CVS Health Corporation (CVS)

CVS Health Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	4,531	4,614	8,344	4,311	8,001	7,179
Depreciation & Amortization	4,633	4,597	4,366	4,224	4,486	4,441
Loss (Gain) From Sale of Assets	236	-	349	2,058	-	-269
Asset Writedown & Restructuring Costs	840	840	152	-	1,789	-
Stock-Based Compensation	532	540	588	447	484	400
Other Operating Activities	-1,549	-1,593	-388	-1,681	-352	955
Change in Accounts Receivable	-8,238	-1,301	-6,260	-2,971	-2,703	-1,510
Change in Inventory	-1,368	-102	1,233	-1,435	735	-973
Change in Accounts Payable	4,975	2,335	3,618	4,260	2,898	2,769
Change in Other Net Operating Assets	2,976	-823	1,424	6,964	2,927	2,873
Operating Cash Flow	7,568	9,107	13,426	16,177	18,265	15,865
Operating Cash Flow Growth	-6.24%	-32.17%	-17.01%	-11.43%	15.13%	23.48%
Capital Expenditures	-2,788	-2,781	-3,031	-2,727	-2,520	-2,437
Cash Acquisitions	-161	-95	-16,612	-139	-146	-866
Divestitures	-	-	-	-1,249	-	840
Investment in Securities	-2,795	-4,838	-1,314	-1,017	-2,717	-3,172
Other Investing Activities	64	101	68	85	122	101
Investing Cash Flow	-5,680	-7,613	-20,889	-5,047	-5,261	-5,534
Short-Term Debt Issued	-	1,919	5,200	-	-	-
Long-Term Debt Issued	-	7,913	10,898	-	987	9,958
Total Debt Issued	5,794	9,832	16,098	-	987	9,958
Short-Term Debt Repaid	-	-	-5,000	-	-	-
Long-Term Debt Repaid	-	-4,773	-3,166	-4,211	-10,254	-15,631
Total Debt Repaid	-5,298	-4,773	-8,166	-4,211	-10,254	-15,631
Net Debt Issued (Repaid)	496	5,059	7,932	-4,211	-9,267	-5,673
Issuance of Common Stock	324	361	277	551	549	264
Repurchase of Common Stock	-133	-3,208	-2,193	-3,870	-168	-88
Common Dividends Paid	-3,381	-3,373	-3,132	-2,907	-2,625	-2,624
Other Financing Activities	11	26	-201	-79	155	425
Financing Cash Flow	-2,683	-1,135	2,683	-10,516	-11,356	-7,696
Net Cash Flow	-795	359	-4,780	614	1,648	2,635
Free Cash Flow	4,780	6,326	10,395	13,450	15,745	13,428
Free Cash Flow Growth	-9.35%	-39.14%	-22.71%	-14.58%	17.26%	29.23%
Free Cash Flow Margin	1.24%	1.71%	2.92%	4.18%	5.41%	5.01%
Free Cash Flow Per Share	3.78	5.01	8.06	10.17	11.85	10.22
Cash Interest Paid	3,001	2,909	2,418	2,239	2,469	2,904
Cash Income Tax Paid	1,837	1,703	3,524	4,116	3,195	2,929
Levered Free Cash Flow	5,829	6,909	11,075	11,935	14,783	12,871
Unlevered Free Cash Flow	7,741	8,758	12,737	13,365	16,347	14,687
Change in Working Capital	-1,655	109	15	6,818	3,857	3,159

Updated Jul 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q