CVS HEALTH Corp (CVS)
CVS HEALTH Corp brought in $420.6B of revenue over the twelve months to September 30, 2026, up 6.7% from a year earlier. Net income was $11B, a net margin of 2.6%. Operating cash flow minus capital spending left $7.8B of free cash flow in fiscal 2025. At September 30, 2026 it held $11.7B in cash against $60.7B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 4, 2026.
Key facts about CVS HEALTH Corp
- Net worth
- CVS HEALTH Corp has a market value (market cap) of $113.8B at the latest share price, and shareholders' equity of $80.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $402.1B (+7.8% year on year), with net income of $1.8B. Over the 12 months to September 30, 2026: revenue $420.6B, net income $11B.
- Cash flow
- In fiscal 2025 operations brought in $10.6B of cash; after $2.8B of capital spending, free cash flow was $7.8B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 4, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- CVS HEALTH Corp's next report is expected around February 9, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- CVS HEALTH Corp declared dividends of $2.66 per share in fiscal 2025, a yield of 2.99% at the current price.
What CVS HEALTH Corp does
CVS Health operates retail pharmacies, health clinics, and pharmacy benefit management services, and provides health insurance through its Aetna division. It fills prescriptions, administers vaccines, sells wellness and consumer retail products, and manages healthcare benefits for employers, individuals, and government programs. Its shares trade on NYSE under the ticker CVS.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $402.1B | $1.8B | $1.39 | $7.8B |
| 2024 | $372.8B | $4.6B | $3.66 | $6.3B |
| 2023 | $357.8B | $8.3B | $6.47 | $10.4B |
| 2022 | $322.5B | $4.3B | $3.26 | $13.5B |
| 2021 | $292.1B | $8B | $6.02 | $15.7B |
| 2020 | $268.7B | $7.2B | $5.46 | $13.4B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where CVS ranks in Consumer staples
Dividends
CVS HEALTH Corp declared $2.66 per share in fiscal 2025. At the current price that is a yield of 2.99%. It paid out $3.4B in cash dividends, 192% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.66 | $3.4B | 192% |
| 2024 | $2.66 | $3.4B | 73% |
| 2023 | $2.42 | $3.1B | 38% |
| 2022 | $2.20 | $2.9B | 67% |
| 2021 | $2.00 | $2.6B | 33% |
| 2020 | $2.00 | $2.6B | 37% |
Latest SEC filings
What CVS HEALTH Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026Form 13F-HR filing 13F-HR
- November 4, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 5.4% to $108.4B versus the same quarter last year; diluted EPS $1.68 versus -$3.13.
- November 4, 2026
- November 4, 2026
- August 17, 2026
- August 13, 2026Passive stake changed SCHEDULE 13G/A
- August 6, 2026Form 13F-HR filing 13F-HR
- August 5, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 7.3% to $106.1B versus the same quarter last year; diluted EPS $2.31 versus $0.80.
- August 5, 2026
- June 23, 2026
What is CVS worth? A DCF from its reported cash flow
Insider trades
What the people running CVS HEALTH Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders bought $2M worth of shares on the open market in the last 90 days and sold none.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 6, 2026 | Shah Prem SEVP and Group President | Bought | 23,855 | $2M |
| June 26, 2026 | Clark James DavidSVP, Cont & Chief Acct Officer | Shares withheld for tax | 454 | $41.3K |
| May 31, 2026 | Compton-Phillips AmyEVP, Chief Medical Officer | Shares withheld for tax | 7,618 | $693.1K |
| May 31, 2026 | Newman BrianEVP, Chief Financial Officer | Shares withheld for tax | 2,478 | $225.4K |
| May 21, 2026 | Aguirre FernandoDirector | Other change | 1,563 | $146.1K |
| May 21, 2026 | Robbins LarryDirector | Soldindirect | 370,462 | $34.6M |
| May 20, 2026 | Aguirre FernandoDirector | Other change | 30,437 | $2.9M |
| May 20, 2026 | Robbins LarryDirector | Soldindirect | 797,628 | $74.6M |
Who owns CVS
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.51% | April 29, 2026 |
| Capital World Investors13G, passive | 5.5% | May 13, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 2,064 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 123,223,409 | -2,696,444 |
| Vanguard Capital Management LLC | 83,315,369 | +665,293 |
| Capital World Investors | 74,951,955 | -2,296,687 |
| State Street Corp | 60,283,408 | +961,227 |
| Dodge & Cox | 50,012,765 | -1,767,351 |
| Wellington Management Group Llp | 33,801,113 | +11,233,381 |
| Geode Capital Management, LLC | 29,899,653 | +440,611 |
| Fmr LLC | 28,920,617 | -2,276,273 |
| Vanguard Portfolio Management LLC | 26,637,259 | +639,911 |
| Capital Research Global Investors | 24,329,151 | +4,316,819 |
| Bank of America Corp | 23,188,670 | +13,836,701 |
| Jpmorgan Chase & Co | 22,112,970 | -7,414,155 |
| Invesco Ltd. | 20,595,431 | -4,543,515 |
| Morgan Stanley | 18,606,028 | +780,906 |
| Norges Bank | 18,038,922 | new |
| Capital International Investors | 15,387,600 | -4,622 |
| Goldman Sachs Group Inc | 13,411,807 | +772,006 |
| Charles Schwab Investment Management Inc | 13,259,314 | -415,611 |
| Davis Selected Advisers | 11,865,916 | -373,750 |
| Pzena Investment Management LLC | 11,769,536 | -2,003,517 |
Insiders
20 insiders reported holding 5,896,260 shares in total, about $524.8M at the last price.
| Holder | Shares |
|---|---|
| Robbins LarryDirector | 4,824,7994,824,799 held indirectly |
| Joyner J. DavidPresident, CEO and Chair, Director | 231,209 |
| Shah Prem SEVP and Group President | 151,368 |
| Brown C David IIDirector | 129,316 |
| Mandadi TilakEVP, Chief Exp & Tech Officer | 98,676 |
| Capozzi Heidi BEVP and Chief People Officer | 97,473 |
| Khichi Samrat S.EVP, CPO and General Counsel | 71,560 |
| Compton-Phillips AmyEVP, Chief Medical Officer | 68,217 |
| Nelson Steven HEVP and President, Aetna | 46,53024 held indirectly |
| Newman BrianEVP, Chief Financial Officer | 44,362 |
Questions about CVS
What does CVS HEALTH Corp do?
CVS Health operates retail pharmacies, health clinics, and pharmacy benefit management services, and provides health insurance through its Aetna division. It fills prescriptions, administers vaccines, sells wellness and consumer retail products, and manages healthcare benefits for employers, individuals, and government programs. Its shares trade on NYSE under the ticker CVS.
What is CVS HEALTH Corp's net worth?
CVS HEALTH Corp has a market value (market cap) of $113.8B at the latest share price, and shareholders' equity of $80.5B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is CVS HEALTH Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $11B on revenue of $420.6B, a net margin of 2.6%.
How much revenue does CVS HEALTH Corp make?
Over the twelve months to September 30, 2026 CVS HEALTH Corp reported revenue of $420.6B. That is 6.7% more than a year earlier.
When did CVS HEALTH Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 4, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the insider trade from November 6, 2026.
When is CVS HEALTH Corp's next earnings report?
CVS HEALTH Corp's next report is expected around February 9, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does CVS HEALTH Corp pay a dividend?
Yes. CVS HEALTH Corp declared dividends of $2.66 per share in fiscal 2025, a yield of 2.99% at the current price.
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Where the numbers come from
Financial figures are the values CVS HEALTH Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.