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CVS Health CVS Q2 2025 earnings

Reported July 31, 2025 · Before market open

Revenue$98.9BBeat by $4.4B
EPS$1.81Beat by $0.35
Revenue estimate$94.5B
EPS estimate$1.46

Next report

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

Financials

Q2 2025

Income statement

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Revenue$98.9B+8.4%
Gross profit$44.9B+8.9%
Operating income$2.4B-21.8%
Net income$1.0B-42.3%
EPS (diluted)$0.80-43.3%

Balance sheet

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Cash & equivalents$12.0B-6.2%
Total debt$19.3B-77.4%
Total equity$77.4B+3.3%
Total assets$258.34B+2.3%

Cash flow

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Operating cash flow$1.9B-38.6%
CapEx$607.0M-4.9%
Free cash flow$1.3B-47.4%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$85.49B+15.3%
Enterprise value$92.74B-36.7%
P/E18.9×+8.6×
P/S0.2×0.0×

Profitability

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Gross margin44.8%+2.7pp
Operating margin2.3%-1.1pp
Net margin1.2%-0.8pp

Returns & leverage

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Return on equity5.9%-3.8pp
Debt / equity0.2×-0.9×
Current ratio0.8×-0.1×

Segments

By segment

See full
Health Services$46.5B+10.2%
Health Care Benefits$36.3B+11.6%
Pharmacy & Consumer Wellness$33.6B+12.5%
Corporate Other$96.0M—

FAQ

When did CVS Health report Q2 2025 earnings?
CVS Health (CVS) reported Q2 2025 earnings on July 31, 2025 before market open.
What were CVS Health's Q2 2025 revenue and EPS?
CVS Health reported revenue of $98.9B and eps of $1.81 for Q2 2025.
Did CVS Health beat estimates in Q2 2025?
Revenue beat the consensus estimate of $94.5B by $4.4B. EPS beat the consensus estimate of $1.46 by $0.35.
How did CVS Health's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.4% from $91.2B a year earlier and eps declined 1.1% from $1.83.
Where can I find CVS Health's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000064803-25-000023) and the 10-Q periodic report (0000064803-25-000024) directly on SEC EDGAR. The filing index links above go to sec.gov.