CVS Health revenue 2005-2023

In the year 2023, the CVS Health Corporation generated approximately 357.8 billion U.S. dollars of revenue in total, an increase compared to the previous years. This value is the highest ever registered in the considered time frame. The fiscal year end of the company is December 31st, 2023.

CVS’ history and facts

The CVS Health Corporation is a healthcare company, with three major segments: CVS Pharmacy, Caremark Pharmacy Services, and MinuteClinic. It was founded in Lowell, Massachusetts, in 1963 by Stanley and Sidney Goldstein and is currently headquartered in Woonsocket, Rhode Island.

The name CVS stands for “Consumer Value Stores”, but in the past, the company name went through a few changes. In fact, it was first called CVS Corporation, which was then changed to CVS Caremark Corporation and finally to CVS Health Corporation.

Throughout the decades, CVS kept expanding in the United States and as of 2020, it was one of the leading drug stores accounting for the most outlets in the North American country. Since the year 2005, the number of CVS stores increased notably and at the end of 2020, the company owned about 9,962 stores.

As of 2021, the company also started administering COVID-19 tests and vaccines in about 10,000 CVS Pharmacy locations.

CVS’ success

As of the year 2022, CVS Health’s total assets amounted to approximately 228 billion U.S. dollars: this value has seen an increasing trend since 2005, which is proof of the company's consistently rising success. Moreover, according to forecasts, the company’s revenue is expected to reach around 270.63 billion U.S. dollars in 2025.

In the first quarter of 2022, CVS Health also turned out to be very appreciated by its customers: survey results show that, in that period, it was the leading drug store with the highest consumer loyalty score in the United States.