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Held by 1,795 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $90.27 today, the market must believe free cash flow compounds 1.8%/yr for a decade (off $8.2B normalized FCF).
The market's 1.8% is more optimistic than its 9-yr track record.
2-stage DCF · 1.27B shares · net debt -$8.5B
mean 3.9% · volatility σ 30% · implied rate exceeded in 5/9 yrs
Central path = implied 1.8%/yr growth; shaded band = ±1σ (30%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $402.07B 100.0% | $372.81B 100.0% | $357.78B 100.0% | $322.47B 100.0% | $292.11B 100.0% | $268.71B 100.0% | $256.78B 100.0% | $194.58B 100.0% | $184.79B 100.0% | $177.55B 100.0% |
| Cost of Revenue | $221.17B 55.0% | $206.29B 55.3% | $217.10B 60.7% | $196.89B 61.1% | $175.80B 60.2% | $163.98B 61.0% | $158.72B 61.8% | $156.45B 80.4% | $156.22B 84.5% | $148.67B 83.7% |
| Gross Profit | — | — | — | — | — | — | — | — | $28.55B 15.4% | $28.86B 16.3% |
| Total Operating Expenses | $397.41B 98.8% | $364.29B 97.7% | $344.03B 96.2% | $314.51B 97.5% | $278.80B 95.4% | $254.79B 94.8% | $33.54B 13.1% | $21.37B 11.0% | $18.81B 10.2% | $18.45B 10.4% |
| Operating Income | $4.66B 1.2% | $8.52B 2.3% | $13.74B 3.8% | $7.95B 2.5% | $13.31B 4.6% | $13.91B 5.2% | $11.99B 4.7% | $4.02B 2.1% | $9.54B 5.2% | $10.39B 5.8% |
| Interest Expense | $3.12B 0.8% | $2.96B 0.8% | $2.66B 0.7% | $2.29B 0.7% | $2.50B 0.9% | $2.91B 1.1% | $3.04B 1.2% | $2.62B 1.3% | $1.06B 0.6% | $1.08B 0.6% |
| Interest & Investment Income | — | — | — | — | — | — | — | — | $21.0M 0.0% | $20.0M 0.0% |
| Other Income (Expense), net | $112.0M 0.0% | $99.0M 0.0% | $88.0M 0.0% | $169.0M 0.1% | $182.0M 0.1% | $206.0M 0.1% | $124.0M 0.0% | $4.0M 0.0% | -$208.0M -0.1% | -$28.0M -0.0% |
| Pretax Income | $2.14B 0.5% | $6.15B 1.6% | $11.17B 3.1% | $5.84B 1.8% | $10.54B 3.6% | $9.77B 3.6% | $9.00B 3.5% | $1.41B 0.7% | $8.27B 4.5% | $8.64B 4.9% |
| Income Tax Expense | $408.0M 0.1% | $1.56B 0.4% | $2.81B 0.8% | $1.51B 0.5% | $2.55B 0.9% | $2.57B 1.0% | $2.37B 0.9% | $2.00B 1.0% | $1.64B 0.9% | $3.32B 1.9% |
| Net Income | $1.77B 0.4% | $4.61B 1.2% | $8.34B 2.3% | $4.31B 1.3% | $8.00B 2.7% | $7.18B 2.7% | $6.63B 2.6% | -$594.0M -0.3% | $6.62B 3.6% | $5.32B 3.0% |
| Per Share | ||||||||||
| EPS (Basic) | $1.40 | $3.67 | $6.49 | $3.29 | $6.07 | $5.48 | $5.10 | $-0.57 | $6.47 | $4.93 |
| EPS (Diluted) | $1.39 | $3.66 | $6.47 | $3.26 | $6.02 | $5.46 | $5.08 | $-0.57 | $6.44 | $4.90 |
| Weighted Avg Shares (Basic) | 1.27B | 1.26B | 1.28B | 1.31B | 1.32B | 1.31B | 1.30B | 1.04B | 1.02B | 1.07B |
| Weighted Avg Shares (Diluted) | 1.27B | 1.26B | 1.29B | 1.32B | 1.33B | 1.31B | 1.30B | 1.04B | 1.02B | 1.08B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 44% of free cash flow, leaving room to grow it and fund buybacks. Last year: $3.4B dividends + $0 buybacks = $3.4B returned on $7.8B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 2%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $8.5B covers the $4.0B due within a year 2.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash of $8.5B fully covers short-term debt of $0.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 72th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 80.4 | 61.8 | 61.0 | 60.2 | 61.1 | 60.7 | 55.3 | 55.0 |
| Operating Income | 2.1 | 4.7 | 5.2 | 4.6 | 2.5 | 3.8 | 2.3 | 1.2 |
| Income Tax | 1.0 | 0.9 | 1.0 | 0.9 | 0.5 | 0.8 | 0.4 | 0.1 |
| Net Income | -0.3 | 2.6 | 2.7 | 2.7 | 1.3 | 2.3 | 1.2 | 0.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CVS: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
Peers = companies sharing CVS's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.