CVS Health (CVS) FY2015 results: revenue $153.3 billion, up 10.0% on the year
CVS Health Corp. (CVS) reported revenue of $153.3 billion for fiscal 2015, the year ended 31 December 2015, up 10.0% on the year before. Net income was $5.2 billion, up 12.8%, and diluted earnings per share $4.63. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2016.
Revenue
$153.3 billion
+10.0% on the year
FY2008FY2015
Operating margin
6.2%
6.3% a year earlier
FY2008FY2015
Net income
$5.2 billion
+12.8% on the year
FY2008FY2015
Diluted EPS
$4.63
+16.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
153,290
139,367
126,761
+10.0%
Cost of revenue
126,762
114,000
102,978
+11.2%
Gross profit
26,528
25,367
23,783
+4.6%
Gross margin
17.3%
18.2%
18.8%
Operating income
9,475
8,799
8,037
+7.7%
Operating margin
6.2%
6.3%
6.3%
Interest expense
859
615
517
+39.7%
Pre-tax income
8,616
7,678
7,528
+12.2%
Income tax
3,386
3,033
2,928
+11.6%
Effective tax rate
39.3%
39.5%
38.9%
Net income
5,237
4,644
4,592
+12.8%
Net margin
3.4%
3.3%
3.6%
Diluted EPS
$4.63
$3.96
$3.74
+16.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
8,539
8,137
5,783
+4.9%
Capital expenditure
2,367
2,136
1,984
+10.8%
Free cash flow
6,172
6,001
3,799
+2.8%
Free cash flow margin
4.0%
4.3%
3.0%
Cash from investing
-13,420
-4,045
-1,835
Cash from financing
4,879
-5,694
-1,237
Depreciation and amortisation
2,092
1,931
1,870
+8.3%
Share-based compensation
230
165
141
+39.4%
Buybacks
5,001
4,001
3,976
+25.0%
Dividends paid
1,576
1,288
1,097
+22.4%
Dividend per share
$1.40
$1.10
$0.90
+27.3%
Diluted shares, weighted
1,126m
1,169m
1,226m
-3.7%
Shares outstanding at period end
1,101m
1,140m
1,180m
-3.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
37,196
37,958
37,938
-2.0%
Non-controlling interest
7.0
5.0
0.0
+40.0%
Redeemable equity
39.0
0.0
n/a
Short-term borrowings
0.0
n/a
0.0
Debt
27,500
12,890
13,400
+113.3%
Other liabilities
27,695
23,399
20,188
+18.4%
Total liabilities and equity
92,437
74,252
71,526
+24.5%
Fixed assets
9,855
8,843
8,615
+11.4%
Goodwill
38,106
28,142
26,542
+35.4%
Intangible assets
13,878
9,774
9,529
+42.0%
Investments
88.0
85.0
88.0
+3.5%
Cash and equivalents
2,459
2,481
4,089
-0.9%
Receivables
11,888
9,687
8,729
+22.7%
Inventory
14,001
11,930
11,045
+17.4%
Other assets
2,162
3,310
2,889
-34.7%
Total assets
92,437
74,252
71,526
+24.5%
10-K for the year ended 31 December 2015, filed 9 February 2016: the filing.