CVS Health Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $402.07B | $372.81B | $357.78B | $322.47B | $292.11B | $268.71B | $256.78B | $194.58B |
| Pharmacy Services | — | — | — | $169.24B | $153.02B | $141.94B | $141.49B | $134.13B |
| Retail/LTC | — | — | — | $106.59B | $100.11B | $91.20B | $86.61B | $83.99B |
| Health Care Benefits | $143.35B | $130.67B | $105.65B | $91.41B | $82.19B | $75.47B | $69.60B | $5.55B |
| Health Services | $190.43B | $173.61B | $186.84B | — | — | — | — | — |
| Pharmacy & Consumer Wellness | $139.37B | $124.50B | $116.76B | — | — | — | — | — |
| Corporate/Other | $484.0M | $451.0M | $451.0M | $530.0M | $721.0M | $426.0M | $512.0M | $606.0M |
| Eliminations | $-71.56B | $-56.41B | $-51.93B | $-45.30B | $-43.92B | $-40.32B | $-41.44B | $-29.69B |
| Cost of Revenue | $221.17B | $206.29B | $217.10B | $196.89B | $175.80B | $163.98B | $158.72B | $156.45B |
| Gross Profit | $180.90B | $166.52B | $140.68B | $125.58B | $116.31B | $104.73B | $98.06B | $38.13B |
| Gross Margin | 45.0% | 44.7% | 39.3% | 38.9% | 39.8% | 39.0% | 38.2% | 19.6% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $4.66B | $8.52B | $13.74B | $7.95B | $13.31B | $13.91B | $11.99B | $4.02B |
| Operating Margin | 1.2% | 2.3% | 3.8% | 2.5% | 4.6% | 5.2% | 4.7% | 2.1% |
| Interest Expense | — | — | $2.66B | $2.29B | $2.50B | $2.91B | $3.04B | $2.62B |
| Pretax Income | $2.14B | $6.15B | $11.17B | $5.84B | $10.54B | $9.77B | $9.00B | $1.41B |
| Income Tax Expense | $408.0M | $1.56B | $2.81B | $1.51B | $2.55B | $2.57B | $2.37B | $2.00B |
| Net Income | $1.77B | $4.61B | $8.34B | $4.31B | $8.00B | $7.18B | $6.63B | $-594.0M |
| Net Margin | 0.4% | 1.2% | 2.3% | 1.3% | 2.7% | 2.7% | 2.6% | -0.3% |
| EPS (Basic) | $1.40 | $3.67 | $6.49 | $3.29 | $6.07 | $5.48 | $5.10 | $-0.57 |
| EPS (Diluted) | $1.39 | $3.66 | $6.47 | $3.26 | $6.02 | $5.46 | $5.08 | $-0.57 |
| Shares Outstanding (Basic) | 1.27B | 1.26B | 1.29B | 1.31B | 1.32B | 1.31B | 1.30B | 1.04B |
| Shares Outstanding (Diluted) | 1.27B | 1.26B | 1.29B | 1.32B | 1.33B | 1.31B | 1.31B | 1.04B |
| Dividends Per Share | $2.66 | $2.66 | $2.42 | $2.20 | $2.00 | $2.00 | $2.00 | $2.00 |