CVS Health (CVS) FY2022 results: revenue $322.5 billion, up 10.4% on the year
CVS Health Corp. (CVS) reported revenue of $322.5 billion for fiscal 2022, the year ended 31 December 2022, up 10.4% on the year before. Net income was $4.3 billion, down 46.1%, and diluted earnings per share $3.26. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2023.
Revenue
$322.5 billion
+10.4% on the year
FY2015FY2022
Operating margin
2.5%
4.6% a year earlier
FY2015FY2022
Net income
$4.3 billion
-46.1% on the year
FY2015FY2022
Diluted EPS
$3.26
-45.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
16,177
18,265
15,865
-11.4%
Capital expenditure
2,727
2,520
2,437
+8.2%
Free cash flow
13,450
15,745
13,428
-14.6%
Free cash flow margin
4.2%
5.4%
5.0%
Cash from investing
-5,047
-5,261
-5,534
Cash from financing
-10,516
-11,356
-7,696
Depreciation and amortisation
4,224
4,486
4,441
-5.8%
Share-based compensation
447
484
400
-7.6%
Buybacks
3,500
0.0
0.0
Dividends paid
2,907
2,625
2,624
+10.7%
Dividend per share
$2.20
$2.00
$2.00
+10.0%
Diluted shares, weighted
1,323m
1,329m
1,314m
-0.5%
Shares outstanding at period end
1,300m
1,322m
1,310m
-1.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
71,469
74,535
69,389
-4.1%
Non-controlling interest
300
306
312
-2.0%
Debt
52,254
56,176
64,647
-7.0%
Operating lease liabilities
16,800
18,177
18,757
-7.6%
Finance lease liabilities
1,406
1,250
1,050
+12.5%
Other liabilities
86,046
82,555
76,560
+4.2%
Total liabilities and equity
228,275
232,999
230,715
-2.0%
Fixed assets
12,873
12,896
12,606
-0.2%
Goodwill
78,150
79,121
79,552
-1.2%
Intangible assets
24,754
29,026
31,142
-14.7%
Investments
23,874
26,142
23,812
-8.7%
Cash and equivalents
12,945
9,408
7,854
+37.6%
Receivables
27,276
24,431
21,742
+11.6%
Inventory
19,090
17,760
18,496
+7.5%
Other assets
29,313
34,215
35,511
-14.3%
Total assets
228,275
232,999
230,715
-2.0%
10-K for the year ended 31 December 2022, filed 8 February 2023: the filing.