Cvs Health (CVS) Operating Expenses (2009 - 2026)

Cvs Health (CVS) reported Operating Expenses of $95.7 billion for Q1 2026, up 4.97% on a YoY basis from $91.2 billion in Q1 2025, and down 7.56% quarter-over-quarter from $103.6 billion in Q4 2025.

Cvs Health (CVS) Operating Expenses (2009 - 2026) Analysis & Trends

Cvs Health has reported Operating Expenses for 18 years, with the latest figure at $95.7 billion in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 4.97% year-over-year to $95.7 billion; the trailing twelve-month figure through Mar 2026 stood at $401.9 billion (up 8.83% YoY), and the FY2025 full-year result was $397.4 billion, up 9.09% from the prior year.
  • Operating Expenses for Q1 2026 stood at $95.7 billion, down from $103.6 billion in the prior quarter.
  • The five-year high for Operating Expenses was $106.1 billion in Q3 2025, with the low at $73.3 billion in Q1 2022.
  • Historically, Operating Expenses has averaged $89.2 billion across 5 years, with a median of $88.2 billion in 2024.
  • Annual changes were most pronounced in 2022 — Operating Expenses gained 20.28% — and 2023, when it grew 1.17%.
  • Cvs Health's Operating Expenses stood at $80.2 billion in 2022, then rose by 12.79% to $90.4 billion in 2023, then climbed by 5.42% to $95.3 billion in 2024, then increased by 8.64% to $103.6 billion in 2025, then decreased by 7.56% to $95.7 billion in 2026.
  • The last three Operating Expenses figures came in at $95.7 billion (Q1 2026), $103.6 billion (Q4 2025), and $106.1 billion (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Unitedhealth 363.95 Bn 334.15 Bn 98.90 Bn 102.73 Bn
2 Cvs Health 124.98 Bn 113.36 Bn 4.43 Bn 95.75 Bn
3 Elevance Health 85.46 Bn 50.04 Bn 13.88 Bn 47.88 Bn
4 Cigna 73.39 Bn 65.77 Bn -44.29 Bn 66.14 Bn
5 Humana 43.40 Bn 21.50 Bn 4.00 Bn 37.89 Bn
6 Centene 30.02 Bn 6.36 Bn 49.24 Bn 48.08 Bn
7 Molina Healthcare 9.92 Bn 668.90 Mn 1.53 Bn 10.71 Bn
8 Oscar Health 8.44 Bn 1.64 Bn -3.22 Bn 3.94 Bn
9 Alignment Healthcare 4.50 Bn 3.77 Bn 135.85 Mn 1.22 Bn
10 Clover Health Investments 2.61 Bn 2.41 Bn 154.54 Mn 721.86 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 95.75 Bn
Dec 31, 2025 103.58 Bn
Sep 30, 2025 106.08 Bn
Jun 30, 2025 96.53 Bn
Mar 31, 2025 91.21 Bn
Dec 31, 2024 95.34 Bn
Sep 30, 2024 94.60 Bn
Jun 30, 2024 88.19 Bn
Mar 31, 2024 86.17 Bn
Dec 31, 2023 90.44 Bn
Sep 30, 2023 86.07 Bn
Jun 30, 2023 85.69 Bn
Mar 31, 2023 81.83 Bn
Dec 31, 2022 80.19 Bn
Sep 30, 2022 85.08 Bn
Jun 30, 2022 75.97 Bn
Mar 31, 2022 73.28 Bn
Dec 31, 2021 74.26 Bn
Sep 30, 2021 70.73 Bn
Jun 30, 2021 68.29 Bn