CVS Health
CVS Health Corporation provides health solutions in the United States. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilit…
CVS Health Corporation provides health solutions in the United States. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilities; Medicare Advantage and Medicare Supplement plans; prescription drug plans (PDPs); and Medicaid health care management services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Health Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, specialty and mail-order pharmacy, clinical services, disease management, medical spend management services, and pharmacy and other administrative services. It serves employers, insurance companies, unions, government employee groups, health plans, PDPs, Medicaid managed care plans, CMS, plans offered on public health insurance exchanges, and other sponsors of health benefit plans. The Pharmacy & Consumer Wellness segment sells prescription and over-the-counter drugs, consumer health and beauty products, personal care products, and other general merchandise products. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. It operates online retail pharmacy websites, retail specialty pharmacy stores, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
Looks undervalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Market price below modeled range
Showing the EPS-based Gordon proxy you selected on the company card, using 4.86% growth, 2.9% terminal growth and 10.5% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 4.86%, discount rate 10.50%, terminal growth 2.90% (sector defaults). See a worked example.
Blended growth assumption: 4.9% (sector default 6.8%, analyst revenue consensus 2.9%).
Analyst consensus expects revenue growth of 2.9% a year; the growth assumption used is 4.9%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — USD 92.89 (+14.2%)
-
EPS-based Gordon proxy
— USD 115.92 (+42.5%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
-
DCF (trailing free cash flow)
— USD 130.51 (+60.5%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
-
FCFF (steady state)
— USD 116.47 (+43.2%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
-
EV/EBITDA (12x)
— USD 136.35 (+67.6%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
-
Fade DCF (10-year growth fade)
— USD 129.97 (+59.8%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
-
EV/Sales (Rule of 40)
— USD 575.13 (+607.2%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 90.88 | 10.5% |
| Base USD 115.92 | 29.8% |
| Bull USD 133.48 | 39.1% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
6 months price change: -5.65% · USD 81.33 · Market data through 05 Nov 2026 ; dashed line is today’s model base value (USD 115.92). The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 05 Nov 2026; last refreshed 06 Nov 2026 18:14 (53 minutes ago).
07 May 2026Range USD 79.96 – 109.1405 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 70 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +6.9% a year | 20 / 20 |
| Balance sheet | net debt 3.1x EBITDA | 10 / 20 |
| Margins | EBITDA margin 5% | 0 / 20 |
Peers in Health Care
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| CVS (this company) | USD 81.33 | 12.4% | 9.5 | 1.3 | 3.3% | 70 |
| CNC Centene Corporation | USD 74.17 | 41.6% | 25.1 | 1.7 | – | 72 |
| ZEAL.CO Zealand Pharma A/S | DKK 232.90 | 36.5% | 6.0 | 0.9 | – | 72 |
| CI Cigna | USD 301.48 | 28.8% | 12.4 | 1.9 | 2.0% | 70 |
| BAVA.CO Bavarian Nordic A/S | DKK 241.00 | 12.0% | 11.9 | 1.4 | – | 92 |
| AMP.MI Amplifon S.p.A. | EUR 11.17 | 8.7% | 41.1 | – | 2.6% | 72 |
| ZBH Zimmer Biomet | USD 106.85 | 0.5% | 26.6 | 1.6 | 0.9% | 90 |
| GSK.L GSK plc | GBP 18.90 | -5.4% | 17.7 | 4.1 | 3.5% | 92 |
| SAN.PA Sanofi | EUR 83.74 | -5.5% | 13.1 | – | 4.7% | 92 |
| Peer median | 15.4 | 1.6 | ||||
Dividends
Paid in the last 12 months: USD 2.66 per share · yield 3.27% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 2.660 |
| 2025 | 2.660 |
| 2024 | 2.660 |
| 2023 | 2.420 |
| 2022 | 2.200 |
| 2021 | 2.000 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 16:06
| Revenue | USD 420,614,000,000 |
|---|---|
| EBITDA | USD 19,703,000,000 |
| EBIT | USD 15,183,000,000 |
| Net income | USD 11,053,000,000 |
| Free cash flow | USD 15,567,000,000 |
| Capital expenditures | USD 3,141,000,000 |
| Debt | USD 75,297,000,000 |
| Cash | USD 14,887,000,000 |
| Working capital | USD -13,705,000,000 |
| Shares outstanding | 1,291,000,000 |
| Reported dividends per share | USD 2.6514 |