Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $178B | $185B | $195B | $257B | $269B | $292B | $322B | $358B | $373B | $402B |
| Revenue growth | — | 4.1% | 5.3% | 32.0% | 4.6% | 8.7% | 10.4% | 10.9% | 4.2% | 7.8% |
| Gross profit | $28.9B | $28.5B | — | — | — | — | — | — | — | — |
| Gross margin | 16.3% | 15.4% | — | — | — | — | — | — | — | — |
| Operating income | $10.4B | $9.54B | $4.02B | $12.0B | $13.9B | $13.3B | $7.95B | $13.7B | $8.52B | $4.66B |
| Operating margin | 5.8% | 5.2% | 2.1% | 4.7% | 5.2% | 4.6% | 2.5% | 3.8% | 2.3% | 1.2% |
| Net income | $5.32B | $6.62B | -$594M | $6.63B | $7.18B | $8.00B | $4.31B | $8.34B | $4.61B | $1.77B |
| Net margin | 3.0% | 3.6% | -0.3% | 2.6% | 2.7% | 2.7% | 1.3% | 2.3% | 1.2% | 0.4% |
| EPS (diluted) | $4.90 | $6.44 | -$0.57 | $5.08 | $5.46 | $6.02 | $3.26 | $6.47 | $3.66 | $1.39 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.1B | $8.01B | $8.87B | $12.8B | $15.9B | $18.3B | $16.2B | $13.4B | $9.11B | $10.6B |
| Capital expenditures | $2.22B | $1.92B | $2.04B | $2.46B | $2.44B | $2.52B | $2.73B | $3.03B | $2.78B | $2.83B |
| Free cash flow | $7.92B | $6.09B | $6.83B | $10.4B | $13.4B | $15.7B | $13.4B | $10.4B | $6.33B | $7.81B |
| Share buybacks | $4.46B | $4.36B | $0.00 | $0.00 | $0.00 | $0.00 | $3.50B | $2.01B | $3.02B | $0.00 |
| Dividends paid | $1.84B | $2.05B | $2.04B | $2.60B | $2.62B | $2.63B | $2.91B | $3.13B | $3.37B | $3.40B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $3.37B | $1.70B | $4.06B | $5.68B | $7.85B | $9.41B | $12.9B | $8.20B | $8.59B | $8.45B |
| Total assets | $94.5B | $95.1B | $196B | $222B | $231B | $233B | $228B | $250B | $253B | $254B |
| Total liabilities | — | $57.4B | $138B | $158B | $161B | $158B | $157B | $173B | $177B | $178B |
| Long-term debt | $25.6B | $22.2B | $71.4B | $71.3B | — | — | — | — | — | — |
| Shareholders' equity | $36.8B | $37.7B | $58.2B | $63.9B | $69.4B | $75.1B | $71.5B | $76.5B | $75.6B | $75.2B |
| Retained earnings | $39.0B | $43.6B | $40.9B | $45.1B | $49.6B | $54.9B | $56.4B | $61.6B | $62.8B | $61.2B |
| Shares (wtd avg diluted) | 1.08B | 1.02B | 1.04B | 1.30B | 1.31B | 1.33B | 1.32B | 1.29B | 1.26B | 1.27B |
Every figure is extracted from CVS HEALTH Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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