Cvs Health (CVS) Operating Expenses (2009 - 2026)
Cvs Health (CVS) posted Operating Expenses of $95.7 billion for Q1 2026, down 7.56% on a QoQ basis from $103.6 billion in Q4 2025, and up 4.97% year-over-year from $91.2 billion in Q1 2025.
Cvs Health (CVS) Operating Expenses (2009 - 2026) Analysis & Trends
Cvs Health's Operating Expenses history runs 18 years deep, the most recent figure standing at $95.7 billion for Q1 2026.
- Quarterly Operating Expenses rose 4.97% year-over-year to $95.7 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $401.9 billion (up 8.83% YoY) and the FY2025 annual result came in at $397.4 billion, up 9.09% from the prior year.
- Operating Expenses was $95.7 billion for Q1 2026 at Cvs Health, down from $103.6 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $106.1 billion in Q3 2025 and bottomed at $73.3 billion in Q1 2022.
- A 5-year average of $89.2 billion and a median of $88.2 billion in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses grew 20.28% — and 2023, when it gained 1.17%.
- Cvs Health's Operating Expenses stood at $80.2 billion in 2022, then advanced by 12.79% to $90.4 billion in 2023, then increased by 5.42% to $95.3 billion in 2024, then gained by 8.64% to $103.6 billion in 2025, then dropped by 7.56% to $95.7 billion in 2026.
- Business Quant data shows CVS's Operating Expenses at $95.7 billion in Q1 2026, $103.6 billion in Q4 2025, and $106.1 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 384.70 Bn | 354.90 Bn | 38.23 Bn | 102.73 Bn |
| 2 | Cvs Health | 136.05 Bn | 124.42 Bn | 22.85 Bn | 95.75 Bn |
| 3 | Elevance Health | 82.25 Bn | 46.44 Bn | 35.79 Bn | 48.54 Bn |
| 4 | Cigna | 75.16 Bn | 67.54 Bn | -44.29 Bn | 66.14 Bn |
| 5 | Humana | 47.47 Bn | 25.57 Bn | 5.94 Bn | 37.89 Bn |
| 6 | Centene | 31.35 Bn | 7.64 Bn | 43.95 Bn | 48.08 Bn |
| 7 | Molina Healthcare | 10.44 Bn | 1.19 Bn | 1.43 Bn | 10.73 Bn |
| 8 | Oscar Health | 8.62 Bn | 1.83 Bn | 1.42 Bn | 3.94 Bn |
| 9 | Alignment Healthcare | 4.13 Bn | 3.41 Bn | 144.48 Mn | 1.22 Bn |
| 10 | Progyny | 2.48 Bn | 2.26 Bn | 83.07 Mn | 47.69 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |