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| 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 |