CVS
SP100NYSECVS Health Corporation
Healthcare · Healthcare Plans · United States
CVS Health Corporation provides health solutions in the United States. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services, including medical, pharmacy, dental, and behavioral health plans; medical management capabilities; Medicare Advantage and Medicare Supplement plans; prescription drug plans (PDPs); and Medicaid health care management services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Health Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, specialty and mail-order pharmacy, clinical services, disease management, medical spend management services, and pharmacy and other administrative services. It serves employers, insurance companies, unions, government employee groups, health plans, PDPs, Medicaid managed care plans, CMS, plans offered on public health insurance exchanges, and other sponsors of health benefit plans. The Pharmacy & Consumer Wellness segment sells prescription and over-the-counter drugs, consumer health and beauty products, personal care products, and other general merchandise products. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. It operates online retail pharmacy websites, retail specialty pharmacy stores, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1963 and is headquartered in Woonsocket, Rhode Island.
www.cvshealth.com ↗Shares trade at a premium 45.9× trailing earnings, easing to 12.5× on forward estimates. Profitability shows a net margin of 0.7% and return on equity of 3.8%. Leverage is high at 4.3× net debt/EBITDA. Revenue grew 6.1% year-on-year. It yields 2.5% in dividends. The mean analyst target of USD105.69 sits 0.9% above the current price (Strong Buy, 26 analysts).
business model
CVS Health is a diversified healthcare company combining a large retail pharmacy chain, a pharmacy benefit manager (Caremark), and a health insurer (Aetna), aiming to integrate care delivery, insurance, and pharmacy. It earns revenue from prescription and front-store retail sales, PBM services, insurance premiums, and increasingly health-services delivery.
revenue segments
Revenue is reported across Health Care Benefits (Aetna insurance premiums), Pharmacy & Consumer Wellness (retail pharmacies and front-store), Health Services (Caremark PBM plus care-delivery assets such as Oak Street Health and Signify Health), with significant intercompany eliminations.
key dependencies
The company depends on prescription volumes and reimbursement rates, PBM client retention and drug-pricing dynamics, Aetna medical-cost trends and Medicare Advantage star ratings/enrollment, retail foot traffic, and execution of its vertically integrated care strategy.
competitors
Competitors include UnitedHealth Group (Optum PBM/insurance) and Cigna (Express Scripts) in PBM and insurance, Walgreens and grocery/mass pharmacies in retail, Humana and Elevance in health insurance, and Amazon Pharmacy in prescription fulfillment.
moat
CVS's moat comes from vertical integration across insurance, PBM, and pharmacy that captures margin along the healthcare value chain, enormous prescription-volume scale, a dense retail/pharmacy footprint, and Caremark's negotiating leverage.
risks
Risks include rising medical costs and Medicare Advantage pressures at Aetna, reimbursement and drug-pricing reform, PBM regulatory and political scrutiny over transparency, retail-pharmacy margin pressure and store closures, and integration risk from healthcare acquisitions.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.