Income StatementBalance SheetCash FlowSegments
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CVS Health Cash Flow Statement

Operating, investing, and financing cash movements

CVS Health generated $10.3B in operating cash flow over the trailing twelve months. After $2.9B in capital expenditures, free cash flow was $7.4B. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$10.3BNet Cash From Investing (TTM)-$6.0BNet Cash From Financing (TTM)$947.0MCapital Expenditures (TTM)$2.9BDepreciation And Amortization Cf (TTM)$4.6BNet Change In Cash (TTM)-$577.0M
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$118.99B
P/E Ratio40.58
ROE3.8%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Other non-cash income (expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Change in accounts payable$166.0M$2.6B$1.2B$1.2B—-$562.0M
Change in accounts receivable$315.0M$3.1B$1.1B$3.4B—$1.2B
Change in inventories$457.0M-$722.0M$51.0M$1.7B$285.0M-$1.5B
Change in other liabilities-$479.0M$1.9B—$1.1B—-$196.0M
Deferred income taxes-$143.0M$25.5M$25.5M$25.5M$25.5M—
Depreciation and amortization$1.1B$1.2B$1.2B$1.1B$1.1B$1.1B
Other Non-Cash Income (Expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Other Non-cash Income (Expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Other Non-cash Income (Expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Net cash from operating activities$1.9B$4.6B$1.9B$796.0M$3.4B$4.2B
Net income$1.6B$1.8B$1.0B-$4.0B$2.9B$3.0B
Other non-cash income (expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Deferred income taxes and other items—-$169.0M-$114.0M-$157.0M—-$91.0M
Increase (Decrease) in Other Operating Assets—$1.1B——$2.0B-$479.0M
Other Noncash Income (Expense)$125.5M$84.0M$84.0M$84.0M$84.0M—
Payments For Insurance Benefits$29.1B$28.5B$30.4B$29.9B$32.5B$28.4B
Payments For Inventory And Prescriptions Dispensed By Retail Network Pharmacies$52.3B$48.4B$52.8B$56.7B$58.6B$50.6B
Payments to Suppliers and Employees$9.9B$8.7B$9.9B$8.7B$10.3B$10.8B
Cash receipts from customers$93.5B$90.8B$95.7B$96.9B$105.8B$94.2B
Interest and investment income received$447.0M$497.0M$475.0M$522.0M$475.0M$526.0M
Other Non-cash Income and Expense$125.5M$84.0M$84.0M$84.0M$84.0M—
Other Non-Cash Adjustments$125.5M$84.0M$84.0M$84.0M$84.0M—
Other Non-Cash Income and Expense$125.5M$84.0M$84.0M$84.0M$84.0M—
Stock-based compensation$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$10.0M$20.0M$119.0M$290.0M$7.0M$5.0M
Capital expenditures$768.0M$743.0M$607.0M$698.0M$784.0M$849.0M
Payment for (Proceeds from) Other Investing Activity-$26.0M-$19.0M-$4.0M—-$17.0M-$7.0M
Net cash from investing activities-$547.0M-$762.0M-$1.0B-$2.1B-$2.0B-$874.0M
Purchases of investments$2.5B$3.6B$3.6B$3.9B$4.0B$4.2B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$3.1B$743.0M$19.0M$2.8B$20.0M$1.5B
Dividends paid$838.0M$840.0M$866.0M$846.0M$845.0M$847.0M
Other, net$48.0M-$23.0M-$22.0M$38.0M$7.0M-$47.0M
Proceeds from (repayments of) short-term borrowings, net$1.3B-$859.0M$1.8B-$1.8B-$1.2B$0.0
Payment of Deferred Purchase Consideration$48.0M-$23.0M-$22.0M$38.0M$7.0M-$47.0M
Noncontrolling interest transactions and other$48.0M-$23.0M-$22.0M$38.0M$7.0M-$47.0M
Net cash from financing activities—-$2.3B—-$1.4B-$2.0B-$2.3B
Noncontrolling Interests Activity and Other$48.0M-$23.0M-$22.0M$38.0M$7.0M-$47.0M
Proceeds from issuance of common stock$19.0M$144.0M$47.0M$117.0M$86.0M$103.0M
Taxes paid for net share settlement$4.0M$11.0M$114.0M$20.0M$13.0M$9.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.1B$3.8B$1.3B$98.0M$2.6B$3.4B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$518.0M$1.0B$472.0M$1.0B$462.0M$1.1B
Income Taxes Paid, Net$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Health care costs payable and other insurance liabilities—$364.0M-$398.0M$768.0M—$10.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$1.7B$1.5B$1.7B-$2.7B-$640.0M$1.1B