Cvs Health's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Cvs Health (CVS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Cvs Health vs Its Competitors
- TTM: Trailing 12-month revenue of 415,086M vs 2,086,145M combined for its competitors (16.6% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+2.2% annualized vs trailing 12 months), vs accelerating (+2.2%) for its tracked peer group.
- Growth: Cvs Health generated 7.3% revenue growth year over year in Q2 2026, vs 6.2% for its competitors combined.
- Profitability: Its 2.8% net margin compares with 3.0% for the peer group.
- Scale: Cvs Health ranks #2 of 15 companies by market capitalization in the Pharmacy Services & Retail Drugstore industry, holding 29.3% of industry market cap.
- Peer revenue share: Cvs Health accounted for 16.6% of combined revenue among its tracked peer group, up from 16.5% a year earlier.
- Peer differentiation: Revenue per employee of $1.38M compares with $0.74M for the peer group (1.9x).
- Structure: Cvs Health operates in the following segments: Health Services, Health Care Benefits, Pharmacy and Consumer Health, Corporate and Other.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CVS Sales vs. its Competitors, Q2 2026
Cvs Health reported revenue growth of 7.26 % year on year in Q2 2026, above its competitors' combined revenue growth of 6.21 %.
With a net margin of 2.82 %, Cvs Health reported lower profitability than its competitors (2.96 %).
Cvs Health generated 16.59 % of the combined sales of its peer group, up from 16.46 % a year earlier.
API endpoints for this dataset
Cvs Health vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Cvs Health reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Cvs Health and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Cvs Health Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (11) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Cvs Health's competitor groups requires a Commercial License.
For context: the Pharmacy Services & Retail Drugstore industry grew revenue 6.7% year over year, combined, vs 7.3% for Cvs Health. Cvs Health's share of combined industry revenue moved from 24.56% to 24.70%, a gain of 0.14 percentage points.
Cvs Health's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Cvs Health Corporation | Yes | Yes | Yes | No |
| Competitors combined (19) | ||||
| High-Confidence Competitors (19) | ||||
| Similar-Size Competitors (6) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 87.50 % (7 of 8) | 75.00 % (6 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
CVS Stock Performance relative to its Competitors
CVS Stock Performance relative to High-Confidence Competitors
CVS Stock Performance relative to Similar-Size Competitors
CVS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | China Jo Jo Drugstores Holdings Inc | 282.9% | Outperformed |
| 2 | Agilon Health Inc | 282.9% | Outperformed |
| 3 | Target Corporation | 282.9% | Outperformed |
| 4 | Humana Inc | 282.9% | Outperformed |
| 5 | Molina Healthcare Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Cvs Health's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Cvs Health's Comment on Competition and Industry Peers
Publicly Traded Peers of Cvs Health Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Cvs Health Corporation |
107,914.95 | 415,086.00 |
 Walmart Inc |
1,001,398.56 | 735,840.00 |
 Unitedhealth Group Incorporated |
355,523.30 | 449,662.00 |
 Mckesson Corporation |
126,452.13 | 410,983.00 |
 The Cigna Group |
77,496.60 | 282,382.00 |
 Target Corporation |
72,203.28 | 106,377.00 |
| SUBTOTAL | 1,890,379.54 | 3,013,955.59 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Cvs Health Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Cvs Health's Competitors Named by the Company
Competitive relationships identified from Cvs Health reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Option Care Health Inc | Company report | 85% |
| Molina Healthcare Inc | Company report | 85% |
| Sharing Services Global Corporation | Company report | 85% |
| Rite Aid | Company report | 85% |
| PharMerica | Company report | 85% |
| Walmart | Company report | 85% |
| Brightspring Health Services Inc | Company report | 85% |
| The Cigna Group | Company report | 85% |
| Arko Corp | Company report | 85% |
| Accendra Health inc | Company report | 85% |
| Dollar General Corp | Company report | 85% |
| Caremax Inc | Company report | 85% |
| Goodrx Holdings Inc | Company report | 85% |
| OMI | Company report | 85% |
| Wex Inc | Company report | 85% |
| Uphealth Inc | Company report | 85% |
| Prime Therapeutics | Company report | 85% |
| MedImpact | Company report | 85% |
| Walgreens | Company report | 85% |
| Sanofi | Company report | 85% |
| Amazon | Company report | 85% |
| UnitedHealth | Company report | 85% |
| Neuehealth Inc | Company report | 85% |
| Evolent Health Inc | Company report | 85% |
| Target Corporation | Company report | 85% |
| Adapthealth Corp | Company report | 85% |
| Exp Oldco Winddown Inc | Company report | 85% |
| Cano Health Inc | Company report | 85% |
| Humana Inc | Company report | 85% |
| Cardinal Health Inc | Company report | 85% |
| Mckesson Corporation | Company report | 85% |
| Agilon Health Inc | Company report | 85% |
| Veradigm Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Cvs Health's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Cvs Health's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Cvs Health Corporation | Health Services 48.03 % |
| Walmart Inc | Walmart US 66.44 % |
| Unitedhealth Group Incorporated | UnitedHealthcare 76.61 % |
| Mckesson Corporation | North American Pharmaceutical 82.34 % |
| The Cigna Group | Evernorth 86.55 % |
| Cardinal Health Inc | Pharmaceutical and Specialty Solutions 92.08 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Cvs Health's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Cvs Health Corporation | 107,915 | 1,383,620 | 16,283 |
| Walmart Inc | 1,001,399 | 350,400 | 10,714 |
| Unitedhealth Group Incorporated | 355,523 | 1,152,979 | 42,254 |
| Mckesson Corporation | 126,452 | 8,058,490 | 103,922 |
| The Cigna Group | 77,497 | 4,171,078 | 102,555 |
| Target Corporation | 72,203 | 256,330 | 8,313 |
| PEERS TOTAL | 1,782,465 | 740,266 | 13,883 |
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Cvs Health's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Cardinal Health Inc | United States 99.35 % |
| Adma Biologics Inc | US 99.78 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Cvs Health's Position in Industry Market Structure
Market-capitalization share and concentration across all 13 companies in Cvs Health's industry classification, broader than the peer set above. Market cap in millions of $.Cvs Health ranks #2 of 13 companies by market capitalization in its industry, holding 29.30 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,650, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Mckesson Corporation | 126,452 | 34.34 % |
| 2 | Cvs Health Corporation | 107,915 | 29.30 % |
| 3 | Cencora Inc | 64,692 | 17.57 % |
| 4 | Cardinal Health Inc | 64,126 | 17.41 % |
| 5 | Guardian Pharmacy Services Inc | 1,234 | 5.2% |
| 6 | Herbalife Ltd | 1,234 | 5.2% |
| 7 | 111 Inc | 1,234 | 5.2% |
| 8 | Nu Skin Enterprises Inc | 1,234 | 5.2% |
| 9 | Petmed Express Inc | 1,234 | 5.2% |
| 10 | Zerostack Corp | 1,234 | 5.2% |
Market cap and industry share for the rest of Cvs Health's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Cvs Health's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Mckesson Corporation | 126,452 | 25.49 % |
| 2 | Cvs Health Corporation | 107,915 | 6.03 % |
| 3 | Cencora Inc | 64,692 | -4.95 % |
| 4 | Cardinal Health Inc | 1,234 | 12.3% |
| 5 | Guardian Pharmacy Services Inc | 1,234 | 12.3% |
| 6 | Herbalife Ltd | 1,234 | 12.3% |
| 7 | 111 Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Cvs Health's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Cvs Health's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Pharmacy Services & Retail Drugstore industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (34 companies). See the full Pharmacy Services & Retail Drugstore industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 21.74 % | 23.46 % (avg) | -1.7 pp |
| Operating Margin | 2.00 % | industry median | +1.3 pp |
| EBITDA Margin | 3.40 % | -1.08 % (avg) | +4.5 pp |
| Capital Intensity (Capex / Revenue) | 0.73 % | 2.47 % (avg) | -1.7 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Cvs Health's Valuation vs Competitive Position
Valuation multiples vs the Pharmacy Services & Retail Drugstore industry average (34 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Pharmacy Services & Retail Drugstore industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 23.5x | 24.4x | -0.9x |
| EV / EBITDA | 12.0x | 12.5x | -0.5x |
| P/B | 1.5x | 3.5x | -2.0x |
| Return on Equity | 6.39 % | industry aggregate | -7.05 % |
| Return on Invested Capital | 3.31 % | 10.39 % (avg) | -7.08 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Cvs Health's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 5.31 % | 31.96 % | 4.65 % | 8.71 % | 10.39 % | 10.95 % | 4.20 % | 7.85 % |
| Operating Margin | 2.07 % | 4.67 % | 5.18 % | 4.52 % | 2.40 % | 3.84 % | 2.28 % | 1.16 % |
| Return on Invested Capital | 2.55 % | 5.10 % | 5.49 % | 5.15 % | 3.16 % | 5.44 % | 3.37 % | 1.87 % |
| P/E | - | 14.4x | 12.8x | 16.6x | 30.5x | 11.0x | 15.3x | 56.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Cvs Health's Strategic Group Map
Cvs Health is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Cvs Health's trailing-12-month revenue growth of 7.4% and operating margin of 2.0% compares with an average of 5.4% growth and 2.7% margin across its 8 closest peers by combined growth, margin and ROIC -- Cvs Health sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Cvs Health's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Cvs Health falls in the Dog quadrant: relative market share of 0.85x vs its largest competitor, in an industry growing revenue 2.5% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Cvs Health's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 2,650 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.73 % vs industry average 2.47 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Cvs Health's dedicated Suppliers and Customers pages, not here.
Cvs Health's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Cvs Health falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Cvs Health's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+2.2% annualized vs trailing 12 months).
Weaknesses
- Return on equity 7.1 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Cvs Health's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Cvs Health Corporation | 0.11 | 0.85 | 0.83 |
| Walmart Inc | 0.10 | 0.78 | 0.38 |
| Unitedhealth Group Incorporated | 0.23 | 0.81 | 0.73 |
| Mckesson Corporation | 0.07 | 0.88 | - |
| The Cigna Group | 0.12 | 0.82 | 0.76 |
| Target Corporation | 0.21 | 0.96 | 1.02 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Cvs Health's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Cvs Health Corporation | Q2 2026 | +7.3 % | +195.7 % |
| Walmart Inc | Q2 2026 | +5.9 % | -8.7 % |
| Unitedhealth Group Incorporated | Q3 2026 | -0.4 % | +61.6 % |
| Mckesson Corporation | Q2 2026 | +7.7 % | +24.2 % |
| The Cigna Group | Q2 2026 | +6.7 % | +22.4 % |
| Target Corporation | Q1 2026 | +6.7 % | -24.6 % |
| PEERS TOTAL | +6.7 % | +17.9 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Cvs Health's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Cvs Health Corporation | Q2 2026 | +9.0 % | +13.8 % |
| Walmart Inc | Q2 2026 | +4.5 % | +16.7 % |
| Unitedhealth Group Incorporated | Q3 2026 | +9.1 % | -3.5 % |
| Mckesson Corporation | Q2 2026 | +7.6 % | -19.6 % |
| The Cigna Group | Q2 2026 | +6.4 % | - |
| Target Corporation | Q1 2026 | +5.4 % | +31.0 % |
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Cvs Health's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Cvs Health Corporation | 1.92% | 2.81% | 6.39% |
| Walmart Inc | 7.78% | 13.37% | 21.78% |
| Unitedhealth Group Incorporated | 5.30% | 8.29% | 15.97% |
| Mckesson Corporation | 6.43% | 35.05% | - |
| The Cigna Group | 4.44% | 6.84% | 16.41% |
| Target Corporation | 5.86% | 9.45% | 21.74% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Cvs Health's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Cvs Health Corporation | 22.07 | 0.26 |
| Walmart Inc | 45.64 | 1.36 |
| Unitedhealth Group Incorporated | 22.81 | 0.79 |
| Mckesson Corporation | 28.51 | 0.31 |
| The Cigna Group | 12.45 | 0.27 |
| Target Corporation | 20.93 | 0.68 |
| PEERS AVERAGE | 35.25 | 0.63 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.