CVS Health Corporation (CVS)

CVS Health Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	5,880	1,728	4,586	8,368	4,327	7,989
Depreciation & Amortization	2,262	4,606	4,597	4,366	4,224	4,486
Stock-Based Compensation	401	535	540	588	447	484
Other Adjustments	451	5,244	-725	89	361	1,449
Change in Receivables	2,834	-3,498	-1,301	-6,260	-2,971	-2,703
Changes in Inventories	1,191	-1,267	-102	1,233	-1,435	735
Changes in Accounts Payable	-1,759	3,855	2,335	3,618	4,260	2,898
Changes in Other Operating Activities	-3,285	-564	-823	1,424	6,964	2,927
Operating Cash Flow	10,332	10,639	9,107	13,426	16,177	18,265
Operating Cash Flow Growth	17.95%	16.82%	-32.17%	-17.01%	-11.43%	15.13%
Capital Expenditures	-2,938	-2,832	-2,781	-3,031	-2,727	-2,520
Purchases of Investments	-15,646	-15,012	-15,191	-9,043	-7,746	-9,963
Proceeds from Sale of Investments	13,008	12,383	10,353	7,729	6,729	7,246
Payments for Business Acquisitions	-421	-436	-95	-16,612	-139	-146
Proceeds from Business Divestments	-	-	-	-	-1,249	-
Other Investing Activities	14	26	101	68	85	122
Investing Cash Flow	-5,983	-5,871	-7,613	-20,889	-5,047	-5,261
Short-Term Debt Issued	-1,260	-2,119	1,919	5,200	-	-
Short-Term Debt Repaid	-	-	-	-5,000	-	-
Net Short-Term Debt Issued (Repaid)	-1,260	-2,119	1,919	200	-	-
Long-Term Debt Issued	3,969	3,969	7,913	10,898	-	987
Long-Term Debt Repaid	-4,404	-3,629	-4,773	-3,166	-4,211	-10,254
Net Long-Term Debt Issued (Repaid)	-435	340	3,140	7,732	-4,211	-9,267
Issuance of Common Stock	353	394	361	277	551	549
Repurchase of Common Stock	-156	-158	-3,208	-2,193	-3,870	-168
Net Common Stock Issued (Repurchased)	197	236	-2,847	-1,916	-3,319	381
Common Dividends Paid	-3,404	-3,397	-3,373	-3,132	-2,907	-2,625
Other Financing Activities	-24	-	26	-201	-79	155
Financing Cash Flow	-4,926	-4,940	-1,135	2,683	-10,516	-11,356
Net Cash Flow	-577	-172	359	-4,780	614	1,648
Free Cash Flow	7,394	7,807	6,326	10,395	13,450	15,745
Free Cash Flow Growth	-5.29%	23.41%	-39.14%	-22.71%	-14.58%	17.26%
FCF Margin	1.81%	1.94%	1.70%	2.91%	4.17%	5.39%
Free Cash Flow Per Share	5.80	6.14	5.01	8.06	10.17	11.85
Levered Free Cash Flow	-3,292	3,787	12,899	23,886	11,386	7,260
Unlevered Free Cash Flow	480.92	7,568	9,578	17,903	17,183	18,617

Updated May 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q