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Screener / SEC EDGAR /CIK 0000064803 /10-K filed Feb 10, 2026, compared with Feb 12, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
CICAHCORCVSMCKUNH
NYSE Health care · Pharmacies

CVS Health CVS

CVS quote by TradingView
Employees
300,000
Headquarters
Woonsocket, RI
CEO
J. David Joyner
Next results
around Feb 9, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $402.1B through the costs to a net profit of $1.8B · income statement of the 10-K

1% operating margin
Revenue to Gross profit: $180.9BRevenue to Cost of revenue: $221.2BGross profit to Operating profit: $4.7BGross profit to Operating expenses: $176.2BOperating profit to Net profit: $1.8BOperating profit to Tax & other: $2.9B Revenue: $402.1B REVENUE $402.1B +8% Y/Y Gross profit: $180.9B · 45% margin GROSS PROFIT $180.9B 45% margin Cost of revenue: $221.2B · 55% of revenue COST OF REVENUE $221.2B 55% of revenue Operating profit: $4.7B · 1% margin OPERATING PROFIT $4.7B 1% margin · −45% Y/Y Operating expenses: $176.2B · 44% of revenue OPERATING EXPENSES $176.2B 44% of revenue Net profit: $1.8B · 0% margin NET PROFIT $1.8B 0% margin · −62% Y/Y Tax & other: $2.9B · 1% of revenue TAX & OTHER $2.9B 1% of revenue
Gross profit $180.9B 45% margin
Operating profit $4.7B 1% margin · −45% Y/Y
Net profit $1.8B 0% margin · −62% Y/Y
The full income statement, year by year

CVS among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 7.8%, above 54% of 59 peers (their median 7.1%) REVENUE GROWTH 7.8% · above 54% Gross margin: 44.2%, above 26% of 50 peers (their median 65.2%) GROSS MARGIN 44.2% · above 26% Operating margin: 3.6%, above 22% of 50 peers (their median 13.7%) OPERATING MARGIN 3.6% · above 22% Net margin: 2.6%, above 24% of 59 peers (their median 9.7%) NET MARGIN 2.6% · above 24% FCF margin: 3.7%, above 15% of 55 peers (their median 15.8%) FCF MARGIN 3.7% · above 15% Return on capital: 2.7%, above 0% of 41 peers (their median 9.2%) RETURN ON CAPITAL 2.7% · above 0%
CVS Peer median Below the median

What changed

9 new risk paragraphs. 10-K filed Feb 10, 2026 against Feb 12, 2025.

Risk factors
9 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
1 open-market buy in the last 90 days
Form 4
Filings
4 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +9.1% vs revenue +7.8% (+1.2 pts)
  • Cash from operations $10.6B vs net income $1.8B (FY ending Dec 31, 2025)
  • Inventory +6.3% vs revenue +7.8% (-1.6 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: Valuation of goodwill for the Government reporting unit. Same as last year: Valuation of health care costs payable
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

9 paragraphs in Risk Factors that were not in the 10-K filed Feb 12, 2025. Quoted as filed.

All 9 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    There can be no assurance that we have been able to, or will be able to, adequately prevent, detect, and/or remediate such data security incidents.
  2. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    The use of AI and related technology may also increase exposure to reputational, cybersecurity, data privacy, legal, regulatory and operational risks as AI technology rapidly evolves along with public opinion concerning the use of AI and the associated legal and regulatory framework. These risks include, but are not limited to,…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$322.5B$357.8B$372.8B$402.1B
Net income$4.3B$8.3B$4.6B$1.8B
Operating cash flow$16.2B$13.4B$9.1B$10.6B
Free cash flow$13.4B$10.4B$6.3B$7.8B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$402.1B ▲ 7.8% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

4 filings in the last 30 days · SEC EDGAR

All filings

About the company

CVS Health, Woonsocket, RI · from the 10-K filed Feb 10, 2026

CVS Health Corporation, together with its subsidiaries (collectively, “CVS Health,” the “Company,” “we,” “our” or “us”), is a leading health solutions company building a world of health around every consumer it serves and connecting care so that it works for people wherever they are. As of December 31, 2025, we had approximately 9,000 retail locations, more than 1,000 walk-in and primary care medical clinics and a leading pharmacy benefits manager with approximately 87 million plan members and expanding specialty pharmacy solutions.

Headquarters
Woonsocket, RI
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 4, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we employed over 300,000 colleagues primarily in the U" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 10, 2026 (open at SEC), compared with the 10-K filed Feb 12, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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