CVS Health Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	391,690	370,656	356,623	321,629	290,912	267,908
Revenue Growth (YoY)	6.66%	3.94%	10.88%	10.56%	8.59%	4.75%
Cost of Revenue	339,390	321,408	303,345	267,965	239,991	219,660
Gross Profit	52,300	49,248	53,278	53,664	50,921	48,248
Selling, General & Admin	42,153	41,229	39,205	37,922	36,764	34,585
Operating Expenses	42,153	41,229	39,205	37,922	36,764	34,585
Operating Income	10,147	8,019	14,073	15,742	14,157	13,663
Interest Expense	-3,090	-2,958	-2,658	-2,287	-2,503	-2,907
Interest & Investment Income	2,394	2,153	1,153	838	1,199	798
Other Non Operating Income (Expenses)	4	-5	-6	-4	-4	-12
EBT Excluding Unusual Items	9,455	7,209	12,562	14,289	12,849	11,542
Merger & Restructuring Charges	-256	-1,452	-1,040	-117	-1,490	-332
Impairment of Goodwill	-5,725	-	-	-	-431	-
Gain (Loss) on Sale of Assets	483	-	-349	-2,533	-	-
Legal Settlements	-1,540	-100	-	-5,803	-	-
Other Unusual Items	491	491	-	-	-391	-1,440
Pretax Income	2,908	6,148	11,173	5,836	10,537	9,770
Income Tax Expense	2,480	1,562	2,805	1,509	2,548	2,569
Earnings From Continuing Operations	428	4,586	8,368	4,327	7,989	7,201
Earnings From Discontinued Operations	-	-	-	-	-	-9
Net Income to Company	428	4,586	8,368	4,327	7,989	7,192
Minority Interest in Earnings	41	28	-24	-16	12	-13
Net Income	469	4,614	8,344	4,311	8,001	7,179
Net Income to Common	469	4,614	8,344	4,311	8,001	7,179
Net Income Growth	-90.65%	-44.70%	93.55%	-46.12%	11.45%	8.21%
Shares Outstanding (Basic)	1,265	1,259	1,285	1,312	1,319	1,309
Shares Outstanding (Diluted)	1,265	1,262	1,290	1,323	1,329	1,314
Shares Change (YoY)	-0.37%	-2.17%	-2.49%	-0.45%	1.14%	0.69%
EPS (Basic)	0.37	3.66	6.49	3.29	6.07	5.48
EPS (Diluted)	0.37	3.66	6.47	3.26	6.02	5.46
EPS Growth	-90.63%	-43.43%	98.47%	-45.85%	10.19%	7.54%
Free Cash Flow	6,293	6,326	10,395	13,450	15,745	13,428
Free Cash Flow Per Share	4.97	5.01	8.06	10.17	11.85	10.22
Dividend Per Share	2.660	2.660	2.420	2.200	2.000	2.000
Dividend Growth	2.31%	9.92%	10.00%	10.00%	-	-
Gross Margin	13.35%	13.29%	14.94%	16.68%	17.50%	18.01%
Operating Margin	2.59%	2.16%	3.95%	4.89%	4.87%	5.10%
Profit Margin	0.12%	1.24%	2.34%	1.34%	2.75%	2.68%
Free Cash Flow Margin	1.61%	1.71%	2.92%	4.18%	5.41%	5.01%
EBITDA	14,753	12,616	18,439	19,966	18,643	18,104
EBITDA Margin	3.77%	3.40%	5.17%	6.21%	6.41%	6.76%
D&A For EBITDA	4,606	4,597	4,366	4,224	4,486	4,441
EBIT	10,147	8,019	14,073	15,742	14,157	13,663
EBIT Margin	2.59%	2.16%	3.95%	4.89%	4.87%	5.10%
Effective Tax Rate	85.28%	25.41%	25.11%	25.86%	24.18%	26.30%
Revenue as Reported	394,084	372,809	357,776	322,467	292,111	268,706
Advertising Expenses	-	989	985	745	707	613

Updated Oct 29, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q