Operating Income for CVS Health (CVS)
According to CVS Health's latest reported financial statements, the company's current operating income (TTM) is $4.66B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
CVS
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$4.66B
YoY change
+21.9%
5Y CAGR
-5.7%
Peak year (2020)
$13.91B
Cumulative operating income
$187.05B
Operating Income history chart for CVS Health (CVS) from 1985 to 2025
Operating Income history table for CVS Health (CVS) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $10.38B | +21.9% | ||
| 2024 | $8.52B | -38.0% | ||
| 2023 | $13.74B | +72.8% | ||
| 2022 | $7.95B | -40.2% | ||
| 2021 | $13.31B | -4.3% | ||
| 2020 | $13.91B | +16.1% | ||
| 2019 | $11.99B | +198.1% | ||
| 2018 | $4.02B | -57.8% | ||
| 2017 | $9.54B | -8.2% | ||
| 2016 | $10.39B | +9.6% | ||
| 2015 | $9.47B | +7.7% | ||
| 2014 | $8.80B | +9.5% | ||
| 2013 | $8.04B | +11.5% | ||
| 2012 | $7.21B | +13.9% | ||
| 2011 | $6.33B | +3.2% | ||
| 2010 | $6.14B | -4.5% | ||
| 2009 | $6.42B | +6.3% | ||
| 2008 | $6.05B | +26.1% | ||
| 2007 | $4.79B | +96.3% | ||
| 2006 | $2.44B | +20.9% | ||
| 2005 | $2.02B | +38.8% | ||
| 2004 | $1.45B | +2.2% | ||
| 2003 | $1.42B | +18.0% | ||
| 2002 | $1.21B | +56.5% | ||
| 2001 | $770.60M | -41.7% | ||
| 2000 | $1.32B | +16.5% | ||
| 1999 | $1.14B | +22.0% | ||
| 1998 | $930.50M | +32.2% | ||
| 1997 | $704.10M | +16.4% | ||
| 1996 | $604.70M | +52.6% | ||
| 1995 | $396.20M | -35.1% | ||
| 1994 | $610.70M | -2.0% | ||
| 1993 | $623.30M | +72.7% | ||
| 1992 | $360.90M | -46.1% | ||
| 1991 | $669.60M | +0.8% | ||
| 1990 | $664.20M | +0.5% | ||
| 1989 | $660.90M | +12.1% | ||
| 1988 | $589.60M | +12.6% | ||
| 1987 | $523.60M | +8.3% | ||
| 1986 | $483.50M | +7.7% | ||
| 1985 | $449.00M | — |
Operating Income values are taken from CVS Health's reported income 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
As of the 2025 fiscal year, CVS Health (CVS) reported operating income of $10.38B – grew 21.9% year-over-year.
Across 2020–2025 (5 years), CVS Health operating income produced a CAGR of -5.7% – with a net decline across the window.
CVS Health operating income peaked at $13.91B in 2020; the latest annual figure is $10.38B in 2025 (25.3% below peak).
Across the available history, operating income reached its high of $13.91B in 2020 and its low of $360.90M in 1992.
Among 8 Healthcare peers, CVS Health (CVS) ranks 9th; the peer median for operating income is $22.84B.
CVS Health Operating Income by Year
CVS Health Operating Income 2025: $10.38B
CVS Health operating income in 2025 was $10.38B, grew 21.9% from 2024.
CVS Health Operating Income 2024: $8.52B
CVS Health operating income in 2024 was $8.52B, plunged 38.0% below 2023.
CVS Health Operating Income 2023: $13.74B
CVS Health operating income in 2023 was $13.74B, surged 72.8% from 2022.
CVS Health Operating Income 2022: $7.95B
CVS Health operating income in 2022 was $7.95B, plunged 40.2% below 2021.
CVS Health Operating Income 2021: $13.31B
CVS Health operating income in 2021 was $13.31B.
See more financial history for CVS Health (CVS).
Sector peers — Operating Income
Companies in the same sector as CVS Health, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Novo Nordisk A/S (NVO) | $127.66B | Healthcare |
| Eli Lilly and Company (LLY) | $29.70B | Healthcare |
| Merck & Co., Inc. (MRK) | $26.78B | Healthcare |
| Johnson & Johnson (JNJ) | $25.60B | Healthcare |
| AbbVie Inc. (ABBV) | $20.09B | Healthcare |
| UnitedHealth Group Incorporated (UNH) | $18.96B | Healthcare |
| AstraZeneca PLC (AZN) | $13.74B | Healthcare |
| Amgen Inc. (AMGN) | $10.68B | Healthcare |
Frequently asked questions
What is CVS Health's operating income?
- Latest reported operating income for CVS Health (CVS) is $4.66B (period ending December 31, 2025).
How has CVS Health operating income changed year-over-year?
- CVS Health (CVS) operating income changed +21.9% year-over-year on the latest annual filing.
What is the long-term growth rate of CVS Health operating income?
- CVS Health (CVS) operating income compound annual growth rate is -5.7% over the most recent 5 years available.
When did CVS Health operating income hit its highest annual value?
- CVS Health operating income reached its highest annual value of $13.91B in 2020.
What was CVS Health operating income in 2024?
- CVS Health (CVS) operating income in 2024 was $8.52B.
What was CVS Health operating income in 2025?
- CVS Health (CVS) operating income in 2025 was $10.38B.
Metrics overview
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