{ "schema": "annalist.findings/0.1", "company": "cvs-health", "snapshot": "FY2026Q2_cbdfaab4", "as_of": { "period": "FY2026 Q2", "period_end": "2026-06-30", "release_date": "2026-08-05" }, "findings_version": "0.4", "conventions": { "ledger": "Append-only: records are never changed or removed; seq gives the order of writing. A thread is one claim of one rule, written /.", "strength": "Claim polarity times measure. A thread is Strengthened or Weakened when its strength moves by more than the band of its rule, otherwise Confirmed.", "states": { "New": "The finding is stated for the first time, or again after it was retired.", "Confirmed": "The finding still holds and its measure moved by no more than the band of its rule.", "Strengthened": "The finding still holds and its measure moved further in the direction the finding states.", "Weakened": "The finding still holds and its measure moved back towards the opposite direction.", "Retired": "The finding no longer holds: its rule now states another claim, or no longer applies." }, "changes": { "initial": "The first record of the rule for the company.", "data update": "A later period, from a new report.", "restatement": "The same period with different figures, after the company reported them differently.", "methodology": "A new method version of the rule.", "wording": "A new wording version of the rule, with the same method.", "correction": "The same period with different figures after Annalist corrected how it reads the filings; the reason names the correction, and config/corrections.toml lists the earlier records it concerns." }, "basis": { "recorded": "Recorded from the snapshot named, after its publication.", "reconstructed": "Reconstructed from the figures of the snapshot named, as at the end of the period shown, when the ledger was opened. Figures are as later reported, so restated figures replace the original ones." }, "claims": { "higher": "the measure is above its value a year earlier", "lower": "the measure is below its value a year earlier", "unchanged": "the measure is within rounding of its value a year earlier", "stated": "the figure is stated without a comparison", "profit_after_loss": "a profit follows a loss in the same period a year earlier", "loss": "the latest period shows a loss", "positive": "the amount is positive", "negative": "the amount is negative", "net_debt": "total debt exceeds cash and short-term investments", "net_cash": "cash and short-term investments exceed total debt", "ahead": "the share of the forecast reached exceeds the share of the year elapsed", "behind": "the share of the forecast reached is below the share of the year elapsed", "in_line": "the share of the forecast reached equals the share of the year elapsed, within rounding", "minimal": "the measure is within the minimal band of the S&P benchmark table", "modest": "the measure is within the modest band of the S&P benchmark table", "intermediate": "the measure is within the intermediate band of the S&P benchmark table", "significant": "the measure is within the significant band of the S&P benchmark table", "aggressive": "the measure is within the aggressive band of the S&P benchmark table", "highly_leveraged": "the measure is within the highly leveraged band of the S&P benchmark table", "covered": "the sources of cash cover the uses", "shortfall": "the sources of cash fall short of the uses", "cash_backed": "operating cash flow exceeds net income", "accrual_led": "net income exceeds operating cash flow", "safe_zone": "the score is above the safe threshold of the model", "grey_zone": "the score is between the thresholds of the model", "distress_zone": "the score is below the distress threshold of the model", "below_threshold": "the score is below the threshold of the model", "above_threshold": "the score is above the threshold of the model", "high_score": "7 or more of the 9 signals are met", "middle_score": "4 to 6 of the 9 signals are met", "low_score": "3 or fewer of the 9 signals are met" } }, "rules": { "corp.altman_zone": { "version": "1.0", "module": "scores", "title": "Altman Z'' zone", "measure": "Altman Z'' score for the latest fiscal year", "band": "0.25 points" }, "corp.beneish_threshold": { "version": "1.0", "module": "scores", "title": "Beneish M-score against its threshold", "measure": "Beneish M-score for the latest fiscal year", "band": "0.1 points" }, "corp.cash_backing": { "version": "2.0", "module": "quality", "title": "Cash backing of earnings", "measure": "net income attributable to the company less operating cash flow, over average total assets, per cent, over 4 quarters or for a fiscal year, whichever ends later", "band": "0.5 percentage points" }, "corp.credit_band": { "version": "3.0", "module": "credit", "title": "Debt against the S&P benchmark bands", "measure": "lease-adjusted debt to adjusted EBITDA over 4 quarters or for a fiscal year, whichever ends later, with the lease figures that the quarters do not report estimated from the latest fiscal year; where no lease-adjusted value exists, debt to EBITDA on reported figures; a value that ends more than 15 months before the latest quarter end does not count; times; the claim is its band in the S&P standard volatility table", "band": "a change of band" }, "corp.free_cash_flow_ttm": { "version": "1.1", "title": "Free cash flow", "measure": "free cash flow over the last 4 quarters, in the reporting currency", "band": "5% of the earlier amount" }, "corp.liquidity_cover": { "version": "3.0", "module": "liquidity", "title": "Liquidity cover", "measure": "cash, short-term investments and operating cash flow over debt due within 12 months, capital expenditure and dividends, times, over 4 quarters or for a fiscal year, whichever ends later; debt due within 12 months is the larger of the maturity schedule and the current portion of long-term debt; a value that ends more than 15 months before the latest quarter end does not count", "band": "10% of the earlier cover" }, "corp.net_debt": { "version": "1.1", "title": "Net debt or net cash", "measure": "total debt less cash and short-term investments at the quarter end, in the reporting currency", "band": "5% of the earlier amount" }, "corp.net_income_yoy": { "version": "1.0", "title": "Net income against a year earlier", "measure": "growth of quarterly net income attributable to the company against the same quarter a year earlier, per cent; where either quarter shows a loss, the net income of the latest quarter", "band": "1.0 percentage point for growth; 5% of the earlier amount for amounts" }, "corp.operating_margin_ttm": { "version": "1.1", "title": "Operating margin against a year earlier", "measure": "change of the operating margin over the last 4 quarters against a year earlier, percentage points", "band": "0.2 percentage points" }, "corp.piotroski_score": { "version": "1.0", "module": "scores", "title": "Piotroski F-score", "measure": "Piotroski F-score for the latest fiscal year, of 9", "band": "less than 1 point" }, "corp.revenue_yoy": { "version": "1.0", "title": "Revenue against a year earlier", "measure": "growth of quarterly revenue against the same quarter a year earlier, per cent", "band": "1.0 percentage point" }, "corp.roe_ttm": { "version": "1.1", "title": "Return on equity against a year earlier", "measure": "change of return on equity over the last 4 quarters against a year earlier, percentage points", "band": "0.5 percentage points" } }, "corrections": [ { "company": "cvs-health", "date": "2026-10-20", "text": "The fourth quarter of 2021 of CVS Health came from a fiscal year and 9 months of different filings; it now comes from one set of filings, with operating income of US$2.23 billion where US$2.35 billion was published. 5 quarterly repurchases of shares that came out negative from revised cumulative figures are withheld. Dividends per share of 3 fourth quarters are no longer published: 2 derived from the figures of 2 filings and 1 that the set of filings of its quarter does not report. No finding cites the figures.", "records": [] }, { "company": "cvs-health", "date": "2026-10-22", "text": "Changes against a year earlier compared 2 figures of different bases where a stock split, a spin-off or a restatement came between the 2 periods. 14 growth values changed, among them net income growth for fiscal 2021, 11.5% before the correction and 10.2% on one basis. No finding states the changes concerned.", "records": [] } ], "threads": { "corp.revenue_yoy/higher": { "rule": "corp.revenue_yoy", "claim": "higher", "state": "Strengthened", "since": "FY2024 Q2", "active": true, "records": [ 1, 7, 15, 21, 28, 35, 42, 49, 55 ] }, "corp.net_income_yoy/lower": { "rule": "corp.net_income_yoy", "claim": "lower", "state": "Retired", "since": "FY2025 Q2", "active": false, "records": [ 2, 8, 16, 22, 30, 36 ] }, "corp.operating_margin_ttm/higher": { "rule": "corp.operating_margin_ttm", "claim": "higher", "state": "Retired", "since": "FY2024 Q2", "active": false, "records": [ 3, 9 ] }, "corp.roe_ttm/higher": { "rule": "corp.roe_ttm", "claim": "higher", "state": "Confirmed", "since": "FY2026 Q2", "active": true, "records": [ 4, 11, 59, 63 ] }, "corp.free_cash_flow_ttm/positive": { "rule": "corp.free_cash_flow_ttm", "claim": "positive", "state": "Confirmed", "since": "FY2024 Q2", "active": true, "records": [ 5, 13, 19, 26, 33, 40, 47, 53, 60, 64 ] }, "corp.net_debt/net_debt": { "rule": "corp.net_debt", "claim": "net_debt", "state": "Confirmed", "since": "FY2024 Q2", "active": true, "records": [ 6, 14, 20, 27, 34, 41, 48, 54, 61, 65 ] }, "corp.operating_margin_ttm/lower": { "rule": "corp.operating_margin_ttm", "claim": "lower", "state": "Confirmed", "since": "FY2024 Q3", "active": true, "records": [ 10, 17, 24, 31, 38, 45, 51, 57, 62 ] }, "corp.roe_ttm/lower": { "rule": "corp.roe_ttm", "claim": "lower", "state": "Retired", "since": "FY2024 Q3", "active": false, "records": [ 12, 18, 25, 32, 39, 46, 52, 58 ] }, "corp.net_income_yoy/higher": { "rule": "corp.net_income_yoy", "claim": "higher", "state": "Strengthened", "since": "FY2025 Q4", "active": true, "records": [ 23, 29, 44, 50, 56 ] }, "corp.net_income_yoy/loss": { "rule": "corp.net_income_yoy", "claim": "loss", "state": "Retired", "since": "FY2025 Q3", "active": false, "records": [ 37, 43 ] }, "corp.credit_band/significant": { "rule": "corp.credit_band", "claim": "significant", "state": "Retired", "since": "FY2023", "active": false, "records": [ 66, 75 ] }, "corp.liquidity_cover/covered": { "rule": "corp.liquidity_cover", "claim": "covered", "state": "Confirmed", "since": "FY2024 Q2", "active": true, "records": [ 67, 72, 77, 85, 87, 89, 93, 99, 101, 104, 107 ] }, "corp.cash_backing/cash_backed": { "rule": "corp.cash_backing", "claim": "cash_backed", "state": "Confirmed", "since": "FY2024 Q4", "active": true, "records": [ 68, 73, 79, 86, 88, 90, 94, 100, 102, 105 ] }, "corp.altman_zone/grey_zone": { "rule": "corp.altman_zone", "claim": "grey_zone", "state": "Retired", "since": "FY2023", "active": false, "records": [ 69, 80 ] }, "corp.beneish_threshold/below_threshold": { "rule": "corp.beneish_threshold", "claim": "below_threshold", "state": "Confirmed", "since": "FY2023", "active": true, "records": [ 70, 82, 96 ] }, "corp.piotroski_score/high_score": { "rule": "corp.piotroski_score", "claim": "high_score", "state": "New", "since": "FY2025", "active": true, "records": [ 71, 83, 98 ] }, "corp.cash_backing/accrual_led": { "rule": "corp.cash_backing", "claim": "accrual_led", "state": "Retired", "since": "FY2024 Q3", "active": false, "records": [ 74, 78 ] }, "corp.credit_band/highly_leveraged": { "rule": "corp.credit_band", "claim": "highly_leveraged", "state": "Retired", "since": "FY2024", "active": false, "records": [ 76, 91 ] }, "corp.altman_zone/distress_zone": { "rule": "corp.altman_zone", "claim": "distress_zone", "state": "Confirmed", "since": "FY2024", "active": true, "records": [ 81, 95 ] }, "corp.piotroski_score/middle_score": { "rule": "corp.piotroski_score", "claim": "middle_score", "state": "Retired", "since": "FY2024", "active": false, "records": [ 84, 97 ] }, "corp.credit_band/aggressive": { "rule": "corp.credit_band", "claim": "aggressive", "state": "Confirmed", "since": "FY2025", "active": true, "records": [ 92, 103, 106 ] } }, "records": [ { "seq": 1, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 2.60119, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 2.60119, "text": "Revenue for the quarter ended 30 June 2024 was US$91.2 billion, 2.6% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q2/revenue", "value": 91234000000.0, "sources": [ "10-Q:0000064803-25-000024" ] }, { "ref": "pl_quarterly/FY2023 Q2/revenue", "value": 88921000000.0, "sources": [ "10-Q:0000064803-24-000029" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 2, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": -6.89111, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 6.89111, "text": "Net income attributable to the company was US$1.8 billion, 6.9% lower than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q2/net_income", "value": 1770000000.0, "sources": [ "10-Q:0000064803-25-000024" ] }, { "ref": "pl_quarterly/FY2023 Q2/net_income", "value": 1901000000.0, "sources": [ "10-Q:0000064803-24-000029" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 3, "company": "cvs-health", "thread": "corp.operating_margin_ttm/higher", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 1.5152, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.5152, "text": "The operating margin over the last four quarters was 3.4%, 1.5 percentage points higher than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q2", "value": 3.4078645993921506, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2023 Q2", "value": 1.8926663600665088, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 4, "company": "cvs-health", "thread": "corp.roe_ttm/higher", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 5.72966, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 5.72966, "text": "Return on equity over the last four quarters was 9.7%, against 4.0% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2024 Q2", "value": 9.738852467898358, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2023 Q2", "value": 4.00919478060983, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 5, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 5273000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 5273000000.0, "text": "Free cash flow over the last four quarters was US$5.3 billion, and operating cash flow was 1.1 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2024 Q2", "value": 5273000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2024 Q2", "value": 1.1226703755215577, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 6, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 50112000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 50112000000.0, "text": "Net debt was US$50.1 billion at 30 June 2024, 3.0 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2024 Q2", "value": 50112000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2024 Q2", "value": 2.9601275917065393, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 7, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Strengthened", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": 6.30988, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 6.30988, "text": "Revenue for the quarter ended 30 September 2024 was US$95.4 billion, 6.3% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q3/revenue", "value": 95428000000.0, "sources": [ "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2023 Q3/revenue", "value": 89764000000.0, "sources": [ "10-Q:0000064803-24-000034" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 8, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "Strengthened", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": -96.1521, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 96.1521, "text": "Net income attributable to the company was US$87 million, 96.2% lower than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q3/net_income", "value": 87000000.0, "sources": [ "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2023 Q3/net_income", "value": 2261000000.0, "sources": [ "10-Q:0000064803-24-000034" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 9, "company": "cvs-health", "thread": "corp.operating_margin_ttm/higher", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "higher", "state": "Retired", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": null, "band": [ "abs", 0.2 ], "strength": null, "text": null, "reason": "The rule corp.operating_margin_ttm now states the claim lower.", "successor": "lower", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 10, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "New", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": -1.4527, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.4527, "text": "The operating margin over the last four quarters was 2.6%, 1.5 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q3", "value": 2.580832285206228, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2023 Q3", "value": 4.03353564743868, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 11, "company": "cvs-health", "thread": "corp.roe_ttm/higher", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "higher", "state": "Retired", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.roe_ttm now states the claim lower.", "successor": "lower", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 12, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "New", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": -5.18435, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 5.18435, "text": "Return on equity over the last four quarters was 6.7%, against 11.9% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2024 Q3", "value": 6.720212217227912, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2023 Q3", "value": 11.90456488760171, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 13, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Weakened", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": 1687000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 1687000000.0, "text": "Free cash flow over the last four quarters was US$1.7 billion, and operating cash flow was 0.9 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2024 Q3", "value": 1687000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2024 Q3", "value": 0.9192583732057417, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 14, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Strengthened", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": 55854000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 55854000000.0, "text": "Net debt was US$55.9 billion at 30 September 2024, 4.0 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2024 Q3", "value": 55854000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2024 Q3", "value": 3.959872385678837, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 15, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Weakened", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": 4.15401, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 4.15401, "text": "Revenue for the quarter ended 31 December 2024 was US$97.7 billion, 4.2% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q4/revenue", "value": 97710000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2023 Q4/revenue", "value": 93813000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-24-000034" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 16, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": -19.6481, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 19.6481, "text": "Net income attributable to the company was US$1.6 billion, 19.6% lower than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2024 Q4/net_income", "value": 1644000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2023 Q4/net_income", "value": 2046000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-24-000034" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 17, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Confirmed", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": -1.55695, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.55695, "text": "The operating margin over the last four quarters was 2.3%, 1.6 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q4", "value": 2.2842796177130915, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2023 Q4", "value": 3.841230266982693, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 18, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Confirmed", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": -5.2108, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 5.2108, "text": "Return on equity over the last four quarters was 6.1%, against 11.3% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2024 Q4", "value": 6.070213983594372, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2023 Q4", "value": 11.281011289123235, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 19, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Strengthened", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": 6326000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 6326000000.0, "text": "Free cash flow over the last four quarters was US$6.3 billion, and operating cash flow was 2.0 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2024 Q4", "value": 6326000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2024 Q4", "value": 1.9737754659731253, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 20, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Confirmed", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": 55277000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 55277000000.0, "text": "Net debt was US$55.3 billion at 31 December 2024, 4.2 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2024 Q4", "value": 55277000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2024 Q4", "value": 4.215435064439869, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 21, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Strengthened", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": 6.95523, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 6.95523, "text": "Revenue for the quarter ended 31 March 2025 was US$94.6 billion, 7.0% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q1/revenue", "value": 94588000000.0, "sources": [ "10-Q:0000064803-26-000052" ] }, { "ref": "pl_quarterly/FY2024 Q1/revenue", "value": 88437000000.0, "sources": [ "10-Q:0000064803-25-000013" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 22, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "Retired", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": null, "band": [ "abs", 1.0 ], "strength": null, "text": null, "reason": "The rule corp.net_income_yoy now states the claim higher.", "successor": "higher", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 23, "company": "cvs-health", "thread": "corp.net_income_yoy/higher", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": 59.8383, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 59.8383, "text": "Net income attributable to the company was US$1.8 billion, 59.8% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q1/net_income", "value": 1779000000.0, "sources": [ "10-Q:0000064803-26-000052" ] }, { "ref": "pl_quarterly/FY2024 Q1/net_income", "value": 1113000000.0, "sources": [ "10-Q:0000064803-25-000013" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 24, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": -0.943805, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 0.943805, "text": "The operating margin over the last four quarters was 2.5%, 0.9 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q1", "value": 2.53826261346844, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q1", "value": 3.482067408259105, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 25, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": -3.07546, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 3.07546, "text": "Return on equity over the last four quarters was 7.0%, against 10.1% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2025 Q1", "value": 6.998151056681047, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2024 Q1", "value": 10.07361541107671, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 26, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Weakened", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": 5941000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 5941000000.0, "text": "Free cash flow over the last four quarters was US$5.9 billion, and operating cash flow was 1.7 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2025 Q1", "value": 5941000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2025 Q1", "value": 1.6590909090909092, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 27, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Weakened", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": 52056000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 52056000000.0, "text": "Net debt was US$52.1 billion at 31 March 2025, 3.7 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2025 Q1", "value": 52056000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2025 Q1", "value": 3.657672849915683, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 28, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Strengthened", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": 8.41901, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 8.41901, "text": "Revenue for the quarter ended 30 June 2025 was US$98.9 billion, 8.4% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q2/revenue", "value": 98915000000.0, "sources": [ "10-Q:0000064803-26-000098" ] }, { "ref": "pl_quarterly/FY2024 Q2/revenue", "value": 91234000000.0, "sources": [ "10-Q:0000064803-25-000024" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 29, "company": "cvs-health", "thread": "corp.net_income_yoy/higher", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "higher", "state": "Retired", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": null, "band": [ "abs", 1.0 ], "strength": null, "text": null, "reason": "The rule corp.net_income_yoy now states the claim lower.", "successor": "lower", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 30, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "New", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": -42.3164, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 42.3164, "text": "Net income attributable to the company was US$1.0 billion, 42.3% lower than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q2/net_income", "value": 1021000000.0, "sources": [ "10-Q:0000064803-26-000098" ] }, { "ref": "pl_quarterly/FY2024 Q2/net_income", "value": 1770000000.0, "sources": [ "10-Q:0000064803-25-000024" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 31, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Confirmed", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": -1.09176, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.09176, "text": "The operating margin over the last four quarters was 2.3%, 1.1 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q2", "value": 2.3161020171166533, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q2", "value": 3.4078645993921506, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 32, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Strengthened", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": -3.78911, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 3.78911, "text": "Return on equity over the last four quarters was 5.9%, against 9.7% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2025 Q2", "value": 5.949746896112508, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2024 Q2", "value": 9.738852467898358, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 33, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Weakened", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": 4780000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 4780000000.0, "text": "Free cash flow over the last four quarters was US$4.8 billion, and operating cash flow was 1.7 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2025 Q2", "value": 4780000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2025 Q2", "value": 1.670271463253145, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 34, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Confirmed", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": 52317000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 52317000000.0, "text": "Net debt was US$52.3 billion at 30 June 2025, 3.9 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2025 Q2", "value": 52317000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2025 Q2", "value": 3.850235501913453, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 35, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Confirmed", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": 7.7996, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 7.7996, "text": "Revenue for the quarter ended 30 September 2025 was US$102.9 billion, 7.8% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q3/revenue", "value": 102871000000.0, "sources": [ "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2024 Q3/revenue", "value": 95428000000.0, "sources": [ "10-Q:0000064803-25-000037" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 36, "company": "cvs-health", "thread": "corp.net_income_yoy/lower", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "lower", "state": "Retired", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": null, "band": [ "abs", 1.0 ], "strength": null, "text": null, "reason": "The rule corp.net_income_yoy now states the claim loss.", "successor": "loss", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 37, "company": "cvs-health", "thread": "corp.net_income_yoy/loss", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "loss", "state": "New", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": -3975000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 3975000000.0, "text": "The company reported a net loss of US$4.0 billion, against net income of US$87 million in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q3/net_income", "value": -3975000000.0, "sources": [ "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2024 Q3/net_income", "value": 87000000.0, "sources": [ "10-Q:0000064803-25-000037" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 38, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Strengthened", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": -1.33338, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.33338, "text": "The operating margin over the last four quarters was 1.2%, 1.3 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q3", "value": 1.24744978227992, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q3", "value": 2.580832285206228, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 39, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Strengthened", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": -6.08588, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 6.08588, "text": "Return on equity over the last four quarters was 0.6%, against 6.7% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2025 Q3", "value": 0.6343323955853711, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2024 Q3", "value": 6.720212217227912, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 40, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Strengthened", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": 6293000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 6293000000.0, "text": "Free cash flow over the last four quarters was US$6.3 billion, and operating cash flow was 19.4 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2025 Q3", "value": 6293000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2025 Q3", "value": 19.422174840085287, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 41, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Confirmed", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": 54604000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 54604000000.0, "text": "Net debt was US$54.6 billion at 30 September 2025, 5.7 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2025 Q3", "value": 54604000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2025 Q3", "value": 5.734509556815795, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 42, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Confirmed", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": 8.1701, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 8.1701, "text": "Revenue for the quarter ended 31 December 2025 was US$105.7 billion, 8.2% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q4/revenue", "value": 105693000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2024 Q4/revenue", "value": 97710000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 43, "company": "cvs-health", "thread": "corp.net_income_yoy/loss", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "loss", "state": "Retired", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": null, "band": [ "rel", 0.05 ], "strength": null, "text": null, "reason": "The rule corp.net_income_yoy now states the claim higher.", "successor": "higher", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 44, "company": "cvs-health", "thread": "corp.net_income_yoy/higher", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": 79.0146, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 79.0146, "text": "Net income attributable to the company was US$2.9 billion, 79.0% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2025 Q4/net_income", "value": 2943000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] }, { "ref": "pl_quarterly/FY2024 Q4/net_income", "value": 1644000000.0, "sources": [ "10-K:0000064803-26-000010", "10-Q:0000064803-25-000037" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 45, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": -1.12527, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.12527, "text": "The operating margin over the last four quarters was 1.2%, 1.1 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q4", "value": 1.1590108116308973, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2024 Q4", "value": 2.2842796177130915, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 46, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": -3.72498, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 3.72498, "text": "Return on equity over the last four quarters was 2.3%, against 6.1% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2025 Q4", "value": 2.3452319365407828, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2024 Q4", "value": 6.070213983594372, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 47, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Strengthened", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": 7807000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 7807000000.0, "text": "Free cash flow over the last four quarters was US$7.8 billion, and operating cash flow was 6.0 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2025 Q4", "value": 7807000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2025 Q4", "value": 6.017533936651584, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 48, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Confirmed", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": 53972000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 53972000000.0, "text": "Net debt was US$54.0 billion at 31 December 2025, 5.8 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2025 Q4", "value": 53972000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2025 Q4", "value": 5.824735592488668, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 49, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Weakened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": 6.17203, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 6.17203, "text": "Revenue for the quarter ended 31 March 2026 was US$100.4 billion, 6.2% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2026 Q1/revenue", "value": 100426000000.0, "sources": [ "10-Q:0000064803-26-000052" ] }, { "ref": "pl_quarterly/FY2025 Q1/revenue", "value": 94588000000.0, "sources": [ "10-Q:0000064803-26-000052" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 50, "company": "cvs-health", "thread": "corp.net_income_yoy/higher", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "higher", "state": "Weakened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": 65.43, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 65.43, "text": "Net income attributable to the company was US$2.9 billion, 65.4% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2026 Q1/net_income", "value": 2943000000.0, "sources": [ "10-Q:0000064803-26-000052" ] }, { "ref": "pl_quarterly/FY2025 Q1/net_income", "value": 1779000000.0, "sources": [ "10-Q:0000064803-26-000052" ] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 51, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Confirmed", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": -1.07567, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 1.07567, "text": "The operating margin over the last four quarters was 1.5%, 1.1 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2026 Q1", "value": 1.462595457275591, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q1", "value": 2.53826261346844, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 52, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": -3.19985, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 3.19985, "text": "Return on equity over the last four quarters was 3.8%, against 7.0% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2026 Q1", "value": 3.798296466625644, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2025 Q1", "value": 6.998151056681047, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 53, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Weakened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": 7394000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 7394000000.0, "text": "Free cash flow over the last four quarters was US$7.4 billion, and operating cash flow was 3.5 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2026 Q1", "value": 7394000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2026 Q1", "value": 3.52387448840382, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 54, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Confirmed", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": 51309000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 51309000000.0, "text": "Net debt was US$51.3 billion at 31 March 2026, 4.9 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2026 Q1", "value": 51309000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2026 Q1", "value": 4.871261748789519, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 55, "company": "cvs-health", "thread": "corp.revenue_yoy/higher", "rule": "corp.revenue_yoy", "rule_version": "1.0", "claim": "higher", "state": "Strengthened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 7.25977, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 7.25977, "text": "Revenue for the quarter ended 30 June 2026 was US$106.1 billion, 7.3% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2026 Q2/revenue", "value": 106096000000.0, "sources": [ "10-Q:0000064803-26-000098" ] }, { "ref": "pl_quarterly/FY2025 Q2/revenue", "value": 98915000000.0, "sources": [ "10-Q:0000064803-26-000098" ] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 56, "company": "cvs-health", "thread": "corp.net_income_yoy/higher", "rule": "corp.net_income_yoy", "rule_version": "1.0", "claim": "higher", "state": "Strengthened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 191.773, "unit": "%" }, "band": [ "abs", 1.0 ], "strength": 191.773, "text": "Net income attributable to the company was US$3.0 billion, 191.8% higher than in the same quarter a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "pl_quarterly/FY2026 Q2/net_income", "value": 2979000000.0, "sources": [ "10-Q:0000064803-26-000098" ] }, { "ref": "pl_quarterly/FY2025 Q2/net_income", "value": 1021000000.0, "sources": [ "10-Q:0000064803-26-000098" ] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 57, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.0", "claim": "lower", "state": "Weakened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": -0.319407, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 0.319407, "text": "The operating margin over the last four quarters was 2.0%, 0.3 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2026 Q2", "value": 1.9966946608654592, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q2", "value": 2.3161020171166533, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 58, "company": "cvs-health", "thread": "corp.roe_ttm/lower", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "lower", "state": "Retired", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.roe_ttm now states the claim higher.", "successor": "higher", "figures": [], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 59, "company": "cvs-health", "thread": "corp.roe_ttm/higher", "rule": "corp.roe_ttm", "rule_version": "1.0", "claim": "higher", "state": "New", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 0.27634, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 0.27634, "text": "Return on equity over the last four quarters was 6.2%, against 5.9% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2026 Q2", "value": 6.226087177952776, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2025 Q2", "value": 5.949746896112508, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 60, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.0", "claim": "positive", "state": "Strengthened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 11758000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 11758000000.0, "text": "Free cash flow over the last four quarters was US$11.8 billion, and operating cash flow was 3.0 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2026 Q2", "value": 11758000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2026 Q2", "value": 3.0224948875255624, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 61, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.0", "claim": "net_debt", "state": "Weakened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 47452000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 47452000000.0, "text": "Net debt was US$47.5 billion at 30 June 2026, 3.7 times EBITDA over the last four quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2026 Q2", "value": 47452000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2026 Q2", "value": 3.704293520686963, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 62, "company": "cvs-health", "thread": "corp.operating_margin_ttm/lower", "rule": "corp.operating_margin_ttm", "rule_version": "1.1", "claim": "lower", "state": "Confirmed", "change": "wording", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": -0.319407, "unit": "pp" }, "band": [ "abs", 0.2 ], "strength": 0.319407, "text": "The operating margin over the last 4 quarters was 2.0%, 0.3 percentage points lower than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.operating_margin/ttm/FY2026 Q2", "value": 1.9966946608654592, "sources": [] }, { "ref": "ratio/corp.operating_margin/ttm/FY2025 Q2", "value": 2.3161020171166533, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 63, "company": "cvs-health", "thread": "corp.roe_ttm/higher", "rule": "corp.roe_ttm", "rule_version": "1.1", "claim": "higher", "state": "Confirmed", "change": "wording", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 0.27634, "unit": "pp" }, "band": [ "abs", 0.5 ], "strength": 0.27634, "text": "Return on equity over the last 4 quarters was 6.2%, against 5.9% a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.roe/ttm/FY2026 Q2", "value": 6.226087177952776, "sources": [] }, { "ref": "ratio/corp.roe/ttm/FY2025 Q2", "value": 5.949746896112508, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 64, "company": "cvs-health", "thread": "corp.free_cash_flow_ttm/positive", "rule": "corp.free_cash_flow_ttm", "rule_version": "1.1", "claim": "positive", "state": "Confirmed", "change": "wording", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 11758000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 11758000000.0, "text": "Free cash flow over the last 4 quarters was US$11.8 billion, and operating cash flow was 3.0 times net income attributable to the company.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.free_cash_flow/ttm/FY2026 Q2", "value": 11758000000.0, "sources": [] }, { "ref": "ratio/corp.cash_conversion/ttm/FY2026 Q2", "value": 3.0224948875255624, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 65, "company": "cvs-health", "thread": "corp.net_debt/net_debt", "rule": "corp.net_debt", "rule_version": "1.1", "claim": "net_debt", "state": "Confirmed", "change": "wording", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 47452000000.0, "unit": "USD" }, "band": [ "rel", 0.05 ], "strength": 47452000000.0, "text": "Net debt was US$47.5 billion at 30 June 2026, 3.7 times EBITDA over the last 4 quarters.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.net_debt/quarterly/FY2026 Q2", "value": 47452000000.0, "sources": [] }, { "ref": "ratio/corp.net_debt_to_ebitda/ttm/FY2026 Q2", "value": 3.704293520686963, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_41718c6c", "dataset_sha256": "41718c6c6dafcf0eeb98d763893f665fce6ecd5592765bace3db5e44e5edd4a7" }, { "seq": 66, "company": "cvs-health", "thread": "corp.credit_band/significant", "rule": "corp.credit_band", "rule_version": "1.0", "claim": "significant", "state": "New", "change": "initial", "period": "FY2023", "period_end": "2023-12-31", "measure": { "value": 3.73946, "unit": "x" }, "band": [ "abs", 0.0 ], "strength": null, "text": "Lease-adjusted debt was 3.7 times adjusted EBITDA for fiscal 2023, and funds from operations equalled 18.2% of that debt. Debt to EBITDA is within the significant band of the S&P standard volatility table and FFO to debt within the aggressive band.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.debt_to_ebitda/annual/FY2023", "value": 3.7394601724056713, "sources": [] }, { "ref": "ratio/corp.ffo_to_debt/annual/FY2023", "value": 18.22757132959627, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 67, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": 2.48661, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 2.48661, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 2.5 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2024 Q2", "value": 2.4866135295319847, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 68, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "New", "change": "initial", "period": "FY2024 Q2", "period_end": "2024-06-30", "measure": { "value": -0.351008, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 0.351008, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.4% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2024 Q2", "value": -0.35100845285661986, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 69, "company": "cvs-health", "thread": "corp.altman_zone/grey_zone", "rule": "corp.altman_zone", "rule_version": "1.0", "claim": "grey_zone", "state": "New", "change": "initial", "period": "FY2023", "period_end": "2023-12-31", "measure": { "value": 1.34124, "unit": "score" }, "band": [ "abs", 0.25 ], "strength": null, "text": "The Altman Z'' score for fiscal 2023 was 1.34, between the distress threshold of 1.10 and the safe threshold of 2.60.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.altman_z2/annual/FY2023", "value": 1.3412406054217092, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 70, "company": "cvs-health", "thread": "corp.beneish_threshold/below_threshold", "rule": "corp.beneish_threshold", "rule_version": "1.0", "claim": "below_threshold", "state": "New", "change": "initial", "period": "FY2023", "period_end": "2023-12-31", "measure": { "value": -2.33801, "unit": "score" }, "band": [ "abs", 0.1 ], "strength": 2.33801, "text": "The Beneish M-score for fiscal 2023 was minus 2.34, below the model threshold of minus 1.78.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.beneish_m/annual/FY2023", "value": -2.3380100822641934, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 71, "company": "cvs-health", "thread": "corp.piotroski_score/high_score", "rule": "corp.piotroski_score", "rule_version": "1.0", "claim": "high_score", "state": "New", "change": "initial", "period": "FY2023", "period_end": "2023-12-31", "measure": { "value": 7.0, "unit": "score" }, "band": [ "abs", 0.5 ], "strength": 7.0, "text": "The Piotroski F-score for fiscal 2023 was 7 of 9. The 2 signals not met were long-term debt to assets lower than a year earlier and current ratio higher than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.piotroski_f/annual/FY2023", "value": 7.0, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 72, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Weakened", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": 1.1961, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 1.1961, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.2 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2024 Q3", "value": 1.196099765651155, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 73, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Retired", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.cash_backing now states the claim accrual_led.", "successor": "accrual_led", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 74, "company": "cvs-health", "thread": "corp.cash_backing/accrual_led", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "accrual_led", "state": "New", "change": "data update", "period": "FY2024 Q3", "period_end": "2024-09-30", "measure": { "value": 0.160799, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 0.160799, "text": "Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 0.2% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2024 Q3", "value": 0.160799471148406, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 75, "company": "cvs-health", "thread": "corp.credit_band/significant", "rule": "corp.credit_band", "rule_version": "1.0", "claim": "significant", "state": "Retired", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": null, "band": [ "abs", 0.0 ], "strength": null, "text": null, "reason": "The rule corp.credit_band now states the claim highly_leveraged.", "successor": "highly_leveraged", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 76, "company": "cvs-health", "thread": "corp.credit_band/highly_leveraged", "rule": "corp.credit_band", "rule_version": "1.0", "claim": "highly_leveraged", "state": "New", "change": "data update", "period": "FY2024", "period_end": "2024-12-31", "measure": { "value": 5.158, "unit": "x" }, "band": [ "abs", 0.0 ], "strength": null, "text": "Lease-adjusted debt was 5.2 times adjusted EBITDA for fiscal 2024, and funds from operations equalled 12.9% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.debt_to_ebitda/annual/FY2024", "value": 5.157999502363772, "sources": [] }, { "ref": "ratio/corp.ffo_to_debt/annual/FY2024", "value": 12.870507718282681, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 77, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Strengthened", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": 1.69878, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 1.69878, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.7 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2024 Q4", "value": 1.6987829614604462, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 78, "company": "cvs-health", "thread": "corp.cash_backing/accrual_led", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "accrual_led", "state": "Retired", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.cash_backing now states the claim cash_backed.", "successor": "cash_backed", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 79, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "New", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": { "value": -1.78668, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 1.78668, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 1.8% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2024 Q4", "value": -1.786683580445498, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 80, "company": "cvs-health", "thread": "corp.altman_zone/grey_zone", "rule": "corp.altman_zone", "rule_version": "1.0", "claim": "grey_zone", "state": "Retired", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": null, "band": [ "abs", 0.25 ], "strength": null, "text": null, "reason": "The rule corp.altman_zone now states the claim distress_zone.", "successor": "distress_zone", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 81, "company": "cvs-health", "thread": "corp.altman_zone/distress_zone", "rule": "corp.altman_zone", "rule_version": "1.0", "claim": "distress_zone", "state": "New", "change": "data update", "period": "FY2024", "period_end": "2024-12-31", "measure": { "value": 1.06944, "unit": "score" }, "band": [ "abs", 0.25 ], "strength": -1.06944, "text": "The Altman Z'' score for fiscal 2024 was 1.07, below the distress threshold of 1.10.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.altman_z2/annual/FY2024", "value": 1.0694359098880528, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 82, "company": "cvs-health", "thread": "corp.beneish_threshold/below_threshold", "rule": "corp.beneish_threshold", "rule_version": "1.0", "claim": "below_threshold", "state": "Strengthened", "change": "data update", "period": "FY2024", "period_end": "2024-12-31", "measure": { "value": -2.61111, "unit": "score" }, "band": [ "abs", 0.1 ], "strength": 2.61111, "text": "The Beneish M-score for fiscal 2024 was minus 2.61, below the model threshold of minus 1.78.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.beneish_m/annual/FY2024", "value": -2.6111090837838145, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 83, "company": "cvs-health", "thread": "corp.piotroski_score/high_score", "rule": "corp.piotroski_score", "rule_version": "1.0", "claim": "high_score", "state": "Retired", "change": "data update", "period": "FY2024 Q4", "period_end": "2024-12-31", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.piotroski_score now states the claim middle_score.", "successor": "middle_score", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 84, "company": "cvs-health", "thread": "corp.piotroski_score/middle_score", "rule": "corp.piotroski_score", "rule_version": "1.0", "claim": "middle_score", "state": "New", "change": "data update", "period": "FY2024", "period_end": "2024-12-31", "measure": { "value": 6.0, "unit": "score" }, "band": [ "abs", 0.5 ], "strength": null, "text": "The Piotroski F-score for fiscal 2024 was 6 of 9. The 3 signals not met were return on assets higher than a year earlier, current ratio higher than a year earlier and asset turnover higher than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.piotroski_f/annual/FY2024", "value": 6.0, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 85, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Confirmed", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": 1.80526, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 1.80526, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.8 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2025 Q1", "value": 1.8052604957005565, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 86, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Confirmed", "change": "data update", "period": "FY2025 Q1", "period_end": "2025-03-31", "measure": { "value": -1.37732, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 1.37732, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 1.4% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2025 Q1", "value": -1.377323243517082, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 87, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Weakened", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": 1.4146, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 1.4146, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.4 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2025 Q2", "value": 1.4146008198321296, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 88, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Confirmed", "change": "data update", "period": "FY2025 Q2", "period_end": "2025-06-30", "measure": { "value": -1.18906, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 1.18906, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 1.2% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2025 Q2", "value": -1.1890592454544031, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 89, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Strengthened", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": 1.76357, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 1.76357, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 1.8 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2025 Q3", "value": 1.7635685798508756, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 90, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Strengthened", "change": "data update", "period": "FY2025 Q3", "period_end": "2025-09-30", "measure": { "value": -3.40322, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 3.40322, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.4% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2025 Q3", "value": -3.403222820499691, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 91, "company": "cvs-health", "thread": "corp.credit_band/highly_leveraged", "rule": "corp.credit_band", "rule_version": "1.0", "claim": "highly_leveraged", "state": "Retired", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": null, "band": [ "abs", 0.0 ], "strength": null, "text": null, "reason": "The rule corp.credit_band now states the claim aggressive.", "successor": "aggressive", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 92, "company": "cvs-health", "thread": "corp.credit_band/aggressive", "rule": "corp.credit_band", "rule_version": "1.0", "claim": "aggressive", "state": "New", "change": "data update", "period": "FY2025", "period_end": "2025-12-31", "measure": { "value": 4.45926, "unit": "x" }, "band": [ "abs", 0.0 ], "strength": null, "text": "Lease-adjusted debt was 4.5 times adjusted EBITDA for fiscal 2025, and funds from operations equalled 15.0% of that debt. Both ratios are within the aggressive band of the S&P standard volatility table.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.debt_to_ebitda/annual/FY2025", "value": 4.459255954040939, "sources": [] }, { "ref": "ratio/corp.ffo_to_debt/annual/FY2025", "value": 15.03351469668543, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 93, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Strengthened", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": 2.07474, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 2.07474, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 2.1 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2025 Q4", "value": 2.074736225087925, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 94, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Confirmed", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": { "value": -3.50111, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 3.50111, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.5% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2025 Q4", "value": -3.501113954924786, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 95, "company": "cvs-health", "thread": "corp.altman_zone/distress_zone", "rule": "corp.altman_zone", "rule_version": "1.0", "claim": "distress_zone", "state": "Confirmed", "change": "data update", "period": "FY2025", "period_end": "2025-12-31", "measure": { "value": 0.992988, "unit": "score" }, "band": [ "abs", 0.25 ], "strength": -0.992988, "text": "The Altman Z'' score for fiscal 2025 was 0.99, below the distress threshold of 1.10.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.altman_z2/annual/FY2025", "value": 0.9929883283194982, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 96, "company": "cvs-health", "thread": "corp.beneish_threshold/below_threshold", "rule": "corp.beneish_threshold", "rule_version": "1.0", "claim": "below_threshold", "state": "Confirmed", "change": "data update", "period": "FY2025", "period_end": "2025-12-31", "measure": { "value": -2.58934, "unit": "score" }, "band": [ "abs", 0.1 ], "strength": 2.58934, "text": "The Beneish M-score for fiscal 2025 was minus 2.59, below the model threshold of minus 1.78.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.beneish_m/annual/FY2025", "value": -2.589342844612589, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 97, "company": "cvs-health", "thread": "corp.piotroski_score/middle_score", "rule": "corp.piotroski_score", "rule_version": "1.0", "claim": "middle_score", "state": "Retired", "change": "data update", "period": "FY2025 Q4", "period_end": "2025-12-31", "measure": null, "band": [ "abs", 0.5 ], "strength": null, "text": null, "reason": "The rule corp.piotroski_score now states the claim high_score.", "successor": "high_score", "figures": [], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 98, "company": "cvs-health", "thread": "corp.piotroski_score/high_score", "rule": "corp.piotroski_score", "rule_version": "1.0", "claim": "high_score", "state": "New", "change": "data update", "period": "FY2025", "period_end": "2025-12-31", "measure": { "value": 8.0, "unit": "score" }, "band": [ "abs", 0.5 ], "strength": 8.0, "text": "The Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was return on assets higher than a year earlier.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.piotroski_f/annual/FY2025", "value": 8.0, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 99, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Strengthened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": 2.48083, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 2.48083, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 2.5 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2026 Q1", "value": 2.480833893745797, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 100, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Weakened", "change": "data update", "period": "FY2026 Q1", "period_end": "2026-03-31", "measure": { "value": -2.91018, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 2.91018, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.9% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2026 Q1", "value": -2.910183479203003, "sources": [] } ], "basis": "reconstructed", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 101, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "1.0", "claim": "covered", "state": "Strengthened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 3.42282, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 3.42282, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 3.4 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2026 Q2", "value": 3.42282039066222, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 102, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "1.0", "claim": "cash_backed", "state": "Strengthened", "change": "data update", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": -3.86244, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 3.86244, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.9% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2026 Q2", "value": -3.8624438842360345, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_7f5318f7", "dataset_sha256": "7f5318f7a78c9c3becc85d74c69662286d02fd793e7235069ea25a1e92cc7cce" }, { "seq": 103, "company": "cvs-health", "thread": "corp.credit_band/aggressive", "rule": "corp.credit_band", "rule_version": "2.0", "claim": "aggressive", "state": "Confirmed", "change": "methodology", "period": "FY2025", "period_end": "2025-12-31", "measure": { "value": 4.45926, "unit": "x" }, "band": [ "abs", 0.0 ], "strength": null, "text": "Lease-adjusted debt was 4.5 times adjusted EBITDA for fiscal 2025, and funds from operations equalled 15.0% of that debt. Both ratios are within the aggressive band of the S&P standard volatility table.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.debt_to_ebitda/annual/FY2025", "value": 4.459255954040939, "sources": [] }, { "ref": "ratio/corp.ffo_to_debt/annual/FY2025", "value": 15.03351469668543, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_2e797acb", "dataset_sha256": "2e797acb433cd147772f110c4c7e62d3bdb35fbb8a3d4364ccfdb300ffde3e54" }, { "seq": 104, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "2.0", "claim": "covered", "state": "Confirmed", "change": "methodology", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 3.42282, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 3.42282, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 3.4 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2026 Q2", "value": 3.42282039066222, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_2e797acb", "dataset_sha256": "2e797acb433cd147772f110c4c7e62d3bdb35fbb8a3d4364ccfdb300ffde3e54" }, { "seq": 105, "company": "cvs-health", "thread": "corp.cash_backing/cash_backed", "rule": "corp.cash_backing", "rule_version": "2.0", "claim": "cash_backed", "state": "Confirmed", "change": "methodology", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": -3.86244, "unit": "%" }, "band": [ "abs", 0.5 ], "strength": 3.86244, "text": "Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.9% of average total assets.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.cash_flow_accruals/ttm/FY2026 Q2", "value": -3.8624438842360345, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_2e797acb", "dataset_sha256": "2e797acb433cd147772f110c4c7e62d3bdb35fbb8a3d4364ccfdb300ffde3e54" }, { "seq": 106, "company": "cvs-health", "thread": "corp.credit_band/aggressive", "rule": "corp.credit_band", "rule_version": "3.0", "claim": "aggressive", "state": "Confirmed", "change": "methodology", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 4.79068, "unit": "x" }, "band": [ "abs", 0.0 ], "strength": null, "text": "Lease-adjusted debt was 4.8 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.2% of that debt. Both ratios are within the aggressive band of the S&P standard volatility table. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.debt_to_ebitda/ttm/FY2026 Q2", "value": 4.790683073832245, "sources": [] }, { "ref": "ratio/corp.ffo_to_debt/ttm/FY2026 Q2", "value": 14.151501847823239, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_2e797acb", "dataset_sha256": "2e797acb433cd147772f110c4c7e62d3bdb35fbb8a3d4364ccfdb300ffde3e54" }, { "seq": 107, "company": "cvs-health", "thread": "corp.liquidity_cover/covered", "rule": "corp.liquidity_cover", "rule_version": "3.0", "claim": "covered", "state": "Confirmed", "change": "methodology", "period": "FY2026 Q2", "period_end": "2026-06-30", "measure": { "value": 3.42282, "unit": "x" }, "band": [ "rel", 0.1 ], "strength": 3.42282, "text": "Cash, short-term investments and operating cash flow over the last 4 quarters equalled 3.4 times the sum of debt due within 12 months, capital expenditure and dividends.", "reason": null, "successor": null, "figures": [ { "ref": "ratio/corp.liquidity_cover/ttm/FY2026 Q2", "value": 3.42282039066222, "sources": [] } ], "basis": "recorded", "snapshot": "FY2026Q2_2e797acb", "dataset_sha256": "2e797acb433cd147772f110c4c7e62d3bdb35fbb8a3d4364ccfdb300ffde3e54" } ] }