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
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