CVS Health CVS Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Corporate Other | $477M-1.4% | $484M+8.8% | $445M-2.0% | $454M-3.2% | $469M+4.0% | |
| Health Care Benefits | $144.52B+0.8% | $143.35B+2.4% | $140.02B+2.2% | $137.02B+2.8% | $133.24B+2.0% | |
| Health Services | $195.2B+2.5% | $190.43B+2.3% | $186.2B+2.8% | $181.06B+2.4% | $176.78B+1.8% | |
| Pharmacy & Consumer Wellness | $139.44B+0.1% | $139.37B+3.1% | $135.22B+2.9% | $131.43B+2.9% | $127.69B+2.6% | |
| Revenues from external customers by Business | ||||||
| Corporate/ Other | $53M0.0% | $53M0.0% | $53M-1.9% | $54M-3.6% | $56M0.0% | |
| Health Care Benefits | $142.53B+0.8% | $141.45B+2.3% | $138.21B+2.1% | $135.33B+2.8% | $131.66B+2.0% | |
| Health Services | $169.12B+2.7% | $164.6B+1.2% | $162.63B+1.0% | $161.07B+0.9% | $159.65B+1.0% | |
| Pharmacy & Consumer Wellness | $93.92B+0.2% | $93.72B+3.2% | $90.8B+3.3% | $87.87B+2.9% | $85.38B+2.3% | |
| Cost of products sold by Business | ||||||
| Corporate/ Other | $0— | $0— | $0— | $0— | $0— | |
| Health Care Benefits | $0— | $0— | $0— | $0— | $0— | |
| Health Services | $180.24B+2.6% | $175.63B+2.2% | $171.78B+2.9% | $166.93B+2.7% | $162.62B+1.6% | |
| Pharmacy & Consumer Wellness | $113.57B0.0% | $113.58B+3.5% | $109.72B+3.4% | $106.1B+3.6% | $102.38B+3.1% | |
| Less: Net realized capital gains (losses) by Business | ||||||
| Corporate/ Other | -$84M-2.4% | -$82M+41.8% | -$141M-83.1% | -$77M+6.1% | -$82M-9.3% | |
| Health Care Benefits | $35M+169% | $13M+181% | -$16M+68.0% | -$50M+53.7% | -$108M-11.3% | |
| Health Services | $10M-60.0% | $25M-91.8% | $304M0.0% | $304M0.0% | $304M+5.2% | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0— | $0— | $0— | |
| Adjusted operating income (loss) by Business | ||||||
| Corporate Other | -$1.93B-14.6% | -$1.69B-14.1% | -$1.48B-3.8% | -$1.42B-4.5% | -$1.36B-1.1% | |
| Health Services | $7.04B-1.6% | $7.15B+2.3% | $6.99B-2.2% | $7.14B-4.5% | $7.48B+3.3% | |
| Pharmacy & Consumer Wellness | $5.92B-1.9% | $6.04B+2.6% | $5.89B-2.0% | $6.01B+1.6% | $5.91B+2.4% | |
| Net investment income by Business | ||||||
| Corporate Other | $424M-1.6% | $431M+9.9% | $392M-2.0% | $400M-3.1% | $413M+4.6% | |
| Health Care Benefits | $1.86B+4.2% | $1.78B+4.6% | $1.7B+5.6% | $1.61B+7.1% | $1.51B+2.3% | |
| Health Services | $6M-70.0% | $20M-93.3% | $298M0.0% | $298M-0.3% | $299M+4.9% | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0— | $0— | $0— | |
| Health care costs by Business | ||||||
| Corporate/ Other | $177M0.0% | $177M-0.6% | $178M-1.1% | $180M-3.2% | $186M-0.5% | |
| Health Care Benefits | $122.89B0.0% | $122.95B+2.5% | $120B+1.6% | $118.12B+2.9% | $114.84B+1.0% | |
| Health Services | $5.09B+5.3% | $4.83B+9.4% | $4.42B+8.7% | $4.06B+8.3% | $3.75B+10.2% | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Corporate/ Other | $422M+1.7% | $415M+1.7% | $408M+0.7% | $405M+0.5% | $403M+1.8% | |
| Health Care Benefits | $1.51B-4.1% | $1.58B-1.4% | $1.6B-2.0% | $1.63B+1.4% | $1.61B+0.8% | |
| Health Services | $1.04B-0.3% | $1.04B-0.9% | $1.05B-0.7% | $1.06B-0.4% | $1.06B0.0% | |
| Pharmacy & Consumer Wellness | $1.6B+1.4% | $1.57B+1.6% | $1.55B+0.6% | $1.54B0.0% | $1.54B-0.3% | |
| Health care costs recorded in other insurance liabilities by Business | ||||||
| Corporate/ Other | $177M0.0% | $177M-0.6% | $178M-1.1% | $180M-3.2% | $186M-0.5% | |
| Health Care Benefits | $102M+17.2% | $87M+11.5% | $78M0.0% | $78M-22.0% | $100M-6.5% | |
| Revenue by Product | ||||||
| Products | $254.47B+1.8% | $249.91B+2.1% | $244.78B+2.0% | $239.86B+1.9% | $235.47B+1.7% | |
| Services | $15.43B+1.7% | $15.18B-0.6% | $15.27B-2.2% | $15.62B-2.1% | $15.95B-1.8% | |
| Revenues from external customers by Product | ||||||
| Front Store | $21.48B+0.1% | $21.46B-0.1% | $21.48B0.0% | $21.48B+0.4% | $21.4B-0.6% | |
| Pharmacy | $233.46B+1.9% | $229.03B+2.4% | $223.64B+2.2% | $218.75B+2.0% | $214.38B+2.0% | |
| Premiums | $135.72B+0.7% | $134.75B+2.4% | $131.65B+2.2% | $128.85B+2.8% | $125.33B+2.0% | |
| Interest accretion rate by Product | ||||||
| Large Case Pensions | 16.8%0.0pp | 16.8%0.0pp | 16.8%0.0pp | 16.8%0.0pp | 16.8%0.0pp | |
| Long Term Care | 20.4%0.0pp | 20.4%0.0pp | 20.4%0.0pp | 20.4%0.0pp | 20.4%0.0pp | |
| Current discount rate by Product | ||||||
| Large Case Pensions | 20.8%0.0pp | 20.8%-0.3pp | 21.1%+0.3pp | 20.8%-0.2pp | 21%+0.1pp | |
| Long Term Care | 22.2%+0.1pp | 22.1%-0.2pp | 22.3%+0.3pp | 22%0.0pp | 21.9%+0.2pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does CVS Health break its business down?
- CVS Health (CVS) reports revenue by business across 4 parts — Corporate Other, Health Care Benefits, Health Services and Pharmacy & Consumer Wellness. Each is extracted from the segment footnotes and tracked over time.
- Where does CVS Health's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in CVS Health's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
