Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $279.95B · View financials
Decision snapshot: CVS stock price vs IBM: inconclusive — current versus $36.86 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at IBM's multiple
Implied fair value · at CVS's multiple
Needs CVS P/E.
Close Dec 31, 2025
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Reported gross margin
Operating income + D&A
Lower is better
Not comparable
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
16 period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Complete market value, debt and cash evidence is required for enterprise value.
Complete market value, debt and cash evidence is required for enterprise value.
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
CVS HEALTH Corp · implied price per share
Bear
$43.35
Base
$58.49
Bull
$78.21
INTERNATIONAL BUSINESS MACHINES CORPORATION · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Walgreens Boots Alliance, Inc.
CVS vs WBA
UNITEDHEALTH GROUP INC
CVS vs UNH
Walmart Inc.
CVS vs WMT
Cigna Group
CVS vs CI
HUMANA INC
CVS vs HUM
Elevance Health, Inc.
CVS vs ELV
Microsoft Corporation
CVS vs MSFT
Oracle Corporation
CVS vs ORCL
Cisco Systems, Inc.
CVS vs CSCO
Cognizant Technology Solutions Corporation
CVS vs CTSH
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe CVS can materially expand margins and reduce leverage from the current 4.4x net debt/EBITDA, then the stock can be owned; otherwise, the data favor IBM on profitability and balance-sheet quality, despite CVS’s lower sales multiple.
CVS trades at $104.43 versus an implied price of $36.86 from the stated P/E framework, implying -64.7% downside. The valuation gap is driven by CVS’s much higher P/E of 75.1x versus IBM’s 26.5x, even though CVS only has modestly better revenue growth.
Supporting Metrics
