CVS vs. TMO
CVS (CVS Health Corporation) and TMO (Thermo Fisher Scientific Inc.) are both stocks. Both are in the Healthcare sector — CVS in Healthcare Plans, TMO in Diagnostics & Research. Over the past 10 years, CVS returned 3.16%/yr vs 12.28%/yr for TMO. At a 0.25 correlation, their price movements are largely independent.
Performance
CVS vs. TMO - Performance Comparison
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Returns By Period
In the year-to-date period, CVS achieves a 24.42% return, which is significantly higher than TMO's -18.87% return. Over the past 10 years, CVS has underperformed TMO with an annualized return of 3.16%, while TMO has yielded a comparatively higher 12.28% annualized return.
CVS
- 1D
- 1.20%
- 1M
- 7.21%
- YTD
- 24.42%
- 6M
- 29.02%
- 1Y
- 58.27%
- 3Y*
- 14.98%
- 5Y*
- 6.17%
- 10Y*
- 3.16%
TMO
- 1D
- -0.67%
- 1M
- 1.00%
- YTD
- -18.87%
- 6M
- -17.21%
- 1Y
- 17.28%
- 3Y*
- -2.93%
- 5Y*
- 1.21%
- 10Y*
- 12.28%
CVS vs. TMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 24.42% | 84.35% | -40.77% | -12.53% | -7.63% | 54.87% | -5.14% | 17.26% | -7.04% | -5.75% |
TMO Thermo Fisher Scientific Inc. | -18.87% | 11.78% | -1.72% | -3.36% | -17.29% | 43.54% | 43.72% | 45.55% | 18.21% | 35.03% |
Correlation
The correlation between CVS and TMO is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 1987 | 0.25 |
Over the past year, the correlation between CVS and TMO has dropped to 0.03 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
Fundamentals
CVS:
$124.17B
TMO:
$175.17B
CVS:
$2.30
TMO:
$18.22
CVS:
42.17
TMO:
25.78
CVS:
0.30
TMO:
3.91
CVS:
1.60
TMO:
3.37
CVS:
$407.91B
TMO:
$45.20B
CVS:
$56.59B
TMO:
$17.81B
CVS:
$9.99B
TMO:
$11.16B
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Return for Risk
CVS vs. TMO — Risk / Return Rank
CVS
TMO
CVS vs. TMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CVS Health Corporation (CVS) and Thermo Fisher Scientific Inc. (TMO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CVS | TMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.13 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.56 | 0.55 | +3.01 |
| Martin ratioReturn relative to average drawdown | 9.17 | 1.23 | +7.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVS | TMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 0.56 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.04 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | 0.47 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.40 | -0.06 |
Drawdowns
CVS vs. TMO - Drawdown Comparison
The maximum CVS drawdown since its inception was -64.07%, smaller than the maximum TMO drawdown of -71.16%. Use the drawdown chart below to compare losses from any high point for CVS and TMO.
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Drawdown Indicators
| CVS | TMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.07% | -71.16% | +7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -16.44% | -31.38% | +14.94% |
Max Drawdown (3Y)Largest decline over 3 years | -43.98% | -37.28% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -56.79% | -40.95% | -15.84% |
Max Drawdown (10Y)Largest decline over 10 years | -56.79% | -40.95% | -15.84% |
Current DrawdownCurrent decline from peak | -1.05% | -28.76% | +27.71% |
Average DrawdownAverage peak-to-trough decline | -19.55% | -18.02% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 14.09% | -7.72% |
Volatility
CVS vs. TMO - Volatility Comparison
The current volatility for CVS Health Corporation (CVS) is 8.88%, while Thermo Fisher Scientific Inc. (TMO) has a volatility of 9.96%. This indicates that CVS experiences smaller price fluctuations and is considered to be less risky than TMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVS | TMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.88% | 9.96% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 25.90% | 21.57% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.07% | 31.02% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.96% | 27.13% | +2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.30% | 26.33% | +2.97% |
Dividends
CVS vs. TMO - Dividend Comparison
CVS's dividend yield for the trailing twelve months is around 2.74%, more than TMO's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 2.74% | 3.35% | 5.93% | 3.06% | 2.36% | 1.94% | 2.93% | 2.69% | 3.05% | 2.76% | 2.15% | 1.43% |
TMO Thermo Fisher Scientific Inc. | 0.37% | 0.30% | 0.30% | 0.26% | 0.22% | 0.16% | 0.19% | 0.23% | 0.30% | 0.32% | 0.43% | 0.42% |
Financials
CVS vs. TMO - Financials Comparison
This section allows you to compare key financial metrics between CVS Health Corporation and Thermo Fisher Scientific Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CVS vs. TMO - Profitability Comparison
CVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a gross profit of 15.62B and revenue of 100.43B. Therefore, the gross margin over that period was 15.6%.
TMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a gross profit of 4.48B and revenue of 11.01B. Therefore, the gross margin over that period was 40.7%.
CVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported an operating income of 4.68B and revenue of 100.43B, resulting in an operating margin of 4.7%.
TMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported an operating income of 1.86B and revenue of 11.01B, resulting in an operating margin of 16.9%.
CVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a net income of 2.94B and revenue of 100.43B, resulting in a net margin of 2.9%.
TMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a net income of 1.65B and revenue of 11.01B, resulting in a net margin of 15.0%.
Frequently Asked Questions
CVS and TMO have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMO has higher volatility (9.96%) compared to CVS (8.88%). In terms of maximum drawdown, CVS dropped -64.07% vs TMO's -71.16%.
CVS currently has the higher Sharpe Ratio (1.89 vs 0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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