CVS Health (CVS) FY2021 results: revenue $292.1 billion, up 8.7% on the year
CVS Health Corp. (CVS) reported revenue of $292.1 billion for fiscal 2021, the year ended 31 December 2021, up 8.7% on the year before. Net income was $8.0 billion, up 11.5%, and diluted earnings per share $6.02. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2022.
Revenue
$292.1 billion
+8.7% on the year
FY2014FY2021
Operating margin
4.6%
5.2% a year earlier
FY2014FY2021
Net income
$8.0 billion
+11.5% on the year
FY2014FY2021
Diluted EPS
$6.02
+10.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
18,265
15,865
12,848
+15.1%
Capital expenditure
2,520
2,437
2,457
+3.4%
Free cash flow
15,745
13,428
10,391
+17.3%
Free cash flow margin
5.4%
5.0%
4.0%
Cash from investing
-5,261
-5,534
-3,339
Cash from financing
-11,356
-7,696
-7,654
Depreciation and amortisation
4,486
4,441
4,371
+1.0%
Share-based compensation
484
400
453
+21.0%
Buybacks
0.0
0.0
0.0
Dividends paid
2,625
2,624
2,603
+0.0%
Dividend per share
$2.00
$2.00
$2.00
0.0%
Diluted shares, weighted
1,329m
1,314m
1,305m
+1.1%
Shares outstanding at period end
1,322m
1,310m
1,302m
+0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
74,535
69,389
63,864
+7.4%
Non-controlling interest
306
312
306
-1.9%
Short-term borrowings
n/a
n/a
0.0
Debt
56,176
64,647
68,480
-13.1%
Operating lease liabilities
18,177
18,757
18,926
-3.1%
Finance lease liabilities
1,250
1,050
781
+19.0%
Other liabilities
82,555
76,560
70,092
+7.8%
Total liabilities and equity
232,999
230,715
222,449
+1.0%
Fixed assets
12,896
12,606
12,044
+2.3%
Goodwill
79,121
79,552
79,749
-0.5%
Intangible assets
29,026
31,142
33,121
-6.8%
Investments
26,142
23,812
19,687
+9.8%
Cash and equivalents
9,408
7,854
5,683
+19.8%
Receivables
24,431
21,742
19,617
+12.4%
Inventory
17,760
18,496
17,516
-4.0%
Other assets
34,215
35,511
35,032
-3.6%
Total assets
232,999
230,715
222,449
+1.0%
10-K for the year ended 31 December 2021, filed 9 February 2022: the filing.