CVS Health Corp (CVS) - Net Assets
Based on the latest financial reports, CVS Health Corp (CVS) has net assets worth $75.38 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($261.06 Billion) and total liabilities ($185.68 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of CVS Health Corp to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $75.38 Billion |
| % of Total Assets | 28.87% |
| Annual Growth Rate | 11.14% |
| 5-Year Change | N/A |
| 10-Year Change | 104.65% |
| Growth Volatility | 34.77 |
CVS Health Corp - Net Assets Trend (1985–2025)
This chart illustrates how CVS Health Corp's net assets have evolved over time, based on quarterly financial data. Also explore CVS Health Corp assets under control for the complete picture of this company's asset base.
Annual Net Assets for CVS Health Corp (1985–2025)
The table below shows the annual net assets of CVS Health Corp from 1985 to 2025. For live valuation and market cap data, see CVS market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $75.38 Billion | -0.46% |
| 2024-12-31 | $75.73 Billion | -1.18% |
| 2023-12-31 | $76.64 Billion | +6.78% |
| 2022-12-31 | $71.77 Billion | -4.79% |
| 2021-12-31 | $75.38 Billion | +8.15% |
| 2020-12-31 | $69.70 Billion | +8.62% |
| 2019-12-31 | $64.17 Billion | +9.61% |
| 2018-12-31 | $58.54 Billion | +55.31% |
| 2017-12-31 | $37.70 Billion | +2.34% |
| 2016-12-31 | $36.83 Billion | -0.99% |
| 2015-12-31 | $37.20 Billion | -2.00% |
| 2014-12-31 | $37.96 Billion | +0.07% |
| 2013-12-31 | $37.94 Billion | +0.76% |
| 2012-12-31 | $37.65 Billion | -1.05% |
| 2011-12-31 | $38.05 Billion | +0.84% |
| 2010-12-31 | $37.73 Billion | +5.50% |
| 2009-12-31 | $35.77 Billion | +3.45% |
| 2008-12-31 | $34.57 Billion | +10.38% |
| 2007-12-31 | $31.32 Billion | +215.82% |
| 2006-12-31 | $9.92 Billion | +19.04% |
| 2005-12-31 | $8.33 Billion | +19.24% |
| 2004-12-31 | $6.99 Billion | +16.03% |
| 2003-12-31 | $6.02 Billion | +15.87% |
| 2002-12-31 | $5.20 Billion | +13.80% |
| 2001-12-31 | $4.57 Billion | +6.09% |
| 2000-12-31 | $4.30 Billion | +16.98% |
| 1999-12-31 | $3.68 Billion | +18.28% |
| 1998-12-31 | $3.11 Billion | +18.99% |
| 1997-12-31 | $2.61 Billion | +19.04% |
| 1996-12-31 | $2.20 Billion | +33.69% |
| 1995-12-31 | $1.64 Billion | -34.06% |
| 1994-12-31 | $2.49 Billion | +6.38% |
| 1993-12-31 | $2.34 Billion | +7.53% |
| 1992-12-31 | $2.18 Billion | -0.86% |
| 1991-12-31 | $2.20 Billion | +12.16% |
| 1990-12-31 | $1.96 Billion | +13.80% |
| 1989-12-31 | $1.72 Billion | +0.88% |
| 1988-12-31 | $1.71 Billion | +16.98% |
| 1987-12-31 | $1.46 Billion | +15.49% |
| 1986-12-31 | $1.26 Billion | +14.59% |
| 1985-12-31 | $1.10 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to CVS Health Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 5930.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $61.20 Billion | 81.36% |
| Common Stock | $18.00 Million | 0.02% |
| Other Comprehensive Income | $406.00 Million | 0.54% |
| Other Components | $13.59 Billion | 18.07% |
| Total Equity | $75.21 Billion | 100.00% |
CVS Health Corp Competitors by Market Cap
The table below lists competitors of CVS Health Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GSK PLC SP. ADR/2 NEW
F:GS70
|
$101.34 Billion |
|
UBS Group AG
SW:UBSG
|
$101.41 Billion |
|
Constellation Energy Corp
NASDAQ:CEG
|
$101.53 Billion |
|
Medtronic PLC
XETRA:2M6
|
$102.18 Billion |
|
Zijin Mining Group Co Ltd Class A
SHG:601899
|
$100.38 Billion |
|
Duke Energy Corporation
NYSE:DUK
|
$100.08 Billion |
|
Brookfield Corporation
TO:BN
|
$99.82 Billion |
|
McKesson Corporation
NYSE:MCK
|
$99.71 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CVS Health Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 75,560,000,000 to 75,214,000,000, a change of -346,000,000 (-0.5%).
- Net income of 1,768,000,000 contributed positively to equity growth.
- Dividend payments of 3,397,000,000 reduced retained earnings.
- Share repurchases of 394,000,000 reduced equity.
- Other comprehensive income increased equity by 526,000,000.
- Other factors increased equity by 1,151,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.77 Billion | +2.35% |
| Dividends Paid | $3.40 Billion | -4.52% |
| Share Repurchases | $394.00 Million | -0.52% |
| Other Comprehensive Income | $526.00 Million | +0.7% |
| Other Changes | $1.15 Billion | +1.53% |
| Total Change | $- | -0.46% |
Book Value vs Market Value Analysis
This analysis compares CVS Health Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.39x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 32.26x to 1.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $2.54 | $82.09 | x |
| 1986-12-31 | $2.92 | $82.09 | x |
| 1987-12-31 | $3.37 | $82.09 | x |
| 1988-12-31 | $3.92 | $82.09 | x |
| 1989-12-31 | $3.76 | $82.09 | x |
| 1990-12-31 | $4.52 | $82.09 | x |
| 1991-12-31 | $5.06 | $82.09 | x |
| 1992-12-31 | $4.94 | $82.09 | x |
| 1993-12-31 | $4.25 | $82.09 | x |
| 1994-12-31 | $5.64 | $82.09 | x |
| 1995-12-31 | $3.59 | $82.09 | x |
| 1996-12-31 | $5.15 | $82.09 | x |
| 1997-12-31 | $3.31 | $82.09 | x |
| 1998-12-31 | $3.84 | $82.09 | x |
| 1999-12-31 | $4.50 | $82.09 | x |
| 2000-12-31 | $5.39 | $82.09 | x |
| 2001-12-31 | $5.73 | $82.09 | x |
| 2002-12-31 | $6.41 | $82.09 | x |
| 2003-12-31 | $7.45 | $82.09 | x |
| 2004-12-31 | $8.50 | $82.09 | x |
| 2005-12-31 | $9.90 | $82.09 | x |
| 2006-12-31 | $11.62 | $82.09 | x |
| 2007-12-31 | $22.83 | $82.09 | x |
| 2008-12-31 | $23.54 | $82.09 | x |
| 2009-12-31 | $24.67 | $82.09 | x |
| 2010-12-31 | $27.38 | $82.09 | x |
| 2011-12-31 | $28.25 | $82.09 | x |
| 2012-12-31 | $29.42 | $82.09 | x |
| 2013-12-31 | $30.94 | $82.09 | x |
| 2014-12-31 | $32.47 | $82.09 | x |
| 2015-12-31 | $33.03 | $82.09 | x |
| 2016-12-31 | $34.13 | $82.09 | x |
| 2017-12-31 | $36.81 | $82.09 | x |
| 2018-12-31 | $55.77 | $82.09 | x |
| 2019-12-31 | $48.94 | $82.09 | x |
| 2020-12-31 | $52.81 | $82.09 | x |
| 2021-12-31 | $56.49 | $82.09 | x |
| 2022-12-31 | $54.02 | $82.09 | x |
| 2023-12-31 | $59.27 | $82.09 | x |
| 2024-12-31 | $59.87 | $82.09 | x |
| 2025-12-31 | $59.18 | $82.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CVS Health Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.35%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.44%
- • Asset Turnover: 1.54x
- • Equity Multiplier: 3.47x
- Recent ROE (2.35%) is below the historical average (11.18%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 19.07% | 4.40% | 2.64x | 1.64x | $99.98 Million |
| 1986 | 18.87% | 4.53% | 2.63x | 1.58x | $112.00 Million |
| 1987 | 19.57% | 4.81% | 2.66x | 1.53x | $139.54 Million |
| 1988 | 20.78% | 5.23% | 2.48x | 1.60x | $183.87 Million |
| 1989 | 24.57% | 5.27% | 2.49x | 1.87x | $236.10 Million |
| 1990 | 20.79% | 4.44% | 2.37x | 1.98x | $199.94 Million |
| 1991 | 16.58% | 3.51% | 2.42x | 1.95x | $137.54 Million |
| 1992 | 6.42% | 1.28% | 2.48x | 2.03x | $-74.39 Million |
| 1993 | 14.76% | 3.18% | 2.44x | 1.90x | $106.98 Million |
| 1994 | 12.90% | 2.72% | 2.38x | 1.99x | $69.21 Million |
| 1995 | -36.98% | -5.87% | 2.46x | 2.56x | $-727.71 Million |
| 1996 | 9.48% | 1.76% | 2.08x | 2.59x | $-11.44 Million |
| 1997 | 3.40% | 0.65% | 2.30x | 2.29x | $-172.66 Million |
| 1998 | 12.36% | 2.52% | 2.28x | 2.15x | $73.40 Million |
| 1999 | 17.26% | 3.51% | 2.49x | 1.98x | $267.13 Million |
| 2000 | 17.33% | 3.71% | 2.53x | 1.85x | $315.54 Million |
| 2001 | 9.05% | 1.86% | 2.58x | 1.89x | $-43.49 Million |
| 2002 | 13.79% | 2.96% | 2.51x | 1.86x | $196.90 Million |
| 2003 | 14.07% | 3.19% | 2.52x | 1.75x | $245.12 Million |
| 2004 | 13.15% | 3.00% | 2.10x | 2.08x | $220.08 Million |
| 2005 | 14.70% | 3.31% | 2.42x | 1.83x | $391.58 Million |
| 2006 | 13.80% | 3.12% | 2.13x | 2.07x | $377.14 Million |
| 2007 | 8.42% | 3.45% | 1.39x | 1.75x | $-495.19 Million |
| 2008 | 9.29% | 3.67% | 1.43x | 1.76x | $-245.40 Million |
| 2009 | 10.33% | 3.76% | 1.59x | 1.72x | $119.20 Million |
| 2010 | 9.09% | 3.58% | 1.54x | 1.65x | $-343.00 Million |
| 2011 | 9.10% | 3.23% | 1.66x | 1.70x | $-343.10 Million |
| 2012 | 10.26% | 3.14% | 1.86x | 1.76x | $98.70 Million |
| 2013 | 12.10% | 3.62% | 1.77x | 1.89x | $798.20 Million |
| 2014 | 12.23% | 3.33% | 1.88x | 1.95x | $848.20 Million |
| 2015 | 14.08% | 3.42% | 1.66x | 2.49x | $1.52 Billion |
| 2016 | 14.44% | 2.99% | 1.88x | 2.56x | $1.63 Billion |
| 2017 | 17.57% | 3.58% | 1.94x | 2.52x | $2.85 Billion |
| 2018 | -1.02% | -0.31% | 0.99x | 3.37x | $-6.42 Billion |
| 2019 | 10.39% | 2.58% | 1.15x | 3.48x | $247.60 Million |
| 2020 | 10.35% | 2.67% | 1.16x | 3.32x | $240.10 Million |
| 2021 | 10.66% | 2.74% | 1.25x | 3.10x | $493.50 Million |
| 2022 | 6.03% | 1.34% | 1.41x | 3.19x | $-2.84 Billion |
| 2023 | 10.91% | 2.33% | 1.43x | 3.27x | $697.90 Million |
| 2024 | 6.11% | 1.24% | 1.47x | 3.35x | $-2.94 Billion |
| 2025 | 2.35% | 0.44% | 1.54x | 3.47x | $-5.75 Billion |
Industry Comparison
This section compares CVS Health Corp's net assets metrics with peer companies in the Healthcare Plans industry.
Industry Context
- Industry: Healthcare Plans
- Average net assets among peers: $5,356,736,000
- Average return on equity (ROE) among peers: -58.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CVS Health Corp (CVS) | $75.38 Billion | 19.07% | 2.46x | $101.04 Billion |
| Alignment Healthcare LLC (ALHC) | $30.61 Million | -74.89% | 10.06x | $3.77 Billion |
| Cigna Corp (CI) | $4.52 Billion | 13.99% | 19.13x | $74.53 Billion |
| Clover Health Investments Corp (CLOV) | $308.70 Million | -27.71% | 0.75x | $1.00 Billion |
| Centene Corp (CNC) | $64.09 Million | 20.12% | 1.05x | $19.48 Billion |
| Elevance Health Inc (ELV) | $24.58 Billion | 12.59% | 1.11x | $63.54 Billion |
| Humana Inc (HUM) | $17.37 Billion | 7.04% | 0.15x | $22.79 Billion |
| Molina Healthcare Inc (MOH) | $64.76 Million | 46.52% | 1.31x | $6.97 Billion |
| Marpai Inc (MRAI) | $6.13 Million | -431.51% | 7.14x | $6.21 Million |
| NeueHealth Inc (NEUE) | $1.27 Billion | -93.04% | 1.83x | $60.94 Million |
About CVS Health Corp
CVS Health Corporation provides health solutions in the United States. The company operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. 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… Read more