CVS Health Corp (CVS)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -36,630,000 | -22,599,000 | -16,144,000 | -10,182,000 | -10,768,000 |
| Revenue | US$ in thousands | 357,776,000 | 322,467,000 | 292,111,000 | 268,706,000 | 256,776,000 |
| Gross profit margin | -10.24% | -7.01% | -5.53% | -3.79% | -4.19% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-36,630,000K ÷ $357,776,000K
= -10.24%
The gross profit margin of CVS Health Corp has been relatively stable over the past five years, ranging from 38.19% in 2019 to 39.82% in 2021. In 2023, the gross profit margin increased slightly to 39.32%. This indicates that CVS Health Corp has been able to effectively manage its costs related to producing goods and services while generating revenue. Maintaining a consistent gross profit margin suggests operational efficiency and effective pricing strategies. Overall, the company's gross profit margin performance reflects a healthy balance between sales revenue and cost of goods sold.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
CVS Health Corp
CVS
-10.24%
Walgreens Boots Alliance Inc
WBA
17.75%