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CVSCVS Health Corporation
$104.33$133.1B
Overview & Verdict
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CVS logoCVS Health Corporation(CVS)Earnings, Financials & Key Ratios

CVS•NYSE
$104.33
75.1× P/E·Price updated Jul 7, 2026
SectorHealthcareIndustryHealth InsuranceSub-IndustryVertically Integrated Payer-PBM Platforms
AboutCVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. Its Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals. This segment operates retail specialty pharmacy stores; and specialty mail-order, mail-order dispensing, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company's Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. As of December 31, 2021, it operated approximately 9,900 retail locations and 1,200 MinuteClinic locations, as well as online retail pharmacy websites, LTC pharmacies, and onsite pharmacies. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.Show more
  • Revenue$402.07B+7.8%
  • EBITDA$14.99B+14.3%
  • Net Income$1.77B-61.7%
  • EPS (Diluted)1.39-62.0%
  • Gross Margin13.77%-0.1%
  • EBITDA Margin3.73%+6.0%
  • Operating Margin2.58%+13.1%
  • Net Margin0.44%-64.5%
  • ROE2.34%-61.4%

CVS Price & Volume

CVS Health Corporation (CVS) stock price & volume — 10-year historical chart

Loading chart...

Vertical Integration Strains Margins Amidst Volatility

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Stable
Profitability:Strained
Financial:Strained
Cash Flow:Mixed
Primary Risk:Medicare Advantage utilization volatility

Key Thesis Takeaways

  • CVS Health faces a complex transition as it attempts to leverage its $85.5B goodwill-heavy asset base to drive growth in a volatile healthcare environment.
  • While top-line revenue reached $100.4B in 2026Q1, the firm's reliance on debt-financed acquisitions has resulted in a 1.01 debt-to-equity ratio and significant earnings instability.
  • Investors should monitor whether the company can stabilize its medical benefit ratios and improve cash conversion to support its $847M quarterly dividend commitment.

Verdict Logic

while the forward P/E of 14.06 suggests potential value, the high goodwill balance of $85.5B and volatile earnings history warrant a cautious approach.

CVS Growth Metrics

CVS Health Corporation (CVS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.12%
5 Years8.39%
3 Years7.63%
TTM7.64%

Profit CAGR

10 Years-10.29%
5 Years-24.44%
3 Years-25.7%
TTM-44.47%

EPS CAGR

10 Years-11.34%
5 Years-23.94%
3 Years-24.73%
TTM-45.81%

Return on Capital

10 Years8.12%
5 Years6.47%
3 Years6.49%
Last Year6.09%

CVS Recent Earnings

CVS Health Corporation (CVS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 6, 2026
Metric
Actual
Est
EPS
$2.57+17.9%
$2.18
Rev
$100.4B+5.7%
$95.0B
Q1 2026
Feb 10, 2026
Metric
Actual
Est
EPS
$1.09+9.0%
$1.00
Rev
$105.7B+1.9%
$103.7B
Q4 2025
Oct 29, 2025
Metric
Actual
Est
EPS
$1.60+16.8%
$1.37
Rev
$102.9B+4.1%
$98.8B
Q3 2025
Jul 31, 2025
Metric
Actual
Est
EPS
$1.81+24.0%
$1.46
Rev
$98.9B+4.6%
$94.5B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 6, 2026
$2.57vs $2.18+17.9%
$100.4Bvs $95.0B+5.7%
Q1 2026Feb 10, 2026
$1.09vs $1.00+9.0%
$105.7Bvs $103.7B+1.9%
Q4 2025Oct 29, 2025
$1.60vs $1.37+16.8%
$102.9Bvs $98.8B+4.1%
Q3 2025Jul 31, 2025
$1.81vs $1.46+24.0%
$98.9Bvs $94.5B+4.6%
Based on last 12 quarters of dataView full earnings history →

Latest CVS News

Recent stock market news and headlines for CVS Health Corporation (CVS)

247 Wallst·17h ago
Up 14.81% in a Year, COWZ Proves You Don’t Need Apple

The Pacer US Cash Cows 100 ETF (CBOE: COWZ) is having a solid 2026, up 6.4% year to date and 14.81% over the past year through July 6. Yet a fund built expressly to own America's biggest cash machines holds zero shares of Apple, arguably the most famous cash generator on the planet. That contradiction is... Up 14.81% in a Year, COWZ Proves You Don't Need Apple

Zacks Investment Research·1 day ago
Are You Looking for a Top Momentum Pick? Why CVS Health (CVS) is a Great Choice

Does CVS Health (CVS) have what it takes to be a top stock pick for momentum investors? Let's find out.

PRNewsWire·1 day ago
CVS Health to hold second quarter 2026 earnings conference call

WOONSOCKET, R.I., July 6, 2026 /PRNewswire/ -- CVS Health® (NYSE: CVS) will hold a conference call with analysts and investors on Wednesday, August 5, 2026, at 8:00 a.m.

Seeking Alpha·1 day ago
CVS Health: The Surprising Healthcare Outlier

CVS Health Corporation has outperformed peers, overcoming industry headwinds through effective management and strategic execution. CVS delivered a Q1 beat-and-raise, expects margin expansion in 2026, and projects low-double-digit investor returns. While Health Services and Insurance segments anticipate mid-single-digit growth, retail is set for gradual decline but with margin improvements.

The Motley Fool·2 days ago
CVS Health vs. UnitedHealth: Comparing Revenue Trends for These Healthcare Companies

UnitedHealth generates higher overall revenue, though CVS Health has occasionally narrowed the gap between the two companies. Both companies experienced steady quarter-over-quarter revenue expansion through late 2025 before posting slight sequential declines in early 2026.

Peers Comparison

Key metrics vs top competitors for CVS Health Corporation (CVS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CVS logoCVSCVS Health CorporationCurrent
$104.33$133.12B75.067.85%0.44%2.34%2.56%
UNH logoUNHUnitedHealth Group Incorporated
$428.19$388.86B32.3711.81%2.68%11.54%—
CI logoCICigna Corporation
$286.62$75.57B12.9311.26%2.26%15.08%—
ELV logoELVElevance Health Inc.
$418.85$90.96B16.6712.62%2.62%11.92%—
HUM logoHUMHumana Inc.
$394.62$47.38B40.1010.06%0.82%6.17%—
MCK logoMCKMcKesson Corporation
$807.33$97.04B21.0412.36%1.18%——

Compare CVS vs Peers

CVS Health Corporation (CVS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UNH

Most directly comparable listed peer for CVS.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare CVS against a more recognizable public peer.

Peer Set

Compare Top 5

vs UNH, CI, ELV, HUM

CVS SEC Filings & Documents

CVS Health Corporation (CVS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 6, 2026·SEC

Material company update

Mar 19, 2026·SEC

Material company update

Feb 10, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 12, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 31, 2025·SEC

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CVS Frequently Asked Questions

CVS Health Corporation (CVS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is CVS Health Corporation's revenue?

CVS Health Corporation (CVS) reported $407.90B in revenue for fiscal year 2025. This represents a 3348% increase from $11.83B in 1996.

How fast is CVS Health Corporation growing?

CVS Health Corporation (CVS) grew revenue by 7.8% over the past year. This is steady growth.

Is CVS profitable?

Yes, CVS Health Corporation (CVS) is profitable, generating $2.93B in net income for fiscal year 2025 (0.4% net margin).

Dividend & Returns
Does CVS pay dividends?

Yes, CVS Health Corporation (CVS) pays a dividend with a yield of 2.56%. This makes it attractive for income-focused investors.

What is CVS's return on equity?

CVS Health Corporation (CVS) has a return on equity (ROE) of 2.3%. This is below average, suggesting room for improvement.

What is CVS Health Corporation's free cash flow?

CVS Health Corporation (CVS) generated $7.39B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CVS back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →