CVS CVS Health margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 40

Gross margin

14.2%

Operating margin

EBITDA margin

1.6%

Net margin

1.2%

At present, CVS Health reports a gross margin of 14.2%, an operating margin of 2%, an EBITDA margin of 1.6%, and a net margin of 1.2%. The strongest positive change was in gross margin, higher by 0.4 percentage points. The strongest negative change was in operating margin, lower by 0.3 percentage points.

CVS margin history

Gross, operating, EBITDA and net margin trends

CVS Health's margins averaged 14.33% gross, 2.53% operating, 2.54% EBITDA, and 1.37% net over the last 3 years. At present, all four current margins are below their three-year averages.

CVS margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in gross margin, up 0.4 percentage points. The expansion was limited to gross margin, while operating margin contracted by 0.3 percentage points and EBITDA margin by 0.3 percentage points.

Gross margin expansion

0.4pp

Operating margin expansion

-0.3pp

EBITDA margin expansion

-0.3pp

Net margin expansion

0pp

CVS Gross margin

Looking at the last 3 years, CVS Health had an average gross margin of 14.33%. CVS Health currently reports a gross margin of 14.2%, 0.1 percentage points below its three-year average. Looking back over the last 3 years, CVS Health's gross margin reached 15.6% at its highest point in Sep 2023 and 13.8% at its lowest in Dec 2024.

CVS Operating margin

The average operating margin for CVS Health was 2.53% in the last 3 years. Currently, the current operating margin for CVS Health is 2%, 0.5 percentage points below its three-year average. The operating margin for CVS Health moved between 1.2% in Sep 2025 and 4% in Sep 2023.

CVS EBITDA margin

CVS Health recorded an average EBITDA margin of 2.54% across the last 3 years. CVS Health currently reports an EBITDA margin of 1.6%, 0.9 percentage points below its three-year average. Over the last 3 years, CVS Health's EBITDA margin peaked at 5.3% in Sep 2023 and reached a low of 0.9% in Sep 2025.

CVS Net margin

CVS Health recorded an average net margin of 1.37% across the last 3 years. At present, the current net margin for CVS Health is 1.2%, 0.2 percentage points below its three-year average. The net margin for CVS Health moved between 0.1% in Sep 2025 and 2.5% in Sep 2023.

CVS margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 14.2%, CVS stands above the industry average but below the Healthcare sector average. In comparison with its Healthcare sector average of 68.5%, CVS Health's gross margin is 79% lower.

CVS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is CVS Health's gross margin?

The current gross margin for CVS is 14.2% as of Jun 30, 2026.

What is CVS Health's operating margin?

As of Jun 30, 2026, CVS has an operating margin of 2%.

What is CVS Health's EBITDA margin?

The current EBITDA margin for CVS is 1.6% as of Jun 30, 2026.

What is CVS Health's net margin?

The current net margin for CVS is 1.2% as of Jun 30, 2026.

What are the average margins of CVS?

Across the last 3 years, CVS averaged 14.3% gross, 2.5% operating, 2.5% EBITDA, and 1.4% net.

What are the highest historical margins of CVS?

Across the 5-year period, CVS posted its highest margins at 17.8% gross in Dec 2021, 4.7% operating in Sep 2021, 6% EBITDA in Dec 2021, and 2.7% net in Jun 2022.

What are the lowest historical margins of CVS?

Over the last 5 years, CVS Health's lowest margins were 13.8% gross in Dec 2024, 1.2% operating in Sep 2025, 0.9% EBITDA in Sep 2025, and 0.1% net in Sep 2025.