Stock Analysis on Net
Stock Analysis on Net

CVS Health Corp. (NYSE:CVS)

This company has been moved to the archive! The financial data has not been updated since May 1, 2025.

Common-Size Balance Sheet: Assets

CVS Health Corp., common-size consolidated balance sheet: assets

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 3.39 3.28 5.67 4.04 3.40
Investments 0.95 1.31 1.22 1.34 1.30
Accounts receivable, net 14.40 14.11 11.95 10.49 9.42
Inventories 7.15 7.22 8.36 7.62 8.02
Assets held for sale 0.00 0.00 0.40 0.00 0.00
Other current assets 1.21 1.26 1.18 2.27 2.29
Current assets 27.11% 27.17% 28.77% 25.75% 24.43%
Long-term investments 11.43 9.22 9.24 9.88 9.02
Property and equipment, net 5.13 5.28 5.64 5.53 5.46
Operating lease right-of-use assets 6.30 6.91 7.83 8.21 8.98
Goodwill 36.05 36.55 34.24 33.96 34.48
Intangible assets, net 10.79 11.71 10.84 12.46 13.50
Separate accounts assets 1.31 1.30 1.41 2.18 2.12
Other assets 1.89 1.87 2.02 2.02 2.00
Long-term assets 72.89% 72.83% 71.23% 74.25% 75.57%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The overall asset composition reveals a heavy weighting toward long-term assets, which have fluctuated between 71.23% and 75.57% of the total asset base over the five-year period. The balance sheet is characterized by a significant concentration of intangible assets, indicating a structural reliance on acquisitions and intellectual property rather than physical infrastructure.

Current Asset Trends
Accounts receivable, net, have exhibited a consistent and significant upward trend, increasing from 9.42% in 2020 to 14.40% in 2024. This suggests a growing proportion of total assets is tied up in unpaid customer invoices. Cash and cash equivalents showed volatility, peaking at 5.67% in 2022 before normalizing to 3.39% by 2024. Inventories have remained relatively stable, though a gradual decline from 8.02% to 7.15% is observable.
Intangible and Long-Term Asset Dynamics
Goodwill represents the largest single component of the balance sheet, consistently ranging between 33.96% and 36.55%, underscoring the impact of historical mergers and acquisitions. Conversely, intangible assets, net, have experienced a steady decline from 13.50% in 2020 to 10.79% in 2024, likely reflecting periodic amortization. Operating lease right-of-use assets also show a clear downward trajectory, decreasing from 8.98% to 6.30% over the analyzed period.
Investment and Fixed Asset Stability
Long-term investments have increased to 11.43% of total assets by 2024, up from 9.02% in 2020, indicating an increase in the allocation of capital toward long-term financial instruments. Property and equipment, net, have remained remarkably stable, hovering between 5.13% and 5.64%, suggesting that physical asset growth has scaled proportionally with the total asset base.

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