Cvs Health (CVS) Operating Expenses (2009 - 2026)
Cvs Health's (CVS) quarterly Operating Expenses came in at $101.4 billion in Q2 2026, up 5.03% on a YoY basis from $96.5 billion in Q2 2025, and up 5.9% quarter-over-quarter from $95.7 billion in Q1 2026.
Analysis
Cvs Health (CVS) Operating Expenses (2009 - 2026) Analysis & Trends
Cvs Health (CVS) has reported Operating Expenses for 18 consecutive years, with $101.4 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 5.03% year-over-year to $101.4 billion; the trailing twelve-month figure through Jun 2026 stood at $406.8 billion (up 7.71% YoY), and the FY2025 full-year result was $397.4 billion, up 9.09% from the prior year.
- Operating Expenses improved to $101.4 billion in Q2 2026 per CVS's latest filing, from $95.7 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.
- Historically, Operating Expenses has averaged $89.9 billion across 5 years, with a median of $89.3 billion in 2023.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses advanced 20.28% in 2022, then increased 1.17% in 2023.
- Over 5 years, 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 slipped by 2.11% to $101.4 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $101.4 billion, $95.7 billion, and $103.6 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 354.24 Bn | 322.77 Bn | 36.67 Bn | 104.04 Bn |
| 2 | Cvs Health | 122.38 Bn | 108.42 Bn | 47.23 Bn | 101.39 Bn |
| 3 | Elevance Health | 86.47 Bn | 50.52 Bn | 13.45 Bn | 48.54 Bn |
| 4 | Cigna | 73.02 Bn | 65.76 Bn | 14.97 Bn | 68.99 Bn |
| 5 | Humana | 48.22 Bn | 24.35 Bn | 5.50 Bn | 39.51 Bn |
| 6 | Centene | 31.79 Bn | 4.73 Bn | 14.55 Bn | 52.38 Bn |
| 7 | Molina Healthcare | 9.95 Bn | 1.03 Bn | 1.43 Bn | 10.73 Bn |
| 8 | Oscar Health | 9.53 Bn | 976.50 Mn | 1.09 Bn | 4.49 Bn |
| 9 | Corvel | 3.41 Bn | 3.06 Bn | - | - |
| 10 | Alignment Healthcare | 2.70 Bn | 2.00 Bn | 180.96 Mn | 1.29 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 101.39 Bn |
| 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 |