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CVS Health CVS Q1 2025 earnings

Reported May 1, 2025 · Before market open

Revenue$94.6BBeat by $909.3M
EPS$2.25Beat by $0.55
Revenue estimate$93.7B
EPS estimate$1.70

Next report

Nov 4, 2026 (in a month)
Revenue estimate$104.76B
EPS estimate$1.62

Financials

Q1 2025

Income statement

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Revenue$94.6B+7.0%
Gross profit$43.5B+7.8%
Operating income$3.4B+48.6%
Net income$1.8B+59.8%
EPS (diluted)$1.41+60.2%

Balance sheet

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Cash & equivalents$10.3B+2.4%
Total debt$17.8B-12.8%
Total equity$76.9B+4.0%
Total assets$255.59B+2.3%

Cash flow

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Operating cash flow$4.6B-7.1%
CapEx$743.0M+5.4%
Free cash flow$3.8B-9.2%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$85.42B-14.9%
Enterprise value$92.83B-16.1%
P/E16.2×+2.5×
P/S0.2×-0.1×

Profitability

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Gross margin44.8%+4.0pp
Operating margin2.5%-0.9pp
Net margin1.4%-0.6pp

Returns & leverage

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Return on equity7%-3.1pp
Debt / equity0.2×0.0×
Current ratio0.8×0.0×

Segments

By segment

See full
Health Services$43.5B+7.9%
Health Care Benefits$34.8B+8.0%
Pharmacy & Consumer Wellness$31.9B+11.1%
Corporate Other$133.0M—

FAQ

When did CVS Health report Q1 2025 earnings?
CVS Health (CVS) reported Q1 2025 earnings on May 1, 2025 before market open.
What were CVS Health's Q1 2025 revenue and EPS?
CVS Health reported revenue of $94.6B and eps of $2.25 for Q1 2025.
Did CVS Health beat estimates in Q1 2025?
Revenue beat the consensus estimate of $93.7B by $909.3M. EPS beat the consensus estimate of $1.70 by $0.55.
How did CVS Health's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.0% from $88.4B a year earlier and eps grew 71.8% from $1.31.
Where can I find CVS Health's Q1 2025 SEC filings?
You can read the 8-K earnings release (0000064803-25-000012) and the 10-Q periodic report (0000064803-25-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.