CVS Health Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,768	4,614	8,344	4,311	8,001
Depreciation & Amortization	4,606	4,597	4,366	4,224	4,486
Loss (Gain) From Sale of Assets	-247	-	349	2,058	-
Asset Writedown & Restructuring Costs	5,725	840	152	-	1,789
Stock-Based Compensation	535	540	588	447	484
Other Operating Activities	-274	-1,593	-388	-1,681	-352
Change in Accounts Receivable	-3,498	-1,301	-6,260	-2,971	-2,703
Change in Inventory	-1,267	-102	1,233	-1,435	735
Change in Accounts Payable	3,855	2,335	3,618	4,260	2,898
Change in Other Net Operating Assets	-564	-823	1,424	6,964	2,927
Operating Cash Flow	10,639	9,107	13,426	16,177	18,265
Operating Cash Flow Growth	16.82%	-32.17%	-17.01%	-11.43%	15.13%
Capital Expenditures	-2,832	-2,781	-3,031	-2,727	-2,520
Cash Acquisitions	-436	-95	-16,612	-139	-146
Divestitures	-	-	-	-1,249	-
Investment in Securities	-2,629	-4,838	-1,314	-1,017	-2,717
Other Investing Activities	26	101	68	85	122
Investing Cash Flow	-5,871	-7,613	-20,889	-5,047	-5,261
Short-Term Debt Issued	-	1,919	5,200	-	-
Long-Term Debt Issued	3,969	7,913	10,898	-	987
Total Debt Issued	3,969	9,832	16,098	-	987
Short-Term Debt Repaid	-2,119	-	-5,000	-	-
Long-Term Debt Repaid	-3,629	-4,773	-3,166	-4,211	-10,254
Total Debt Repaid	-5,748	-4,773	-8,166	-4,211	-10,254
Net Debt Issued (Repaid)	-1,779	5,059	7,932	-4,211	-9,267
Issuance of Common Stock	394	361	277	551	549
Repurchase of Common Stock	-158	-3,208	-2,193	-3,870	-168
Common Dividends Paid	-3,397	-3,373	-3,132	-2,907	-2,625
Other Financing Activities	-	26	-201	-79	155
Financing Cash Flow	-4,940	-1,135	2,683	-10,516	-11,356
Net Cash Flow	-172	359	-4,780	614	1,648
Free Cash Flow	7,807	6,326	10,395	13,450	15,745
Free Cash Flow Growth	23.41%	-39.14%	-22.71%	-14.58%	17.26%
Free Cash Flow Margin	1.95%	1.71%	2.92%	4.18%	5.41%
Free Cash Flow Per Share	6.14	5.01	8.06	10.17	11.85
Cash Interest Paid	2,991	2,909	2,418	2,239	2,469
Cash Income Tax Paid	2,166	1,703	3,524	4,116	3,195
Levered Free Cash Flow	5,930	6,909	11,075	11,935	14,783
Unlevered Free Cash Flow	7,879	8,758	12,737	13,365	16,347
Change in Working Capital	-1,474	109	15	6,818	3,857

Source: S&P Global Market Intelligence. Standard template. Financial Sources.