Liquidity ratios measure the company’s ability to meet its short-term obligations.

CVS Health Corp., liquidity ratios (quarterly data)

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	CVS Health Corp.’s current ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	CVS Health Corp.’s quick ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	CVS Health Corp.’s cash ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.

CVS Health Corp., current ratio calculation (quarterly data)

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Current assets
	Current liabilities
	Ratio
	Current ratio¹

Q4 2018 Calculations

¹ Current ratio = Current assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	CVS Health Corp.’s current ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.

CVS Health Corp., quick ratio calculation (quarterly data)

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Short-term investments
	Accounts receivable, net
	Total quick assets
	Current liabilities
	Ratio
	Quick ratio¹

Q4 2018 Calculations

¹ Quick ratio = Total quick assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	CVS Health Corp.’s quick ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.

CVS Health Corp., cash ratio calculation (quarterly data)

		Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Cash and cash equivalents
	Short-term investments
	Total cash assets
	Current liabilities
	Ratio
	Cash ratio¹

Q4 2018 Calculations

¹ Cash ratio = Total cash assets ÷ Current liabilities
= hidden ÷ hidden = hidden

Ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	CVS Health Corp.’s cash ratio improved from Q2 2018 to Q3 2018 but then deteriorated significantly from Q3 2018 to Q4 2018.

	CVS Health Corp.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

CVS Health Corp. (CVS)

Liquidity Analysis
Quarterly Data