CVS Health (CVS) Earnings Reflect Turnaround: Revenue Up 8% in 2025, EPS to $6.75

CVS Health (CVS) delivered strong results reflecting operational momentum: full-year 2025 revenue reached $399.5 billion, up 8.2% year over year, and adjusted EPS rose to $6.75 from $5.42 in 2024. Q4 revenue hit $105.7 billion, with growth across insurance, pharmacy services, and retail pharmacies, including a 19.9% increase in retail pharmacy volumes. Operating cash flow totaled over $10 billion for the year. Challenges in Aetna insurance persisted, with medical cost trends higher than prior periods but adjusted operating income improving by $2.9 billion through better risk pricing and compensation. Seasonal and regulatory factors keep quarterly performance choppy, but the broader turnaround underscores disciplined execution and the resilience of CVS’s vertically integrated model.