CVS outpaced analyst expectations for 2021 under the leadership of Karen Lynch, who came aboard as CEO in February. The company reported $292 billion in revenue for the fiscal year ended December 2021—an 8.7% increase year over year. In a quest to revolutionize America’s access to health care, Lynch initiated a plan to transform hundreds of CVS stores into super-clinics that provide primary care—creating what will become the nation’s biggest network of urgent care and primary care outlets. CVS also played a major role in fighting COVID-19, administering over 50 million vaccines and 29 million tests through December 2021. In the fight to retain talent, CVS announced a minimum wage increase to $15 an hour, effective July 2022.
Gabriela Bhaskar—Bloomberg/Getty Images
Company Information
As of 6/5/23
Country/Territory
U.S.
Headquarters
Woonsocket, R.I.
Industry
Health Care: Pharmacy and Other Services
CEO
Karen S. Lynch
Website
Company Type
Public
Ticker
CVS
Revenues ($M)
$322,467
Profits ($M)
$4,149
Market Value ($M)
$95,422
Employees
259,500
Market value as of March 31, 2023.
Key Financials (Last Fiscal Year)As of 8/3/2022
($ Millions)
% change
Revenues ($M)
$292,111
8.7%
Profits ($M)
$7,910
10.2%
Assets ($M)
$232,999
-
Total Stockholder Equity ($M)
$75,075
-
Profit RatiosAs of 8/3/2022
Profit as % of Revenues
2.7%
Profits as % of Assets
3.4%
Profits as % of Stockholder Equity
10.5%
CVS Health Rank History
Historical Data
| Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
|---|---|---|---|---|
| 2021 | $268,7064.6% | $7,1798.2% | $230,715 | $69,389 |
| 2020 | $256,77632% | $6,634 | $222,449 | $63,864 |
| 2019 | $194,5795.3% | $-594-109% | $196,456 | $58,225 |
| 2018 | $184,7654.1% | $6,62224.5% | $95,131 | $37,691 |
| 2017 | $63,1554.7% | $2,271-5% | $69,146 | $17,881 |
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Lists ranking CVS Health
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World's Most Admired Companies - 2023The 25th Fortune World’s Most Admired Companies li...view in list
Latest news for CVS Health
- We are facing ‘a tsunami of people coming into Medicare’: Here’s what that means for America;1:19Fortune Well, Aging well;
- How health care came to dominate the Fortune 500;5:00Digital Features;
- Brainstorm Health 2023 - The Future Of Integrated Care ;19:21Conferences, Brainstorm Health;
- Leadership Next: CVS Health CEO, Karen Lynch;2:07Digital Features;
