CVS Health Corp. reported record FY2025 total revenues of $402.067B. Net income attributable to CVS Health was $1.768B, and the company employed over 300,000 colleagues as of December 31, 2025.
How CVS Health Makes Money
CVS Health earns revenue through CVS Pharmacy, CVS Caremark pharmacy benefit management, Aetna health insurance, specialty pharmacy, and care delivery assets. The model is vertically integrated, which gives CVS scale and data but also creates operational and regulatory complexity.
Strategy
Under David Joyner, CVS is focused on restoring Aetna performance, improving pharmacy reimbursement, retaining Caremark clients, and proving that integrated health care can produce better outcomes and margins.
