CVS Health (CVS)

NYSE Health Care Health Care Services S&P 500

$83.85

+2.52 (+3.10%)

Close of Nov 06, 2026 · end-of-day data

Source: CVS Health's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$177.53B	$184.76B	$193.92B	$256.78B	$268.71B	$292.11B	$322.47B	$357.78B	$372.81B	$402.07B
Cost of revenue	$148.67B	$156.22B	$156.45B	$158.72B	$163.98B	$175.80B	$196.89B	$217.10B	$206.29B	$221.17B
Gross profit	$28.86B	$28.55B	$37.47B	$98.06B	$104.72B	$116.31B	$125.58B	$140.68B	$166.52B	$180.90B
Operating income	$10.39B	$9.54B	$4.02B	$11.99B	$13.91B	$13.31B	$7.95B	$13.74B	$8.52B	$4.66B
Interest expense	$1.08B	$1.06B	$2.62B	$3.04B	$2.91B	$2.50B	$2.29B	$2.66B	$2.96B	$3.12B
Pre-tax income	$8.64B	$8.27B	$1.41B	$9.00B	$9.77B	$10.54B	$5.84B	$11.17B	$6.15B	$2.14B
Income tax	$3.32B	$1.64B	$2.00B	$2.37B	$2.57B	$2.55B	$1.51B	$2.81B	$1.56B	$408.00M
Net income	$5.32B	$6.62B	-$594.00M	$6.63B	$7.18B	$8.00B	$4.31B	$8.34B	$4.61B	$1.77B
EBITDA	$12.86B	$12.02B	$6.74B	$16.36B	$18.35B	$17.80B	$12.18B	$18.11B	$13.11B	$9.27B
EPS (basic)	$4.93	$6.47	$-0.57	$5.10	$5.48	$6.07	$3.29	$6.49	$3.67	$1.40
EPS (diluted)	$4.90	$6.44	$-0.57	$5.08	$5.46	$6.02	$3.26	$6.47	$3.66	$1.39
Diluted shares	1.08B	1.02B	1.04B	1.30B	1.31B	1.33B	1.32B	1.29B	1.26B	1.27B
Gross margin	16.3%	15.4%	19.3%	38.2%	39.0%	39.8%	38.9%	39.3%	44.7%	45.0%
Operating margin	5.9%	5.2%	2.1%	4.7%	5.2%	4.6%	2.5%	3.8%	2.3%	1.2%
Net margin	3.0%	3.6%	-0.3%	2.6%	2.7%	2.7%	1.3%	2.3%	1.2%	0.4%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$3.37B	$1.70B	$4.06B	$5.68B	$7.85B	$9.41B	$12.95B	$8.20B	$8.59B	$8.45B
Short-term investments	$87.00M	$111.00M	$2.52B	$2.37B	$3.00B	$3.12B	$2.78B	$3.26B	$2.41B	$2.15B
Receivables	$12.16B	$13.18B	$17.63B	$19.62B	$21.74B	$24.43B	$27.28B	$35.23B	$36.47B	$39.78B
Inventory	$14.76B	$15.30B	$16.45B	$17.52B	$18.50B	$17.76B	$19.09B	$18.02B	$18.11B	$19.25B
Total current assets	$31.04B	$31.23B	$45.24B	$50.30B	$56.37B	$60.03B	$65.63B	$67.86B	$68.64B	$74.71B
Goodwill	$38.25B	$38.45B	$78.68B	$79.75B	$79.55B	$79.12B	$78.15B	$91.27B	$91.27B	$85.48B
Total assets	$94.46B	$95.13B	$196.46B	$222.45B	$230.72B	$233.05B	$228.28B	$249.73B	$253.22B	$253.54B
Total current liabilities	$26.25B	$30.65B	$44.01B	$53.30B	$62.02B	$67.72B	$69.42B	$79.19B	$84.61B	$88.69B
Short-term debt	$42.00M	$3.54B	$1.26B	$3.78B	$0	$4.21B	$0	$200.00M	$2.12B	$0
Long-term debt	$25.61B	$22.18B	$71.44B	$64.70B	$59.21B	$51.97B	$50.48B	$58.64B	$60.53B	$60.50B
Total debt	$25.66B	$25.73B	$72.71B	$68.48B	$59.21B	$56.18B	$50.48B	$58.84B	$62.65B	$60.50B
Total liabilities	$57.63B	$57.44B	$137.91B	$158.28B	$161.01B	$158.21B	$156.51B	$173.09B	$177.49B	$178.16B
Shareholders' equity	$36.83B	$37.69B	$58.23B	$63.86B	$69.39B	$74.53B	$71.47B	$76.46B	$75.56B	$75.21B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$10.14B	$8.01B	$8.87B	$12.85B	$15.87B	$18.27B	$16.18B	$13.43B	$9.11B	$10.64B
Capital expenditures	$2.22B	$1.92B	$2.04B	$2.46B	$2.44B	$2.52B	$2.73B	$3.03B	$2.78B	$2.83B
Free cash flow	$7.92B	$6.09B	$6.83B	$10.39B	$13.43B	$15.74B	$13.45B	$10.39B	$6.33B	$7.81B
Investing cash flow	-$2.47B	-$2.88B	-$43.28B	-$3.34B	-$5.53B	-$5.26B	-$5.05B	-$20.89B	-$7.61B	-$5.87B
Financing cash flow	-$6.76B	-$6.75B	$36.82B	-$7.65B	-$7.70B	-$11.36B	-$10.52B	$2.68B	-$1.14B	-$4.94B
Dividends paid	$1.84B	$2.05B	$2.04B	$2.60B	$2.62B	$2.62B	$2.91B	$3.13B	$3.37B	$3.40B
Share buybacks	$4.46B	$4.36B	$0	$0	$0	$0	$3.50B	$2.01B	$3.02B	$0
Stock-based compensation	$222.00M	$234.00M	$280.00M	$453.00M	$400.00M	$484.00M	$447.00M	$588.00M	$540.00M	$535.00M
Depreciation & amortization	$2.48B	$2.48B	$2.72B	$4.37B	$4.44B	$4.49B	$4.22B	$4.37B	$4.60B	$4.61B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$93.81B	$88.44B	$91.23B	$95.43B	$97.71B	$94.59B	$98.92B	$102.87B	$105.69B	$100.43B	$106.10B	$108.40B
Cost of revenue	$57.42B	$48.07B	$50.00B	$52.95B	$55.27B	$51.06B	$54.01B	$57.05B	$59.06B	$55.44B	$58.86B	$61.19B
Gross profit	$36.39B	$40.36B	$41.24B	$42.48B	$42.44B	$43.53B	$44.91B	$45.83B	$46.63B	$44.98B	$47.23B	$47.21B
Operating income	$3.37B	$2.27B	$3.04B	$832.00M	$2.37B	$3.37B	$2.38B	-$3.21B	$2.11B	$4.68B	$4.70B	$3.57B
Interest expense	$690.00M	$716.00M	$732.00M	$752.00M	$758.00M	$785.00M	$763.00M	$784.00M	$787.00M	$774.00M	$757.00M	$747.00M
Pre-tax income	$2.71B	$1.58B	$2.34B	$105.00M	$2.13B	$2.62B	$1.65B	-$3.48B	$1.35B	$3.94B	$3.98B	$2.85B
Income tax	$658.00M	$456.00M	$569.00M	$34.00M	$503.00M	$835.00M	$634.00M	$508.00M	-$1.57B	$981.00M	$982.00M	$678.00M
Net income	$2.05B	$1.11B	$1.77B	$87.00M	$1.64B	$1.78B	$1.02B	-$3.98B	$2.94B	$2.94B	$2.98B	$2.17B
EBITDA	$4.51B	$3.41B	$4.20B	$1.99B	$3.52B	$4.53B	$3.55B	-$2.07B	$3.26B	$5.79B	$5.83B	$4.70B
EPS (basic)	$1.59	$0.88	$1.41	$0.07	$1.31	$1.41	$0.81	$-3.13	$2.33	$2.31	$2.33	$1.70
EPS (diluted)	$1.59	$0.88	$1.41	$0.07	$1.31	$1.41	$0.80	$-3.13	$2.32	$2.30	$2.31	$1.68
Diluted shares	1.00M	1.27B	1.26B	1.26B	0	1.26B	1.27B	1.27B	5.00M	1.28B	1.29B	1.29B
Gross margin	38.8%	45.6%	45.2%	44.5%	43.4%	46.0%	45.4%	44.5%	44.1%	44.8%	44.5%	43.6%
Operating margin	3.6%	2.6%	3.3%	0.9%	2.4%	3.6%	2.4%	-3.1%	2.0%	4.7%	4.4%	3.3%
Net margin	2.2%	1.3%	1.9%	0.1%	1.7%	1.9%	1.0%	-3.9%	2.8%	2.9%	2.8%	2.0%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$8.20B	$9.80B	$12.51B	$6.88B	$8.59B	$10.08B	$11.79B	$9.10B	$8.45B	$9.54B	$11.33B	$11.74B
Short-term investments	$3.26B	$3.29B	$3.75B	$2.81B	$2.41B	$2.58B	$2.39B	$2.13B	$2.15B	$2.26B	$2.63B	$3.15B
Receivables	$35.23B	$32.22B	$32.38B	$36.18B	$36.47B	$39.62B	$40.65B	$43.86B	$39.78B	$40.99B	$40.31B	$42.07B
Inventory	$18.02B	$16.35B	$16.07B	$17.65B	$18.11B	$17.39B	$17.45B	$18.96B	$19.25B	$17.77B	$17.62B	$18.24B
Total current assets	$67.86B	$67.47B	$69.95B	$67.34B	$68.64B	$73.19B	$75.65B	$77.11B	$74.71B	$74.82B	$75.35B	$79.39B
Goodwill	$91.27B	$91.27B	$91.27B	$91.27B	$91.27B	$91.20B	$91.20B	$85.48B	$85.48B	$85.48B	$85.48B	$85.48B
Total assets	$249.73B	$249.74B	$252.48B	$252.43B	$253.22B	$255.59B	$258.34B	$255.33B	$253.54B	$252.97B	$253.77B	$258.07B
Total current liabilities	$79.19B	$83.32B	$81.39B	$84.63B	$84.61B	$88.96B	$94.16B	$92.69B	$88.69B	$86.41B	$87.04B	$93.10B
Short-term debt	$200.00M	$2.72B	$0	$800.00M	$2.12B	$1.26B	$3.04B	$1.25B	$0	$2.58B	$1.96B	$3.46B
Long-term debt	$58.64B	$57.69B	$62.64B	$59.82B	$60.53B	$59.04B	$57.29B	$60.51B	$60.50B	$60.53B	$59.45B	$57.22B
Total debt	$58.84B	$60.41B	$62.64B	$60.62B	$62.65B	$60.30B	$60.33B	$61.76B	$60.50B	$63.11B	$61.41B	$60.68B
Total liabilities	$173.09B	$175.59B	$177.37B	$177.32B	$177.49B	$178.47B	$180.79B	$182.22B	$178.16B	$175.34B	$173.87B	$177.39B
Shareholders' equity	$76.46B	$73.97B	$74.93B	$74.94B	$75.56B	$76.93B	$77.38B	$72.93B	$75.21B	$77.46B	$79.70B	$80.50B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	-$2.64B	$4.90B	$3.09B	-$745.00M	$1.86B	$4.56B	$1.90B	$796.00M	$3.39B	$4.25B	$6.34B	$4.72B
Capital expenditures	$911.00M	$705.00M	$638.00M	$670.00M	$768.00M	$743.00M	$607.00M	$698.00M	$784.00M	$849.00M	$691.00M	$817.00M
Free cash flow	-$3.55B	$4.20B	$2.45B	-$1.42B	$1.09B	$3.81B	$1.29B	$98.00M	$2.61B	$3.40B	$5.65B	$3.91B
Investing cash flow	-$1.24B	-$2.09B	-$1.62B	-$3.35B	-$547.00M	-$762.00M	-$1.02B	-$2.09B	-$2.00B	-$874.00M	-$1.88B	-$2.79B
Financing cash flow	-$972.00M	-$1.23B	$1.25B	-$1.59B	$431.00M	-$2.33B	$806.00M	-$1.38B	-$2.03B	-$2.32B	-$2.69B	-$1.53B
Dividends paid	$779.00M	$840.00M	$858.00M	$837.00M	$838.00M	$840.00M	$866.00M	$846.00M	$845.00M	$847.00M	$878.00M	$853.00M
Share buybacks	-$1.00M	$3.03B	-$3.00M	-$1.00M	$0	$0	$0	$0	$0	—	—	—
Stock-based compensation	$127.00M	$137.00M	$133.00M	$133.00M	$137.00M	$126.00M	$136.00M	$138.00M	$135.00M	$266.00M	$176.00M	$168.00M
Depreciation & amortization	$1.13B	$1.14B	$1.15B	$1.16B	$1.15B	$1.15B	$1.17B	$1.13B	$1.15B	$1.11B	$1.13B	$1.13B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.