Friday 30 October 2026 Export CVS’s income statement to Excel — free account

CVS Health Corporation

CVS Health Corporation’s revenue for fiscal 2025 (year ended December 2025) was $402.1 billion, up 7.85% from fiscal 2024. In the quarter to June 2026, revenue grew 7.26%, EPS grew 187.7%, free cash flow grew 338.3% and total debt fell 7.64%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten.

90.26 0.07 −0.08%

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Market cap: $115.5B
P/E: 23.6×
Fwd P/E: 13.6×
Dividend yield: 2.95%
F-score: 7/9
Altman Z: 2.26
Beneish M: −2.64
Dividend safety: 43/100

Overview Business Profile Earnings & Analysis Segments Filings

CVS Health Corporation (CVS) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Health Services	190,425	47.36%
Health Care Benefits	143,354	35.65%
Pharmacy & Consumer Wellness	139,367	34.66%
Gross margin		44.99%
Operating margin		1.16%
Pre-tax margin		0.53%

Revenue by product or service $m

Line	FY2018	FY2017	FY2016
Products	183,910 94.52%	180,063 97.44%	173,377 97.66%
Services	1,825 0.94%	1,144 0.62%	1,080 0.61%
Premiums	—	—	3,069 1.73%
Other, not broken out	8,844 4.55%	3,579 1.94%	—
Revenue	194,579	184,786	177,526

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Health Services	190,425 47.36%	173,605 46.57%	186,843 52.22%	169,576 52.59%	153,892 52.68%	—	—	—	—	—	—	—	—	—	—	—	—	—
Health Care Benefits	143,354 35.65%	130,665 35.05%	105,646 29.53%	91,350 28.33%	82,119 28.11%	75,467 28.09%	69,604 27.11%	8,962 4.61%	3,587 1.94%	0 0.00%	—	—	—	—	—	—	—	—
Pharmacy & Consumer Wellness	139,367 34.66%	124,500 33.40%	116,763 32.64%	108,596 33.68%	101,620 34.79%	—	—	—	—	—	—	—	—	—	—	—	—	—
Pharmacy Services	—	—	—	—	—	141,938 52.82%	141,491 55.10%	134,736 69.24%	130,822 70.80%	119,963 67.57%	100,363 65.47%	88,440 63.46%	76,208 60.12%	73,444 59.65%	58,874 54.98%	47,145 49.22%	50,551 51.47%	43,769 50.04%
Retail Long-Term Care	—	—	—	—	—	91,198 33.94%	86,608 33.73%	83,989 43.16%	79,398 42.97%	81,100 45.68%	72,007 46.97%	67,798 48.65%	65,618 51.77%	63,641 51.69%	59,579 55.64%	57,345 59.87%	55,355 56.36%	48,990 56.01%
Corporate and Other	—	—	—	—	—	—	—	—	16 0.01%	0 0.00%	—	—	—	—	—	—	—	—
Corporate	—	—	—	—	—	—	—	—	—	—	—	0 0.00%	0 0.00%	0 0.00%	0 0.00%	—	—	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	(13,965) (11.34%)	(11,373) (10.62%)	(8,712) (9.10%)	(7,691) (7.83%)	(5,287) (6.04%)
Eliminations	(71,079) (17.68%)	(55,961) (15.01%)	(51,476) (14.39%)	(47,055) (14.59%)	(45,520) (15.58%)	(39,897) (14.85%)	(40,927) (15.94%)	(33,108) (17.02%)	(29,037) (15.71%)	(23,537) (13.26%)	(19,080) (12.45%)	(16,871) (12.11%)	(15,065) (11.88%)	—	—	—	—	—
Revenue	402,067	372,809	357,776	322,467	292,111	268,706	256,776	194,579	184,786	177,526	153,290	139,367	126,761	123,120	107,080	95,778	98,215	87,472

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Pharmacy Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Retail Long-Term Care	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Health Care Benefits	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Commercial medical membership	Q2 FY2026	18.3M	18.9M	−2.86%
Days Claims Payable	Q2 FY2026	41.70	40.90	+1.96%
Medicaid medical membership	Q2 FY2026	2.3M	2.4M	−2.56%
Medicare Advantage medical membership	Q2 FY2026	4.2M	4.2M	−0.90%
Medicare Prescription Drug Plan (standalone)	Q2 FY2026	3.9M	4.1M	−4.80%
Medicare Supplement medical membership	Q2 FY2026	1.2M	1.2M	−4.85%
People served through health insurance products and related services	Q2 FY2026	37.0M	—	—
Pharmacy benefits manager plan members	Q2 FY2026	87.0M	—	—
Pharmacy claims processed	Q2 FY2026	473.0M	469.0M	+0.85%
Prescriptions filled	Q2 FY2026	457.0M	438.1M	+4.31%
Retail pharmacy locations	Q2 FY2026	9.0K	—	—
Total medical membership	Q2 FY2026	26.0M	26.7M	−2.61%
Walk-in and primary care medical clinics	Q2 FY2026	1.0K	—	—

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Commercial medical membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days Claims Payable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicaid medical membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicare Advantage medical membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicare Prescription Drug Plan (standalone)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicare Supplement medical membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
People served through health insurance products and related services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Pharmacy benefits manager plan members	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Pharmacy claims processed	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Prescriptions filled	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Retail pharmacy locations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total medical membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Walk-in and primary care medical clinics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.