Cvs Health (CVS) Operating Margin (2009 - 2026)
Cvs Health posted quarterly Operating Margin of 13.85% for Q1 2026, up 1227.0% year-on-year from 1.04% in Q1 2025, and up 7006.2% on a QoQ basis from 0.19% in Q4 2025.
Cvs Health (CVS) has 18 years of Operating Margin data on file, last reported at 13.85% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 1227.0% year-over-year to 13.85%; the trailing twelve-month figure through Mar 2026 stood at 12.31% (down 1343.0% YoY), and the FY2025 full-year result was 1.66%, up 108.0% from the prior year.
- Operating Margin for Q1 2026 stood at 13.85%, up from 0.19% in the prior quarter.
- Across five years, Operating Margin topped out at 14.15% in Q1 2023 and bottomed at 4.83% in Q3 2022.
- The 5-year median for Operating Margin is 1.78% (2024), against an average of 3.25%.
- The widest annual swing landed in 2022, when Operating Margin tumbled 1865 bps; it then surged 1393 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 2.39% in 2022, then surged by 251 bps to 3.6% in 2023, then tumbled by 93 bps to 0.27% in 2024, then declined by 28 bps to 0.19% in 2025, then jumped by 7006 bps to 13.85% in 2026.
- The last three Operating Margin figures came in at 13.85% (Q1 2026), 0.19% (Q4 2025), and 1.87% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 345.31 Bn | 315.51 Bn | 98.90 Bn | 8.05% |
| 2 | Cvs Health | 115.41 Bn | 103.79 Bn | 4.43 Bn | 13.85% |
| 3 | Elevance Health | 88.60 Bn | 53.18 Bn | 13.88 Bn | 1.55% |
| 4 | Cigna | 72.05 Bn | 64.43 Bn | -44.29 Bn | 2.06% |
| 5 | Humana | 39.05 Bn | 17.15 Bn | 4.00 Bn | 4.65% |
| 6 | Centene | 30.50 Bn | 6.84 Bn | 49.24 Bn | 3.73% |
| 7 | Molina Healthcare | 9.31 Bn | 60.65 Mn | 1.53 Bn | 0.77% |
| 8 | Oscar Health | 6.86 Bn | 63.05 Mn | -3.22 Bn | 1,060.06% |
| 9 | Alignment Healthcare | 2.69 Bn | 1.96 Bn | 135.85 Mn | 1.26% |
| 10 | Progyny | 2.12 Bn | 1.90 Bn | 83.07 Mn | 10.77% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 13.85% |
| Dec 31, 2025 | 0.19% |
| Sep 30, 2025 | 1.87% |
| Jun 30, 2025 | 6.96% |
| Mar 31, 2025 | 1.58% |
| Dec 31, 2024 | 0.27% |
| Sep 30, 2024 | 1.78% |
| Jun 30, 2024 | 3.34% |
| Mar 31, 2024 | 7.47% |
| Dec 31, 2023 | 3.60% |
| Sep 30, 2023 | 1.12% |
| Jun 30, 2023 | 0.31% |
| Mar 31, 2023 | 14.15% |
| Dec 31, 2022 | -2.39% |
| Sep 30, 2022 | -4.83% |
| Jun 30, 2022 | 5.79% |
| Mar 31, 2022 | 0.22% |
| Dec 31, 2021 | 3.06% |
| Sep 30, 2021 | 1.30% |
| Jun 30, 2021 | 0.40% |
| Mar 31, 2021 | 18.87% |
| Dec 31, 2020 | -10.29% |
| Sep 30, 2020 | 4.85% |
| Jun 30, 2020 | 27.65% |
| Mar 31, 2020 | 0.24% |
| Dec 31, 2019 | 4.54% |
| Sep 30, 2019 | 18.84% |
| Jun 30, 2019 | 21.10% |
| Mar 31, 2019 | 16.52% |
| Dec 31, 2018 | 1.51% |
| Sep 30, 2018 | 5.42% |
| Jun 30, 2018 | -2.93% |
| Mar 31, 2018 | 4.36% |
| Dec 31, 2017 | 6.44% |
| Sep 30, 2017 | 5.42% |
| Jun 30, 2017 | 4.64% |
| Mar 31, 2017 | 4.04% |
| Dec 31, 2016 | 6.53% |
| Sep 30, 2016 | 6.33% |
| Jun 30, 2016 | 5.39% |
| Mar 31, 2016 | 5.06% |
| Dec 31, 2015 | 104.96% |
| Sep 30, 2015 | 6.03% |
| Jun 30, 2015 | 6.09% |
| Mar 31, 2015 | 5.87% |
| Dec 31, 2014 | 6.26% |
| Sep 30, 2014 | 6.41% |
| Jun 30, 2014 | 6.38% |
| Mar 31, 2014 | 6.19% |
| Dec 31, 2013 | 6.75% |
| Sep 30, 2013 | 6.75% |
| Jun 30, 2013 | 6.31% |
| Mar 31, 2013 | 5.51% |
| Dec 31, 2012 | 7.32% |
| Sep 30, 2012 | 5.99% |
| Jun 30, 2012 | 5.55% |
| Mar 31, 2012 | 4.54% |
| Dec 31, 2011 | 6.91% |
| Sep 30, 2011 | 5.94% |
| Jun 30, 2011 | 5.62% |
| Mar 31, 2011 | 5.08% |
| Dec 31, 2010 | 7.16% |
| Sep 30, 2010 | 6.23% |
| Jun 30, 2010 | 6.25% |
| Mar 31, 2010 | 5.95% |
| Dec 31, 2009 | 7.34% |
| Sep 30, 2009 | 6.36% |
| Jun 30, 2009 | 6.43% |
| Mar 31, 2009 | 5.89% |