As of Q4'25, CVS's P/B Ratio stands at 1.34, marking a notable increase from the previous quarter's value of 1.403 in Q3'25 and reflecting a recovery from the recent low of 0.948 observed in Q2'24. This latest figure suggests a return to levels seen in early 2023, indicating renewed investor confidence in the company's book value. Analyzing the period from Q1'23 to Q4'25, the P/B Ratio demonstrates moderate volatility with a significant dip in the first half of 2024, reaching its lowest point at 0.948 in Q2'24. After this trough, the ratio steadily rebounded, peaking at 1.403 in Q3'25 before slightly easing to 1.34 in Q4'25. Overall, the trend highlights a period of pressure on valuation in 2024, followed by a strong recovery and stabilization toward the end of the observed timeframe.