Return on Assets (ROA)
since 2005
Calculation
CVS Health Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to CVS Health1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 1.82% | = | 100 | × | 4,614) | ÷ | 253,215) |
| Dec 31, 2023 | 3.34% | = | 100 | × | 8,344) | ÷ | 249,728) |
| Dec 31, 2022 | 1.82% | = | 100 | × | 4,149) | ÷ | 228,275) |
| Dec 31, 2021 | 3.39% | = | 100 | × | 7,910) | ÷ | 232,999) |
| Dec 31, 2020 | 3.11% | = | 100 | × | 7,179) | ÷ | 230,715) |
| Dec 31, 2019 | 2.98% | = | 100 | × | 6,634) | ÷ | 222,449) |
| Dec 31, 2018 | -0.30% | = | 100 | × | (594) | ÷ | 196,456) |
| Dec 31, 2017 | 6.96% | = | 100 | × | 6,622) | ÷ | 95,131) |
| Dec 31, 2016 | 5.63% | = | 100 | × | 5,317) | ÷ | 94,462) |
| Dec 31, 2015 | 5.59% | = | 100 | × | 5,237) | ÷ | 93,657) |
| Dec 31, 2014 | 6.25% | = | 100 | × | 4,644) | ÷ | 74,252) |
| Dec 31, 2013 | 6.42% | = | 100 | × | 4,592) | ÷ | 71,526) |
| Dec 31, 2012 | 5.88% | = | 100 | × | 3,877) | ÷ | 65,912) |
| Dec 31, 2011 | 5.36% | = | 100 | × | 3,461) | ÷ | 64,543) |
| Dec 31, 2010 | 5.51% | = | 100 | × | 3,427) | ÷ | 62,169) |
| Dec 31, 2009 | 6.00% | = | 100 | × | 3,696) | ÷ | 61,641) |
| Dec 31, 2008 | 5.27% | = | 100 | × | 3,212) | ÷ | 60,960) |
| Dec 29, 2007 | 4.82% | = | 100 | × | 2,637) | ÷ | 54,722) |
| Dec 30, 2006 | 6.65% | = | 100 | × | 1,369) | ÷ | 20,570) |
| Dec 31, 2005 | 8.01% | = | 100 | × | 1,225) | ÷ | 15,283) |
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$ in millions
The financial data demonstrates several key trends in profitability, asset growth, and returns over the analyzed period.
- Net Income
- Net income attributable to CVS Health exhibits a generally positive growth trajectory from 2005 through 2017, increasing from $1,225 million to a peak of $6,622 million. However, in 2018, there is a significant deviation as net income turns negative at -$594 million, indicating an unusual loss during that year. Following this anomaly, net income recovers robustly, reaching $8,344 million in 2023 before declining to $4,614 million in 2024. This fluctuation suggests exceptional circumstances impacting earnings in both 2018 and 2024.
- Total Assets
- Total assets display a clear upward trend throughout the years, growing consistently from $15,283 million in 2005 to $253,215 million in 2024. Notably, there is a substantial increase between 2017 and 2018, where assets jump from approximately $95 billion to nearly $196 billion, more than doubling. This surge may indicate a major acquisition, investment, or revaluation event. Afterward, asset growth continues steadily, albeit at a slower pace, maintaining an expansionary pattern.
- Return on Assets (ROA)
- ROA percentages fluctuate within a moderate range, starting at 8.01% in 2005 and generally declining through the mid-2010s. The lowest ROA appears in 2018 at -0.3%, coinciding with the net income loss and the substantial asset increase that year, implying reduced efficiency in utilizing assets to generate profits during that period. Subsequently, ROA recovers to a range between 2.98% and 6.96% in the following years but shows some volatility, particularly dipping to 1.82% in 2022 and 2024. These variations highlight changing profitability relative to assets, possibly affected by integration challenges, investment impacts, or market conditions.
Summary:
- Profitability
- Overall profitability improved significantly until 2017, followed by a notable loss in 2018 and a volatile recovery thereafter.
- Asset Growth
- The total assets expanded steadily with a dramatic increase around 2018, marking a pivotal change in the company’s resource base.
- Efficiency
- ROA trends indicate the company experienced diminished returns on its asset base during periods of rapid asset growth, particularly in 2018, before partially stabilizing in subsequent years.
Comparison to Competitors
CVS Health Corp., ROA, long-term trends, comparison to competitors
| CVS Health Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2024 | 1.82% | 16.46% | 5.12% | 12.39% | 4.09% | 4.83% |
| Dec 31, 2023 | 3.34% | 7.82% | 5.50% | 11.64% | 4.13% | 8.18% |
| Dec 31, 2022 | 1.82% | 9.31% | 5.86% | 10.19% | 5.54% | 8.19% |
| Dec 31, 2021 | 3.39% | 9.40% | 6.26% | 12.58% | 3.87% | 8.15% |
| Dec 31, 2020 | 3.11% | 6.20% | 5.28% | 9.50% | 5.28% | 7.81% |
| Dec 31, 2019 | 2.98% | 5.43% | 6.21% | 14.17% | 5.16% | 7.96% |
| Dec 31, 2018 | -0.30% | 3.53% | 5.24% | 14.37% | 3.40% | 7.87% |
| Dec 31, 2017 | 6.96% | 0.63% | 5.45% | 11.46% | 4.04% | 7.59% |
| Dec 31, 2016 | 5.63% | 2.66% | 3.79% | 11.34% | 3.55% | 5.71% |
| Dec 31, 2015 | 5.59% | 10.72% | 4.15% | 12.00% | 2.51% | 5.22% |
| Dec 31, 2014 | 6.25% | 5.53% | 4.14% | 10.58% | 8.08% | 6.50% |
| Dec 31, 2013 | 6.42% | 6.00% | 4.18% | 16.99% | 9.95% | 6.87% |
| Dec 31, 2012 | 5.88% | 8.87% | 4.50% | 16.18% | 10.93% | 6.83% |
| Dec 31, 2011 | 5.36% | 7.84% | 5.09% | 16.16% | 10.18% | 7.57% |
| Dec 31, 2010 | 5.51% | 7.78% | 5.75% | 15.97% | 11.03% | 7.35% |
| Dec 31, 2009 | 6.00% | 10.96% | 9.10% | 12.85% | 9.17% | 6.47% |
| Dec 31, 2008 | 5.27% | 11.51% | 5.15% | 13.86% | 10.05% | 5.33% |
| Dec 29, 2007 | 4.82% | 9.08% | 6.43% | 13.90% | 14.36% | 9.14% |
| Dec 30, 2006 | 6.65% | 4.75% | 5.98% | 10.72% | 12.95% | 8.61% |
| Dec 31, 2005 | 8.01% | 11.57% | 4.79% | 18.77% | 10.86% | 7.98% |
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., ROA, long-term trends, comparison to sector (health care equipment & services)
| CVS Health Corp. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2024 | 1.82% | 5.17% |
| Dec 31, 2023 | 3.34% | 5.91% |
| Dec 31, 2022 | 1.82% | 5.77% |
| Dec 31, 2021 | 3.39% | 6.03% |
| Dec 31, 2020 | 3.11% | 5.44% |
| Dec 31, 2019 | 2.98% | 5.46% |
| Dec 31, 2018 | -0.30% | 3.71% |
| Dec 31, 2017 | 6.96% | 5.38% |
| Dec 31, 2016 | 5.63% | 4.64% |
| Dec 31, 2015 | 5.59% | 5.08% |
| Dec 31, 2014 | 6.25% | 6.08% |
| Dec 31, 2013 | 6.42% | 6.59% |
| Dec 31, 2012 | 5.88% | 7.19% |
| Dec 31, 2011 | 5.36% | 7.03% |
| Dec 31, 2010 | 5.51% | 7.18% |
| Dec 31, 2009 | 6.00% | 8.14% |
| Dec 31, 2008 | 5.27% | 6.92% |
| Dec 29, 2007 | 4.82% | 7.89% |
| Dec 30, 2006 | 6.65% | 7.31% |
| Dec 31, 2005 | 8.01% | 7.94% |
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., ROA, long-term trends, comparison to industry (health care)
| CVS Health Corp. | Health Care | |
|---|---|---|
| Dec 31, 2024 | 1.82% | 5.25% |
| Dec 31, 2023 | 3.34% | 6.71% |
| Dec 31, 2022 | 1.82% | 8.71% |
| Dec 31, 2021 | 3.39% | 8.70% |
| Dec 31, 2020 | 3.11% | 5.45% |
| Dec 31, 2019 | 2.98% | 7.57% |
| Dec 31, 2018 | -0.30% | 6.72% |
| Dec 31, 2017 | 6.96% | 5.31% |
| Dec 31, 2016 | 5.63% | 7.18% |
| Dec 31, 2015 | 5.59% | 7.54% |
| Dec 31, 2014 | 6.25% | 8.41% |
| Dec 31, 2013 | 6.42% | 8.58% |
| Dec 31, 2012 | 5.88% | 7.94% |
| Dec 31, 2011 | 5.36% | 7.22% |
| Dec 31, 2010 | 5.51% | 7.11% |
| Dec 31, 2009 | 6.00% | 9.45% |
| Dec 31, 2008 | 5.27% | 9.08% |
| Dec 29, 2007 | 4.82% | 8.51% |
| Dec 30, 2006 | 6.65% | 10.37% |
| Dec 31, 2005 | 8.01% | 9.62% |
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).