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CVS Health CVS Health Care Benefits — Less: Net realized capital gains (losses)

Other segment segments

Corporate/ Other
-$15M-7.1%
Health Services
$0
Pharmacy & Consumer Wellness
$0

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Other financials

Income statement

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Revenue$106.10B+7.3%
Gross profit$47.2B+5.2%
Operating income$4.7B+97.5%
Net income$3.0B+192%
EPS (diluted)$2.31+189%

Balance sheet

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Cash & equivalents$11.5B-4.1%
Total debt$74.3B+286%
Total equity$79.7B+3.0%
Total assets$253.77B-1.8%

Cash flow

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Operating cash flow$6.3B+234%
CapEx$691.0M+13.8%
Free cash flow$5.7B+338%

Valuation

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Market cap$126.47B+57.0%
Enterprise value$189.28B+116%
P/E25.9×+8.1×
P/S0.3×+0.1×

Profitability

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Gross margin44.5%-0.3pp
Operating margin2%-0.3pp
Net margin1.2%0.0pp
FCF margin2.8%

Returns & leverage

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Return on equity6.2%+0.3pp
Debt / equity0.9×+0.7×
Current ratio0.9×+0.1×

Where this comes from

Reported directly by CVS Health in its filing.

Tagged under the XBRL concept us-gaap:RealizedInvestmentGainsLosses.

The source filing: CVS Health’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 6:33 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000064803-26-000098
In millionsHealth Care BenefitsHealth Services (1)Pharmacy &Consumer WellnessCorporate/OtherConsolidated Totals
Total revenues37,53851,79533,816147123,296
Intersegment eliminations (2)(17,200)
Total consolidated revenues$106,096
Less: Net realized capital gains (losses)2(15)
Cost of products sold47,90827,282
Health care costs30,6921,35044
Operating expenses, excluding other segment items (3)4,4188045,059595
Adjusted operating income (loss)$2,426$1,733$1,475$(477)$5,157

Item 1.Financial Statements

FAQ

What is CVS Health's health care benefits — less: net realized capital gains (losses)?
CVS Health (CVS) reported health care benefits — less: net realized capital gains (losses) of $2M in Q2 2026.
How has CVS Health's health care benefits — less: net realized capital gains (losses) changed year-over-year?
CVS Health's health care benefits — less: net realized capital gains (losses) increased by 115.4% year-over-year, from -$13M to $2M.
What is the long-term trend for CVS Health's health care benefits — less: net realized capital gains (losses)?
Over 3 years (2022 to 2025), CVS Health's health care benefits — less: net realized capital gains (losses) has grown at a -61.3% compound annual growth rate (CAGR), from -$225M to $13M.
What does health care benefits — less: net realized capital gains (losses) mean?
The net profit or loss realized from the sale of investment assets held by the insurance segment. This adjusts operating income to remove the volatility of market-driven investment exits.

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