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CVS Health Corp (CVS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Health Care Services · DATA UPDATED 2026-08-16

CVS Health Corp (CVS) operates in the Health Care Services industry and is headquartered in Woonsocket, United States with about 219,000 employees. Its market capitalization is roughly $114 billion. In the fiscal year ended 2025-12-31, CVS reported $402.1B in revenue and $1.8B in net income.

CVS Health Corporation provides health solutions in the United States.

Interactive charts & full statements → Open the CVS valuation workbench →

CVS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$415.1B	$402.1B	$372.8B	$357.8B	$322.5B	$292.1B	$268.7B	$256.8B	$194.6B	$184.8B	$177.5B	$153.3B	$139.4B	$126.8B	$123.1B	$107.1B	$95.8B	$98.2B	$87.5B	$76.3B	$43.8B
Gross Profit	$58.7B	$55.4B	$51.4B	$54.4B	$54.5B	$52.1B	$49.0B	$45.5B	$31.5B	$28.5B	$28.8B	$26.5B	$25.4B	$23.8B	$22.5B	$20.6B	$20.2B	$20.4B	$18.3B	$16.1B	$11.7B
Gross Margin %	14.1%	13.8%	13.8%	15.2%	16.9%	17.8%	18.2%	17.7%	16.2%	15.4%	16.2%	17.3%	18.2%	18.8%	18.3%	19.2%	21.1%	20.7%	20.9%	21.1%	26.8%
Operating Income (EBIT)	$8.3B	$10.4B	$8.5B	$13.7B	$8.0B	$13.3B	$13.9B	$12.0B	$4.0B	$9.5B	$10.4B	$9.5B	$8.8B	$8.0B	$7.2B	$6.3B	$6.1B	$6.4B	$6.0B	$4.8B	$2.4B
Operating Margin %	2.0%	2.6%	2.3%	3.8%	2.5%	4.6%	5.2%	4.7%	2.1%	5.2%	5.9%	6.2%	6.3%	6.3%	5.9%	5.9%	6.4%	6.5%	6.9%	6.3%	5.6%
Net Income	$4.9B	$1.8B	$4.6B	$8.3B	$4.3B	$8.0B	$7.2B	$6.6B	($594M)	$6.6B	$5.3B	$5.2B	$4.6B	$4.6B	$3.9B	$3.5B	$3.4B	$3.7B	$3.2B	$2.6B	$1.4B
Net Margin %	1.2%	0.4%	1.2%	2.3%	1.3%	2.7%	2.7%	2.6%	-0.3%	3.6%	3.0%	3.4%	3.3%	3.6%	3.1%	3.2%	3.6%	3.8%	3.7%	3.5%	3.1%
EBITDA	$13.4B	$9.9B	$13.7B	$13.7B	$12.3B	$17.5B	$17.1B	$16.4B	$6.7B	$11.8B	$12.2B	$11.6B	$10.2B	$9.9B	$8.6B	$7.9B	$7.6B	$7.8B	$7.3B	$5.9B	$3.2B
Earnings Per Share (EPS)	$3.81	$1.39	$3.66	$6.47	$3.26	$6.02	$5.46	$5.08	$-0.57	$6.47	$4.93	$4.65	$3.97	$3.75	$3.02	$2.57	$2.49	$2.55	$2.19	$1.92	$1.60
Shares Outstanding (M)	1,283M	1,271M	1,262M	1,290M	1,323M	1,329M	1,314M	1,305M	1,044M	1,024M	1,079M	1,126M	1,169M	1,226M	1,280M	1,347M	1,377M	1,450M	1,469M	1,372M	853M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$106.1B	$100.4B	$105.7B	$102.9B	$98.9B	$94.6B	$97.7B	$95.4B
Gross Profit	$15.7B	$15.6B	$13.6B	$13.8B	$13.6B	$14.4B	$12.9B	$12.6B
Gross Margin %	14.8%	15.6%	12.8%	13.4%	13.7%	15.2%	13.2%	13.2%
Operating Income (EBIT)	$4.7B	$4.7B	$2.1B	($3.2B)	$2.4B	$3.4B	$2.4B	$832M
Operating Margin %	4.4%	4.7%	2.0%	-3.1%	2.4%	3.6%	2.4%	0.9%
Net Income	$3.0B	$2.9B	$2.9B	($4.0B)	$1.0B	$1.8B	$1.6B	$87M
Net Margin %	2.8%	2.9%	2.8%	-3.9%	1.0%	1.9%	1.7%	0.1%
EBITDA	$5.9B	$5.8B	$3.3B	($1.6B)	$3.6B	$4.6B	$4.0B	$2.0B
Earnings Per Share (EPS)	$2.33	$2.30	$2.30	$-3.13	$0.80	$1.41	$1.30	$0.07
Shares Outstanding (M)	1,283M	1,279M	1,277M	1,269M	1,270M	1,264M	1,261M	1,259M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVS Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$14.8B	$10.6B	$9.1B	$13.4B	$16.2B	$18.3B	$15.9B	$12.8B	$8.9B	$8.0B	$10.1B	$8.5B	$8.1B	$5.8B	$6.7B	$5.9B	$4.8B	$4.0B	$3.9B	$3.2B	$1.7B
Capital Expenditures (CapEx)	$3.0B	$2.8B	$2.8B	$3.0B	$2.7B	$2.5B	$2.4B	$2.5B	$2.0B	$1.9B	$2.2B	$2.4B	$2.1B	$2.0B	$2.0B	$1.9B	$2.0B	$2.5B	$2.2B	$1.8B	$1.8B
Free Cash Flow (FCF)	$11.8B	$7.8B	$6.3B	$10.4B	$13.4B	$15.7B	$13.4B	$10.4B	$6.8B	$6.1B	$7.9B	$6.2B	$6.0B	$3.8B	$4.6B	$4.0B	$2.8B	$1.5B	$1.8B	$1.4B	($26M)
FCF Margin %	2.8%	1.9%	1.7%	2.9%	4.2%	5.4%	5.0%	4.0%	3.5%	3.3%	4.5%	4.0%	4.3%	3.0%	3.8%	3.7%	2.9%	1.5%	2.0%	1.9%	-0.1%
Dividends Paid	$3.4B	$3.4B	$3.4B	$3.1B	$2.9B	$2.6B	$2.6B	$2.6B	$2.0B	$2.0B	$1.8B	$1.6B	$1.3B	$1.1B	$829M	$674M	$479M	$439M	$383M	$322M	$141M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$6.3B	$4.2B	$3.4B	$796M	$1.9B	$4.6B	$1.9B	($745M)
Capital Expenditures (CapEx)	$691M	$849M	$784M	$698M	$607M	$743M	$768M	$670M
Free Cash Flow (FCF)	$5.7B	$3.4B	$2.6B	$98M	$1.3B	$3.8B	$1.1B	($1.4B)
FCF Margin %	5.3%	3.4%	2.5%	0.1%	1.3%	4.0%	1.1%	-1.5%
Dividends Paid	$878M	$847M	$845M	$846M	$866M	$840M	$838M	$837M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

CVS Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$253.8B	$261.1B	$253.2B	$249.7B	$228.3B	$233.0B	$230.7B	$222.4B	$196.5B	$95.1B	$94.5B	$92.4B	$74.2B	$71.5B	$66.2B	$64.5B	$62.2B	$61.6B	$61.0B	$54.7B	$20.6B
Cash & Cash Equivalents	$11.3B	$8.5B	$8.6B	$8.2B	$12.9B	$9.4B	$7.9B	$5.7B	$4.1B	$1.7B	$3.4B	$2.5B	$2.5B	$4.1B	$1.4B	$1.4B	$1.4B	$1.1B	$1.4B	$1.1B	$531M
Total Liabilities	$173.9B	$185.7B	$177.5B	$173.1B	$156.5B	$157.6B	$161.0B	$158.3B	$137.9B	$57.4B	$57.6B	$55.2B	$36.2B	$33.6B	$28.6B	$26.5B	$24.4B	$25.9B	$26.4B	$23.4B	$10.7B
Total Debt (Short + Long-Term)	$63.3B	$66.3B	$68.0B	$63.4B	$53.9B	$57.8B	$66.3B	$70.1B	$73.4B	$27.0B	$27.5B	$27.5B	$13.0B	$13.4B	$9.8B	$10.0B	$10.1B	$11.2B	$11.8B	$10.5B	$5.1B
Total Shareholders' Equity	$79.7B	$75.2B	$75.6B	$76.5B	$71.5B	$75.1B	$69.4B	$63.9B	$58.2B	$37.7B	$36.8B	$37.2B	$38.0B	$37.9B	$37.7B	$38.1B	$37.7B	$35.8B	$34.6B	$31.3B	$9.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive CVS viewer.

CVS Metric Deep Dives

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