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+1.7% | $484M+7.3% | $445M+0.5% | $454M+11.8% | $469M+24.1% | |
| Health Care Benefits | $144.52B+8.5% | $143.35B+9.7% | $140.02B+12.5% | $137.02B+16.4% | $133.24B+19.0% | |
| Health Services | $195.2B+10.4% | $190.43B+9.7% | $186.2B+6.0% | $181.06B+1.4% | $176.78B-3.2% | |
| Pharmacy & Consumer Wellness | $139.44B+9.2% | $139.37B+11.9% | $135.22B+10.7% | $131.43B+10.8% | $127.69B+8.6% | |
| Revenues from external customers by Business | ||||||
| Corporate/ Other | $53M-5.4% | $53M-5.4% | $53M-7.0% | $54M-3.6% | $56M0.0% | |
| Health Care Benefits | $142.53B+8.3% | $141.45B+9.6% | $138.21B+12.3% | $135.33B+16.1% | $131.66B+18.6% | |
| Health Services | $169.12B+5.9% | $164.6B+4.2% | $162.63B+0.3% | $161.07B-2.6% | $159.65B-5.9% | |
| Pharmacy & Consumer Wellness | $93.92B+10.0% | $93.72B+12.3% | $90.8B+10.7% | $87.87B+10.0% | $85.38B+8.1% | |
| Cost of products sold by Business | ||||||
| Corporate/ Other | $0— | $0— | $0-100% | $0-100% | $0-100% | |
| Health Care Benefits | $0— | $0— | $0— | $0— | $0— | |
| Health Services | $180.24B+10.8% | $175.63B+9.7% | $171.78B+7.0% | $166.93B+1.8% | $162.62B-3.8% | |
| Pharmacy & Consumer Wellness | $113.57B+10.9% | $113.58B+14.3% | $109.72B+14.9% | $106.1B+14.9% | $102.38B+12.1% | |
| Less: Net realized capital gains (losses) by Business | ||||||
| Corporate/ Other | -$84M-2.4% | -$82M-9.3% | -$141M-378% | -$77M-6.9% | -$82M-8.6% | |
| Health Care Benefits | $35M+132% | $13M+113% | -$16M+91.2% | -$50M+82.3% | -$108M+65.3% | |
| Health Services | $10M-96.7% | $25M-91.3% | $304M— | $304M— | $304M— | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0+100% | $0+100% | $0+100% | |
| Adjusted operating income (loss) by Business | ||||||
| Corporate Other | -$1.93B-41.9% | -$1.69B-25.1% | -$1.48B-11.0% | -$1.42B-5.5% | -$1.36B+0.1% | |
| Health Services | $7.04B-6.0% | $7.15B-1.3% | $6.99B-4.8% | $7.14B+1.8% | $7.48B+7.0% | |
| Pharmacy & Consumer Wellness | $5.92B+0.2% | $6.04B+4.6% | $5.89B-2.6% | $6.01B+2.9% | $5.91B-1.6% | |
| Net investment income by Business | ||||||
| Corporate Other | $424M+2.7% | $431M+9.1% | $392M+1.6% | $400M+14.3% | $413M+28.3% | |
| Health Care Benefits | $1.86B+23.2% | $1.78B+21.0% | $1.7B+32.6% | $1.61B+53.9% | $1.51B+58.0% | |
| Health Services | $6M-98.0% | $20M-93.0% | $298M+7,550% | $298M+10,033% | $299M+30,000% | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0+100% | $0+100% | $0+100% | |
| Health care costs by Business | ||||||
| Corporate/ Other | $177M-4.8% | $177M-5.3% | $178M-8.5% | $180M-9.1% | $186M-9.0% | |
| Health Care Benefits | $122.89B+7.0% | $122.95B+8.2% | $120B+13.5% | $118.12B+20.9% | $114.84B+25.4% | |
| Health Services | $5.09B+35.6% | $4.83B+41.9% | $4.42B+56.1% | $4.06B+77.0% | $3.75B+96.9% | |
| Pharmacy & Consumer Wellness | $0— | $0— | $0— | $0— | $0— | |
| D&A by Business | ||||||
| Corporate/ Other | $422M+4.7% | $415M+4.8% | $408M+4.8% | $405M+6.4% | $403M+8.7% | |
| Health Care Benefits | $1.51B-6.1% | $1.58B-1.3% | $1.6B+0.8% | $1.63B+3.7% | $1.61B+2.6% | |
| Health Services | $1.04B-2.2% | $1.04B-1.9% | $1.05B+3.6% | $1.06B+9.3% | $1.06B+15.0% | |
| Pharmacy & Consumer Wellness | $1.6B+3.6% | $1.57B+1.9% | $1.55B-0.2% | $1.54B-0.8% | $1.54B-0.7% | |
| Health care costs recorded in other insurance liabilities by Business | ||||||
| Corporate/ Other | $177M-4.8% | $177M-5.3% | $178M-5.8% | $180M-10.4% | $186M-9.7% | |
| Health Care Benefits | $102M+2.0% | $87M-18.7% | $78M-14.3% | $78M-12.4% | $100M+19.0% | |
| Revenue by Product | ||||||
| Products | $254.47B+8.1% | $249.91B+7.9% | $244.78B+4.3% | $239.86B+1.5% | $235.47B-2.2% | |
| Services | $15.43B-3.3% | $15.18B-6.6% | $15.27B-1.0% | $15.62B+6.4% | $15.95B+16.3% | |
| Revenues from external customers by Product | ||||||
| Front Store | $21.48B+0.4% | $21.46B-0.3% | $21.48B-1.1% | $21.48B-1.8% | $21.4B-3.8% | |
| Pharmacy | $233.46B+8.9% | $229.03B+8.9% | $223.64B+4.8% | $218.75B+1.8% | $214.38B-2.1% | |
| Premiums | $135.72B+8.3% | $134.75B+9.6% | $131.65B+12.5% | $128.85B+16.3% | $125.33B+19.1% | |
| 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%-0.2pp | 20.8%-0.2pp | 21.1%+0.7pp | 20.8%-0.6pp | 21%-0.2pp | |
| Long Term Care | 22.2%+0.3pp | 22.1%+0.4pp | 22.3%+1.2pp | 22%0.0pp | 21.9%+0.3pp |
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.
