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The latest data point for CVS's EV/EBITDA ratio in Q1'26 stands at 34.24, marking a substantial increase from the previous quarter's 31.69 in Q4'25 and indicating heightened valuation relative to earnings before interest, taxes, depreciation, and amortization. Over the period from Q2'23 to Q1'26, the EV/EBITDA ratio exhibited volatility with an overall upward trend, starting at 15.59 in Q2'23 before dropping sharply to a low of 8.33 in Q1'24, then stabilizing around 8-11 through Q2'25, and surging to 34.24 by Q1'26; this pattern suggests improving operational efficiency or market optimism in recent quarters, though the late-period spike warrants monitoring for sustainability amid potential sector pressures.