CVS Health Corporation (CVS) Stock

CVS Health Corporation (CVS) is a Consumer Discretionary stock trading at $107.59 (as of 2026-07-20), with a market capitalization of $137.28B and a trailing P/E of 77.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

CVS Health Corporation provides health services in the United States through a Health Care Benefits segment offering health insurance products and related services, and a Pharmacy Services segment offering pharmacy benefit management and related pharmacy, specialty, and clinical/disease management services. It serves employer groups, individuals and other plan sponsors, health plans, providers, government-related entities, and certain retail and pharmacy customers.

Understand CVS Health Corporation: how it makes money

CVS Health provides health services in the United States, it sells health insurance products and related services through its Health Care Benefits segment and it also provides pharmacy benefit management and related pharmacy and network services through its Pharmacy Services segment.

CVS earns money by combining two connected levers in one platform, Health Care Benefits (insurance products and services) and Pharmacy Services (pharmacy benefit management and pharmacy network operations), so changes in member demand and prescription-related activity can flow through both revenue streams.

Revenue by segment (latest quarter)
Health Benefits$36.0B
Pharmacy Services$64.4B

Business quality (Weak): The company has a clear, dual business model (insurance and pharmacy services) with a modest overall operating margin (4.7% in the latest period provided), which makes cost control and ongoing demand for its services central to results.

Valuation: At 45× earnings, CVS trades 134% above the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

  • Dual revenue engine (insurance and pharmacy services): CVS operates both a Health Care Benefits business (traditional, voluntary, and consumer-directed health insurance products and services) and a Pharmacy Services business (pharmacy benefit management and related network and administration services).
  • Broad customer and distribution reach: Its Health Care Benefits segment serves many customer groups, including employer groups, individuals, college students, part-time and hourly workers, health plans, providers, governmental units, and government-sponsored plans.

Bear case

  • Exposure to utilization and pricing dynamics: Because Pharmacy Services includes pharmacy benefit management and retail pharmacy network management, results could be sensitive to changes in prescription activity and the pricing environment for medicines.
  • Insurance economics can be unpredictable: Because Health Care Benefits sells insurance products and related services, profitability can be impacted by fluctuations in healthcare costs and member mix, even if premium and service structures remain steady.
Valuation — source: SEC EDGAR (first-party)
Price$107.59
Market Cap$137.28B
P/E Ratio77.9
EV / EBITDA10.8
Price / Book1.77
Price / Sales0.35
FCF Yield12.8%
DCF Value (model)$34.99
DCF Upside vs Price-67.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$402.07B
Net Margin0.4%
Revenue Growth (YoY)7.8%
EPS Growth (YoY)-61.9%
FCF Growth (YoY)23.4%
Financial Health — source: SEC EDGAR
Altman Z-Score2.38 (grey)
Piotroski F-Score7/9 (strong)
Valuation vs Sector & Industry
Stock P/E77.9
Sector P/E (Consumer Discretionary)21.6
Industry P/E (Retail)19.1
vs Sector261.3%
vs Industry307.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($9.58B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorConsumer Discretionary
IndustryRetail
CEOJ. David Joyner
Employees219,000
CountryUS
IPO Date1996-11-20

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CVS earnings history · CVS institutional & insider holders · CVS KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.