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CVS Health CVS Q4 2025 Annual earnings

Reported February 10, 2026 · Before market open

Revenue estimate$103.70B
EPS estimate$1.00

Next report

Jul 30, 2026 (in a month)
Revenue estimate$100.17B
EPS estimate$1.86

Financials

Q4 2025

Income statement

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Revenue$105.69B+8.2%
Gross profit$46.6B+9.9%
Operating income$2.1B-10.8%
Net income$2.9B+79.0%
EPS (diluted)$2.32+77.1%

Balance sheet

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Cash & equivalents$8.7B-1.9%
Total debt$16.7B-80.7%
Total equity$75.2B-0.5%
Total assets$253.54B+0.1%

Cash flow

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Operating cash flow$3.4B+82.3%
CapEx$784.0M+2.1%
Free cash flow$2.6B+139%

Valuation & ratios

Q4 2025

Valuation

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Market cap$100.74B+78.3%
Enterprise value$108.74B-18.9%
P/E57×+44.7×
P/S0.3×+0.1×

Profitability

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Gross margin45%+0.3pp
Operating margin1.2%-1.1pp
Net margin0.4%-0.8pp

Returns & leverage

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Return on equity2.3%-3.7pp
Debt / equity0.2×-0.9×
Current ratio0.8×0.0×

Segments

By segment

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Health Services$51.2B+9.0%
Pharmacy & Consumer Wellness$37.7B+12.4%
Health Care Benefits$36.3B+10.1%

Versus estimates

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Questions, answered.

When did CVS Health report Q4 2025 earnings?
CVS Health (CVS) reported Q4 2025 earnings on February 10, 2026 before market open.
What were CVS Health's Q4 2025 revenue and EPS?
CVS Health reported revenue of $105.69B and diluted EPS of $1.09 for Q4 2025.
Did CVS Health beat estimates in Q4 2025?
Revenue beat the consensus estimate of $103.70B by $2.0B. EPS beat the consensus estimate of $1.00 by $0.09.
How did CVS Health's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.2% from $97.7B a year earlier and diluted EPS declined 8.4% from $1.19.
Where can I find CVS Health's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000064803-26-000009) and the 10-K periodic report (0000064803-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.