CVS HEALTH Corp (CVS) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — CVS

Balance Sheet

(in billions USD)

Metric	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	9.54	9.10	11.79	10.08	6.88	12.51	9.80	13.04	13.81	14.62	17.20	12.12	8.44	9.83	7.12	5.60
Short-term Investments	2.26	2.13	2.39	2.58	2.81	3.76	3.29	3.15	3.08	3.10	2.79	2.88	2.90	3.02	3.01	3.19
Accounts Receivable	40.99	43.86	40.65	39.63	36.18	32.39	32.22	32.93	29.55	28.33	26.32	27.23	26.45	25.28	24.16	23.86
Inventory	17.77	18.96	17.45	17.39	17.65	16.07	16.35	17.95	17.29	18.26	18.06	17.38	18.16	17.40	16.98	17.62
Total Current Assets	74.82	77.11	75.65	73.19	67.34	69.95	67.47	70.14	67.76	68.71	68.34	62.14	61.48	60.84	56.56	55.72
Property, Plant & Equipment	13.04	12.84	12.83	12.86	12.73	13.03	13.04	13.02	13.00	12.87	12.63	12.76	12.84	12.77	12.66	12.61
Goodwill	85.48	85.48	91.20	91.20	91.27	91.27	91.27	91.26	91.26	84.06	78.09	78.56	79.06	79.12	79.55	79.55
Intangible Assets	25.07	25.98	26.22	26.57	27.82	28.31	28.77	29.62	30.12	26.37	25.16	28.14	28.54	29.55	30.08	30.64
Total Non-current Assets*	178.16	178.22	182.69	182.39	185.08	182.53	182.27	181.16	182.32	170.62	162.87	168.14	171.39	174.05	174.61	173.89
Total Assets	252.97	255.33	258.34	255.59	252.43	252.48	249.74	251.31	250.07	239.33	231.21	230.28	232.87	234.89	231.16	229.61
Short-term Debt	--	1.25	3.04	1.26	0.80	0.00	2.72	--	1.00	--	--	--	--	--	--	0.25
Total Current Liabilities	86.41	92.70	94.16	88.96	84.63	81.39	83.32	81.55	79.21	75.05	72.41	68.46	69.78	64.71	59.31	60.10
Long-term Debt	60.53	60.51	57.29	59.04	59.82	62.64	57.69	59.78	61.42	56.45	50.85	50.80	52.06	56.83	59.29	59.27
Total Non-current Liabilities*	88.93	89.52	86.63	89.51	92.69	95.98	92.27	95.24	97.86	92.70	87.79	86.32	88.95	95.56	98.29	98.34
Total Liabilities	175.34	182.22	180.79	178.48	177.32	177.37	175.59	176.80	177.07	167.75	160.20	154.77	158.73	160.27	157.60	158.44
Retained Earnings	63.28	59.11	63.94	63.77	62.04	62.80	61.87	60.34	58.87	57.75	54.57	58.71	56.49	54.26	53.33	51.20
Total Stockholder Equity	77.46	72.93	77.38	76.93	74.94	74.93	73.97	74.34	72.73	71.38	70.68	75.18	73.83	74.31	73.24	70.85

* Derived from reported values

Income Statement

(in billions USD) (except per-share rows)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Total Revenue	100.43	105.69	102.87	98.92	94.59	97.71	95.43	91.23	88.44	93.81	89.76	88.92	85.28	83.85	81.16	80.64	76.83	76.60	73.79	72.62
Cost of Revenue	55.44	59.06	57.05	54.01	51.06	55.27	52.95	50.00	48.07	57.42	54.69	53.54	51.46	51.73	50.37	49.29	45.51	46.38	45.01	43.52
Gross Profit	44.98	46.63	45.83	44.91	43.53	42.44	42.48	41.24	40.36	36.39	35.08	35.39	33.82	32.12	30.79	31.35	31.32	30.23	28.78	29.10
Total Operating Expenses	40.30	44.52	49.03	42.53	40.16	40.07	41.65	38.19	38.09	33.02	31.39	32.15	30.38	64.06	34.73	9.17	9.88	59.60	25.72	8.87
Operating Income	4.68	2.11	(3.21)	2.38	3.37	2.37	0.83	3.05	2.27	3.37	3.69	3.23	3.45	3.62	(3.93)	4.57	3.49	2.23	3.06	4.33
Interest Expense	--	--	--	--	--	--	--	--	0.72	0.69	0.69	0.69	0.59	0.55	0.57	0.58	0.59	0.61	0.60	0.64
Pretax Income	3.94	1.35	(3.48)	1.65	2.62	2.13	0.11	2.34	1.58	2.71	3.02	2.57	2.88	3.11	(4.46)	4.03	2.95	1.57	2.15	3.74
Tax Provision	0.98	(1.57)	0.51	0.63	0.84	0.50	0.03	0.57	0.46	0.66	0.75	0.66	0.74	0.81	(1.05)	1.07	0.63	0.27	0.56	0.94
Net Income	2.94	2.94	(3.97)	1.02	1.78	1.64	0.09	1.77	1.11	2.05	2.26	1.90	2.14	2.30	(3.42)	2.95	2.31	1.31	1.60	2.78
Basic EPS	2.31	2.31	(3.13)	0.81	1.41	1.31	0.07	1.41	0.88	1.59	1.76	1.48	1.66	1.75	(2.60)	2.25	1.76	0.99	1.21	2.11
Diluted EPS	2.30	2.31	(3.13)	0.80	1.41	1.30	0.07	1.41	0.88	1.59	1.75	1.48	1.65	1.77	(2.60)	2.23	1.74	0.97	1.20	2.10

Cash Flow Statement

(in billions USD)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Operating Cash Flow	4.25	3.39	0.80	1.90	4.56	1.86	(0.74)	3.09	4.90	(2.64)	2.72	5.91	7.44	(1.95)	9.12	5.44	3.56	4.01	5.52	5.85
Capital Expenditures	0.85	0.78	0.70	0.61	0.74	0.77	0.67	0.64	0.71	0.91	0.55	0.59	0.98	0.69	0.58	0.41	1.05	0.60	0.61	0.49
Free Cash Flow*	3.40	2.61	0.10	1.29	3.81	1.09	(1.41)	2.45	4.20	(3.55)	2.17	5.32	6.45	(2.64)	8.54	5.04	2.51	3.41	4.91	5.36
Investing Cash Flow	(0.87)	(2.00)	(2.09)	(1.02)	(0.76)	(0.55)	(3.35)	(1.62)	(2.09)	(1.24)	(0.77)	(10.36)	(8.51)	(0.12)	(0.80)	(2.13)	(1.99)	(1.44)	(0.85)	(1.11)
Financing Cash Flow	(2.32)	(2.03)	(1.38)	0.81	(2.33)	0.43	(1.59)	1.25	(1.23)	(0.97)	(2.70)	3.63	2.73	(2.19)	(3.22)	(2.46)	(2.65)	(2.83)	(1.97)	(3.31)

* Derived from reported values

Dividends Per Share

(USD)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Dividends Per Share	0.67	0.67	0.67	0.67	0.67	0.67	0.67	0.67	0.67	0.61	0.61	0.61	0.61	0.55	0.55	0.55	0.55	0.50	0.50	0.50