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CVS Health CVS Q3 2025 earnings

Reported October 29, 2025 · Before market open

Revenue$102.87BBeat by $4.1B
EPS$1.60Beat by $0.23
Revenue estimate$98.8B
EPS estimate$1.37

Next report

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

Financials

Q3 2025

Income statement

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Revenue$102.87B+7.8%
Gross profit$45.8B+7.9%
Operating income-$3.2B-485%
Net income-$4.0B-4,669%
EPS (diluted)-$3.13-4,571%

Balance sheet

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Cash & equivalents$9.4B+31.0%
Total debt$84.4B-0.6%
Total equity$72.9B-2.7%
Total assets$255.33B+1.1%

Cash flow

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Operating cash flow$796.0M—
CapEx$698.0M+4.2%
Free cash flow$98.0M—

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$95.62B+20.9%
Enterprise value$170.62B+8.8%
P/E203.9×+188×
P/S0.2×0.0×

Profitability

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Gross margin44.8%+1.3pp
Operating margin1.2%-1.3pp
Net margin0.1%-1.2pp
FCF margin1.6%—

Returns & leverage

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Return on equity0.6%-6.1pp
Debt / equity1.2×0.0×
Current ratio0.8×0.0×

Segments

By segment

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Health Services$49.3B+11.6%
Pharmacy & Consumer Wellness$36.2B+11.7%
Health Care Benefits$36.0B+9.1%

FAQ

When did CVS Health report Q3 2025 earnings?
CVS Health (CVS) reported Q3 2025 earnings on October 29, 2025 before market open.
What were CVS Health's Q3 2025 revenue and EPS?
CVS Health reported revenue of $102.87B and eps of $1.60 for Q3 2025.
Did CVS Health beat estimates in Q3 2025?
Revenue beat the consensus estimate of $98.8B by $4.1B. EPS beat the consensus estimate of $1.37 by $0.23.
How did CVS Health's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.8% from $95.4B a year earlier and eps grew 46.8% from $1.09.
Where can I find CVS Health's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000064803-25-000036) and the 10-Q periodic report (0000064803-25-000037) directly on SEC EDGAR. The filing index links above go to sec.gov.