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Calculate the Net Present Value analysis of the proposed strategys new cash flow and EPS/EBIT analysis NOTE: To construct the first cash flow (cf 1
Calculate the Net Present Value analysis of the proposed strategys new cash flow and EPS/EBIT analysis NOTE: To construct the first cash flow (cf1) at the very minimum, the new revenue from your strategy(s) must be discounted back to the present value by calculating EBIT and that figure will be your cfn for each year. cf0 (initial cost of your strategy), cf1 (discounted cash flow first year), r (opportunity cost of capital, the rate of the next best alternative use of cash/debt/equity resources).
Statement of Cashflow for CVS | ||||||||||||||||
Operating Activities | ||||||||||||||||
Fiscal year is January-December. All values USD millions. | 2016 | 2017 | 2018, with strategy | Deltas | 2018, without strategy | Deltas | 2019, with strategy | Deltas | 2019, without strategy | Deltas | 2020, with strategy | Deltas | 2020, without strategy | Deltas | Analysis | |
Net Income before Extraordinaries | 5.32B | 6.62 | 6.77 | 0.15 | 5.63 | -0.99 | 8.41 | 1.64 | 6.45 | 0.82 | 11.23 | 2.82 | 7.28 | 0.83 | Net income increases as sales increase and COGS remain as low as possible | |
Net Income Growth | 1.53% | 24.52% | 2.27% | -0.22254 | -14.95% | -0.39 | 24.22% | 0.22 | 14.56% | 0.30 | 33.53% | 0.09 | 12.87% | -0.02 | Steady growth of net income | |
Depreciation, Depletion & Amortization | 2.48B | 2.48 | 2.58 | 0.1 | 2.56 | 0.08 | 2.64 | 0.06 | 2.61 | 0.05 | 2.7 | 0.06 | 2.68 | 0.07 | ||
Depreciation and Depletion | 1.7B | 1.7 | 1.8 | 0.1 | 1.7 | 0.00 | 1.9 | 0.10 | 1.8 | 0.10 | 2.1 | 0.20 | 1.9 | 0.10 | ||
Amortization of Intangible Assets | 775M | 0.779 | 0.782 | 0.003 | 0.625 | -0.15 | 0.785 | 0.00 | 0.685 | 0.06 | 0.835 | 0.05 | 0.724 | 0.04 | ||
Other Funds | 1.02B | 0.655 | 0.75 | 0.095 | 0.624 | -0.03 | 0.856 | 0.11 | 0.723 | 0.10 | 0.875 | 0.02 | 0.753 | 0.03 | ||
Funds from Operations | 8.81B | 8.42 | 8.62 | 0.2 | 7.52 | -0.90 | 8.75 | 0.13 | 7.65 | 0.13 | 8.95 | 0.20 | 7.5 | -0.15 | ||
Changes in Working Capital | 1.26B | -0.416 | -0.456 | -0.04 | -0.435 | -0.02 | -0.525 | -0.07 | -0.385 | 0.05 | -0.526 | 0.00 | -0.425 | -0.04 | ||
Receivables | (243M) | -0.941 | -0.852 | 0.089 | -0.987 | -0.05 | -0.752 | 0.10 | -0.952 | 0.04 | -0.767 | -0.02 | -0.953 | 0.00 | ||
Accounts Payable | 2.19B | 1.71 | 2.2 | 0.49 | 2.1 | 0.39 | 2.5 | 0.30 | 2.25 | 0.15 | 2.8 | 0.30 | 2.4 | 0.15 | ||
Other Assets/Liabilities | (6M) | -0.3 | -0.02 | 0.28 | -0.04 | 0.26 | -0.052 | -0.03 | -0.042 | 0.00 | -0.062 | -0.01 | -0.052 | -0.01 | ||
Net Operating Cash Flow | 10.07B | 8.01 | 9.224 | 1.214 | 7.707 | -0.30 | 9.662 | 0.44 | 8.129 | 0.42 | 10.005 | 0.34 | 8.047 | -0.08 | This increases as money is utilized well | |
Net Operating Cash Flow Growth | 19.70% | -20.48% | 15.16% | 0.356361 | -3.78% | 0.17 | 4.75% | -0.10 | 5.48% | 0.09 | 3.55% | -0.01 | -1.01% | -0.06 | ||
2016 | 2017 | 2018 | 2018 | 2019 | 2019 | 2020 | 2020 | |||||||||
Capital Expenditures | (2.22B) | -1.92 | -2.02 | -0.1 | -1.86 | 0.06 | -2.03 | -0.01 | -1.95 | -0.09 | -2.05 | -0.02 | -1.87 | 0.08 | ||
Net Assets from Acquisitions | (578M) | -1.29 | -1.35 | -0.06 | -1.45 | -0.16 | -1.35 | 0.00 | -1.52 | -0.07 | -1.42 | -0.07 | -1.52 | 0.00 | ||
Sale of Fixed Assets & Businesses | 267M | 0.298 | 0.305 | 0.007 | 0.299 | 0.00 | 0.312 | 0.01 | 0.305 | 0.01 | 0.325 | 0.01 | 0.31 | 0.01 | ||
Purchase/Sale of Investments | 26M | -0.025 | 0.022 | 0.047 | 0.01 | 0.04 | 0.015 | 0.01 | 0.012 | 0.00 | 0.025 | 0.01 | 0.024 | 0.01 | ||
Purchase of Investments | (65M) | -0.086 | -0.082 | 0.004 | -0.095 | -0.01 | -0.0853 | 0.00 | -0.095 | 0.00 | 0.075 | 0.16 | 0.0853 | 0.18 | ||
Sale/Maturity of Investments | 91M | -0.061 | 0.05 | 0.111 | 0.042 | 0.10 | 0.067 | 0.02 | 0.035 | -0.01 | 0.045 | -0.02 | 0.058 | 0.02 | ||
Net Investing Cash Flow | (2.51B) | -2.93 | -3.075 | -0.145 | -3.054 | -0.12 | -3.0713 | 0.00 | -3.213 | -0.16 | -3 | 0.07 | -2.9127 | 0.30 | ||
Net Investing Cash Flow Growth | 81.30% | -16.86% | 4.95% | 0.218088 | 4.23% | 0.21 | -0.12% | -0.05 | 5.21% | 0.01 | -2.32% | -0.02 | -9.35% | -0.15 | ||
2016 | 2017 | 2018 | 2018 | 2019 | 2019 | 2020 | 2020 | |||||||||
Cash Dividends Paid - Total | (1.84B) | -2.05 | -2.1 | -0.05 | -2.06 | -0.01 | -2.22 | -0.12 | -2.08 | -0.02 | -2.35 | -0.13 | -2.4 | -0.32 | Cash dividends increase as company value increases | |
Change in Capital Stock | (4.24B) | -4.03 | -4.05 | -0.02 | -2.58 | 1.45 | -4.2 | -0.15 | -2.62 | -0.04 | -4.75 | -0.55 | -4 | -1.38 | ||
Sale of Common & Preferred Stock | 224M | 0.329 | 0.35 | 0.021 | 0.321 | -0.01 | 0.32 | -0.03 | 0.335 | 0.01 | 0.85 | 0.53 | 0.385 | 0.05 | ||
Issuance/Reduction of Debt, Net | (614M) | -0.597 | -0.612 | -0.015 | -0.685 | -0.09 | -0.658 | -0.05 | -0.721 | -0.04 | -0.652 | 0.01 | -0.685 | 0.04 | ||
Change in Current Debt | 1.87B | -0.598 | -0.685 | -0.087 | -0.75 | -0.15 | -0.785 | -0.10 | -0.65 | 0.10 | -0.75 | 0.04 | -0.825 | -0.18 | ||
Net Financing Cash Flow | (6.65B) | -6.75 | -7.097 | -0.347 | -5.754 | 1.00 | -7.543 | -0.45 | -5.736 | 0.02 | -7.652 | -0.11 | -7.525 | -1.79 | ||
Net Financing Cash Flow Growth | -232.84% | -1.52% | 5.14% | 0.066607 | -14.76% | -0.13 | 6.28% | 0.01 | -0.31% | 0.14 | 1.45% | -0.05 | 31.19% | 0.32 | ||
Net Change in Cash | 912M | -1.68 | -0.948 | 0.732 | -1.101 | 0.58 | -0.9523 | 0.00 | -0.82 | 0.28 | -0.647 | 0.31 | -2.3907 | -1.57 | ||
Free Cash Flow | 7.85B | 6.09 | 7.72 | 1.628 | 6.73 | 0.64 | 9.36 | 1.64 | 7.27 | 0.54 | 11.88 | 2.51 | 9.67 | 2.40 | Free cash flow increases as the company is able to pay liabilities and increase assets | |
Free Cash Flow Growth | 29.78% | -22.38% | 26.73% | 0.491123 | 10.53% | 0.33 | 21.30% | -0.05 | 8.01% | -0.03 | 26.86% | 0.06 | 33.02% | 0.25 |
Income Statement for CVS | |||||||||||||||
Fiscal year is January-December. All values USD millions. | 2016 | 2017 | 2018, with strategy | Deltas | 2018, without strategy | Deltas | 2019, with strategy | Deltas | 2019, without strategy | Deltas | 2020, with strategy | Deltas | 2020, without strategy | Deltas | Analysis |
Sales/Revenue | 177.53 | 184.77 | 195.77 | 11 | 188.12 | 3.35 | 208.6 | 12.83 | 193 | 4.88 | 225.5 | 16.9 | 204.56 | 11.56 | Sales will increase with or without strategy changes, but they will increase more with the new strategy |
Sales Growth | 15.81% | 4.08% | 5.95% | 1.87% | 1.81% | -2.27% | 6.55% | 0.60% | 2.59% | 0.78% | 8.10% | 1.55% | 5.99% | 3.40% | |
Cost of Goods Sold (COGS) incl. D&A | 148.62 | 156.22 | 164.52 | 8.3 | 160.2 | 3.98 | 175 | 10.48 | 165 | 4.8 | 187.62 | 12.62 | 175 | 10 | COGS will increase as sales increase, but they will increase more with new strategies as sales will continue to increase |
COGS excluding D&A | 146.13 | 153.7 | 163.24 | 9.54 | 157 | 3.3 | 185.6 | 22.36 | 162.5 | 5.5 | 197.89 | 12.29 | 168.9 | 6.4 | |
Depreciation & Amortization Expense | 2.5 | 2.52 | 2.58 | 0.06 | 2.56 | 0.04 | 2.64 | 0.06 | 2.61 | 0.05 | 2.7 | 0.06 | 2.68 | 0.07 | This will remain relatively stable. It could increase more with our strategy of expansion and adding more real estate and equipment. |
Depreciation | 1.7 | 1.7 | 1.8 | 0.1 | 1.7 | 0 | 1.9 | 0.1 | 1.8 | 0.1 | 2.1 | 0.2 | 1.9 | 0.1 | |
Amortization of Intangibles | 795 | 817 | 905 | 88 | 850 | 33 | 985 | 80 | 875 | 25 | 1003 | 18 | 923 | 48 | |
COGS Growth | 17.25% | 5.11% | 5.31% | 0.00203 | 2.55% | -0.0256 | 6.37% | 0.011 | 3.00% | 0.004 | 7.21% | 0.008414 | 6.06% | 0.030644 | |
Gross Income | 28.9 | 28.55 | 31.25 | 2.7 | 27.92 | -0.63 | 33.6 | 2.35 | 28 | 0.08 | 37.88 | 4.28 | 29.56 | 1.56 | Gross income will increase with our strategy of growth |
Gross Income Growth | 8.95% | -1.23% | 1.21% | 0.02441 | 2.21% | 0.03437 | 7.52% | 0.063 | 0.29% | -0.019 | 12.74% | 0.052181 | 5.57% | 0.052849 | |
Gross Profit Margin | - | 15.45% | 15.96% | 0.00513 | 14.84% | -0.61% | 16.11% | 0.001 | 14.51% | -0.003 | 16.80% | 0.006908 | 14.45% | -0.00057 | Gross Profit margin will increase as sales increase |
2016 | 2017 | 218 | 2018 | 2019 | 2019 | 2020 | 2020 | ||||||||
SG&A Expense | 18.27B | 18.56 | 16.5 | -2.06 | 17 | -1.56 | 15 | -1.5 | 16 | -1 | 14 | -1 | 16 | 0 | |
Unusual Expense | 936M | 470 | 550 | 80 | 625 | 155 | 300 | -250 | 350 | -275 | 545 | 245 | 486 | 136 | |
EBIT after Unusual Expense | 9.7B | 9.52 | 14.2 | 4.68 | 10.295 | 0.775 | 18.3 | 4.1 | 11.65 | 1.355 | 23.335 | 5.035 | 13.074 | 1.424 | |
Non Operating Income/Expense | 2M | 207 | 1.5 | -205.5 | 0.5 | -206.5 | 1.75 | 0.25 | 0.75 | 0.25 | 1.5 | -0.25 | 0.75 | 0 | Strategy will be to increase non-operating income |
Non-Operating Interest Income | 20M | 21 | 20 | -1 | 23 | 2 | 21 | 1 | 24 | 1 | 23 | 2 | 26 | 2 | |
Interest Expense | 1.08B | 1.06 | 1.11 | 0.05 | 1.15 | 0.09 | 1.16 | 0.05 | 1.21 | 0.06 | 1.23 | 0.07 | 1.3 | 0.09 | |
Interest Expense Growth | 25.44% | -1.57% | 4.72% | 0.06287 | 8.49% | 0.10061 | 4.50% | -0.002 | 5.22% | -0.033 | 6.03% | 0.0153 | 7.44% | 0.022206 | |
Gross Interest Expense | 1.09B | 1.07 | 1.12 | 0.05 | 1.15 | 0.08 | 1.09 | -0.03 | 1.15 | 0 | 1.12 | 0.03 | 1.2 | 0.05 | |
Interest Capitalized | 13M | 8 | 9 | 1 | 10 | 2 | 9 | 0 | 8 | -2 | 11 | 2 | 12 | 4 | |
Pretax Income | 8.64B | 8.27 | 13.305 | 5.035 | 9.38 | 1.11 | 17.3675 | 4.062 | 10.6875 | 1.307 | 22.35 | 4.9825 | 12.0415 | 1.354 | |
Pretax Income Growth | 0.24% | -4.27% | 60.88% | 0.65153 | 13.42% | 0.17692 | 30.53% | -0.303 | 13.94% | 0.005 | 28.69% | -0.01845 | 12.67% | -0.0127 | |
Income Tax | 3.32B | 1.64 | 5.18895 | 3.54895 | 3.66 | 2.0182 | 6.77 | 1.584 | 4.168125 | 0.51 | 8.7165 | 1.943175 | 4.696185 | 0.52806 | |
Income Tax - Current Domestic | 3.31B | 3.06 | 5.45505 | 2.39505 | 3.85 | 0.7858 | 7.12 | 1.666 | 4.381875 | 0.536 | 9.1635 | 2.042825 | 4.937015 | 0.55514 | |
Income Tax - Deferred Domestic | 3M | -1.42 | -0.2661 | 1.1539 | -0.1876 | 1.2324 | -0.34735 | -0.081 | -0.21375 | -0.026 | -0.447 | -0.09965 | -0.24083 | -0.02708 | |
Other After Tax Income (Expense) | (27M) | -24 | -25 | -1 | -24 | 0 | -26 | -1 | -25 | -1 | -26 | 0 | -25 | 0 | |
Consolidated Net Income | 5.29B | 6.61 | 8.11605 | 1.50605 | 5.7218 | -0.8882 | 10.594175 | 2.478 | 6.519375 | 0.798 | 13.6335 | 3.039325 | 7.345315 | 0.82594 | |
Minority Interest Expense | 2M | 1 | 1 | 0 | 2 | 1 | 2 | 1 | 1 | -1 | 2 | 0 | 2 | 1 | |
Net Income | 5.29B | 6.61 | 8.11605 | 1.50605 | 5.7218 | -0.8882 | 10.594175 | 2.478 | 6.519375 | 0.798 | 13.6335 | 3.039325 | 7.345315 | 0.82594 | Net income increases under our new strategy as sales increase and expenses are handled well |
Net Income Growth | 1.71% | 24.85% | 22.78% | -0.02066 | -13.44% | -0.3829 | 30.53% | 0.077 | 13.94% | 0.274 | 28.69% | -0.01845 | 12.67% | -0.0127 | |
Extraordinaries & Discontinued Operations | (1M) | -8 | -7 | 1 | -9 | -1 | -5 | 2 | -7 | 2 | -4 | 1 | -7 | 0 | |
Extra Items & Gain/Loss Sale Of Assets | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Discontinued Operations | (1M) | -8 | 0 | 8 | 0 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net Income After Extraordinaries | 5.29B | 6.6 | 8.05 | 1.44605 | 5.63 | -0.9682 | 10.54 | 2.498 | 6.45 | 0.818 | 13.59 | 3.049325 | 7.28 | 0.82594 | |
Net Income Available to Common | 5.29B | 6.6 | 8.05 | 1.44605 | 5.63 | -0.9682 | 10.54 | 2.498 | 6.45 | 0.818 | 13.59 | 3.049325 | 7.28 | 0.82594 | |
EPS (Basic) | 4.93 | 6.47 | 6.58 | 0.11 | 5.2 | -1.27 | 7.2 | 0.62 | 6.1 | 0.9 | 7.8 | 0.6 | 6.5 | 0.4 | EPS will increase as company value increases |
EPS (Basic) Growth | 5.79% | 31.24% | 1.70% | -0.2954 | -19.63% | -0.5087 | 9.42% | 0.077 | 17.31% | 0.369 | 8.33% | -0.01089 | -0.17308 | ||
Basic Shares Outstanding | 1.07B | 1.02 | 1.03 | 0.01 | 1.01 | -0.01 | 1.04 | 0.01 | 1.05 | 0.04 | 1.02 | -0.02 | 1.01 | -0.04 | |
EPS (Diluted) | 4.9 | 6.44 | -6.44 | -6.44 | 0 | 0 | 0 | 0 |
Balance Sheet for CVS | |||||||||||||||
Assets | |||||||||||||||
Fiscal year is January-December. All values USD millions. | 2016 | 2017 | 2018, with strategy | Deltas | 2018, without strategy | Deltas | 2019, with strategy | Deltas | 2019, without strategy | Deltas | 2020, with strategy | Deltas | 2020, without strategy | Deltas | Analysis |
Cash & Short Term Investments | 3.46B | 1.81 | 2.1 | 0.29 | 1.95 | 0.14 | 2.95 | 0.85 | 2.42 | 0.47 | 3.8 | 0.85 | 3.1 | 0.68 | |
Cash Only | 3.37B | 1.7 | 1.95 | 0.25 | 1.83 | 0.13 | 2.75 | 0.8 | 2.28 | 0.45 | 3.67 | 0.92 | 2.9 | 0.62 | |
Short-Term Investments | 87M | 0.11 | 0.15 | 0.04 | 0.12 | 0.01 | 0.2 | 0.05 | 0.14 | 0.02 | 0.13 | -0.07 | 0.2 | 0.06 | |
Cash & Short Term Investments Growth | 35.77% | -47.74% | 36.36% | 0.841036 | 9.09% | 0.568309 | 33.33% | -0.0303 | 16.67% | 0.075758 | -35.00% | -0.68333 | 42.86% | 0.261905 | |
Total Accounts Receivable | 12.16B | 13.18 | 15.5 | 2.32 | 13.85 | 0.67 | 15.35 | -0.15 | 14.25 | 0.4 | 16.56 | 1.21 | 15.5 | 1.25 | |
Bad Debt/Doubtful Accounts | (286M) | -307 | -256 | 51 | -260 | 47 | -240 | 16 | -260 | 0 | -250 | -10 | -245 | 15 | |
Accounts Receivable Growth | 2.32% | 8.36% | 17.60% | 0.092424 | 5.08% | -0.03277 | -0.97% | -0.1857 | 2.89% | -0.02195 | 7.88% | 0.088505 | 8.77% | 0.058838 | |
Accounts Receivable Turnover | 14.59 | 14.02 | 14.5 | 0.48 | 14.2 | 0.18 | 14.6 | 0.1 | 14.3 | 0.1 | 14.7 | 0.1 | 14.4 | 0.1 | |
Inventories | 14.76B | 15.3 | 15.8 | 0.5 | 15.5 | 0.2 | 16.5 | 0.7 | 16.1 | 0.6 | 17.4 | 0.9 | 16.6 | 0.5 | |
Finished Goods | 14.76B | 15.3 | 15.8 | 0.5 | 15.5 | 0.2 | 16.5 | 0.7 | 16.1 | 0.6 | 17.4 | 0.9 | 16.6 | 0.5 | |
Other Current Assets | 660M | 945 | 950 | 5 | 875 | -70 | 960 | 10 | 880 | 5 | 980 | 20 | 895 | 15 | |
Miscellaneous Current Assets | 660M | 945 | 950 | 5 | 875 | -70 | 960 | 10 | 880 | 5 | 980 | 20 | 895 | 15 | |
Total Current Assets | 31.04B | 31.23 | 42.9 | 11.67 | 40.05 | 8.82 | 44.4 | 1.5 | 41.57 | 1.52 | 47.56 | 3.16 | 44.15 | 2.58 | Total current assets increase as cash flow is improved and debt is decreased |
2016 | 2017 | 2018 | 2018 | 2019 | 2019 | 2020 | 2020 | 1 | |||||||
Net Property, Plant & Equipment | 10.18B | 10.29 | 10.38 | 0.09 | 10.2 | -0.09 | 10.5 | 0.12 | 10.3 | 0.1 | 10.8 | 0.3 | 10.35 | 0.05 | Net property wil increase with our strategy as CVS will purchase more land and more sores |
Intangible Assets | 51.76B | 52.08 | 53.12 | 1.04 | 52.2 | 0.12 | 54.5 | 1.38 | 53 | 0.8 | 55.6 | 1.1 | 53.5 | 0.5 | |
Total Assets | 94.46B | 95.13 | 106.4 | 11.27 | 102.45 | 7.32 | 109.4 | 3 | 104.87 | 2.42 | 113.96 | 4.56 | 108 | 3.13 | Total assets increase as the company purchases more buildings and inventory |
2016 | 2017 | -2017 | -2017 | 0 | 0 | 0 | 0 | ||||||||
ST Debt & Current Portion LT Debt | 1.92B | 4.82 | 3.8 | -1.02 | 4.8 | -0.02 | 4.22 | 0.42 | 5.2 | 0.4 | 4.54 | 0.32 | 5.6 | 0.4 | Our strategy will increase cash flow and decrease the need for short-term debt |
Short Term Debt | 1.87B | 1.28 | -1.28 | -1.28 | 0 | 0 | 0 | 0 | |||||||
Current Portion of Long Term Debt | 42M | 3.55 | 5.62 | 2.07 | 6.2 | 2.65 | 6.4 | 0.78 | 5.35 | -0.85 | 7.5 | 1.1 | 8.5 | 3.15 | |
Accounts Payable | 17.4 | 19.22 | 20.21 | 0.99 | 19.5 | 0.28 | 21.86 | 1.65 | 20.23 | 0.73 | 22.86 | 1 | 21.3 | 1.07 | |
Accounts Payable Growth | 14.88% | 10.47% | 10.46% | -0.0001 | 1.46% | -0.09013 | 8.16% | -0.02295 | 3.74% | 0.022868 | 4.57% | -0.0359 | -0.03744 | ||
Other Current Liabilities | 6.94B | 6.61 | 6.85 | 0.24 | 6.94 | 0.33 | 6.5 | -0.35 | 7.2 | 0.26 | 6.5 | 0 | 6.95 | -0.25 | |
Total Current Liabilities | 26.25B | 30.65 | 32.83 | 2.18 | 31.5 | 0.85 | 34.85 | 2.02 | 32.95 | 1.45 | 35.75 | 0.9 | 33.76 | 0.81 | |
Long-Term Debt | 25.62B | 22.18 | 21.52 | -0.66 | 23.4 | 1.22 | 21.02 | -0.5 | 23.7 | 0.3 | 19.85 | -1.17 | 22.5 | -1.2 | Long-term debt should decrease as cash flow improves |
Deferred Taxes | 4.21B | 3 | 3.5 | 0.5 | 4.2 | 1.2 | 3.2 | -0.3 | 4.36 | 0.16 | 3.67 | 0.47 | 4.25 | -0.11 | |
Other Liabilities | 1.55B | 1.61 | 1.7 | 0.09 | 1.55 | -0.06 | 1.8 | 0.1 | 1.65 | 0.1 | 1.82 | 0.02 | 1.75 | 0.1 | |
Total Liabilities | 57.63B | 57.44 | 59.55 | 2.11 | 60.65 | 3.21 | 60.87 | 1.32 | 62.66 | 2.01 | 61.09 | 0.22 | 62.26 | -0.4 | Total liabilities remain relatively constant, as CVS expands and purchases more buildings and maintains some long-term debt |
Total Liabilities / Total Assets | 61.01% | 60.38% | 55.97% | -0.04412 | 59.20% | -0.0118 | 55.64% | -0.00328 | 59.75% | 0.005506 | 53.61% | -0.02033 | 57.65% | -0.02102 | |
Common Equity (Total) | 36.83B | 37.69 | 37.72 | 0.03 | 37.4 | -0.29 | 37.85 | 0.13 | 37.5 | 0.1 | 38.1 | 0.25 | 37.7 | 0.2 | |
Common Stock Par/Carry Value | 17M | 17 | 17 | 0 | 17 | 0 | 17 | 0 | 17 | 0 | 17 | 0 | 17 | 0 | |
Retained Earnings | 38.98B | 43.56 | 45.62 | 2.06 | 44.2 | 0.64 | 46.8 | 1.18 | 44.8 | 0.6 | 47.85 | 1.05 | 45.25 | 0.45 | Retained earnings increase, causing company value to increase |
Common Equity / Total Assets | 38.99% | 39.62% | 35.45% | -0.04169 | 36.51% | -0.03114 | 34.60% | -0.00853 | 35.76% | -0.00747 | 33.43% | -0.01165 | 34.91% | -0.00851 | |
Total Shareholders' Equity | 36.83B | 37.69 | 37.72 | 0.03 | 37.4 | -0.29 | 37.85 | 0.13 | 37.5 | 0.1 | 38.1 | 0.25 | 37.7 | 0.2 | Shareholder equity increases, increasing the desire for investors |
Total Shareholders' Equity / Total Assets | 38.99% | 39.62% | 35.45% | -0.04169 | 36.51% | -0.03114 | 34.60% | -0.00853 | 35.76% | -0.00747 | 33.43% | -0.01165 | 34.91% | -0.00851 | |
Total Equity | 36.83B | 37.7 | 37.72 | 0.02 | 37.4 | -0.3 | 37.85 | 0.13 | 37.5 | 0.1 | 38.1 | 0.25 | 37.7 | 0.2 | |
Liabilities & Shareholders' Equity | 94.46B | 95.13 | 97.27 | 2.14 | 98.05 | 2.92 | 98.72 | 1.45 | 100.16 | 2.11 | 99.19 | 0.47 | 99.96 | -0.2 |
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