CVS Health Corporation (CVS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 4.25B | 3.39B | 796M | 1.9B | 4.56B | 1.86B | -745M | 3.09B | 4.9B | -2.64B | 2.72B | 5.91B | 7.44B | -1.95B | 9.12B | 5.44B | 3.56B | 4B | 5.52B | 5.85B |
| Operating CF Margin % | 4.23% | 3.21% | 0.77% | 1.92% | 4.82% | 1.9% | -0.78% | 3.39% | 5.54% | -2.81% | 3.03% | 6.64% | 8.72% | -2.33% | 11.24% | 6.75% | 4.64% | 5.23% | 7.48% | 8.05% |
| Operating CF Growth % | -6.74% | 82.26% | 206.85% | -38.59% | -7.08% | 170.56% | -127.43% | -47.72% | -34.08% | -35.04% | -70.23% | 8.54% | 108.76% | -148.74% | 65.24% | -6.91% | 23.2% | 12.28% | 194.61% | -17.87% |
| Net Income | 2.96B | 2.94B | -2.8B | 1.02B | 1.78B | 1.62B | 71M | 1.77B | 1.12B | 2.05B | 2.27B | 1.91B | 2.14B | 2.3B | -3.4B | 3.04B | 2.35B | 1.3B | 1.59B | 2.79B |
| Depreciation & Amortization | 1.11B | 1.15B | -2.33B | 1.17B | 1.15B | 1.15B | 1.16B | 1.15B | 1.14B | 1.13B | 1.13B | 1.1B | 1B | 1.05B | 1.05B | 1.08B | 1.05B | 1.11B | 1.13B | 1.14B |
| Stock-Based Compensation | 266M | 0 | -126M | 136M | 126M | 137M | 133M | 133M | 137M | 127M | 154M | 204M | 103M | 106M | 105M | 147M | 89M | 138M | 114M | 145M |
| Deferred Taxes | -91M | 542M | 283M | -114M | -169M | 340M | -571M | -124M | -217M | -316M | -250M | -68M | 155M | 175M | -1.97B | -71M | -175M | 217M | -275M | -204M |
| Other Non-Cash Items | 0 | -221M | 7.33B | -8M | 239M | -993M | 840M | 0 | 0 | 416M | 152M | 0 | 0 | 94M | 2.52B | -225M | 0 | 1.06B | 794M | 0 |
| Working Capital Changes | 2M | -1.02B | -1.57B | -309M | 1.43B | -394M | -2.38B | 161M | 2.72B | -6.04B | -732M | 2.75B | 4.04B | -5.68B | 10.81B | 1.47B | 245M | 182M | 2.17B | 1.98B |
| Change in Receivables | -1.21B | 4.04B | -3.4B | -1.09B | -3.05B | -315M | -3.78B | -210M | 3.01B | -2.34B | -3.12B | -53M | -751M | -962M | 678M | -720M | -1.97B | 801M | -1.12B | -291M |
| Change in Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Change in Payables | -562M | -1.92B | 1.99B | 814M | 2.98B | 166M | 978M | 2.6B | -1.41B | 1.15B | 2.58B | 1.08B | -1.2B | 910M | 1.32B | 59M | 1.97B | -1.07B | 2.27B | 1.13B |
| Cash from Investing | -874M | -2B | -2.09B | -1.02B | -762M | -547M | -3.35B | -1.63B | -2.09B | -1.24B | -771M | -10.36B | -8.51B | -119M | -805M | -2.13B | -1.99B | -1.44B | -847M | -1.11B |
| Capital Expenditures | -849M | -784M | -698M | -607M | -743M | -768M | -670M | -638M | -705M | -911M | -545M | -591M | -984M | -688M | -580M | -408M | -1.05B | -597M | -608M | -486M |
| CapEx % of Revenue | 0.85% | 0.74% | 0.68% | 0.61% | 0.79% | 0.79% | 0.7% | 0.7% | 0.8% | 0.97% | 0.61% | 0.66% | 1.15% | 0.82% | 0.71% | 0.51% | 1.37% | 0.78% | 0.82% | 0.67% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 7M | 17M | -443M | 4M | 19M | 26M | 15M | 32M | 28M | 25M | 11M | 1M | 31M | 11M | 20M | 85M | -31M | 27M | 23M | 72M |
| Cash from Financing | -2.32B | -2.03B | -1.38B | 806M | -2.33B | 431M | -1.59B | 1.25B | -1.23B | -972M | -2.7B | 3.63B | 2.73B | -2.19B | -3.22B | -2.46B | -2.65B | -2.83B | -1.93B | -3.33B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 103M | 86M | 117M | 47M | 0 | 0 | 1M | 3M | -3.03B | 1M | 3M | 2M | -2.02B | -1.5B | 0 | 0 | -2B | 0 | 0 | 0 |
| Dividends Paid | -847M | -845M | -846M | -866M | -840M | -838M | -837M | -858M | -840M | -779M | -779M | -795M | -779M | -719M | -726M | -740M | -722M | -660M | -659M | -650M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 3M | -3.03B | 1M | 3M | 2M | -2.02B | -1.5B | 0 | 0 | -2B | 0 | 0 | 0 |
| Other Financing | -56M | -6M | 18M | -136M | 110M | 63M | 117M | -117M | 139M | 38M | 26M | -103M | -66M | 48M | 174M | -206M | 86M | 260M | 142M | -51M |
| Net Change in Cash | 1.06B | -702M | -2.67B | 1.68B | 1.46B | 1.74B | -5.68B | 2.71B | 1.58B | -4.85B | -752M | -828M | 1.65B | -4.26B | 5.1B | 852M | -1.08B | 2.65B | 2.74B | 1.41B |
| Free Cash Flow | 3.4B | 2.61B | 98M | 1.29B | 3.81B | 1.09B | -1.42B | 2.45B | 4.2B | -3.55B | 2.17B | 5.32B | 6.45B | -2.64B | 8.54B | 5.04B | 2.51B | 3.41B | 4.91B | 5.36B |
| FCF Margin % | 3.39% | 2.47% | 0.1% | 1.3% | 4.03% | 1.12% | -1.48% | 2.69% | 4.75% | -3.78% | 2.42% | 5.98% | 7.57% | -3.15% | 10.53% | 6.24% | 3.27% | 4.45% | 6.66% | 7.38% |
| FCF Growth % | -10.83% | 138.64% | 106.93% | -47.37% | -9.17% | 130.79% | -165.18% | -53.9% | -34.96% | -34.36% | -74.59% | 5.6% | 156.93% | -177.46% | 73.89% | -6.08% | 21.76% | 19.41% | 266.64% | -19.64% |
| FCF per Share | 2.66 | 2.04 | 0.08 | 1.02 | 3.02 | 0.87 | -1.12 | 1.95 | 3.31 | -2.74 | 1.68 | 4.13 | 5.00 | -2.00 | 6.50 | 3.81 | 1.89 | 2.55 | 3.70 | 4.04 |
| FCF Conversion (FCF/Net Income) | 1.44x | 1.15x | -0.20x | 1.86x | 2.56x | 1.13x | -8.56x | 1.75x | 4.41x | -1.29x | 1.20x | 3.11x | 3.48x | -0.85x | -2.68x | 1.80x | 1.51x | 3.07x | 3.45x | 2.10x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |