CVS Health
American integrated healthcare company operating CVS Pharmacy, Aetna health insurance, CVS Caremark pharmacy benefits management, and MinuteClinic, publicly traded on the NYSE.
Company Type
public
Founded
1963
Headquarters
Woonsocket, Rhode Island, USA
Stock
NYSE: CVS
Revenue
$402.1 billion (FY2025)
Employees
Approximately 300,000
Primary Market
United States
science based targets
About CVS Health
Who owns CVS Health?
CVS Health is an independent publicly traded company with no parent company. The company trades on the NYSE under CVS and is owned by institutional investors and individual shareholders.
CVS Health is an independent publicly traded company with no parent company. The company trades on the NYSE under CVS and is owned by institutional investors and individual shareholders.
What are CVS Health's main business segments?
CVS Health operates through three segments: Health Care Benefits (Aetna health insurance), Pharmacy Services (CVS Caremark pharmacy benefits management), and Retail and Long Term Care (CVS Pharmacy stores, MinuteClinic, Oak Street Health, and Omnicare).
CVS Health operates through three segments: Health Care Benefits (Aetna health insurance), Pharmacy Services (CVS Caremark pharmacy benefits management), and Retail and Long Term Care (CVS Pharmacy stores, MinuteClinic, Oak Street Health, and Omnicare).
What were CVS Health's FY2025 financial results?
CVS Health reported record FY2025 revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75, up from $5.42 in the prior year. Q4 2025 revenue was $105.7 billion, up 8.2%, with adjusted EPS of $1.09 beating analyst expectations.
CVS Health reported record FY2025 revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75, up from $5.42 in the prior year. Q4 2025 revenue was $105.7 billion, up 8.2%, with adjusted EPS of $1.09 beating analyst expectations.
Who is CVS Health's CEO?
David Joyner serves as CEO of CVS Health, having been appointed in late 2024 to lead a turnaround of the company following significant underperformance in 2024.
David Joyner serves as CEO of CVS Health, having been appointed in late 2024 to lead a turnaround of the company following significant underperformance in 2024.
When did CVS acquire Aetna?
CVS Health acquired Aetna in 2018 for approximately $69 billion, transforming CVS from a pharmacy and PBM company into a fully integrated healthcare organization combining retail pharmacy, pharmacy benefits management, and health insurance.
CVS Health acquired Aetna in 2018 for approximately $69 billion, transforming CVS from a pharmacy and PBM company into a fully integrated healthcare organization combining retail pharmacy, pharmacy benefits management, and health insurance.
How many CVS Pharmacy locations are there?
CVS Health operates nearly 10,000 CVS Pharmacy locations across all 50 states in the United States.
CVS Health operates nearly 10,000 CVS Pharmacy locations across all 50 states in the United States.
History of CVS Health
Stanley and Sidney Goldstein and Ralph Hoagland founded the first Consumer Value Store (CVS) in Lowell, Massachusetts in 1963, initially focused on health and beauty products. CVS opened its first pharmacy departments in 1967. The company was acquired by Melville Corporation in 1969 and became an independent public company again in 1996 when it was spun off.
CVS expanded through major acquisitions: Revco drugstores (1997), Caremark Rx (2007, creating CVS Caremark and adding pharmacy benefits management), and Aetna (2018, $69 billion), which added health insurance and transformed CVS into a fully integrated healthcare company. The company changed its name from CVS Caremark to CVS Health in 2014 to reflect its broader healthcare focus.
In 2023, CVS acquired Oak Street Health, a primary care provider for Medicare patients, for approximately $10.6 billion. CVS also acquired Signify Health, a home health and analytics company, in 2023 for approximately $8 billion.
CVS faced significant financial challenges in 2024, primarily driven by higher-than-expected medical costs in its Aetna Medicare Advantage business. The company replaced its CEO in late 2024, appointing David Joyner to lead a turnaround. The turnaround showed progress in 2025, with FY2025 revenue reaching a record $402.1 billion and adjusted EPS of $6.75, up from $5.42 in the prior year.
CVS Health Sustainability & Ethics
CVS Health has implemented comprehensive sustainability initiatives focused on environmental responsibility, ethical healthcare practices, and community engagement. The company has committed to ambitious climate goals while maintaining its position as a leader in integrated healthcare services.
The company has established environmental sustainability programs focusing on energy efficiency in stores and distribution centers, waste reduction initiatives, and sustainable product sourcing. CVS Health has set goals to reduce carbon emissions and increase renewable energy usage across its global pharmacy and healthcare operations.
CVS Health addresses ethical considerations through responsible pharmacy practices, medication safety programs, and healthcare accessibility initiatives. The company maintains comprehensive compliance programs for pharmaceutical distribution, pharmacy operations, and health insurance services, ensuring adherence to regulatory standards and ethical business practices.
The company has strong community engagement programs, including the CVS Health Foundation which supports health education, community wellness initiatives, and disaster relief efforts. CVS Health employees participate in community health programs and volunteer activities, supporting public health initiatives in communities where the company operates.
Awards & Recognition
CVS Health has received recognition for healthcare innovation, workplace practices, and corporate responsibility:
- **Fortune 500 Most Admired Companies (2024 and 2025):** Recognition as one of the world's most admired companies in healthcare
- **Great Place to Work Certification (2024 and 2025):** Recognition for workplace culture and employee satisfaction across multiple regions
- **Healthcare Innovation Awards (2023):** Recognition for digital health services and pharmacy innovation
- **Environmental Leadership Awards (2024):** Recognition for sustainability initiatives and environmental programs
- **Community Service Awards (Multiple years):** Recognition for community health initiatives and employee volunteer programs
- **Retail Excellence Awards (2023):** Recognition for pharmacy retail innovation and customer service
- **Supply Chain Excellence Awards (2023):** Recognition for pharmaceutical distribution and supply chain management
- **Safety Awards (2024):** Recognition for workplace safety and employee well-being programs
Controversy, Regulation & Public Scrutiny
CVS Health has faced several controversies and regulatory challenges throughout 2025, primarily related to drug pricing, pharmacy practices, and regulatory compliance. The company has maintained comprehensive compliance programs while addressing various regulatory and public scrutiny issues.
CVS Health has experienced product recalls affecting various pharmaceutical and over-the-counter products, working closely with regulatory agencies like the FDA to ensure consumer safety. The company maintains rigorous quality control programs and implements voluntary recall procedures when issues arise across its pharmacy network.
The company has faced extensive scrutiny regarding drug pricing practices and pharmacy benefit management relationships. CVS Caremark has been involved in discussions and regulatory proceedings regarding prescription drug pricing transparency and reimbursement rates, with the Federal Trade Commission launching an investigation into PBM practices in 2022.
CVS Health has been involved in controversies related to pharmacy closures and access to healthcare services, particularly concerning pharmacy closures in underserved communities and rural areas. The company has faced criticism regarding the impact of pharmacy closures on healthcare accessibility.
The company has faced criticism regarding its Medicare Advantage business practices and pricing strategies, particularly concerning cost-sharing requirements and network adequacy. CVS Health has implemented program improvements and compliance measures to address these concerns.
CVS Health has also faced scrutiny regarding its integrated healthcare model and potential conflicts of interest between its pharmacy, PBM, and insurance businesses, particularly concerning how these segments interact and impact healthcare costs and accessibility.
CVS Health's Aetna Medicare Advantage business experienced significant losses in 2024 due to higher-than-expected medical costs, which drove a sharp decline in the company's stock and led to the CEO change in late 2024. The Medicare Advantage industry broadly faced higher medical cost ratios in 2024 as patients utilized more healthcare services following the COVID-19 pandemic.
CVS Caremark and other pharmacy benefits managers have faced regulatory and legislative scrutiny over their role in drug pricing, with critics arguing that PBMs contribute to higher drug costs for consumers. The Federal Trade Commission launched an investigation into PBM practices in 2022. CVS has also faced scrutiny over pharmacy closures in underserved communities.
Brands Owned by CVS Health
View all 7 brandsCVS Health owns 7 brands in our database. Showing featured brands below.
Aetna
Owned by CVS Health
American health insurance company founded in 1853, owned by CVS Health since 2018, providing medical, dental, pharmacy, and Medicare coverage to millions of members across the United States.
health-insurancemedical-coveragedental
Caremark
Owned by CVS Health
American pharmacy benefits management company and one of the largest PBMs in the United States, owned by CVS Health.
pharmacy-benefitspbmhealthcare
CVS Pharmacy
Owned by CVS Health
American pharmacy retail chain and one of the largest pharmacy networks in the United States, owned by CVS Health.
pharmacyretailhealthcare
Longs Drugs
Owned by CVS Health
American pharmacy retail chain operating primarily in Hawaii and the western United States, owned by CVS Health.
pharmacyretailhealthcare
MinuteClinic
Owned by CVS Health
American retail healthcare clinic chain providing urgent care and preventive health services, owned by CVS Health.
urgent-careretail-clinichealthcare
Navarro Discount Pharmacies
Owned by CVS Health
American pharmacy retail chain serving Hispanic and Latino communities, owned by CVS Health.
pharmacyretailhealthcare
Shop CVS Health Brands
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Stock Information
CVS Health Ownership: Pros & Cons
Advantages
- +Record FY2025 revenue of $402.1 billion, up 7.8% year over year
- +Q4 2025 adjusted EPS of $1.09 beat analyst expectations of $0.99
- +Turnaround under CEO David Joyner showing measurable progress; stock up approximately 40% over prior year
- +Integrated model combining pharmacy, PBM, and insurance creates coordination advantages
- +Nearly 10,000 CVS Pharmacy locations provide unmatched physical healthcare access
- +Caremark completed cost-based reimbursement transition with strong customer wins in 2025
Considerations
- -2026 guidance includes approximately $20 billion in headwinds from ACA market exit and drug price adjustments
- -Aetna Medicare Advantage business requires continued margin recovery
- -Regulatory scrutiny of pharmacy benefits managers from FTC and Congress
- -High debt load from Aetna, Oak Street Health, and Signify Health acquisitions
- -Competition from UnitedHealth Group's Optum, which has a similar integrated model at larger scale
Frequently Asked Questions About CVS Health
Who owns CVS Health?
CVS Health is an independent publicly traded company with no parent company. The company trades on the NYSE under CVS and is owned by institutional investors and individual shareholders.
What are CVS Health's main business segments?
CVS Health operates through three segments: Health Care Benefits (Aetna health insurance), Pharmacy Services (CVS Caremark pharmacy benefits management), and Retail and Long Term Care (CVS Pharmacy stores, MinuteClinic, Oak Street Health, and Omnicare).
What were CVS Health's FY2025 financial results?
CVS Health reported record FY2025 revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75, up from $5.42 in the prior year. Q4 2025 revenue was $105.7 billion, up 8.2%, with adjusted EPS of $1.09 beating analyst expectations.
Who is CVS Health's CEO?
David Joyner serves as CEO of CVS Health, having been appointed in late 2024 to lead a turnaround of the company following significant underperformance in 2024.
When did CVS acquire Aetna?
CVS Health acquired Aetna in 2018 for approximately $69 billion, transforming CVS from a pharmacy and PBM company into a fully integrated healthcare organization combining retail pharmacy, pharmacy benefits management, and health insurance.
How many CVS Pharmacy locations are there?
CVS Health operates nearly 10,000 CVS Pharmacy locations across all 50 states in the United States.
Sources & Further Reading
Jobs at CVS Health
Latest News About CVS Health
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