CVS Health Q4 FY25: where the revenue came from and where it went
The whole income statement of CVS Health for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Oct 1 – Dec 31, 2025
- Reported
- Feb 10, 2026
Revenue$105.7B
+8% year over year
Gross profit$46.6B
44% margin
Operating profit$2.1B
2% margin
Net profit$2.9B
3% margin
Net profit is larger than what operations earned, because the statement adds $1.6B below it, under Tax benefit.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 105.7 | 100% | +8% |
| Cost of revenue | −59.1 | 56% | |
| Gross profit | 46.6 | 44% margin | +1pp |
| Operating expenses | −44.5 | 42% | +0pp |
| Operating profit | 2.1 | 2% margin | +0pp |
| Interest & other costs | −0.7 | ||
| Tax benefit | 1.6 | ||
| Net profit | 2.9 | 3% margin | +1pp |
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