Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
CVS Health Corp., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2024-12-31), 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | CVS Health Corp. net fixed asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | CVS Health Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 and from 2023 to 2024. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | CVS Health Corp. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | CVS Health Corp. equity turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover
CVS Health Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues from customers | 370,656) | 356,623) | 321,629) | 290,912) | 267,908) | |
| Property and equipment, net | 12,993) | 13,183) | 12,873) | 12,896) | 12,606) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 28.53 | 27.05 | 24.98 | 22.56 | 21.25 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | 3.94 | 3.95 | 4.76 | 4.81 | 3.83 | |
| Cigna Group | 67.36 | 52.53 | 47.53 | 46.73 | 37.85 | |
| Elevance Health Inc. | 37.66 | 39.05 | 36.07 | 34.94 | 34.69 | |
| Intuitive Surgical Inc. | 1.80 | 2.01 | 2.62 | 3.04 | 2.76 | |
| Medtronic PLC | 5.28 | 5.61 | 5.85 | 5.77 | 5.99 | |
| UnitedHealth Group Inc. | 37.44 | 32.10 | 31.81 | 31.81 | 29.64 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Health Care Equipment & Services | 23.83 | 22.46 | 22.07 | 21.18 | 19.65 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Health Care | 10.08 | 9.76 | 10.25 | 10.04 | 9.24 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Net fixed asset turnover = Revenues from customers ÷ Property and equipment, net
= 370,656 ÷ 12,993 = 28.53
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | CVS Health Corp. net fixed asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
CVS Health Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues from customers | 370,656) | 356,623) | 321,629) | 290,912) | 267,908) | |
| Property and equipment, net | 12,993) | 13,183) | 12,873) | 12,896) | 12,606) | |
| Operating lease right-of-use assets | 15,944) | 17,252) | 17,872) | 19,122) | 20,729) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 28,937) | 30,435) | 30,745) | 32,018) | 33,335) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 12.81 | 11.72 | 10.46 | 9.09 | 8.04 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Abbott Laboratories | 3.58 | 3.56 | 4.25 | 4.26 | 3.42 | |
| Cigna Group | 67.36 | 47.75 | 43.23 | 41.37 | 33.46 | |
| Elevance Health Inc. | 33.57 | 34.43 | 31.64 | 30.12 | 29.26 | |
| Intuitive Surgical Inc. | 1.75 | 1.97 | 2.53 | 2.93 | 2.66 | |
| Medtronic PLC | 4.53 | 4.72 | 5.06 | 4.84 | 5.02 | |
| UnitedHealth Group Inc. | 25.58 | 22.48 | 21.54 | 21.54 | 19.55 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Health Care Equipment & Services | 16.51 | 15.10 | 14.37 | 13.35 | 11.97 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Health Care | 8.36 | 7.96 | 8.24 | 7.94 | 7.24 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues from customers ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 370,656 ÷ 28,937 = 12.81
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | CVS Health Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 and from 2023 to 2024. |
Total Asset Turnover
CVS Health Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues from customers | 370,656) | 356,623) | 321,629) | 290,912) | 267,908) | |
| Total assets | 253,215) | 249,728) | 228,275) | 232,999) | 230,715) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 1.46 | 1.43 | 1.41 | 1.25 | 1.16 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | 0.52 | 0.55 | 0.59 | 0.57 | 0.48 | |
| Cigna Group | 1.58 | 1.27 | 1.25 | 1.11 | 1.02 | |
| Elevance Health Inc. | 1.50 | 1.56 | 1.51 | 1.41 | 1.39 | |
| Intuitive Surgical Inc. | 0.45 | 0.46 | 0.48 | 0.42 | 0.39 | |
| Medtronic PLC | 0.36 | 0.34 | 0.35 | 0.32 | 0.32 | |
| UnitedHealth Group Inc. | 1.32 | 1.34 | 1.31 | 1.34 | 1.30 | |
| Total Asset Turnover, Sector | ||||||
| Health Care Equipment & Services | 1.25 | 1.21 | 1.18 | 1.10 | 1.03 | |
| Total Asset Turnover, Industry | ||||||
| Health Care | 0.81 | 0.76 | 0.79 | 0.73 | 0.68 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Total asset turnover = Revenues from customers ÷ Total assets
= 370,656 ÷ 253,215 = 1.46
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | CVS Health Corp. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Equity Turnover
CVS Health Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues from customers | 370,656) | 356,623) | 321,629) | 290,912) | 267,908) | |
| Total CVS Health shareholders’ equity | 75,560) | 76,461) | 71,015) | 75,075) | 69,389) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 4.91 | 4.66 | 4.53 | 3.87 | 3.86 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Abbott Laboratories | 0.88 | 1.04 | 1.19 | 1.20 | 1.06 | |
| Cigna Group | 6.00 | 4.20 | 4.00 | 3.66 | 3.16 | |
| Elevance Health Inc. | 4.24 | 4.33 | 4.29 | 3.80 | 3.64 | |
| Intuitive Surgical Inc. | 0.51 | 0.54 | 0.56 | 0.48 | 0.45 | |
| Medtronic PLC | 0.64 | 0.61 | 0.60 | 0.59 | 0.57 | |
| UnitedHealth Group Inc. | 4.26 | 4.14 | 4.14 | 3.98 | 3.90 | |
| Equity Turnover, Sector | ||||||
| Health Care Equipment & Services | 3.48 | 3.30 | 3.21 | 2.93 | 2.80 | |
| Equity Turnover, Industry | ||||||
| Health Care | 2.31 | 2.13 | 2.09 | 2.03 | 1.99 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Equity turnover = Revenues from customers ÷ Total CVS Health shareholders’ equity
= 370,656 ÷ 75,560 = 4.91
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | CVS Health Corp. equity turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |