Income StatementBalance SheetCash FlowSegments
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CVS Health Income Statement

Revenue, expenses, and profitability over time

CVS Health generated $407.91B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $2.9B with a 0.72% net margin. Gross margin stands at 44.7% and operating margin at 1.46%. Diluted EPS is $2.28, which declined 0.5% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$407.91BGross Profit (TTM)$182.35BOperating Income (TTM)$6.0BNet Income (TTM)$2.9BEps Diluted (TTM)$2.29
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$118.99B
P/E Ratio40.58
ROE3.8%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M
Share-Based Compensation Expense$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M
Depreciation and amortization$1.1B$1.2B$1.2B$1.1B$1.1B$1.1B
Other Costs and Expenses$10.5B$11.0B$11.2B$11.3B$11.5B$10.9B
Other operating charges$10.5B$11.0B$11.2B$11.3B$11.5B$10.9B
Stock-based compensation expense$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M
Share-Based Compensation$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M
Total operating expenses$95.3B$91.2B$96.5B$106.1B$103.6B$95.7B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Expenditures$768.0M$743.0M$607.0M$698.0M$784.0M$849.0M
Change in Accounts Receivable$315.0M$3.1B$1.1B$3.4B—$1.2B
Change in Other Liabilities-$479.0M$1.9B—$1.1B—-$196.0M
Tax Withholding for Share-Based Payments$4.0M$11.0M$114.0M$20.0M$13.0M$9.0M
Income Taxes Paid, Net$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Interest Paid, Net$518.0M$1.0B$472.0M$1.0B$462.0M$1.1B
Gain on sale of business and assets$0.0-$236.0M———$0.0
Income Taxes Paid, Net$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Accounts payable$166.0M$2.6B$1.2B$1.2B—-$562.0M
Increase (Decrease) in Accounts Receivable$315.0M$3.1B$1.1B$3.4B—$1.2B
Increase Decrease In Insurance Liabilities—$364.0M-$398.0M$768.0M—$10.0M
Increase (Decrease) in Inventories$457.0M-$722.0M$51.0M$1.7B$285.0M-$1.5B
Increase (Decrease) in Other Operating Assets—$1.1B——$2.0B-$479.0M
Other liabilities-$479.0M$1.9B—$1.1B—-$196.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity$518.0M$1.0B$472.0M$1.0B$462.0M$1.1B
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$2.3B—-$1.4B-$2.0B-$2.3B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$547.0M-$762.0M-$1.0B-$2.1B-$2.0B-$874.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.9B$4.6B$1.9B$796.0M$3.4B$4.2B
Net Investment Income$755.0M$520.0M$487.0M$632.0M$594.0M$574.0M
Other income, net (Note 6)$25.0M$28.0M$29.0M$26.0M$29.0M$32.0M
Payment for (Proceeds from) Other Investing Activity-$26.0M-$19.0M-$4.0M—-$17.0M-$7.0M
Payments of Dividends$838.0M$840.0M$866.0M$846.0M$845.0M$847.0M
Payment, Tax Withholding, Share-Based Payment Arrangement$4.0M$11.0M$114.0M$20.0M$13.0M$9.0M
Payments to Acquire Businesses, Net of Cash Acquired$10.0M$20.0M$119.0M$290.0M$7.0M$5.0M
Payments to Acquire Investments$2.5B$3.6B$3.6B$3.9B$4.0B$4.2B
Payments to Acquire Property, Plant, and Equipment$768.0M$743.0M$607.0M$698.0M$784.0M$849.0M
Payments To Suppliers And Employees$9.9B$8.7B$9.9B$8.7B$10.3B$10.8B
Contractual payments received$93.5B$90.8B$95.7B$96.9B$105.8B$94.2B
Proceeds From Interest And Dividends Received$447.0M$497.0M$475.0M$522.0M$475.0M$526.0M
Financing — other$48.0M-$23.0M-$22.0M$38.0M$7.0M-$47.0M
Cash received from option exercises$19.0M$144.0M$47.0M$117.0M$86.0M$103.0M
Repayments of Long-Term Debt$3.1B$743.0M$19.0M$2.8B$20.0M$1.5B
Stock-based compensation$137.0M$126.0M$136.0M$138.0M$135.0M$266.0M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Income Taxes$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Income Taxes Paid, Net$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Income tax expense$503.0M$835.0M$634.0M$508.0M—$981.0M
Income Taxes Paid, Net$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M
Income and Other Taxes$274.0M$138.0M$725.0M$305.0M$998.0M-$337.0M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest$518.0M$1.0B$472.0M$1.0B$462.0M$1.1B
Gain on Sale of Business$0.0-$236.0M———$0.0
Other Charges$25.0M$28.0M$29.0M$26.0M$29.0M$32.0M
Interest expense$758.0M$785.0M$763.0M$784.0M$787.0M$774.0M
Change in Accounts Payable$166.0M$2.6B$1.2B$1.2B—-$562.0M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$1.31$1.41$0.81$-3.13$2.33$2.31
Diluted earnings per share$1.31$1.41$0.80$-3.13$2.32$2.30
Weighted-average shares, basic1M1.3B1.3B1.3B1M1.3B
Weighted-average shares, diluted—1.3B1.3B1.3B5M1.3B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.1B$2.6B$1.6B-$3.5B$1.4B$3.9B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$1.6B$1.8B$1.0B-$4.0B$2.9B$2.9B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$30.9B$32.8B$34.2B$33.7B$34.0B$33.8B
Net investment income$755.0M$520.0M$487.0M$632.0M$594.0M$574.0M
Total revenue$97.7B$94.6B$98.9B$102.9B$105.7B$100.4B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$2.4B$3.4B$2.4B-$3.2B$2.1B$4.7B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$55.3B$51.1B$54.0B$57.0B$59.1B$55.4B
Medical costs$29.5B$29.1B$31.3B$32.0B$33.1B$29.4B