Capital Expenditures for CVS Health (CVS)
According to CVS Health's latest reported financial statements, the company's current capital expenditures (TTM) is $2.83B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
CVS
Currently viewingCapital ExpendituresSwitch metric
Latest period
$2.83B
YoY change
+1.8%
5Y CAGR
+3.0%
Peak year (2023)
$3.03B
Cumulative capital expenditures
$56.74B
CapEx history chart for CVS Health (CVS) from 1989 to 2025
CapEx history table for CVS Health (CVS) from 1989 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $2.83B | +1.8% | ||
| 2024 | $2.78B | -8.2% | ||
| 2023 | $3.03B | +11.1% | ||
| 2022 | $2.73B | +8.2% | ||
| 2021 | $2.52B | +3.4% | ||
| 2020 | $2.44B | -0.8% | ||
| 2019 | $2.46B | +20.6% | ||
| 2018 | $2.04B | +6.2% | ||
| 2017 | $1.92B | -13.8% | ||
| 2016 | $2.22B | -6.0% | ||
| 2015 | $2.37B | +10.8% | ||
| 2014 | $2.14B | +7.7% | ||
| 2013 | $1.98B | -2.3% | ||
| 2012 | $2.03B | +8.4% | ||
| 2011 | $1.87B | -6.6% | ||
| 2010 | $2.00B | -21.3% | ||
| 2009 | $2.55B | +16.9% | ||
| 2008 | $2.18B | +20.8% | ||
| 2007 | $1.81B | +2.1% | ||
| 2006 | $1.77B | +18.3% | ||
| 2005 | $1.50B | +11.0% | ||
| 2004 | $1.35B | +20.1% | ||
| 2003 | $1.12B | +1.2% | ||
| 2002 | $1.11B | +55.4% | ||
| 2001 | $713.60M | +2.6% | ||
| 2000 | $695.30M | -3.8% | ||
| 1999 | $722.70M | +43.9% | ||
| 1998 | $502.30M | +47.0% | ||
| 1997 | $341.60M | -51.4% | ||
| 1996 | $702.80M | +32.9% | ||
| 1995 | $528.90M | +25.5% | ||
| 1994 | $421.40M | +9.0% | ||
| 1993 | $386.70M | +27.1% | ||
| 1992 | $304.30M | +20.2% | ||
| 1991 | $253.10M | +9.5% | ||
| 1990 | $231.10M | +14.1% | ||
| 1989 | $202.60M | — |
CapEx values are taken from CVS Health's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
In 2025, CVS Health (CVS) capital expenditures totalled $2.83B – edged up 1.8% year-over-year.
Across 2020–2025 (5 years), CVS Health capital expenditures produced a CAGR of +3.0% – with the latest reading among the more recent periods of the dataset.
CVS Health capital expenditures peaked at $3.03B in 2023; the latest annual figure is $2.83B in 2025 (6.6% below peak).
$3.03B stands as the all-time-high annual capital expenditures, posted in 2023, against a low of $202.60M during 1989.
Within Healthcare, CVS Health (CVS) ranks 6th among 8 peers we track. The peer median for capital expenditures is $3.87B.
CVS Health Capital Expenditures by Year
CVS Health Capital Expenditures 2025: $2.83B
CVS Health capital expenditures in 2025 was $2.83B, edged up 1.8% from 2024.
CVS Health Capital Expenditures 2024: $2.78B
CVS Health capital expenditures in 2024 was $2.78B, declined 8.2% below 2023.
CVS Health Capital Expenditures 2023: $3.03B
CVS Health capital expenditures in 2023 was $3.03B, grew 11.1% from 2022. This figure represents the highest annual value in the available history.
CVS Health Capital Expenditures 2022: $2.73B
CVS Health capital expenditures in 2022 was $2.73B, grew 8.2% from 2021.
CVS Health Capital Expenditures 2021: $2.52B
CVS Health capital expenditures in 2021 was $2.52B.
See more financial history for CVS Health (CVS).
Sector peers — CapEx
Companies in the same sector as CVS Health, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $90.11B | Healthcare |
| Eli Lilly and Company (LLY) | $7.84B | Healthcare |
| Johnson & Johnson (JNJ) | $4.83B | Healthcare |
| Merck & Co., Inc. (MRK) | $4.11B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $3.62B | Healthcare |
| AstraZeneca PLC (AZN) | $2.81B | Healthcare |
| Amgen Inc. (AMGN) | $1.86B | Healthcare |
| AbbVie Inc. (ABBV) | $1.21B | Healthcare |
Frequently asked questions
What is CVS Health's capital expenditures?
- Latest reported capital expenditures for CVS Health (CVS) is $2.83B (period ending December 31, 2025).
How has CVS Health capital expenditures changed year-over-year?
- CVS Health (CVS) capital expenditures changed +1.8% year-over-year on the latest annual filing.
What is the long-term growth rate of CVS Health capital expenditures?
- CVS Health (CVS) capital expenditures compound annual growth rate is +3.0% over the most recent 5 years available.
When did CVS Health capital expenditures hit its highest annual value?
- CVS Health capital expenditures reached its highest annual value of $3.03B in 2023.
What was CVS Health capital expenditures in 2024?
- CVS Health (CVS) capital expenditures in 2024 was $2.78B.
What was CVS Health capital expenditures in 2025?
- CVS Health (CVS) capital expenditures in 2025 was $2.83B.
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