Cvs Health (CVS) Operating Margin (2009 - 2026)
Cvs Health's (CVS) quarterly Operating Margin came in at 13.85% in Q1 2026, up 1330.0% YoY from 0.97% in Q1 2025, and up 3868.44% on a QoQ basis from 0.37% in Q4 2025.
Cvs Health (CVS) Operating Margin (2009 - 2026) Analysis & Trends
Cvs Health (CVS) has 18 years of Operating Margin data on file, last reported at 13.85% in Q1 2026.
- Quarterly Operating Margin rose 1330.0% year-over-year to 13.85% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 3.45% (down 16.0% YoY) and the FY2025 annual result came in at 1.66%, down 63.0% from the prior year.
- Operating Margin improved to 13.85% in Q1 2026, from 0.37% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 17.07% in Q4 2022 to a low of 18.66% in Q3 2022.
- A 5-year average of 3.27% and a median of 0.87% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin tumbled 1899 bps — and 2023, when it soared 3362 bps.
- Tracing CVS's Operating Margin over 5 years: stood at 17.07% in 2022, then plunged by 99 bps to 0.09% in 2023, then soared by 7610 bps to 7.28% in 2024, then slumped by 105 bps to 0.37% in 2025, then jumped by 3868 bps to 13.85% in 2026.
- The last three Operating Margin figures came in at 13.85% (Q1 2026), 0.37% (Q4 2025), and 3.12% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 7.13% |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 4.43% |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 1.39% |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 3.33% |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 2.24% |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 1.33% |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 7.96% |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 3.15% |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 3.77% |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 11.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 4.43% |
| Mar 31, 2026 | 13.85% |
| Dec 31, 2025 | -0.37% |
| Sep 30, 2025 | -3.12% |
| Jun 30, 2025 | 0.49% |
| Mar 31, 2025 | 0.55% |
| Dec 31, 2024 | 7.28% |
| Sep 30, 2024 | 0.87% |
| Jun 30, 2024 | 9.93% |
| Mar 31, 2024 | 1.49% |
| Dec 31, 2023 | 0.09% |
| Sep 30, 2023 | 14.97% |
| Jun 30, 2023 | 0.31% |
| Mar 31, 2023 | 0.39% |
| Dec 31, 2022 | 17.07% |
| Sep 30, 2022 | -18.66% |
| Jun 30, 2022 | 5.79% |
| Mar 31, 2022 | 4.61% |
| Dec 31, 2021 | 16.29% |
| Sep 30, 2021 | 0.33% |