Cvs Health (CVS) Operating Expenses (2009 - 2026)
Cvs Health's (CVS) quarterly Operating Expenses came in at $95.7 billion in Q1 2026, up 4.97% YoY from $91.2 billion in Q1 2025, and down 7.56% on a QoQ basis from $103.6 billion in Q4 2025.
Cvs Health (CVS) Operating Expenses (2009 - 2026) Analysis & Trends
Cvs Health (CVS) has 18 years of Operating Expenses data on file, last reported at $95.7 billion in 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 fell to $95.7 billion in Q1 2026, from $103.6 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $106.1 billion in Q3 2025 to a low of $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 gained 20.28% — and 2023, when it grew 1.17%.
- Tracing CVS's Operating Expenses over 5 years: 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 104.04 Bn |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 101.39 Bn |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 48.54 Bn |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 39.51 Bn |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 52.38 Bn |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 10.73 Bn |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 4.49 Bn |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 1.29 Bn |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 715.17 Mn |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 49.30 Mn |
Historic Data
Download 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 |