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Healthcare & Medical

CVS Pharmacy

CVS Health Corporation · Public · All CVS Health brands

NYSE: CVS$85.25+1.7%close Nov. 9, 2026
Credit ratingBBB Investment grade
Fitch BBBMoody’s Baa3S&P BBB
AAAAAABBBBBBCCCD
Investment gradeHigh yield

Fitch, as of June 30, 2026 · Outlook negative. Source: CVS Health Form 10-Q (June 30, 2026)

Founded1963Source: Wikidata
EmployeesNot verifiedNo verified source
Locations9,000Dec. 2025; source: CVS Form 10-K, fiscal year ended 2025-12-31
HeadquartersWoonsocket, Rhode IslandHealthcare & Medical

New Initiatives

How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.

CVS Health operates CVS Pharmacy retail stores alongside its Aetna insurance and Caremark pharmacy benefit businesses. After several years of net closures, the company expects to open more stores than it closes in 2026.

Store count

9,000 as of Dec. 31, 2025
0.0% 1-year change vs. prior fiscal year
  1. 9,6552015
  2. 9,7002016
  3. 9,8002017
  4. 9,9002018
  5. 9,9002019
  6. 9,9002020
  7. 9,9002021
  8. 9,0002022
  9. 9,0002023
  10. 9,0002024
  11. 9,0002025

Retail pharmacy locations; 2016 onward as stated, rounded. Counts as reported at each period end; some figures are approximate as stated by the source. Sources: CVS Form 10-K, fiscal year ended 2022-12-31; CVS Form 10-K, fiscal year ended 2023-12-31; CVS Form 10-K, fiscal year ended 2024-12-31; CVS Form 10-K, fiscal year ended 2025-12-31 and 7 earlier sources.

What’s changing

  1. Expansion

    CVS plans 20 smaller pharmacy-only stores. Source: Supermarket News

SEC Filings

Annual reports filed by CVS Health Corporation. All filings on EDGAR

PeriodFormFiledDocument
Fiscal year ended Dec. 31, 202510-KFeb. 10, 2026View on sec.gov
Fiscal year ended Dec. 31, 202410-KFeb. 12, 2025View on sec.gov
Fiscal year ended Dec. 31, 202310-KFeb. 7, 2024View on sec.gov
Fiscal year ended Dec. 31, 202210-KFeb. 8, 2023View on sec.gov
Latest quarter, period ended Sept. 30, 202610-QNov. 4, 2026View on sec.gov

Credit ratings

AgencyRatingOutlookAs ofSource
FitchBBBNegativeJune 30, 2026CVS Health Form 10-Q (June 30, 2026)
Moody’sBaa3StableJune 30, 2026CVS Health Form 10-Q (June 30, 2026)
S&P GlobalBBBJune 30, 2026; outlook revised from negative in May 2026CVS Health Form 10-Q (June 30, 2026)

Bond market context

Issuer bond yieldUnavailable. No free, licensed source for individual bond yields.
BBB index effective yield5.95% (Nov. 6, 2026; ICE BofA BBB US Corporate Index)
BBB index spread (OAS)116 bps over Treasuries; 104 bps a year earlier (FRED)
10-year Treasury4.88% (Nov. 9, 2026)

The index row shows the yield on BBB-rated U.S. corporate bonds as a group, the closest free benchmark for this rating category. It is not the yield on this company’s own bonds.

Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.

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