• CVS Health average gross margin for 2023 was 39.05%, a 0.84% increase from 2022.
• CVS Health average gross margin for 2022 was 39.38%, a 0.66% decline from 2021.
• CVS Health average gross margin for 2021 was 39.64%, a 3.04% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.