On products and services:
The Health Care Benefits segment also serves customers who purchase products and services that are ancillary to its health insurance products.
CVS HEALTH Corp (CVS) single-company analysis
This page is a descriptive assembly from a frozen evidence pack of public SEC filing excerpts and verified SEC companyfacts metrics. It is not a rating, recommendation, endorsement, forecast, valuation, or investment advice. Filer viewpoints are attributed to the filer and figures are as of their cited filing dates.
Informational only - not investment advice. See Disclaimer.
Back to CVS company profile. Existing company-page SVG figures remain the source for financial time-series context.
Business & segments
On reportable segments:
The Company has four reportable segments: Health Care Benefits, Health Services, Pharmacy & Consumer Wellness and Corporate/Other.
Financial profile
The values below are templated from verified SEC companyfacts-derived facts. The embedded SVG figures show selected annual series from the same facts.
Reported revenue: 402,067,000,000
Operating margin: 1.16%
Free cash flow: 7,807,000,000
Revenue scale is shown from verified SEC companyfacts. Revenue: 402,067,000,000
Operating margin is shown from verified SEC companyfacts. Operating margin: 1.16%
Net margin is shown from verified SEC companyfacts. Net margin: 0.44%
Free cash flow is computed from verified operating cash flow and capital expenditure facts. Free cash flow: 7,807,000,000
Capital expenditures are shown as reported payment magnitude from verified SEC companyfacts. Capital expenditures: 2,832,000,000
Dividends paid are shown as reported cash outflow magnitude from verified SEC companyfacts. Dividends paid: 3,397,000,000
| Metric | Value | Fiscal year | Period end | Source |
|---|---|---|---|---|
| Capital expenditures | 2,832,000,000 | 2025 | 2025-12-31 | USD |
| Dividends paid | 3,397,000,000 | 2025 | 2025-12-31 | USD |
| Free cash flow | 7,807,000,000 | 2025 | 2025-12-31 | USD |
| Liabilities / equity | 2.37 | 2025 | 2025-12-31 | Ratio |
| Net income | 1,768,000,000 | 2025 | 2025-12-31 | USD |
| Net margin | 0.44% | 2025 | 2025-12-31 | Percent |
| Operating cash flow | 10,639,000,000 | 2025 | 2025-12-31 | USD |
| Operating income | 4,660,000,000 | 2025 | 2025-12-31 | USD |
Stated strategy
Key idiosyncratic risks
On customer concentration or dependency:
The success of our businesses depends in part on customer loyalty, superior customer service and our ability to persuade customers to frequent our retail stores and online sites and to purchase products in additional categories and our proprietary brands.
On reimbursement and pricing:
Specifically: •As competition increases in the geographies in which we operate, including competition from new entrants, a significant increase in price compression and/or reimbursement pressures could occur, and this could require us to reevaluate our pricing structures to remain competitive. •In our Health Care Benefits segment, we must often bid against our competitors in a highly competitive environment to acquire and retain our government customers’ business.
Recent developments
On reported revenue movement:
The increase in total revenues was driven by growth across all operating segments. •Please see “Segment Analysis” later in this MD&A for additional information about the revenues of the Company’s segments.