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CVS Health Corp. (CVS)
Common Stock Valuation Ratios (Price Multiples)
Difficulty: Beginner
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Current Valuation Ratios
CVS Health Corp., current price multiples
| CVS Health Corp. | Walgreens Boots Alliance Inc. | Food & Drug Retailers | Consumer Services | |
|---|---|---|---|---|
| Selected Financial Data | ||||
| Current share price (P) | $ |
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| No. shares of common stock outstanding | |
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| Earnings per share (EPS) | $ |
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| Operating profit per share | $ |
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| Sales per share | $ |
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| Book value per share (BVPS) | $ |
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| Ratios (Price Multiples) | ||||
| Price to operating profit (P/OP) | |
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| Price to sales (P/S) | |
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| Price to book value (P/BV) | |
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Based on: 10-K (filing date: 2019-02-28).
If company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
CVS Health Corp., historical price multiples
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| Price to earnings (P/E) | |
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| Price to operating profit (P/OP) | |
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| Price to sales (P/S) | |
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| Price to book value (P/BV) | |
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Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).
| Ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | CVS Health Corp.’s P/E ratio declined from 2016 to 2017 and from 2017 to 2018. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | CVS Health Corp.’s P/OP ratio declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | CVS Health Corp.’s P/S ratio declined from 2016 to 2017 but then slightly increased from 2017 to 2018. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | CVS Health Corp.’s P/BV ratio declined from 2016 to 2017 and from 2017 to 2018. |
Price to Earnings (P/E)
CVS Health Corp., historical P/E calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Net income (loss) attributable to CVS Health (in millions) | |
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| Earnings per share (EPS)3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/E ratio4 | |
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| Benchmarks | ||||||
| P/E Ratio, Competitors | ||||||
| Walgreens Boots Alliance Inc. | |
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| P/E Ratio, Sector | ||||||
| Food & Drug Retailers | |
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| P/E Ratio, Industry | ||||||
| Consumer Services | |
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Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of CVS Health Corp.’s Annual Report.
2018 Calculations
3 EPS = Net income (loss) attributable to CVS Health ÷ No. shares of common stock outstanding
= ÷ =
4 P/E ratio = Share price ÷ EPS
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | CVS Health Corp.’s P/E ratio declined from 2016 to 2017 and from 2017 to 2018. |
Price to Operating Profit (P/OP)
CVS Health Corp., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Operating income (in millions) | |
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| Operating profit per share3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/OP ratio4 | |
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| Benchmarks | ||||||
| P/OP Ratio, Competitors | ||||||
| Walgreens Boots Alliance Inc. | |
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| P/OP Ratio, Sector | ||||||
| Food & Drug Retailers | |
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| P/OP Ratio, Industry | ||||||
| Consumer Services | |
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Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of CVS Health Corp.’s Annual Report.
2018 Calculations
3 Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
4 P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | CVS Health Corp.’s P/OP ratio declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level. |
Price to Sales (P/S)
CVS Health Corp., historical P/S calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Revenues from customers (in millions) | |
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| Sales per share3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/S ratio4 | |
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| Benchmarks | ||||||
| P/S Ratio, Competitors | ||||||
| Walgreens Boots Alliance Inc. | |
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| P/S Ratio, Sector | ||||||
| Food & Drug Retailers | |
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| P/S Ratio, Industry | ||||||
| Consumer Services | |
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Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of CVS Health Corp.’s Annual Report.
2018 Calculations
3 Sales per share = Revenues from customers ÷ No. shares of common stock outstanding
= ÷ =
4 P/S ratio = Share price ÷ Sales per share
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | CVS Health Corp.’s P/S ratio declined from 2016 to 2017 but then slightly increased from 2017 to 2018. |
Price to Book Value (P/BV)
CVS Health Corp., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| No. shares of common stock outstanding1 | |
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| Selected Financial Data (USD $) | ||||||
| Total CVS Health shareholders’ equity (in millions) | |
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| Book value per share (BVPS)3 | |
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| Share price1, 2 | |
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| Ratio | ||||||
| P/BV ratio4 | |
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| Benchmarks | ||||||
| P/BV Ratio, Competitors | ||||||
| Walgreens Boots Alliance Inc. | |
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| P/BV Ratio, Sector | ||||||
| Food & Drug Retailers | |
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| P/BV Ratio, Industry | ||||||
| Consumer Services | |
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Based on: 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-09), 10-K (filing date: 2015-02-10).
1 Data adjusted for splits and stock dividends.
2 Close price on the filing date of CVS Health Corp.’s Annual Report.
2018 Calculations
3 BVPS = Total CVS Health shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
4 P/BV ratio = Share price ÷ BVPS
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | CVS Health Corp.’s P/BV ratio declined from 2016 to 2017 and from 2017 to 2018. |