CVS HEALTH Corp

CVS · Retail-Drug Stores and Proprietary Stores · 1.28B shares · -0%/yr ↓ buyback · EDGAR filings ↗

Net buyback after stock comp: $1.4B (gross $2.0B, SBC $588M)

Reference price $93.45 · est. market cap ~$119.2B — last insider sale, 2026-05-21 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C64

CVS Health — integrated payer/pharmacy with huge cash flow but razor-thin margins.

Strengths

Free cash flow 98th pct, cash 100th
Vertically integrated scale (Aetna + pharmacy + Caremark)

Risks

Net margin 0.4%; weak liquidity (current 0.84, 18th)
MA margin pressure and reform/PBM scrutiny
High debt load

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Weak liquidityCurrent ratio 0.84 (<1)
Strong balance sheetStrong balance sheet — $43.3B cash & investments
Insider sellingInsider selling — 8 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$324M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $98.9B2025-09-30 · $102.9B2025-12-31 · $105.7B2026-03-31 · $100.4B

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

45.0%

Operating margin

1.2%

Net margin

0.4%

Return on equity

2.4%

Return on assets

0.7%

Revenue growth (QoQ)

-5.0%

Net-income growth

-61.7%

Current ratio

0.8×

Free cash flow

$7.8B

EBITDA

$9.3B

Tangible book value

-$35.8B

Cash & investments

$43.3B

Stock comp / revenue

0.1%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-31	Newman Brian	Tax withheld	2.5K	$90.98
2026-05-31	Compton-Phillips Amy	Tax withheld	7.6K	$90.98
2026-05-21	AGUIRRE FERNANDO	Disposition	1.6K	$93.50
2026-05-21	ROBBINS LARRY	Sell	370K	$93.45
2026-05-20	ROBBINS LARRY	Sell	67K	$95.67
2026-05-20	ROBBINS LARRY	Sell	800	$96.28
2026-05-20	AGUIRRE FERNANDO	Disposition	30K	$93.78
2026-05-20	ROBBINS LARRY	Sell	798K	$93.48
2026-05-20	ROBBINS LARRY	Sell	153K	$94.81
2026-05-19	ROBBINS LARRY	Sell	151	$95.18
2026-05-19	ROBBINS LARRY	Sell	2.0M	$94.45
2026-05-14	AGUIRRE FERNANDO	Grant	1.6K	$97.15
2026-05-14	Balser Jeffrey R.	Grant	2.1K	$97.15
2026-05-14	KIRBY J SCOTT	Grant	1.4K	$97.15
2026-05-14	Norwalk Leslie V	Grant	1.4K	$97.15
2026-05-14	SANSONE GUY P	Grant	1.4K	$97.15
2026-05-14	BROWN C DAVID II	Grant	1.5K	$97.15
2026-05-08	Mandadi Tilak	Sell	70K	$89.58
2026-04-01	Khichi Samrat S.	Tax withheld	3.5K	$72.49
2026-04-01	Shah Prem S	Tax withheld	1.5K	$72.49
2026-04-01	Nelson Steven H	Tax withheld	2.4K	$72.49
2026-04-01	Mandadi Tilak	Tax withheld	3.6K	$72.49
2026-04-01	Joyner J. David	Tax withheld	8.0K	$72.49
2026-04-01	Clark James David	Tax withheld	3.3K	$72.49
2026-04-01	CAPOZZI HEIDI B	Tax withheld	1.3K	$72.49
2026-03-31	Newman Brian	Grant	19K	$71.82
2026-03-31	Khichi Samrat S.	Grant	13K	$71.82
2026-03-31	Joyner J. David	Grant	86K	$71.82
2026-03-31	Mandadi Tilak	Grant	22K	$71.82
2026-03-31	Compton-Phillips Amy	Grant	5.6K	$71.82
2026-03-31	Clark James David	Grant	11K	$71.82
2026-03-31	Shah Prem S	Grant	25K	$71.82
2026-03-31	CAPOZZI HEIDI B	Grant	10K	$71.82
2026-03-31	Nelson Steven H	Grant	22K	$71.82
2026-03-19	Gallina John E	Grant	582	$71.86
2026-02-28	Khichi Samrat S.	Tax withheld	7.9K	$79.60
2026-02-28	Joyner J. David	Tax withheld	1.9K	$79.90
2026-01-01	Shah Prem S	Tax withheld	247	$80.13
2025-12-01	Clark James David	Tax withheld	220	$79.10
2025-11-30	FARAH ROGER N	Tax withheld	9.7K	$80.36
2025-11-30	Mandadi Tilak	Tax withheld	6.6K	$80.36
2025-11-30	CAPOZZI HEIDI B	Tax withheld	9.5K	$80.36
2025-11-20	Finucane Anne A.	Grant	591	$76.04
2025-11-20	Shulman Douglas H.	Grant	1.7K	$76.04
2025-11-20	SANSONE GUY P	Grant	1.7K	$76.04
2025-11-20	Norwalk Leslie V	Grant	1.7K	$76.04
2025-11-20	KIRBY J SCOTT	Grant	1.7K	$76.04
2025-11-20	BROWN C DAVID II	Grant	1.8K	$76.04
2025-11-20	Balser Jeffrey R.	Grant	1.8K	$76.04
2025-11-20	AGUIRRE FERNANDO	Grant	1.8K	$76.04
2025-08-31	Shah Prem S	Tax withheld	7.0K	$73.15
2025-08-31	Mandadi Tilak	Tax withheld	13K	$73.15
2025-08-20	Finucane Anne A.	Sell	7.5K	$71.02
2025-06-05	SANSONE GUY P	Buy	1.6K	$63.70
2025-05-31	Newman Brian	Grant	22K	$64.04
2025-05-31	Compton-Phillips Amy	Grant	47K	$64.04
2025-05-31	Compton-Phillips Amy	Grant	6.2K	$64.04
2025-05-15	BROWN C DAVID II	Grant	2.2K	$60.47
2025-05-15	Balser Jeffrey R.	Grant	2.2K	$60.47
2025-05-15	AGUIRRE FERNANDO	Grant	2.3K	$60.47
2025-05-15	Shulman Douglas H.	Grant	2.1K	$60.47
2025-05-15	SANSONE GUY P	Grant	2.1K	$60.47
2025-05-15	Norwalk Leslie V	Grant	2.1K	$60.47
2025-05-15	Mahoney Michael F	Grant	144	$60.47
2025-05-15	KIRBY J SCOTT	Grant	2.8K	$60.47
2025-05-15	Finucane Anne A.	Grant	692	$60.47
2025-05-06	ROBBINS LARRY	Sell	150K	$66.67
2025-05-05	ROBBINS LARRY	Sell	1.2M	$67.37
2025-05-05	ROBBINS LARRY	Sell	97K	$67.99
2025-05-02	ROBBINS LARRY	Sell	223K	$68.38
2025-05-02	ROBBINS LARRY	Sell	374K	$69.66
2025-05-02	ROBBINS LARRY	Sell	1.7M	$67.39
2025-04-01	Mandadi Tilak	Tax withheld	995	$67.98
2025-04-01	Joyner J. David	Grant	53K	—
2025-04-01	Shah Prem S	Tax withheld	1.3K	$67.98
2025-04-01	Shah Prem S	Grant	26K	$67.98
2025-04-01	Nelson Steven H	Grant	21K	$67.98
2025-04-01	Khichi Samrat S.	Tax withheld	1.5K	$67.98
2025-04-01	Khichi Samrat S.	Grant	16K	$67.98
2025-04-01	Joyner J. David	Tax withheld	1.8K	$67.98
2025-04-01	COWHEY THOMAS F.	Tax withheld	3.2K	$67.98
2025-04-01	COWHEY THOMAS F.	Grant	16K	$67.98
2025-04-01	Clark James David	Tax withheld	2.3K	$67.98
2025-04-01	Clark James David	Grant	15K	$67.98
2025-04-01	CAPOZZI HEIDI B	Grant	12K	$67.98
2025-04-01	Mandadi Tilak	Grant	21K	$67.98
2025-03-17	Shah Prem S	Option exercise	846	$62.21
2025-03-05	Clark James David	Option exercise	7.5K	$62.21
2025-03-05	Clark James David	Sell	7.5K	$66.35
2025-02-28	Khichi Samrat S.	Tax withheld	5.6K	$65.72
2025-02-28	Joyner J. David	Tax withheld	1.9K	$65.72
2025-02-28	COWHEY THOMAS F.	Tax withheld	5.3K	$65.72
2025-02-18	Mahoney Michael F	Buy	30K	$66.70
2025-01-23	Nelson Steven H	Buy	24	$53.70

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (0)

Suppliers (3)

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-05-18	Exec/director changeShareholder vote	filing ↗
2026-05-06	ResultsExhibits	filing ↗
2026-03-19	Exec/director change	filing ↗
2026-02-10	ResultsExhibits	filing ↗
2025-12-09	Reg FDExhibits	filing ↗
2025-11-20	OtherExhibits	filing ↗
2025-10-29	ResultsExhibits	filing ↗
2025-09-22	OtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-05-18	2026-05-14	0000064803-26-000082 ↗
8-K	2026-05-06	2026-05-06	0000064803-26-000051 ↗
10-Q	2026-05-06	2026-03-31	0000064803-26-000052 ↗
8-K	2026-03-19	2026-03-18	0000064803-26-000017 ↗
10-K	2026-02-10	2025-12-31	0000064803-26-000010 ↗
8-K	2026-02-10	2026-02-10	0000064803-26-000009 ↗
8-K	2025-12-09	2025-12-09	0000064803-25-000082 ↗
8-K	2025-11-20	2025-11-20	0001193125-25-289805 ↗
8-K	2025-10-29	2025-10-29	0000064803-25-000036 ↗
10-Q	2025-10-29	2025-09-30	0000064803-25-000037 ↗
8-K	2025-09-22	2025-09-22	0001193125-25-211349 ↗
8-K	2025-08-15	2025-08-11	0001193125-25-181862 ↗