| Stage | CVS | % of rev | GRDN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $108B | 100.00% | $371M | 100.00% | CVS ×292.13 |
| Gross profit | $47.2B | 43.56% | $85M | 22.97% | CVS +20.6pp |
| Operating income | $3.6B | 3.29% | $25M | 6.75% | GRDN +3.5pp |
| Pre-tax income | $2.8B | 2.63% | $26M | 7.00% | GRDN +4.4pp |
| Net income | $2.2B | 2.00% | $19M | 5.15% | GRDN +3.1pp |
| Stage | CVS | GRDN | Gap · A − B |
|---|---|---|---|
| Revenue | $108B100.00% | $371M100.00% | CVS ×292.13 |
| Gross profit | 43.56%$47.2B | 22.97%$85M | CVS +20.6pp |
| Operating income | 3.29%$3.6B | 6.75%$25M | GRDN +3.5pp |
| Pre-tax income | 2.63%$2.8B | 7.00%$26M | GRDN +4.4pp |
| Net income |
| 2.00%$2.2B |
| 5.15%$19M |
| GRDN +3.1pp |
CVS · MCK 10-KMay 9 '25
“Sales to our largest customer, CVS Health Corporation ("CVS"), accounted for approximately 24% of our total consolidated revenues in fiscal 2025 and comprised approximately 23% of total trade accounts receivable at March 31, 2025.”
GRDN 10-KMar 11 '26
“Our primary wholesale distributor relationships currently include Cardinal Health, Inc., McKesson Corporation, Smith Drug Company, and Morris and Dickson Co. L.L.C., in addition to various generic drug manufacturers.”
CVS · CAH 10-KAug 12 '25
“Our largest customer, CVS Health, accounted for 30 percent of our fiscal 2025 revenue.”
GRDN 10-KMar 11 '26
“Our primary wholesale distributor relationships currently include Cardinal Health, Inc., McKesson Corporation, Smith Drug Company, and Morris and Dickson Co. L.L.C., in addition to various generic drug manufacturers.”