CVS Health Corp (CVS)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 8,344,000 | 4,311,000 | 7,910,000 | 7,179,000 | 6,634,000 |
| Total assets | US$ in thousands | 249,728,000 | 228,275,000 | 232,999,000 | 230,715,000 | 222,449,000 |
| ROA | 3.34% | 1.89% | 3.39% | 3.11% | 2.98% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $8,344,000K ÷ $249,728,000K
= 3.34%
CVS Health Corp's return on assets (ROA) has fluctuated over the past five years, ranging from 1.82% in 2022 to 3.39% in 2021. In 2023, the ROA increased significantly to 3.34%, indicating that the company generated $3.34 in net income for every $100 of total assets. This improvement suggests that CVS Health Corp effectively utilized its assets to generate profits during the year. Overall, the trend in ROA shows variability but generally indicates the company's ability to generate returns relative to its asset base. It will be important to continue monitoring ROA to assess CVS Health Corp's asset efficiency and profitability in the future.
Peer comparison
Dec 31, 2023