Latest revenue
$574.0M
as of 2026-03-31
Latest net income
$2.94B
as of 2026-03-31
Net margin
512.7%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $118.99B
- Enterprise value
- $175.73B
- P/E (trailing)
- 67.3×
- Forward P/E
- —
- P/B
- 1.63×
- Dividend yield
- 2.9%
- 52-wk high
- $98.43
- 52-wk low
- $58.50
- Beta
- —
- Shares out
- 1.28B
5-year trend
What this company does
CVS Health runs the largest US pharmacy chain, owns health insurer Aetna, and operates pharmacy benefits manager Caremark, linking drug retail, insurance, and prescription claims processing. It earns revenue mainly from selling prescription drugs and merchandise ($183B year-to-date) and collecting health insurance premiums ($101B), with Aetna premiums the fastest-growing piece. The company swung to a $3.98B quarterly loss after a $5.7B goodwill impairment, signaling deep strain in its healthcare delivery segment despite stable operating cash flow.
Generated from CVS's filing dated 2026-02-10
Key risks
- $5.725B Q3 goodwill impairment drove a $3.98B net loss; goodwill still represents $85.5B of $255B total assets, signaling further write-down risk.
- Health care costs rose to $92.5B YTD (+8%) outpacing premium growth; medical loss pressure in Aetna continues weighing on margins.
- Leverage remains elevated: $65.8B total debt against $73.1B equity, with $2.55B dividends paid YTD and zero buybacks versus $3B prior year.
Generated from CVS's filing dated 2026-02-10
Profitability
Operating margin
1.2%
49.3%Net margin
0.4%
64.5%Return on equity
2.4%
61.5%Return on assets
0.7%
61.7%Leverage
Debt / equity
2.37×
0.8%Long-term debt / equity
0.80×
0.4%Debt / assets
70.3%
0.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $574.0M | +10.4% | $2.94B | +65.4% | 512.7% |
Q4 2025 2025-12-31 | $400.43B | +7.8% | $143.0M | -91.3% | 0.0% |
Q3 2025 2025-09-30 | $632.0M | +14.9% | $-1.18B | -1450.6% | -185.9% |
Q2 2025 2025-06-30 | $487.0M | +23.6% | $1.02B | -42.3% | 209.7% |
Q1 2025 2025-03-31 | $520.0M | +14.5% | $1.78B | +59.8% | 342.1% |
Q4 2024 2024-12-31 | $371.41B | — | $1.64B | — | 0.4% |
Q3 2024 2024-09-30 | $550.0M | +98.6% | $87.0M | -96.2% | 15.8% |
Q2 2024 2024-06-30 | $394.0M | +43.8% | $1.77B | -6.9% | 449.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Retail-Drug Stores and Proprietary Stores · SIC 5912
Your notes
Keep private notes on CVS — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$100.0K
Insider selling
$359.5M
Net activity
−$359.4M
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns CVS
Institutional value
$21.36B
Total shares held
309.2M
Distinct holders
743
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 82.7M | $5.94B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 26.0M | $1.87B | — | New |
| 3 | Invesco Ltd. | 25.1M | $1.81B | — | New |
| 4 | Davis Selected Advisers | 12.2M | $879.1M | — | New |
| 5 | Legal & General Group Plc | 9.5M | $683.4M | — | New |
| 6 | Bank of New York Mellon Corp | 9.0M | $648.5M | — | New |
| 7 | WELLS FARGO & COMPANY/MN | 8.1M | $582.5M | — | New |
| 8 | DIMENSIONAL FUND ADVISORS LP | 7.2M | $516.8M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 7.2M | $514.1M | — | New |
| 10 | UBS Group AG | 6.1M | $440.3M | — | New |
| 11 | Nuveen, LLC | 5.3M | $379.4M | — | New |
| 12 | DEUTSCHE BANK AG\ | 4.6M | $330.8M | — | New |
| 13 | Allianz Asset Management GmbH | 4.1M | $293.3M | — | New |
| 14 | Swiss National Bank | 3.7M | $267.6M | — | New |
| 15 | National Pension Service | 3.4M | $245.6M | — | New |
| 16 | Vanguard Global Advisers, LLC | 2.9M | $207.8M | — | New |
| 17 | Russell Investments Group, Ltd. | 2.9M | $206.3M | — | New |
| 18 | Mitsubishi UFJ Asset Management Co., Ltd. | 2.9M | $205.8M | — | New |
| 19 | Sumitomo Mitsui Trust Group, Inc. | 2.8M | $201.1M | — | New |
| 20 | BNP PARIBAS FINANCIAL MARKETS | 2.6M | $186.8M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
What specifically drove the $5.725B Q3 goodwill impairment, which segment, and should we expect further write-downs against the remaining $85.5B?
- 2
Health care costs rose 7% YoY to $32B on 9% premium growth—what's the underlying MBR trajectory and when does Aetna margin normalize?
- 3
Accounts receivable jumped $7.5B YTD versus $1B last year—what's behind the deterioration in collections and is any of it at risk?
Refreshed when CVS files a new report · last from 2026-02-10