• CVS Health average debt/equity ratio for 2023 was 0.8, a 14.29% decline from 2022.
• CVS Health average debt/equity ratio for 2022 was 0.7, a 9.09% increase from 2021.
• CVS Health average debt/equity ratio for 2021 was 0.77, a 16.3% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.