CVS HealthXSWX:CVS -0.93%77 ROC (Joel Greenblatt) % is 67.10% as of Mar. 2026, which is 72% above its 10-year median of 39.10. GuruFocus rates XSWX:CVS with a GF Score™ of 77/100 and a GF Value™ of CHF62.18. The stock has 10 warning signs investors should review. Among 15 Healthcare Plans companies, CVS Health ranks worse than 73.33% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. CVS Health's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 67.10%.
The historical rank and industry rank for CVS Health's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:CVS'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 18.44 Med: 39.1 Max: 78.68
Current: 23.31
During the past 13 years, CVS Health's highest ROC (Joel Greenblatt) % was 78.68%. The lowest was 18.44%. And the median was 39.10%.
XSWX:CVS's ROC (Joel Greenblatt) % is ranked worse than 73.33% of 15
companies
in the Healthcare Plans industry
Industry Median: 88.08
vs XSWX:CVS: 23.31
CVS Health's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -10.50% per year.
CVS Health (XSWX:CVS) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
CVS Health ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for CVS Health's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:CVS vs ELV, CI, HUM: ROC (Joel Greenblatt) % Comparison
For the Healthcare Plans subindustry, CVS Health's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
CVS Health ROC (Joel Greenblatt) % vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, CVS Health's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CVS Health's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 67.10% mean?
CVS Health (XSWX:CVS) has a ROC (Joel Greenblatt) % of 67.10% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on CVS Health and its competitors. This is 72% above median its historical median of 39.10. Over the past decade, CVS Health's ROC (Joel Greenblatt) % has ranged from 18.44 to 78.68. According to the industry distribution chart, CVS Health ranks #11 out of 15 companies in the Healthcare Plans industry, placing it in the top 73.3%.
Is CVS Health's ROC (Joel Greenblatt) % too high?
CVS Health's current ROC (Joel Greenblatt) % of 67.10% is 72% above median its 10-year median of 39.10. Over the past 10 years, this metric has ranged from a low of 18.44 to a high of 78.68. The Healthcare Plans industry median ROC (Joel Greenblatt) % is 88.08. CVS Health's value of 67.10% is 23.8% below this industry median. Based on the distribution chart, CVS Health ranks #11 out of 15 companies in the Healthcare Plans industry, which is below the industry midpoint. Overall, CVS Health has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does CVS Health's ROC (Joel Greenblatt) % compare to ELV and CI?
According to the Healthcare Plans industry distribution chart, CVS Health ranks #11 out of 15 companies for ROC (Joel Greenblatt) %. This places CVS Health in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 88.08. CVS Health's value of 67.10% is 23.8% below this benchmark. Historically, CVS Health's own ROC (Joel Greenblatt) % has ranged from 18.44 to 78.68 over the past decade. While the company's 10-year median is 39.10 vs. the industry median of 88.08, CVS Health has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Healthcare Plans company?
The median ROC (Joel Greenblatt) % among Healthcare Plans companies is 88.08, based on 15 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CVS Health's current ROC (Joel Greenblatt) % of 67.10% is 23.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on CVS Health and its competitors. For the Healthcare Plans industry, the median ROC (Joel Greenblatt) % is 88.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CVS Health's current ROC (Joel Greenblatt) % is 67.10%, which is 72% above median its own 10-year median of 39.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CVS Health stock overvalued right now?
CVS Health (XSWX:CVS) has a current ROC (Joel Greenblatt) % of 67.10%. The stock's GF Value™ is CHF62.18, compared to a current price of CHF83.03 — trading 33.5% above its estimated fair value. The current ROC (Joel Greenblatt) % is 67.10%, which is 72% above median its 10-year median of 39.10 and 23.8% below the Healthcare Plans industry median of 88.08. CVS Health's overall GF Score™ is 77/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For CVS Health (XSWX:CVS), the current ROC (Joel Greenblatt) % is 67.10% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is CVS Health (XSWX:CVS) Overvalued in 2026?
Based on GuruFocus' analysis, CVS Health stock appears to be overvalued.
The current stock price of CHF83.03 is trading 33.5% above its estimated GF Value™ of CHF62.18.
Key valuation signals for XSWX:CVS:
ROC (Joel Greenblatt) %: 67.10% (72% above median its 10-year median of 39.10)
GF Value™: CHF62.18 vs. price of CHF83.03 (33.5% above fair value)
Industry Position: 23.8% below the Healthcare Plans median (#11 of 15)
No single metric tells the full story. See the XSWX:CVS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CVS Health offers a diverse set of healthcare services. Its roots are in its retail pharmacy operations, where it operates around 9,000 stores primarily in the US. CVS is also a large pharmacy benefit manager (acquired through Caremark), processing about 2 billion adjusted claims annually. It operates a top-tier health insurer (acquired through Aetna) through which it serves about 27 million medical members. The acquisition of Oak Street Health added primary care services to the mix, which could have significant synergies with all existing business lines.
77GF Score
Get the complete analysis for XSWX:CVS
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:CVS has been successfully added to your 
