CVS Health Corp (CVS)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | 64,699,000 |
| Total stockholders’ equity | US$ in thousands | 76,461,000 | 71,469,000 | 75,075,000 | 69,389,000 | 63,864,000 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $76,461,000K
= 0.00
The debt-to-equity ratio of CVS Health Corp has exhibited a fluctuating trend over the past five years. The ratio decreased from 1.07 in 2019 to 0.81 in 2023, indicating a reduction in the level of debt relative to equity. This downward trend suggests a favorable shift towards a more balanced capital structure with lower reliance on debt financing. In 2020, the ratio spiked to 0.93 but then trended downwards again in the subsequent years. Overall, the general downward trend in the debt-to-equity ratio reflects an improvement in the company's financial leverage and a potentially lower level of financial risk.
Peer comparison
Dec 31, 2023