TTM
1.5%
YoY change
+0.30pp
Trough year (2018)
2.1%
Peak year (1985)
9.4%
Latest annual
2.6%
Operating Margin history chart for CVS Health (CVS) from 1985 to 2025
Latest: 2.6%
Operating Margin change chart for CVS Health (CVS) from 1985 to 2025
Latest: +0.30pp
Operating Margin history table for CVS Health (CVS) from 1985 to 2025
| 2025 | 2.6% | +0.30pp | ||
| 2024 | 2.3% | -1.56pp | ||
| 2023 | 3.8% | +1.37pp | ||
| 2022 | 2.5% | -2.09pp | ||
| 2021 | 4.6% | -0.62pp | ||
| 2020 | 5.2% | +0.51pp | ||
| 2019 | 4.7% | +2.60pp | ||
| 2018 | 2.1% | -3.10pp | ||
| 2017 | 5.2% | -0.69pp | ||
| 2016 | 5.8% | -0.33pp | ||
| 2015 | 6.2% | -0.13pp | ||
| 2014 | 6.3% | -0.03pp | ||
| 2013 | 6.3% | +0.48pp | ||
| 2012 | 5.9% | -0.06pp | ||
| 2011 | 5.9% | -0.50pp | ||
| 2010 | 6.4% | -0.13pp | ||
| 2009 | 6.5% | -0.37pp | ||
| 2008 | 6.9% | +0.63pp | ||
| 2007 | 6.3% | +0.71pp | ||
| 2006 | 5.6% | +0.11pp | ||
| 2005 | 5.5% | +0.70pp | ||
| 2004 | 4.8% | -0.60pp | ||
| 2003 | 5.4% | +0.37pp | ||
| 2002 | 5.0% | +1.52pp | ||
| 2001 | 3.5% | -3.12pp | ||
| 2000 | 6.6% | +0.31pp | ||
| 1999 | 6.3% | +0.18pp | ||
| 1998 | 6.1% | +0.97pp | ||
| 1997 | 5.1% | +0.01pp | ||
| 1996 | 5.1% | +1.05pp | ||
| 1995 | 4.1% | -1.35pp | ||
| 1994 | 5.4% | -0.56pp | ||
| 1993 | 6.0% | +2.51pp | ||
| 1992 | 3.5% | -3.31pp | ||
| 1991 | 6.8% | -0.87pp | ||
| 1990 | 7.6% | -1.10pp | ||
| 1989 | 8.7% | +0.05pp | ||
| 1988 | 8.7% | -0.13pp | ||
| 1987 | 8.8% | -0.36pp | ||
| 1986 | 9.2% | -0.22pp | ||
| 1985 | 9.4% | — |
- 20252.6%+0.30pp
- 20242.3%-1.56pp
- 20233.8%+1.37pp
- 20222.5%-2.09pp
- 20214.6%-0.62pp
- 20205.2%+0.51pp
- 20194.7%+2.60pp
- 20182.1%-3.10pp
- 20175.2%-0.69pp
- 20165.8%-0.33pp
- 20156.2%-0.13pp
- 20146.3%-0.03pp
- 20136.3%+0.48pp
- 20125.9%-0.06pp
- 20115.9%-0.50pp
- 20106.4%-0.13pp
- 20096.5%-0.37pp
- 20086.9%+0.63pp
- 20076.3%+0.71pp
- 20065.6%+0.11pp
- 20055.5%+0.70pp
- 20044.8%-0.60pp
- 20035.4%+0.37pp
- 20025.0%+1.52pp
- 20013.5%-3.12pp
- 20006.6%+0.31pp
- 19996.3%+0.18pp
- 19986.1%+0.97pp
- 19975.1%+0.01pp
- 19965.1%+1.05pp
- 19954.1%-1.35pp
- 19945.4%-0.56pp
- 19936.0%+2.51pp
- 19923.5%-3.31pp
- 19916.8%-0.87pp
- 19907.6%-1.10pp
- 19898.7%+0.05pp
- 19888.7%-0.13pp
- 19878.8%-0.36pp
- 19869.2%-0.22pp
- 19859.4%—
Operating Margin values are taken from CVS Health's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at CVS Health (CVS)
According to CVS Health's latest reported financial statements, the company's latest reported operating margin is 1.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, CVS Health (CVS) reported operating margin of 2.58% – expanded 0.3 percentage points year-over-year.
The record annual operating margin stands at 9.40%, reached in 1985; the historical low of 2.07% was recorded in 2018.
CVS Health Operating Margin by Year
CVS Health Operating Margin 2025: 2.6%
2025's operating margin for CVS Health came in at 2.58%, expanded 0.3 percentage points from 2024.
CVS Health Operating Margin 2024: 2.3%
CVS Health posted operating margin of 2.28% in 2024, contracted 1.6 percentage points from 2023.
CVS Health Operating Margin 2023: 3.8%
In 2023, CVS Health reported operating margin of 3.84%, expanded 1.4 percentage points from 2022.
CVS Health Operating Margin 2022: 2.5%
CVS Health operating margin in 2022 was 2.47%, contracted 2.1 percentage points from 2021.
CVS Health Operating Margin 2021: 4.6%
CVS Health operating margin in 2021 was 4.56%.
See more financial history for CVS Health (CVS).
Sector peers by Operating Margin
Healthcare peers of CVS Health (CVS), ranked by their latest operating margin
| 45.9% | |
| 45.3% | |
| 31.6% | |
| 27.6% | |
| 27.6% | |
| 26.4% | |
| 23.7% | |
| 4.2% |
- 45.9%
- 45.3%
- 31.6%
- 27.6%
- 27.6%
- 23.7%
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