Stock Analysis on Net

CVS Health Corp. (NYSE:CVS)

$19.99

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel LibreOffice Calc

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Short-term Activity Ratios (Summary)

CVS Health Corp., short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. CVS Health Corp. inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. CVS Health Corp. receivables turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. CVS Health Corp. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. CVS Health Corp. number of days of inventory outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. CVS Health Corp. number of days of receivables outstanding deteriorated from 2019 to 2020 and from 2020 to 2021.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. CVS Health Corp. cash conversion cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Inventory Turnover

CVS Health Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of revenues
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
Inventory Turnover, Sector
Health Care Equipment & Services
Inventory Turnover, Industry
Health Care

Based on: 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).

1 2021 Calculation
Inventory turnover = Cost of revenues ÷ Inventories
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. CVS Health Corp. inventory turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Receivables Turnover

CVS Health Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues from customers
Accounts receivable, net
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories
Anthem Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.
Receivables Turnover, Sector
Health Care Equipment & Services
Receivables Turnover, Industry
Health Care

Based on: 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).

1 2021 Calculation
Receivables turnover = Revenues from customers ÷ Accounts receivable, net
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. CVS Health Corp. receivables turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Payables Turnover

CVS Health Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of revenues
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories
Anthem Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.
Payables Turnover, Sector
Health Care Equipment & Services
Payables Turnover, Industry
Health Care

Based on: 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).

1 2021 Calculation
Payables turnover = Cost of revenues ÷ Accounts payable
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. CVS Health Corp. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

Working Capital Turnover

CVS Health Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Revenues from customers
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories
Anthem Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.
Working Capital Turnover, Sector
Health Care Equipment & Services
Working Capital Turnover, Industry
Health Care

Based on: 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).

1 2021 Calculation
Working capital turnover = Revenues from customers ÷ Working capital
= ÷ =

2 Click competitor name to see calculations.


Average Inventory Processing Period

CVS Health Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
Average Inventory Processing Period, Sector
Health Care Equipment & Services
Average Inventory Processing Period, Industry
Health Care

Based on: 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).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. CVS Health Corp. number of days of inventory outstanding deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Average Receivable Collection Period

CVS Health Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories
Anthem Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.
Average Receivable Collection Period, Sector
Health Care Equipment & Services
Average Receivable Collection Period, Industry
Health Care

Based on: 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).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. CVS Health Corp. number of days of receivables outstanding deteriorated from 2019 to 2020 and from 2020 to 2021.

Operating Cycle

CVS Health Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
Operating Cycle, Sector
Health Care Equipment & Services
Operating Cycle, Industry
Health Care

Based on: 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).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

CVS Health Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories
Anthem Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.
Average Payables Payment Period, Sector
Health Care Equipment & Services
Average Payables Payment Period, Industry
Health Care

Based on: 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).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

CVS Health Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories
Bristol-Myers Squibb Co.
Danaher Corp.
Intuitive Surgical Inc.
Medtronic PLC
Cash Conversion Cycle, Sector
Health Care Equipment & Services
Cash Conversion Cycle, Industry
Health Care

Based on: 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).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. CVS Health Corp. cash conversion cycle deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.