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NYSE · RETAIL-DRUG STORES AND PROPRIETARY STORES · LARGE CAP

CVS Health Corp. CVS

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$402.1B
▲ 7.8% YoY
$1.8B
▼ 61.7% YoY
$7.8B
▲ 23.4% YoY
In brief

What this company does

CVS Health Corporation serves more than 37 million people through traditional, voluntary and consumer-directed health insurance products and related services, including Medicare Advantage offerings and a standalone Medicare Part D prescription drug plan. As of December 31, 2025, the Company had approximately 9,000 retail locations, more than 1,000 walk-in and primary care medical clinics and a pharmacy benefits manager with approximately 87 million plan members. On that date it employed over 300,000 colleagues, primarily in the U.S. and including in all 50 states, the District of Columbia and Puerto Rico, approximately 73% of whom were full-time. The Company has four reportable segments: Health Care Benefits, Health Services, Pharmacy & Consumer Wellness and Corporate/Other. The Health Care Benefits segment operates as a diversified health care benefits provider through its Aetna operations. The Health Services segment provides pharmacy benefit management solutions through its CVS Caremark operations and delivers health care services in its medical clinics, virtually, and in the home. The Pharmacy & Consumer Wellness segment dispenses prescriptions in its CVS Pharmacy retail locations and through its infusion operations, provides ancillary pharmacy services including pharmacy patient care programs and vaccination administration, and sells health and wellness products and general merchandise. CVS Health Corporation was incorporated in Delaware in 1996, and its corporate office is located in Woonsocket, Rhode Island.

Written from the business description in CVS HEALTH Corp's annual report to the U.S. Securities and Exchange Commission, filed 10 February 2026. Every sentence was checked against that document before publication.

Growth
USD 402.1B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 402.1 · Net income 1.8
200B400B2007201020132016201920222025
Compound annual growth
+7.6%
+8.4%
+10.1%
+10.0%
−25.7%
−24.4%
−10.3%
−24.7%
−23.9%
−11.3%
−3.8%
+6.5%
+5.9%
+6.6%
+14.5%
−16.6%
+5.3%
−5.9%
+4.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.4% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
0 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 1.2% · Net 0.4%
2%4%6%2007201020132016201920222025
ROE
FY2025 · ROE 2.3%
5%10%15%2007201020132016201920222025

Each USD of equity produced 2 cents of profit this year.

Cash & shareholders
USD 3.4B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 7.8
8B2007201020132016201920222025
Net buybacks $B Dividends $B
FY2025 · Dividends 3.4 · Net buybacks -0.4
2.5B5.0BDividendsNet buybacks2007201020132016201920222025

USD 3.4B in dividends — 192% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 253.5B
EquityUSD 75.2B
CashUSD 8.5B
Gross debtUSD 60.5B
Net debtUSD 52.0B
Current ratio0.84×

Net debt stands at 69% of equity.

The 19-year record
19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B402.1372.8357.8322.5292.1268.7256.8194.6184.8177.5153.3139.4126.8123.1107.195.898.287.576.3
Operating income $B4.78.513.78.013.313.912.04.09.510.49.58.88.07.26.36.16.46.04.8
EBITDA $B9.313.118.112.217.818.416.46.712.012.911.610.29.48.57.47.1···
Income tax $B0.41.62.81.52.52.62.42.01.63.33.43.02.92.42.32.22.22.21.7
Net income $B1.84.68.34.38.07.26.6−0.66.65.35.24.64.63.93.53.43.73.22.6
Free cash flow $B7.86.310.413.415.713.410.46.86.17.96.26.03.84.64.02.81.51.81.4
EPS, diluted $1.393.666.473.266.025.465.08−0.576.444.904.633.963.743.022.57·2.552.181.92
Dividend / sh $2.662.662.422.202.002.002.002.002.001.701.401.100.900.650.50·0.300.260.23
Payout %192733867333739−3433135302824211914121212
ROE %2.36.111.35.911.110.810.9−1.217.814.413.912.212.110.39.29.310.59.78.4
Shares out B1.271.261.291.301.321.311.301.291.011.061.101.141.181.231.301.361.391.44·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 85 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 2 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRetail-Drug Stores and Proprietary Stores
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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