Stock Analysis on Net
Stock Analysis on Net

CVS Health Corp. (NYSE:CVS)

Common-Size Income Statement

CVS Health Corp., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Products 68.74 70.46 70.03 71.18 72.42
Premiums 27.81 26.53 26.17 25.89 24.68
Services 3.45 3.01 3.80 2.93 2.90
Revenues from customers 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of products sold -60.88 -61.22 -60.43 -61.21 -62.06
Health care costs -24.18 -22.16 -22.09 -20.78 -20.54
Cost of revenues -85.06% -83.38% -82.52% -81.99% -82.59%
Gross profit 14.94% 16.62% 17.48% 18.01% 17.41%
Net investment income 0.32 0.26 0.41 0.30 0.40
Restructuring charges -0.14 0.00 0.00 0.00 0.00
Opioid litigation charges 0.00 -1.80 0.00 0.00 0.00
Loss on assets held for sale -0.10 -0.79 0.00 0.00 0.00
Store impairments 0.00 0.00 -0.47 0.00 -0.09
Goodwill impairment 0.00 0.00 -0.15 0.00 0.00
Operating expenses -11.17 -11.88 -12.74 -13.11 -13.02
Operating income 3.85% 2.41% 4.54% 5.19% 4.69%
Interest expense -0.75 -0.71 -0.86 -1.09 -1.19
Loss on early extinguishment of debt 0.00 0.00 -0.16 -0.54 -0.03
Other income 0.02 0.05 0.06 0.08 0.05
Income before income tax provision 3.13% 1.75% 3.58% 3.65% 3.52%
Income tax provision -0.79 -0.45 -0.87 -0.96 -0.93
Income from continuing operations 2.35% 1.29% 2.71% 2.69% 2.59%
Loss from discontinued operations, net of tax 0.00 0.00 0.00 0.00 0.00
Net income 2.35% 1.29% 2.71% 2.68% 2.59%
Net (income) loss attributable to noncontrolling interests -0.01 0.00 0.00 0.00 0.00
Net income attributable to CVS Health 2.34% 1.29% 2.72% 2.68% 2.59%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. CVS Health Corp. operating income as a percentage of revenues from customers decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Income before income tax provision Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. CVS Health Corp. income before income tax provision as a percentage of revenues from customers decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Net income attributable to CVS Health The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. CVS Health Corp. net income attributable to CVS Health as a percentage of revenues from customers decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.