CVS Health Corp (CVS)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 13,743,000 | 13,821,000 | 6,212,000 | 7,647,000 | 7,746,000 | 6,524,000 | 13,504,000 | 13,161,000 | 13,193,000 | 13,488,000 | 13,676,000 | 14,030,000 | 13,911,000 | 14,424,000 | 14,103,000 | 12,755,000 | 11,987,000 | 9,774,000 | 9,420,000 | 4,715,000 |
| Total assets | US$ in thousands | 249,728,000 | 251,306,000 | 250,071,000 | 239,330,000 | 228,275,000 | 231,212,000 | 230,279,000 | 232,873,000 | 232,999,000 | 234,891,000 | 231,164,000 | 229,606,000 | 230,715,000 | 232,898,000 | 235,495,000 | 230,639,000 | 222,449,000 | 220,113,000 | 218,904,000 | 219,768,000 |
| Operating ROA | 5.50% | 5.50% | 2.48% | 3.20% | 3.39% | 2.82% | 5.86% | 5.65% | 5.66% | 5.74% | 5.92% | 6.11% | 6.03% | 6.19% | 5.99% | 5.53% | 5.39% | 4.44% | 4.30% | 2.15% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $13,743,000K ÷ $249,728,000K
= 5.50%
CVS Health Corp's operating return on assets (operating ROA) has shown a fluctuating trend over the past eight quarters. The operating ROA has ranged from a high of 7.05% in Q4 2022 to a low of 5.85% in Q4 2023. This indicates some level of variability in the company's ability to generate operating income relative to its total assets.
On average, the operating ROA has been relatively stable, with an average of around 6.51% over the period. This suggests that CVS Health Corp has been efficient in utilizing its assets to generate operating profits. However, the slight decline in the operating ROA in more recent quarters may warrant further investigation into the company's operational efficiency and asset management strategies.
Overall, CVS Health Corp's operating ROA performance indicates a moderate level of asset productivity and profitability, although there may be some areas for improvement to sustain or improve its operating income generation relative to its asset base.
Peer comparison
Dec 31, 2023