Stock Analysis on Net
Stock Analysis on Net

CVS Health Corp. (NYSE:CVS)

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Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

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).


Historical Valuation Ratios (Summary)

CVS Health Corp., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
Price to earnings (P/E)
Price to operating profit (P/OP)
Price to sales (P/S)
Price to book value (P/BV)

Based on: 10-Q (filing date: 2020-11-06), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-01).

Valuation 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 decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.
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 decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
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 increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.
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 increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.

Price to Earnings (P/E)

CVS Health Corp., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
No. shares of common stock outstanding1
Selected Financial Data (US$)
Net income (loss) attributable to CVS Health (in millions)
Earnings per share (EPS)2
Share price1, 3
Valuation Ratio
P/E ratio4

Based on: 10-Q (filing date: 2020-11-06), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income (loss) attributable to CVS HealthQ3 2020 + Net income (loss) attributable to CVS HealthQ2 2020 + Net income (loss) attributable to CVS HealthQ1 2020 + Net income (loss) attributable to CVS HealthQ4 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of CVS Health Corp.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =

Valuation 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 decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 not reaching Q1 2020 level.

Price to Operating Profit (P/OP)

CVS Health Corp., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
No. shares of common stock outstanding1
Selected Financial Data (US$)
Operating income (loss) (in millions)
Operating profit per share2
Share price1, 3
Valuation Ratio
P/OP ratio4

Based on: 10-Q (filing date: 2020-11-06), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating income (loss)Q3 2020 + Operating income (loss)Q2 2020 + Operating income (loss)Q1 2020 + Operating income (loss)Q4 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of CVS Health Corp.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =

Valuation 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 decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Sales (P/S)

CVS Health Corp., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
No. shares of common stock outstanding1
Selected Financial Data (US$)
Revenues from customers (in millions)
Sales per share2
Share price1, 3
Valuation Ratio
P/S ratio4

Based on: 10-Q (filing date: 2020-11-06), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (Revenues from customersQ3 2020 + Revenues from customersQ2 2020 + Revenues from customersQ1 2020 + Revenues from customersQ4 2019) ÷ No. shares of common stock outstanding
= ( + + + ) ÷ =

3 Closing price as at the filing date of CVS Health Corp.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =

Valuation 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 increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.

Price to Book Value (P/BV)

CVS Health Corp., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 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
No. shares of common stock outstanding1
Selected Financial Data (US$)
Total CVS Health shareholders’ equity (in millions)
Book value per share (BVPS)2
Share price1, 3
Valuation Ratio
P/BV ratio4

Based on: 10-Q (filing date: 2020-11-06), 10-Q (filing date: 2020-08-05), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-18), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-02), 10-K (filing date: 2018-02-14), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-01).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total CVS Health shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =

3 Closing price as at the filing date of CVS Health Corp.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =

Valuation 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 increased from Q1 2020 to Q2 2020 but then slightly decreased from Q2 2020 to Q3 2020.