Question 1

What is CVS Health's P/E ratio?

Accepted Answer

CVS Health (CVS) P/E ratio is 41.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for CVS Health?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For CVS Health specifically, the relevant sector benchmark is the current sector median of 25.0×.

Question 5

Is CVS Health's P/E ratio high or low?

Accepted Answer

CVS Health's P/E ratio of 41.8× is above its own 5-year average of 30.1× and above the sector median of 25.0×. That places the current reading at the 89th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is CVS Health's historical P/E ratio range?

Accepted Answer

In the available daily series, CVS Health (CVS) P/E ratio has ranged from a low of 9.3× in 2024 to a high of 226.9× in 2026. The 5-year average is 30.1× and the 5-year median is 16.3×.

Question 7

What was CVS Health's P/E ratio in 2025?

Accepted Answer

CVS Health (CVS) P/E ratio at the end of 2025 was 57.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does CVS Health's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$100.79B	$1.77B	57.0×	+44.8×	Dec 31, 2025
2024	$56.52B	$4.61B	12.2×	+0.1×	Dec 31, 2024
2023	$101.70B	$8.34B	12.2×	-16.3×	Dec 31, 2023
2022	$122.08B	$4.28B	28.5×	+11.3×	Dec 31, 2022
2021	$136.38B	$7.91B	17.2×	+4.8×	Dec 31, 2021
2020	$89.54B	$7.18B	12.5×	-2.1×	Dec 31, 2020
2019	$96.80B	$6.63B	14.6×	—	Dec 31, 2019
2018	$73.10B	−$594.00M	—	—	Dec 31, 2018
2017	$73.52B	$6.62B	11.1×	-4.7×	Dec 31, 2017
2016	$83.96B	$5.32B	15.8×	-4.9×	Dec 31, 2016
2015	$108.23B	$5.24B	20.7×	-2.7×	Dec 31, 2015
2014	$108.64B	$4.64B	23.4×	+4.8×	Dec 31, 2014
2013	$85.31B	$4.59B	18.6×	+3.1×	Dec 31, 2013
2012	$60.00B	$3.88B	15.5×	+0.2×	Dec 31, 2012
2011	$52.97B	$3.46B	15.3×	+1.5×	Dec 31, 2011
2010	$47.36B	$3.43B	13.8×	+1.7×	Dec 31, 2010
2009	$44.64B	$3.69B	12.1×	-0.8×	Dec 31, 2009
2008	$41.35B	$3.21B	12.9×	-8.8×	Dec 31, 2008
2007	$57.27B	$2.64B	21.7×	+3.1×	Dec 31, 2007
2006	$25.49B	$1.37B	18.6×	+1.0×	Dec 31, 2006
2005	$21.52B	$1.22B	17.6×	-2.4×	Dec 31, 2005
2004	$18.36B	$918.80M	20.0×	+2.5×	Dec 31, 2004
2003	$14.85B	$847.30M	17.5×	+3.8×	Dec 31, 2003
2002	$9.81B	$716.60M	13.7×	-13.9×	Dec 31, 2002
2001	$11.39B	$413.10M	27.6×	—	Dec 31, 2001


Medtronic (MDT)	22.2×
McKesson (MCK)	22.2×
Illumina (ILMN)	21.7×
ResMed (RMD)	21.6×
GE HealthCare (GEHC)	21.6×
Pfizer (PFE)	21.1×
Quest Diagnostics (DGX)	21.1×
Henry Schein (HSIC)	21.0×
AptarGroup (ATR)	20.9×
IQVIA (IQV)	20.7×
UnitedHealth Group (UNH)	20.4×
Biogen (BIIB)	19.7×
Zoetis (ZTS)	18.9×
Gilead Sciences (GILD)	18.8×
Humana (HUM)	18.5×
Regeneron Pharmaceuticals (REGN)	18.2×
Bristol-Myers Squibb (BMY)	17.0×
HCA Healthcare (HCA)	15.8×
DaVita (DVA)	13.3×
Incyte (INCY)	13.1×
Elevance Health (ELV)	12.3×
Cigna (CI)	11.1×
Novo Nordisk (NVO)	8.6×
Solventum (SOLV)	7.9×
Universal Health Services (UHS)	7.2×

P/E Ratio for CVS Health (CVS)

P/E Ratio daily chart for CVS Health (CVS)

Historical P/E Ratio for CVS Health (CVS) from 2001 to 2025

About P/E Ratio at CVS Health (CVS)

CVS Health P/E Ratio by Year

CVS Health P/E Ratio 2025: 57.0×

CVS Health P/E Ratio 2024: 12.2×

CVS Health P/E Ratio 2023: 12.2×

CVS Health P/E Ratio 2022: 28.5×

CVS Health P/E Ratio 2021: 17.2×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

CVS Health (CVS) Key Financials

P/E Ratio daily chart for CVS Health (CVS)

Historical P/E Ratio for CVS Health (CVS) from 2001 to 2025

About P/E Ratio at CVS Health (CVS)

CVS Health P/E Ratio by Year

CVS Health P/E Ratio 2025: 57.0×

CVS Health P/E Ratio 2024: 12.2×

CVS Health P/E Ratio 2023: 12.2×

CVS Health P/E Ratio 2022: 28.5×

CVS Health P/E Ratio 2021: 17.2×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is CVS Health's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for CVS Health?

+Is CVS Health's P/E ratio high or low?

+What is CVS Health's historical P/E ratio range?

+What was CVS Health's P/E ratio in 2025?

+Why does CVS Health's P/E ratio change over time?

CVS Health (CVS) Key Financials