The Business StudyHow CVS makes money
CVS brought in $402 billion in revenue in 2025 and kept $1.8 billion as profit: $0.44 of every $100. Its biggest source of money was Health services (Caremark), at $190 billion (40% of the total).
From CVS's Form 10-K for the year ended December 31, 2025. Page updated November 8, 2026.
Out of every $100 CVS took in, it kept
Where CVS's money comes from. 3 lines in its 10‑K.
These lines include sales between CVS's own businesses, so they add up to a bit more than its $402 billion total.
6 years of CVS's revenue and profit.
Fiscal years as CVS reports them; the latest ended December 31, 2025. Profit is net income.
Quick answers about CVS.
How does CVS make money?
CVS runs pharmacies and a pharmacy benefit manager (Caremark) and owns the health insurer Aetna. The biggest line in its latest 10-K is Health services (Caremark) ($190 billion).
How much money does CVS make a year?
$402 billion in revenue in 2025, and $1.8 billion in net profit. That's up 8% from the year before.
Is CVS profitable?
Yes. CVS made $1.8 billion in net profit in 2025, which is $0.44 of every $100 it took in.
How many employees does CVS have?
About 300,000 employees ("over 300,000") as of December 31, 2025. That works out to $1.34 million in revenue per employee.
Is CVS growing?
Yes. Revenue went from $269 billion in 2020 to $402 billion in 2025, up 50%.
Compare CVS.
Source: CVS Health Corporation, annual report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 10, 2026.
Revenue, profit and the breakdowns are the numbers the company reported in that filing (its XBRL data). Profit means net income; "operating profit" means operating income. Nothing on this page is estimated.