How does CVS Health (CVS) make money?

CVS Health (CVS) primarily makes money through Pharmacy Revenue, which accounts for 58.2% of total revenue. For TTM through Q4 2025, CVS Health generated $402.07B in total revenue with a net profit margin of 0.4%.

What is CVS Health (CVS) gross profit margin?

CVS Health (CVS) reported a gross profit margin of 13.8% for TTM through Q4 2025, equivalent to $55.36B in gross profit. This means CVS Health retains 13.8% of each revenue unit after direct costs of production.

What is CVS Health (CVS) operating profit margin?

CVS Health (CVS) reported an operating profit margin of 1.2% for TTM through Q4 2025, equivalent to $4.66B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is CVS Health (CVS) net profit margin?

CVS Health (CVS) reported a net profit margin of 0.4% for TTM through Q4 2025, equivalent to $1.77B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does CVS Health (CVS) spend on capital expenditures?

CVS Health (CVS) spent $2.83B on capital expenditures in TTM through Q4 2025 (0.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is CVS Health (CVS) free cash flow?

CVS Health (CVS) generated $7.81B in free cash flow for TTM through Q4 2025 (1.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is CVS Health (CVS) effective tax rate?

CVS Health (CVS) had an effective tax rate of 19.1% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

How CVS Health (CVS) Makes Money: A Visual Guide

CVS Health (CVS) generated $402.07B in revenue, earning $1.77B in net profit (0.4% margin). Its largest revenue source is Pharmacy Revenue (58.2% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

CVS Health (CVS) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported February 10, 2026).

Frequently asked questions

How does CVS Health (CVS) make money?: CVS Health (CVS) primarily makes money through Pharmacy Revenue, which accounts for 58.2% of total revenue. For TTM through Q4 2025, CVS Health generated $402.07B in total revenue with a net profit margin of 0.4%.
What is CVS Health (CVS) gross profit margin?: CVS Health (CVS) reported a gross profit margin of 13.8% for TTM through Q4 2025, equivalent to $55.36B in gross profit. This means CVS Health retains 13.8% of each revenue unit after direct costs of production.
What is CVS Health (CVS) operating profit margin?: CVS Health (CVS) reported an operating profit margin of 1.2% for TTM through Q4 2025, equivalent to $4.66B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is CVS Health (CVS) net profit margin?: CVS Health (CVS) reported a net profit margin of 0.4% for TTM through Q4 2025, equivalent to $1.77B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does CVS Health (CVS) spend on capital expenditures?: CVS Health (CVS) spent $2.83B on capital expenditures in TTM through Q4 2025 (0.7% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is CVS Health (CVS) free cash flow?: CVS Health (CVS) generated $7.81B in free cash flow for TTM through Q4 2025 (1.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is CVS Health (CVS) effective tax rate?: CVS Health (CVS) had an effective tax rate of 19.1% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.