1、2024 This research report is prepared by Equisights Research.Relevant disclosures are outlined at the end of this document.30/05/25 1CVS Health Corporation(NYSE:CVS)2024 This research report is prepared by Equisights Research.Relevant disclosures are outlined at the end of this document.30/05/25 2St

2、ock Rating&Target PriceFundamental Models Used And Company DescriptionCorporate TimelineExecutive Summary of Our Perspective:Investment MeritsKey Levers Influencing Future Growth:Segment Review,Drivers,Strategy,Outlook and ChallengesAnalyzing Key Metrics(KPI):Recently Reported Earnings vis-vis M

3、arket ExpectationsComparative Financial Statement Analysis:Reported Quarter-YoY&QoQ AnalysisEarnings Review:Corporate Timeline,Business Updates,Strategic Developments&Comparative AnalysisKey Risks&UncertaintySequential Financial Statement Analysis,Trends&Efficiency AnalysisQuarterly

4、Key Financial Ratios and Performance MetricsHistorical Financial Statement Analysis&CAGR TrendsAnnual Financial Statement Analysis:Income Statement,Balance Sheet&CashflowEarnings/Financial Forecasts and ValuationAnnual Forecasts:Income StatementAnnual Forecasts:Cash Flow StatementsForecasted

5、 Net Debt Levels&Capital StructureDiscounted Cash Flow(DCF)Valuation A Closer Look at DCF:Our Assumptions and MethodologyTerminal Value CalculationTarget Price AnalysisMarket Valuation MultiplesScenario/Sensitivity Analysis-Base Case,Bull Case&Bear CaseRelative Valuation Analysis:Comparables

6、 Valuation for Fair ValueComparable Company Analysis&Latest Market Capitalization Peer Review&Peer Comps:Financial Data,Operational Metrics and Valuation MultiplesCalculation of Implied Price Per Share&Intrinsic ValuationOwnership Activity by ShareholdingOwnership Summary by Type Environ