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CVS Health CVS Health Services — Revenues from external customers

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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 cvs:PremiumsEarnedNetAndRevenueFromContractWithCustomerExcludingAssessedTax.

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
Revenues from external customers$36,999$45,389$23,054$13$105,455
Intersegment revenues316,40710,76217,200
Net investment income (loss)508(1)134641
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

Item 1.Financial Statements

FAQ

What is CVS Health's health services — revenues from external customers?
CVS Health (CVS) reported health services — revenues from external customers of $45.39B in Q2 2026.
How has CVS Health's health services — revenues from external customers changed year-over-year?
CVS Health's health services — revenues from external customers increased by 13.1% year-over-year, from $40.12B to $45.39B.
What is the long-term trend for CVS Health's health services — revenues from external customers?
Over 4 years (2021 to 2025), CVS Health's health services — revenues from external customers has grown at a 3.4% compound annual growth rate (CAGR), from $143.91B to $164.6B.
What does health services — revenues from external customers mean?
This represents the total revenue generated by the business segment from transactions with parties outside of the consolidated corporate entity. It excludes inter-segment sales and provides a clear view of the segment's market-facing performance. This is a primary indicator of the segment's ability to capture market share and generate demand from end-users.

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