CVS Health Corporation (CVS) Q2 FY2026 Financial Statements: Revenue $106.10B, Net income $2.98B
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PeriodQ2 FY2026
Published
CVS Health reported $106.10 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026, up 7.3% from a year earlier, with growth in Health Care Benefits, Health Services and Pharmacy & Consumer Wellness. Net income attributable to CVS Health was $2.98 billion, up 191.8%, and diluted earnings per share were $2.31 against $0.80 a year earlier; operating income of $4.70 billion was up 97.5%, reflecting both better results across Health Care Benefits, Health Services and Pharmacy & Consumer Wellness and the absence of the legacy litigation charges recorded in the year-ago quarter. The insurance business accounted for much of the improvement, its medical benefit ratio coming in at 87.4%, down 2.5 points, helped by stronger Government performance and by the non-repeat of a prior-year Group Medicare Advantage premium deficiency reserve.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $106,096,000,000 | up 7.3% |
| Net income | $2,979,000,000 | up 191.8% |
| Diluted EPS | $2.31 | up 188.8% |
| Operating income | $4,703,000,000 | up 97.5% |
| Medical benefit ratio | 87.4% | down 2.5 points |
About this file
| Ticker | CVS |
|---|---|
| CIK | 0000064803 |
| Company | CVS Health Corporation |
| Business type | healthcare |
| Schema template | Diversified health care: revenue split the way the company reports it (products, premiums, services and net investment income), operating costs including health care costs, operating income, net income and per-share figures; a health-insurer overlay of medical benefit ratio and medical membership; segment revenues and the company's own segment profit measure; and a balance sheet and cash flow on the standard lines. |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions) and actual members (not thousands), except per-share amounts, share counts and ratios stated as percent |
CVS annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0000064803-26-000010 | 0000064803-26-000010 | 0000064803-26-000010 |
| Fiscal year | 2025 | 2024 | 2023 |
| Income statement | |||
| Products revenue | 249,908,000,000 | 231,521,000,000 | 245,138,000,000 |
| Premiums revenue | 134,751,000,000 | 122,896,000,000 | 99,192,000,000 |
| Services revenue | 15,175,000,000 | 16,239,000,000 | 12,293,000,000 |
| Net investment income | 2,233,000,000 | 2,153,000,000 | 1,153,000,000 |
| Total revenues | 402,067,000,000 | 372,809,000,000 | 357,776,000,000 |
| Cost of products sold | 221,167,000,000 | 206,287,000,000 | 217,098,000,000 |
| Health care costs | 125,538,000,000 | 115,121,000,000 | 86,247,000,000 |
| Operating expenses | 44,977,000,000 | 41,706,000,000 | 39,832,000,000 |
| Goodwill impairment | 5,725,000,000 | 0 | 0 |
| Restructuring charges | 0 | 1,179,000,000 | 507,000,000 |
| Loss on assets held for sale | 0 | 0 | 349,000,000 |
| Total operating costs | 397,407,000,000 | 364,293,000,000 | 344,033,000,000 |
| Operating income | 4,660,000,000 | 8,516,000,000 | 13,743,000,000 |
| Interest expense | -3,119,000,000 | -2,958,000,000 | -2,658,000,000 |
| Gain on early extinguishment of debt | 0 | 491,000,000 | 0 |
| Gain on deconsolidation of subsidiary | 483,000,000 | 0 | 0 |
| Other income | 112,000,000 | 99,000,000 | 88,000,000 |
| Income before income tax provision | 2,136,000,000 | 6,148,000,000 | 11,173,000,000 |
| Income tax provision | 408,000,000 | 1,562,000,000 | 2,805,000,000 |
| Net income | 1,728,000,000 | 4,586,000,000 | 8,368,000,000 |
| Net income loss attributable to noncontrolling interests | 40,000,000 | 28,000,000 | -24,000,000 |
| Net income attributable to cvs health | 1,768,000,000 | 4,614,000,000 | 8,344,000,000 |
| Basic EPS | 1.4 | 3.67 | 6.49 |
| Diluted EPS | 1.39 | 3.66 | 6.47 |
| Basic shares | 1,267,000,000 | 1,259,000,000 | 1,285,000,000 |
| Diluted shares | 1,271,000,000 | 1,262,000,000 | 1,290,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 8,453,000,000 | 8,586,000,000 | |
| Short term investments | 2,145,000,000 | 2,407,000,000 | |
| Accounts receivable net | 39,779,000,000 | 36,469,000,000 | |
| Inventories | 19,246,000,000 | 18,107,000,000 | |
| Total current assets | 74,714,000,000 | 68,645,000,000 | |
| Long term investments | 32,669,000,000 | 28,934,000,000 | |
| Property and equipment net | 13,083,000,000 | 12,993,000,000 | |
| Goodwill | 85,478,000,000 | 91,272,000,000 | |
| Intangible assets net | 25,508,000,000 | 27,323,000,000 | |
| Total assets | 253,538,000,000 | 253,215,000,000 | |
| Accounts payable | 17,641,000,000 | 15,892,000,000 | |
| Pharmacy claims and discounts payable | 26,344,000,000 | 24,166,000,000 | |
| Health care costs payable | 15,399,000,000 | 15,064,000,000 | |
| Short term debt | 0 | 2,119,000,000 | |
| Current portion of long term debt | 4,068,000,000 | 3,624,000,000 | |
| Total current liabilities | 88,692,000,000 | 84,609,000,000 | |
| Long term debt | 60,502,000,000 | 60,527,000,000 | |
| Total liabilities | 178,156,000,000 | 177,485,000,000 | |
| Total cvs health shareholders equity | 75,214,000,000 | 75,560,000,000 | |
| Noncontrolling interests | 168,000,000 | 170,000,000 | |
| Total shareholders equity | 75,382,000,000 | 75,730,000,000 | |
| Total debt | 64,570,000,000 | 66,270,000,000 | |
| Shares outstanding | 1,271,000,000 | 1,260,000,000 | |
| Book value per share | 59.18 | 59.97 | |
| Cash flow | |||
| Net cash provided by operating activities | 10,639,000,000 | 9,107,000,000 | 13,426,000,000 |
| Net cash used in investing activities | -5,871,000,000 | -7,613,000,000 | -20,889,000,000 |
| Repurchase of common stock | 0 | -3,023,000,000 | -2,012,000,000 |
| Dividends paid | -3,397,000,000 | -3,373,000,000 | -3,132,000,000 |
| Net cash provided by used in financing activities | -4,940,000,000 | -1,135,000,000 | 2,683,000,000 |
| Purchases of property and equipment | 2,832,000,000 | 2,781,000,000 | 3,031,000,000 |
| Depreciation and amortization | 4,606,000,000 | 4,597,000,000 | 4,366,000,000 |
| Free cash flow | 7,807,000,000 | 6,326,000,000 | 10,395,000,000 |
| Key metrics | |||
| Consolidated adjusted operating income | 14,443,000,000 | 11,976,000,000 | 17,534,000,000 |
| Medical benefit ratio percent | 91.2 | 92.5 | 86.2 |
| Medical membership | 26,591,000 | 27,095,000 | |
| Segment results | |||
| Health care benefits | |||
| Total revenues | 143,354,000,000 | 130,665,000,000 | 105,646,000,000 |
| Adjusted operating income | 2,939,000,000 | 307,000,000 | 5,577,000,000 |
| Premiums | 134,749,000,000 | 122,849,000,000 | 99,144,000,000 |
| Health care costs | 122,949,000,000 | 113,659,000,000 | 85,504,000,000 |
| Health services | |||
| Total revenues | 190,425,000,000 | 173,605,000,000 | 186,843,000,000 |
| Adjusted operating income | 7,151,000,000 | 7,243,000,000 | 7,312,000,000 |
| Pharmacy and consumer wellness | |||
| Total revenues | 139,367,000,000 | 124,500,000,000 | 116,763,000,000 |
| Adjusted operating income | 6,040,000,000 | 5,774,000,000 | 5,963,000,000 |
| Corporate other | |||
| Total revenues | 484,000,000 | 451,000,000 | 451,000,000 |
| Adjusted operating income | -1,687,000,000 | -1,348,000,000 | -1,318,000,000 |
| Total segment revenues before eliminations | 473,630,000,000 | 429,221,000,000 | 409,703,000,000 |
| Intersegment eliminations | -71,563,000,000 | -56,412,000,000 | -51,927,000,000 |
CVS quarterly income statement, balance sheet and cash flow
| Q2 FY2026 | Q2 FY2025 | |
|---|---|---|
| Label | Q2 FY2026 | Q2 FY2025 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 0000064803-26-000098 | 0000064803-26-000098 |
| Income statement | ||
| Products revenue | 66,219,000,000 | 60,607,000,000 |
| Premiums revenue | 35,117,000,000 | 34,195,000,000 |
| Services revenue | 4,119,000,000 | 3,626,000,000 |
| Net investment income | 641,000,000 | 487,000,000 |
| Total revenues | 106,096,000,000 | 98,915,000,000 |
| Cost of products sold | 58,862,000,000 | 54,005,000,000 |
| Health care costs | 31,485,000,000 | 31,317,000,000 |
| Operating expenses | 11,046,000,000 | 11,212,000,000 |
| Total operating costs | 101,393,000,000 | 96,534,000,000 |
| Operating income | 4,703,000,000 | 2,381,000,000 |
| Interest expense | -757,000,000 | -763,000,000 |
| Other income | 31,000,000 | 29,000,000 |
| Income before income tax provision | 3,977,000,000 | 1,647,000,000 |
| Income tax provision | 982,000,000 | 634,000,000 |
| Net income | 2,995,000,000 | 1,013,000,000 |
| Net income loss attributable to noncontrolling interests | -16,000,000 | 8,000,000 |
| Net income attributable to cvs health | 2,979,000,000 | 1,021,000,000 |
| Basic EPS | 2.33 | 0.81 |
| Diluted EPS | 2.31 | 0.8 |
| Basic shares | 1,279,000,000 | 1,266,000,000 |
| Diluted shares | 1,287,000,000 | 1,270,000,000 |
| Balance sheet | ||
| Cash and cash equivalents | 11,329,000,000 | |
| Short term investments | 2,629,000,000 | |
| Accounts receivable net | 40,309,000,000 | |
| Inventories | 17,622,000,000 | |
| Total current assets | 75,346,000,000 | |
| Long term investments | 33,247,000,000 | |
| Property and equipment net | 13,168,000,000 | |
| Goodwill | 85,478,000,000 | |
| Intangible assets net | 24,644,000,000 | |
| Total assets | 253,768,000,000 | |
| Accounts payable | 17,167,000,000 | |
| Pharmacy claims and discounts payable | 26,203,000,000 | |
| Health care costs payable | 16,313,000,000 | |
| Current portion of long term debt | 1,958,000,000 | |
| Total current liabilities | 87,041,000,000 | |
| Long term debt | 59,452,000,000 | |
| Total liabilities | 173,869,000,000 | |
| Total cvs health shareholders equity | 79,702,000,000 | |
| Noncontrolling interests | 197,000,000 | |
| Total shareholders equity | 79,899,000,000 | |
| Short term debt | 0 | |
| Total debt | 61,410,000,000 | |
| Shares outstanding | 1,278,000,000 | |
| Book value per share | 62.36 | |
| Cash flow | ||
| Net cash provided by operating activities derived | 6,345,000,000 | 1,897,000,000 |
| Purchases of property and equipment derived | 691,000,000 | 607,000,000 |
| Free cash flow derived | 5,654,000,000 | 1,290,000,000 |
| Dividends paid derived | -878,000,000 | -866,000,000 |
| Depreciation and amortization derived | 1,126,000,000 | 1,171,000,000 |
| Key metrics | ||
| Consolidated adjusted operating income | 5,157,000,000 | 3,808,000,000 |
| Medical benefit ratio percent | 87.4 | 89.9 |
| Medical membership | 26,023,000 | 26,721,000 |
| Segment results | ||
| Health care benefits | ||
| Total revenues | 37,538,000,000 | 36,258,000,000 |
| Adjusted operating income | 2,426,000,000 | 1,308,000,000 |
| Premiums | 35,119,000,000 | 34,184,000,000 |
| Health care costs | 30,692,000,000 | 30,740,000,000 |
| Health services | ||
| Total revenues | 51,795,000,000 | 46,453,000,000 |
| Adjusted operating income | 1,733,000,000 | 1,575,000,000 |
| Pharmacy and consumer wellness | ||
| Total revenues | 33,816,000,000 | 33,581,000,000 |
| Adjusted operating income | 1,475,000,000 | 1,338,000,000 |
| Corporate other | ||
| Total revenues | 147,000,000 | 96,000,000 |
| Adjusted operating income | -477,000,000 | -413,000,000 |
| Intersegment eliminations | -17,200,000,000 | -17,473,000,000 |
CVS year-to-date income statement and cash flow
| Six months ended June 30, 2026 | |
|---|---|
| Label | Six months ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0000064803-26-000098 |
| Income statement | |
| Products revenue | 128,445,000,000 |
| Premiums revenue | 68,908,000,000 |
| Services revenue | 7,954,000,000 |
| Net investment income | 1,215,000,000 |
| Total revenues | 206,522,000,000 |
| Cost of products sold | 114,306,000,000 |
| Health care costs | 60,843,000,000 |
| Operating expenses | 21,990,000,000 |
| Total operating costs | 197,139,000,000 |
| Operating income | 9,383,000,000 |
| Interest expense | -1,531,000,000 |
| Other income | 63,000,000 |
| Income before income tax provision | 7,915,000,000 |
| Income tax provision | 1,963,000,000 |
| Net income | 5,952,000,000 |
| Net income loss attributable to noncontrolling interests | -30,000,000 |
| Net income attributable to cvs health | 5,922,000,000 |
| Basic EPS | 4.64 |
| Diluted EPS | 4.61 |
| Basic shares | 1,276,000,000 |
| Diluted shares | 1,283,000,000 |
| Cash flow | |
| Net cash provided by operating activities | 10,594,000,000 |
| Net cash used in investing activities | -2,758,000,000 |
| Dividends paid | -1,725,000,000 |
| Net cash provided by used in financing activities | -5,011,000,000 |
| Purchases of property and equipment | 1,540,000,000 |
| Depreciation and amortization | 2,241,000,000 |
| Free cash flow | 9,054,000,000 |
| Key metrics | |
| Consolidated adjusted operating income | 10,307,000,000 |
| Medical benefit ratio percent | 86 |
| Medical membership | 26,023,000 |
| Segment results | |
| Health care benefits | |
| Total revenues | 73,509,000,000 |
| Adjusted operating income | 5,467,000,000 |
| Premiums | 68,911,000,000 |
| Health care costs | 59,271,000,000 |
| Health services | |
| Total revenues | 100,032,000,000 |
| Adjusted operating income | 3,222,000,000 |
| Pharmacy and consumer wellness | |
| Total revenues | 65,805,000,000 |
| Adjusted operating income | 2,672,000,000 |
| Corporate other | |
| Total revenues | 273,000,000 |
| Adjusted operating income | -1,054,000,000 |
| Intersegment eliminations | -33,097,000,000 |
| Prior year comparative | |
| Label | Six months ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0000064803-26-000098 |
| Income statement | |
| Products revenue | 118,276,000,000 |
| Premiums revenue | 67,015,000,000 |
| Services revenue | 7,205,000,000 |
| Net investment income | 1,007,000,000 |
| Total revenues | 193,503,000,000 |
| Cost of products sold | 105,062,000,000 |
| Health care costs | 60,452,000,000 |
| Operating expenses | 22,234,000,000 |
| Total operating costs | 187,748,000,000 |
| Operating income | 5,755,000,000 |
| Interest expense | -1,548,000,000 |
| Other income | 57,000,000 |
| Income before income tax provision | 4,264,000,000 |
| Income tax provision | 1,469,000,000 |
| Net income | 2,795,000,000 |
| Net income loss attributable to noncontrolling interests | 5,000,000 |
| Net income attributable to cvs health | 2,800,000,000 |
| Basic EPS | 2.22 |
| Diluted EPS | 2.21 |
| Basic shares | 1,264,000,000 |
| Diluted shares | 1,267,000,000 |
| Cash flow | |
| Net cash provided by operating activities | 6,453,000,000 |
| Net cash used in investing activities | -1,786,000,000 |
| Dividends paid | -1,706,000,000 |
| Net cash provided by used in financing activities | -1,526,000,000 |
| Purchases of property and equipment | 1,350,000,000 |
| Depreciation and amortization | 2,325,000,000 |
| Free cash flow | 5,103,000,000 |
| Key metrics | |
| Consolidated adjusted operating income | 8,387,000,000 |
| Medical benefit ratio percent | 88.6 |
| Medical membership | 26,721,000 |
| Segment results | |
| Health care benefits | |
| Total revenues | 71,068,000,000 |
| Adjusted operating income | 3,301,000,000 |
| Premiums | 66,992,000,000 |
| Health care costs | 59,377,000,000 |
| Health services | |
| Total revenues | 89,915,000,000 |
| Adjusted operating income | 3,178,000,000 |
| Pharmacy and consumer wellness | |
| Total revenues | 65,493,000,000 |
| Adjusted operating income | 2,651,000,000 |
| Corporate other | |
| Total revenues | 229,000,000 |
| Adjusted operating income | -743,000,000 |
| Intersegment eliminations | -33,202,000,000 |
CVS trailing twelve month income statement and cash flow
| Trailing twelve months ended June 30, 2026 | |
|---|---|
| Label | Trailing twelve months ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0000064803-26-000098 |
| Income statement | |
| Products revenue derived | 260,077,000,000 |
| Premiums revenue derived | 136,644,000,000 |
| Services revenue derived | 15,924,000,000 |
| Net investment income derived | 2,441,000,000 |
| Total revenues derived | 415,086,000,000 |
| Cost of products sold derived | 230,411,000,000 |
| Health care costs derived | 125,929,000,000 |
| Operating expenses derived | 44,733,000,000 |
| Goodwill impairment derived | 5,725,000,000 |
| Total operating costs derived | 406,798,000,000 |
| Operating income derived | 8,288,000,000 |
| Interest expense derived | -3,102,000,000 |
| Other income derived | 118,000,000 |
| Income before income tax provision derived | 5,787,000,000 |
| Income tax provision derived | 902,000,000 |
| Net income derived | 4,885,000,000 |
| Net income loss attributable to noncontrolling interests derived | 5,000,000 |
| Net income attributable to cvs health derived | 4,890,000,000 |
| Gain on deconsolidation of subsidiary derived | 483,000,000 |
| Diluted EPS derived | 3.79 |
| Cash flow | |
| Net cash provided by operating activities derived | 14,780,000,000 |
| Purchases of property and equipment derived | 3,022,000,000 |
| Dividends paid derived | -3,416,000,000 |
| Depreciation and amortization derived | 4,522,000,000 |
| Net cash used in investing activities derived | -6,843,000,000 |
| Net cash provided by used in financing activities derived | -8,425,000,000 |
| Free cash flow derived | 11,758,000,000 |
| Key metrics | |
| Consolidated adjusted operating income derived | 16,363,000,000 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | None. CVS Health reports in U.S. dollars, so no translation was needed. |
Notes
- Figures are in actual U.S. dollars. Every statement used was printed “In millions” (the balance sheets and statements of operations add “except per share amounts”), and the amounts here are those printed figures multiplied out. Medical membership is carried the same way: the membership tables are printed “In thousands”, and the counts here are those printed figures multiplied by 1,000, so they are numbers of members. Per-share amounts and medical benefit ratios (percent) are carried as printed.
- CVS Health is reported on a diversified health-care template rather than a revenue/cost-of-goods one, because three different businesses sit inside the same income statement: health insurance (Aetna, in the Health Care Benefits segment), pharmacy benefit management and health-care delivery (Health Services), and retail pharmacy (Pharmacy & Consumer Wellness). The revenue split the company itself uses, products, premiums, services and net investment income, is kept, together with health care costs, the Health Care Benefits medical benefit ratio and medical membership, which are the insurer measures. No gross profit is shown: cost of products sold relates to the product revenue only, and striking it against total revenues that are mostly insurance premiums would not mean anything.
- Annual figures come from the FY2025 10-K (accession 0000064803-26-000010), which presents the statements of operations and cash flows for 2025, 2024 and 2023 and the balance sheet for 2025 and 2024. FY2023 therefore carries no balance sheet here: that year's balance sheet is not on the face of this filing.
- Quarterly figures, the six-month view and the June 30, 2026 balance sheet come from the second-quarter 10-Q (accession 0000064803-26-000098). Its statements of operations print four columns, the three months and the six months ended June 30, 2026 and 2025, and the two discrete quarters are held in the quarterly list while the cumulative six-month columns are held separately, so no six-month figure is presented as a quarter.
- The 10-Q's statements of cash flows are presented for the six months only. The three-month cash flow figures for the quarters ended June 30, 2026 and 2025 are therefore derived, by subtracting the three months ended March 31, 2026 and 2025 as printed in the first-quarter 2026 earnings release (Exhibit 99.1 to the 8-K of May 6, 2026, accession 0000064803-26-000051) from those six-month totals. Fields whose names end in “_derived” are computed this way rather than read off a single printed line. On that basis operating cash flow was $6.35 billion in the June 2026 quarter against $1.90 billion a year earlier, and capital expenditure $691 million against $607 million.
- The trailing-twelve-month block is the fiscal 2025 year plus the six months ended June 30, 2026 less the six months ended June 30, 2025; every field in it ends in “_derived”. Its diluted earnings per share is the sum of the reported diluted EPS of those periods ($1.39 + $4.61 − $2.21); no trailing-twelve-month weighted average share count is carried, because none of these filings prints one.
- Free cash flow is operating cash flow less purchases of property and equipment. Capital expenditure is carried as a positive amount, though the cash flow statements print it as an outflow. Total debt is short-term debt plus the current portion of long-term debt plus long-term debt; CVS Health had no commercial paper outstanding at December 31, 2025 or at June 30, 2026, and the June 30, 2026 balance sheet prints no short-term debt line at all, so that component is zero on both dates.
- The field “net income (loss) attributable to noncontrolling interests” is carried with the sign the filings print under their caption “Net (income) loss attributable to noncontrolling interests”, in which a loss is positive and income is negative. A positive amount is therefore a loss attributable to noncontrolling interests, which is why this line adds to net income to arrive at net income attributable to CVS Health: the $40 million shown for fiscal 2025 is a loss attributable to those interests, and the $16 million negative shown for the quarter ended June 30, 2026 is income attributable to them.
- Book value per share is total CVS Health shareholders' equity (excluding noncontrolling interests) divided by the shares outstanding stated in the balance sheet's common stock caption, 1,271 million at December 31, 2025, 1,260 million at December 31, 2024 and 1,278 million at June 30, 2026. Those share counts are printed rounded to millions, so the per-share figure is good to about a cent.
- Segment figures are the reconciliations in the segment reporting notes (Note 19 of the 10-K, Note 9 of the 10-Q). Segment total revenues are stated before intersegment eliminations, which are carried alongside as a separate line, so the four segments do not sum to consolidated revenue on their own. “Adjusted operating income” is CVS Health's own measure of segment profit, operating income excluding amortization of intangible assets, net realized capital gains and losses, and items the company says neither arise in the ordinary course of its business nor reflect underlying performance. It is not a measure defined by U.S. generally accepted accounting principles; consolidated operating income is reported above it in the income statement lines.
- The medical benefit ratio is Health Care Benefits segment health care costs divided by that segment's premium revenues, as the company computes and prints it. Medical membership is a point-in-time count at the end of each period; the six-month and trailing views therefore carry the count at the period end rather than an average. The 10-K prints membership for December 31, 2025 and 2024 only, so FY2023 carries none.
- Fiscal 2025 results include a $5.7 billion goodwill impairment charge against the Health Care Delivery reporting unit within the Health Services segment, $1.2 billion of legacy litigation charges and a $483 million gain on the deconsolidation of Omnicare, which entered Chapter 11 proceedings in September 2025. These are on the face of the income statement and are not adjusted out of the figures reported here.
- CVS Health has had no stock splits, is not an American depositary receipt programme, and reports in U.S. dollars, so no split, depositary-ratio or currency adjustment was applied.
Uncertainties
- The three-month cash flow, capital expenditure, dividend and depreciation figures for the quarters ended June 30, 2026 and 2025 are not printed as three-month columns anywhere in the 10-Q. They are differences between the 10-Q's six-month columns and the three months ended March 31 printed in the first-quarter 2026 earnings release. The arithmetic is exact, but the release is a furnished earnings exhibit rather than a reviewed interim statement, and a first-quarter 10-Q would be the better source.
- The trailing-twelve-month diluted earnings per share of $3.79 is the sum of the reported diluted EPS of the component periods. Because the share count changes between them, that is an approximation of a true twelve-month per-share figure rather than an identity.
- Shares outstanding, and so book value per share, rest on share counts the balance sheet states rounded to the nearest million. The 10-Q cover page gives an exact 1,278,970,369 shares issued and outstanding as of July 29, 2026, which is a different date from the June 30, 2026 balance sheet and is not used here.
- Health Care Benefits segment premiums ($134,749 million in 2025) are slightly below consolidated premiums ($134,751 million) because a small amount of premium revenue arises outside that segment. The medical benefit ratio is struck on the segment figure, which is how the company defines it.
Company details
| Value | |
|---|---|
| Name | CVS HEALTH Corp |
| Ticker | CVS |
| CIK | 0000064803 |
| Exchange | NYSE |
| State | Rhode Island |
| Incorporation | Delaware |
| SIC | 5912 |
| Office | Trade & Services |
| Industry | Retail-Drug Stores and Proprietary Stores |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0000064803-26-000098 |
| Fiscal year end | 1231 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Url | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-12-31 | 2026-02-10 | 0000064803-26-000010 | https://www.sec.gov/Archives/edgar/data/64803/000006480326000010/0000064803-26-000010-index.htm | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-08-05 | 0000064803-26-000098 | https://www.sec.gov/Archives/edgar/data/64803/000006480326000098/0000064803-26-000098-index.htm | facts |
FAQ · CVS Health financial statements
How much revenue did CVS Health report in Q2 FY2026?
CVS Health reported $106.10 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026. That is up 7.3% from $98.92 billion in the same quarter a year earlier, with revenue higher in Health Care Benefits, Health Services and Pharmacy & Consumer Wellness.
What was CVS Health's net income in Q2 FY2026?
Net income attributable to CVS Health was $2.98 billion for Q2 FY2026, the quarter ended June 30, 2026, up 191.8% from $1.02 billion a year earlier. The increase came from improved performance in Health Care Benefits, Health Services and Pharmacy & Consumer Wellness and from the absence of the legacy litigation charges booked in the year-ago quarter, which were not deductible and had pushed the prior-year effective tax rate well above this quarter's.
What was CVS Health's earnings per share in Q2 FY2026?
CVS Health reported diluted earnings per share of $2.31 for Q2 FY2026, the quarter ended June 30, 2026, against $0.80 in the same quarter a year earlier.
Did CVS Health's medical benefit ratio improve in Q2 FY2026?
Yes. CVS Health's medical benefit ratio was 87.4% in Q2 FY2026, the quarter ended June 30, 2026, down 2.5 points from 89.9% a year earlier, which management attributed to better underlying Government business performance and to the absence of the prior year's Group Medicare Advantage premium deficiency reserve. A lower ratio means less of each premium dollar was spent on medical costs.
Where can I get CVS Health Corporation (CVS) financial data in machine-readable form?
Ticker Scout publishes CVS Health Corporation's financial statements as JSON at https://tickerscout.ai/cvs/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/cvs/narrative.md and https://tickerscout.ai/cvs/events.md. CVS Health Corporation's SEC CIK is 0000064803. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does CVS Health Corporation (CVS) next file with the SEC?
CVS Health Corporation (CVS) is expected to file its next Form 10-Q with the SEC on or around October 28, 2026. That date is a projection rather than a company-announced date: it is derived from CVS Health Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000064803-26-000098.
How this page was built
This page was built from three of CVS Health Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names four such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from CVS Health Corporation's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.