What is CVS Health's deferred taxes?

CVS Health (CVS) reported deferred taxes of $25.5M in Q4 2025.

How has CVS Health's deferred taxes changed year-over-year?

CVS Health's deferred taxes increased by 117.8% year-over-year, from -$143M to $25.5M.

What is the long-term trend for CVS Health's deferred taxes?

Over 4 years (2021 to 2025), CVS Health's deferred taxes has grown at a -29.0% compound annual growth rate (CAGR), from -$402M to $102M.

What does deferred taxes mean?

Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.

CVS Health CVS Deferred Taxes

Deferred Taxes at other companies

Dollar GeneralDG

-$50.55M-758%

UnitedHealth GroupUNH

$540M+744%

AmazonAMZN

$12.8B+2,424%

CenteneCNC

-$53M-96.3%

Astrana HealthASTH

$1.91M+633%

Elevance HealthELV

-$274M-57.5%

Other financials

Income statement

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Revenue$100.43B+6.2%

Gross profit$45.0B+3.3%

Operating income$4.7B+38.7%

Net income$2.9B+65.4%

EPS (diluted)$2.30+63.1%

Balance sheet

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Cash & equivalents$9.8B-5.6%

Total debt$15.2B-14.2%

Total equity$77.5B+0.7%

Total assets$252.97B-1.0%

Cash flow

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Operating cash flow$4.2B-6.7%

CapEx$849.0M+14.3%

Free cash flow$3.4B-10.8%

Valuation

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Market cap$131.99B+55.0%

Enterprise value$137.46B+48.8%

P/E45×+26.2×

P/S0.3×+0.1×

Profitability

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Gross margin44.7%-0.1pp

Operating margin1.5%-1.1pp

Net margin0.7%-0.7pp

FCF margin1.8%—

Returns & leverage

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Return on equity3.8%-3.2pp

Debt / equity0.2×0.0×

Current ratio0.9×0.0×

Where this comes from

Reported directly by CVS Health in its filing.

Tagged under the XBRL concept us-gaap:DeferredIncomeTaxesAndTaxCredits.

The official record: CVS Health’s 10-K, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CVS Health's deferred taxes?: CVS Health (CVS) reported deferred taxes of $25.5M in Q4 2025.
How has CVS Health's deferred taxes changed year-over-year?: CVS Health's deferred taxes increased by 117.8% year-over-year, from -$143M to $25.5M.
What is the long-term trend for CVS Health's deferred taxes?: Over 4 years (2021 to 2025), CVS Health's deferred taxes has grown at a -29.0% compound annual growth rate (CAGR), from -$402M to $102M.
What does deferred taxes mean?: Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.