Price to Book Value (P/BV)
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Calculation
CVS Health Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total CVS Health shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 14, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of CVS Health Corp. Annual Report.
- Share Price Trend
- The share price experienced considerable volatility over the observed periods. Initially, from 2006 to 2008, the stock showed an upward trend, increasing from $30.57 to a peak of $40.48, before sharply declining to $25.74 in 2009. After this dip, the price generally rose, reaching its highest point at $104.79 in February 2022. However, after 2022, the share price decreased again, falling to $63.22 by February 2025. This pattern suggests periods of growth interspersed with notable corrections.
- Book Value per Share (BVPS) Trend
- BVPS displayed a consistent upward trend throughout the entire timeframe. It began at $10.19 in 2006 and progressively increased almost every year, reaching $60.76 in 2024 before a slight decrease to $59.93 in 2025. This steady increase indicates continuous growth in the company's net asset value on a per-share basis, reflecting strengthening financial fundamentals over time.
- Price-to-Book Value (P/BV) Ratio Trend
- The P/BV ratio showed significant fluctuations, reflective of the interplay between share price and book value changes. Initially high at a multiple of 3.0 in 2006, the ratio declined steadily to near parity (1.08) in 2009. Subsequent years reveal a cyclical pattern with peaks near 3.01 in 2014 and a gradual decline to 1.05 by 2025. This trend demonstrates periods when the market valued the stock at a substantial premium above book value, followed by phases where valuation aligned closely with or slightly above book value.
- Overall Financial Insight
- The data suggests that while book value per share exhibited consistent growth, market sentiment reflected by share price and P/BV ratio underwent cycles of optimism and correction. The sharp rise in share price leading to a high P/BV ratio in 2014 and 2022 indicates phases of heightened investor confidence, while subsequent declines suggest market reevaluation. The alignment of P/BV closer to 1 in recent years may imply a more conservative or cautious valuation by the market relative to the company's net asset growth.
Comparison to Competitors
CVS Health Corp., P/BV, long-term trends, comparison to competitors
| CVS Health Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 12, 2025 | ||||||
| Feb 7, 2024 | ||||||
| Feb 8, 2023 | ||||||
| Feb 9, 2022 | ||||||
| Feb 16, 2021 | ||||||
| Feb 18, 2020 | ||||||
| Feb 28, 2019 | ||||||
| Feb 14, 2018 | ||||||
| Feb 9, 2017 | ||||||
| Feb 9, 2016 | ||||||
| Feb 10, 2015 | ||||||
| Feb 11, 2014 | ||||||
| Feb 15, 2013 | ||||||
| Feb 17, 2012 | ||||||
| Feb 18, 2011 | ||||||
| Feb 26, 2010 | ||||||
| Feb 27, 2009 | ||||||
| Feb 27, 2008 | ||||||
| Feb 27, 2007 | ||||||
| Mar 14, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
CVS Health Corp., P/BV, long-term trends, comparison to sector (health care equipment & services)
| CVS Health Corp. | Health Care Equipment & Services | |
|---|---|---|
| Feb 12, 2025 | ||
| Feb 7, 2024 | ||
| Feb 8, 2023 | ||
| Feb 9, 2022 | ||
| Feb 16, 2021 | ||
| Feb 18, 2020 | ||
| Feb 28, 2019 | ||
| Feb 14, 2018 | ||
| Feb 9, 2017 | ||
| Feb 9, 2016 | ||
| Feb 10, 2015 | ||
| Feb 11, 2014 | ||
| Feb 15, 2013 | ||
| Feb 17, 2012 | ||
| Feb 18, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 27, 2008 | ||
| Feb 27, 2007 | ||
| Mar 14, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
CVS Health Corp., P/BV, long-term trends, comparison to industry (health care)
| CVS Health Corp. | Health Care | |
|---|---|---|
| Feb 12, 2025 | ||
| Feb 7, 2024 | ||
| Feb 8, 2023 | ||
| Feb 9, 2022 | ||
| Feb 16, 2021 | ||
| Feb 18, 2020 | ||
| Feb 28, 2019 | ||
| Feb 14, 2018 | ||
| Feb 9, 2017 | ||
| Feb 9, 2016 | ||
| Feb 10, 2015 | ||
| Feb 11, 2014 | ||
| Feb 15, 2013 | ||
| Feb 17, 2012 | ||
| Feb 18, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 27, 2008 | ||
| Feb 27, 2007 | ||
| Mar 14, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).