CVS Health (CVS): financials, SEC filings and peers
CVS Health (CVS) is a health care services company in the Health Care sector of the S&P 500, headquartered in Woonsocket, Rhode Island.
It was founded in 1996 and joined the S&P 500 on March 4, 1957.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Retail-Drug Stores and Proprietary Stores”.
CVS Health at a glance
- Revenue (12 months)
- $415.1B
- Revenue growth
- +7.4%
- Operating margin
- 2.0%
- Net income (12 months)
- $4.9B
- Free cash flow (12 months)
- $11.8B
- Cash
- $11.3B
- Debt
- $61.4B
- Diluted EPS (12 months)
- $3.80
Twelve months to June 30, 2026, from the 10-Q filed August 5, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, CVS Health reported revenue of $415.1 billion, about the same as a year earlier (+7.4%).
Its operating margin was 2.0%: for every $100 of sales, about $2 was left as operating profit.
Net income was $4.9 billion (1.2% of revenue), 7.9% higher than a year earlier.
Operating cash flow was $14.8 billion and capital spending $3.0 billion, leaving free cash flow of $11.8 billion (2.8% of revenue).
At the end of the period it held $11.3 billion in cash and $61.4 billion in debt, a net debt position of $50.1 billion.
The diluted share count rose 1.3% in a year, which dilutes existing shareholders.
Five-year trend
- Revenue went from $268.7 billion in fiscal 2020 to $402.1 billion in fiscal 2025, about 8.4% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin narrowed from 5.2% to 1.2% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $292.1B | $322.5B | $357.8B | $372.8B | $402.1B |
| Revenue growth | 8.7% | 10.4% | 10.9% | 4.2% | 7.8% |
| Operating margin | 4.6% | 2.5% | 3.8% | 2.3% | 1.2% |
| Net income | $8.0B | $4.3B | $8.3B | $4.6B | $1.8B |
| Free cash flow | $15.7B | $13.4B | $10.4B | $6.3B | $7.8B |
| Diluted EPS | $6.02 | $3.26 | $6.47 | $3.66 | $1.39 |
Fiscal years as reported in CVS Health’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed August 17, 2026 — Executive or director change; Regulation FD disclosure
- 10-Q filed August 5, 2026 — quarterly report
- 8-K filed August 5, 2026 — Earnings results
- 8-K filed May 18, 2026 — Executive or director change; Shareholder vote results
- 10-Q filed May 6, 2026 — quarterly report
- 8-K filed May 6, 2026 — Earnings results
- 8-K filed March 19, 2026 — Executive or director change
- 10-K filed February 10, 2026 — annual report
Companies like CVS Health
Other S&P 500 companies in Health Care Services:
- CICignaBloomfield, Connecticut
- DGXQuest DiagnosticsSecaucus, New Jersey
- DVADaVitaDenver, Colorado
- LHLabcorpBurlington, North Carolina
More from Health Care
Questions about CVS Health
Is CVS Health's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $415.1 billion, up 7.4% from a year earlier, according to its SEC filings.
Is CVS Health profitable?
Yes. It earned $4.9 billion in net income over the twelve months to June 30, 2026, a net margin of 1.2%.
Does CVS Health have more cash or more debt?
At June 30, 2026 it had $11.3 billion in cash and $61.4 billion in debt, so more debt than cash.
When did CVS Health last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on August 5, 2026.
Which companies are similar to CVS Health?
In the S&P 500, CVS Health is grouped in Health Care Services within the Health Care sector. Cigna (CI), Quest Diagnostics (DGX), DaVita (DVA), Labcorp (LH) are in the same group.
Understand the numbers
Source: CVS Health’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.