Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 CVS’s total assets moved from $233.0B (2021) down slightly to $228.3B (2022) and then rose to $249.7B (2023) and $253.2B (2024). The notable dip in 2022 (≈‑2.0%) was followed by a strong rebound in 2023 (≈+9.4%), with a further modest increase in 2024 (≈+1.4%). Total liabilities were essentially flat in 2021–2022 then expanded materially in 2023–2024 (from $157.6B in 2021 to $177.5B in 2024), a cumulative increase of about $19.9B (+12.6%). The biggest single-year jump was 2022→2023 (+10.3%), indicating the asset growth in that period was largely funded through higher liabilities. Stockholders’ equity has been comparatively stable: $75.1B (2021) → $71.0B (2022) → $76.5B (2023) → $75.6B (2024), essentially flat over the period (net change ≈ +0.6% from 2021 to 2024). Because liabilities have grown faster than assets, leverage has edged up — liabilities/asset ratio rose from ~67.7% in 2021 to ~70.1% in 2024, and the equity/asset ratio slipped slightly. In practical terms CVS appears to be financing recent balance-sheet expansion more with liabilities than with new equity; that pattern is common in the capital- and working-capital‑intensive pharmacy/healthcare services industry but warrants monitoring for interest-rate and liquidity risk. (Note: 2025 shows zeros in the provided file, which likely means the 2025 balance-sheet data are not available rather than an actual financial position.)
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.