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NYSE · Healthcare

CVS HEALTH Corp (CVS)

As-reported financials and SEC filings for CVS HEALTH Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About CVS HEALTH Corp

CVS Health Corporation operates as a health solutions company with approximately 9,000 retail locations, over 1,000 medical clinics, and a pharmacy benefits manager serving about 87 million plan members. It provides health insurance products and related services to more than 37 million people, including traditional, voluntary, and consumer-directed plans, Medicare Advantage, Medicare Part D prescription drug plans, and Medicaid management services. The company serves individuals, employer groups, and government-sponsored plans through its four segments: Health Care Benefits, Health Services, Pharmacy & Consumer Wellness, and Corporate/Other.

Snapshot

Revenue
$402.07B
Revenue growth (YoY)
7.8%
Net income
$1.77B
Diluted EPS
$1.39
Gross margin
Operating margin
1.2%
Net margin
0.4%
FCF margin
1.9%
ROE
2.3%
net income / fiscal-year-end equity
P/E
25.2×
trailing when available, otherwise FY EPS
Market cap
$121.87B
Long-term debt / equity
0.80×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at CVS HEALTH

  • Revenue grew 7.8% to $402.1B in FY2025, faster than the 4.2% the year before.
  • Operating margin is 1.2% in FY2025, -3.4 pp against 4.6% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $106.1B, up 7.3% from Q2 FY2025.
  • Free cash flow was $7.8B in FY2025, 1.9% of revenue.
  • Net income fell 61.7% to $1.8B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where CVS HEALTH’s fundamentals sit among the 558 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin1.2%
51st percentile of 399
Net margin0.4%
53rd percentile of 418
FCF margin1.9%
45th percentile of 373
Revenue growth (YoY)+7.8%
45th percentile of 538
ROE2.3%
64th percentile of 473
P/E25.2×
53rd percentile of 201
Long-term debt / equity0.80×
71st percentile of 243
Short interest2.81d
23rd percentile of 557

No reported insider transactions (codes P/S) in the last 90 days. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
5
+6 quant / multi-strat
Initiated / added
6
2 new, 4 added
Reduced / exited
6
5 trimmed, 1 exited
Combined position
$7.04B
reported long value
InvestorAs ofPosition valueSharesChange
Dodge & CoxQ2 2026$5.17B50.0MReduced
Citadel AdvisorsquantQ2 2026$497.9M4.8MReduced
Viking Global InvestorsQ2 2026$379.0M3.7MNew
AQR Capital ManagementquantQ2 2026$248.9M2.4MAdded
Millennium ManagementquantQ2 2026$224.0M2.2MAdded
Point72 Asset ManagementquantQ2 2026$202.9M2.0MNew
D. E. ShawquantQ2 2026$143.0M1.4MReduced
Gotham Asset ManagementQ2 2026$48.1M464.9KAdded
Renaissance TechnologiesquantQ2 2026$45.6M441.0KAdded
Bridgewater AssociatesQ2 2026$45.6M441.0KReduced
Harris Associates (Oakmark)Q2 2026$34.7M335.8KReduced

No longer held by: Maverick Capital (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-05-21
ROBBINS LARRYDirectorSell370.5K$93.45$34.6M
2026-05-20
filed 2026-05-21
ROBBINS LARRYDirectorSell797.6K$93.48$74.6M
2026-05-20
filed 2026-05-21
ROBBINS LARRYDirectorSell152.7K$94.81$14.5M
2026-05-20
filed 2026-05-21
ROBBINS LARRYDirectorSell66.9K$95.67$6.4M
2026-05-20
filed 2026-05-21
ROBBINS LARRYDirectorSell800$96.28$77K
2026-05-19
filed 2026-05-21
ROBBINS LARRYDirectorSell2.0M$94.45$187.3M
2026-05-19
filed 2026-05-21
ROBBINS LARRYDirectorSell151$95.18$14K
2026-05-08
filed 2026-05-11
Mandadi TilakEVP, Chief Exp & Tech OfficerSell69.6K$89.58$6.2M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
18.1M
settled 2026-08-31
Change vs prior
+7.7%
vs previous settlement
Days to cover
2.81
at avg daily volume
Avg daily volume
6.5M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-3118.1M+7.7%2.81
2026-08-1416.8M-9.9%1.80
2026-07-3118.7M-4.3%2.41
2026-07-1519.5M-2.1%2.72
2026-06-3019.9M-14.0%2.31
2026-06-1523.2M+30.6%2.71
2026-05-2917.8M-9.0%2.39
2026-05-1519.5M+9.6%1.97

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$402.07B$372.81B$357.78B$322.47B$292.11B
Gross profit
Operating income$4.66B$8.52B$13.74B$7.95B$13.31B
Net income$1.77B$4.61B$8.34B$4.31B$8.00B
Diluted EPS$1.39$3.66$6.47$3.26$6.02

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$10.64B$9.11B$13.43B$16.18B$18.27B
Capital expenditure$2.83B$2.78B$3.03B$2.73B$2.52B
Free cash flow$7.81B$6.33B$10.39B$13.45B$15.74B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$106.10B7.3%$2.98B$2.31
Q1 FY2026$100.43B6.2%$2.94B$2.30
Q4 FY2025$105.69B8.2%$2.94B$2.29
Q3 FY2025$102.87B7.8%$-3.98B$-3.13
Q2 FY2025$98.92B8.4%$1.02B$0.80
Q1 FY2025$94.59B7.0%$1.78B$1.41
Q4 FY2024$97.71B4.2%$1.64B$1.30
Q3 FY2024$95.43B6.3%$87.0M$0.07

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorHealthcare
SIC industryRetail-Drug Stores and Proprietary Stores
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK64803

Selected SEC filings

10-K2026-02-10
View on EDGAR →
10-K2025-02-12
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
10-Q2025-10-29
View on EDGAR →
10-Q2025-07-31
View on EDGAR →
8-K2026-08-17
View on EDGAR →
8-K2026-08-05
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

CVS head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.