480326000098/0000064803-26-000098-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/64803/000006480326000097/0000064803-26-000097-index.htm" }, { "form": "8-K", "filed": "2026-05-18", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/64803/000006480326000082/0000064803-26-000082-index.htm" }, { "form": "10-Q", "filed": "2026-05-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/64803/000006480326000052/0000064803-26-000052-index.htm" }, { "form": "8-K", "filed": "2026-05-06", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/64803/000006480326000051/0000064803-26-000051-index.htm" } ], "events12m": 9, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-17", "url": "https://www.sec.gov/Archives/edgar/data/64803/000119312526354096/0001193125-26-354096-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000064803.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=64803" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up CVS HEALTH CORPORATION ($CVS). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-17. 9 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 402067000000, "revenueGrowth1y": 0.07847986502471782, "revenueGrowthPerYear": 0.08314756942627577, "yearsOfData": 5, "operatingMargin": 0.011590108116308973, "operatingMarginPrior": 0.022842796177130916, "netMargin": 0.004397277070736966, "operatingCashFlow": 10639000000, "capitalSpending": 2832000000, "freeCashFlow": 7807000000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 8453000000, "longTermDebt": 64570000000, "longTermDebtChange": 0.00653146482517819, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 292111000000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 322467000000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 357776000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 372809000000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 402067000000 } ], "totalEquity": 75214000000, "totalAssets": 253538000000, "equityRatio": 0.29665770022639604, "returnOnEquity": 0.023506262132049885, "dividendsPaid": 3397000000, "payoutRatio": 1.9213800904977376, "dividendPerShare": 2.66, "dividendYearsRising": 0, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 1.4, "sharesOutstanding": 1271000000, "bookValuePerShare": 59.17702596380803, "revenuePerShare": 316.33910306845, "range80": { "low": 390932295698.59766, "high": 449418153612.05444, "baseline": 433185118759.59625, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.028611179126127994, "classVolatility": 0.06659579566308972, "volatility": 0.051252314928144374 }, "ifPaceHeld": { "low": 390932295698.59766, "high": 449418153612.05444 } }, "edgarette": "🔖 Exposure: revenue $402.1B (FY2025), total debt $64.6B. Experience: revenue up 7.8% on the year, up 8.3% a year over 4 years; operating margin 1.2%, down from 2.3%. Soundness: equity 29.7% of assets, return on equity 2.4%, payout 192.1% of profit. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $390.9B and $449.4B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $367.7B to $475.2B. A statistical range, not company guidance. Against peers (57 filers, $50M+ revenue, its industry group): operating margin 1.2% against a 0.6% median; growth 7.8% against 4.1%.", "peers": { "sic": 5912, "sicDescription": "Retail-Drug Stores and Proprietary Stores", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "59", "growth": [ 0.0413, 57 ], "opMargin": [ 0.0057, 57 ], "equityRatio": [ 0.2951, 52 ], "returnOnEquity": [ 0.0257, 40 ], "payoutRatio": [ 0.2479, 13 ] }, "summary": "Cvs Health (CVS) grew revenue 7.8% in FY2025 to $402.1 billion, operating margin 1.2% against a 0.6% median for retail-drug stores and proprietary stores, equity 29.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
CVS HEALTH CORPORATION against its own record and its peers
Operating marginPeer median 0.6%1.2%Revenue, on the yearPeer median 4.1%7.8%Equity of assetsPeer median 29.5%29.7%Return on equityPeer median 2.6%2.4%Payout of profitPeer median 24.8%192.1%Gold tick: the median of 13–52 peers with $50M+ revenue in retail-drug stores and proprietary stores
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$2.66Growth its own profit can fund0.0%retained x return on equityRevenue growth it managed7.8%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 11, "rate": 0.7333333333333333, "method": "v4", "byYear": { "2011": [ 0, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 0, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 0, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:19.687Z", "hash": "d565283a29cdd0db", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Cvs Health (CVS) grew revenue 7.8% in FY2025 to $402.1 billion, operating margin 1.2% against a 0.6% median for retail-drug stores and proprietary stores, equity 29.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 402067000000, "totalDebt": 64570000000, "cash": 8453000000 }, "experience": { "revenueGrowth1y": 0.07847986502471782, "revenueGrowthPerYear": 0.08314756942627577, "operatingMargin": 0.011590108116308973, "operatingMarginPrior": 0.022842796177130916, "netMargin": 0.004397277070736966, "freeCashFlow": 7807000000 }, "soundness": { "equityRatio": 0.29665770022639604, "returnOnEquity": 0.023506262132049885, "payoutRatio": 1.9213800904977376, "dividendPerShare": 2.66, "dividendYearsRising": 0, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5912, "sicDescription": "Retail-Drug Stores and Proprietary Stores", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "59", "growth": [ 0.0413, 57 ], "opMargin": [ 0.0057, 57 ], "equityRatio": [ 0.2951, 52 ], "returnOnEquity": [ 0.0257, 40 ], "payoutRatio": [ 0.2479, 13 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-17", "url": "https://www.sec.gov/Archives/edgar/data/64803/000119312526354096/0001193125-26-354096-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 390932295698.59766, "high": 449418153612.05444, "baseline": 433185118759.59625, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.028611179126127994, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.051252314928144374, "k": 3 }, "stress": { "low": 367708070875.88324, "high": 475240490180.1105, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 11, "rate": 0.7333333333333333, "method": "v4", "byYear": { "2011": [ 0, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 0, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 0, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:19.687Z", "hash": "d565283a29cdd0db", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000064803.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=64803" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0265, "growth3y": 0.0763, "volatility": 0.0286, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.2967, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns 2.6% of revenue into operating cash; revenue growing 7.6% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 11th percentile for cash, 66th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$10B+", "cashPctInClass": 11, "growthPctInClass": 66, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 10639000000, "investing": -5871000000, "financing": -4940000000, "capitalSpending": 2832000000, "free": 7807000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 18265000000, "free": 15745000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 16177000000, "free": 13450000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 13426000000, "free": 10395000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 9107000000, "free": 6326000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 10639000000, "free": 7807000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 8453000000, "shortTerm": 817000000, "longTerm": 19928000000, "equityHoldings": null, "totalAssets": 253538000000, "ladder": { "within1y": 817000000, "y1to5": 11699000000, "y5to10": 5382000000, "y10plus": 2847000000, "noSingleDate": null }, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0265, "growth3y": 0.0763, "volatility": 0.0286, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.2967, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns 2.6% of revenue into operating cash; revenue growing 7.6% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 11th percentile for cash, 66th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$10B+", "cashPctInClass": 11, "growthPctInClass": 66, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 10639000000, "investing": -5871000000, "financing": -4940000000, "capitalSpending": 2832000000, "free": 7807000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 18265000000, "free": 15745000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 16177000000, "free": 13450000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 13426000000, "free": 10395000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 9107000000, "free": 6326000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 10639000000, "free": 7807000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 8453000000, "shortTerm": 817000000, "longTerm": 19928000000, "equityHoldings": null, "totalAssets": 253538000000, "ladder": { "within1y": 817000000, "y1to5": 11699000000, "y5to10": 5382000000, "y10plus": 2847000000, "noSingleDate": null }, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }