Inventory Turnover › Drugstore
Drugstore Inventory Turnover Benchmarks 2026
Major US drugstore chains run roughly 11x to 15x blended inventory turnover. Pharmacy dispensing dominates COGS; front-of-store HBA, snacks, and seasonal categories cycle slower.
Named retailer 10-K data
| Retailer | Fiscal Year | Turnover | COGS | Avg Inventory |
|---|---|---|---|---|
| CVS Health(CVS) | FY25 (ended Dec 2025) | 11.8x | $221.2B | $18.68B |
| Walgreens Boots Alliance(WBA) | FY24 (ended Aug 2024) | 14.6x | $121.1B | $8.29B |
Per-retailer notes
CVS Health (CVS)
11.8x turnoverTurnover uses the cost of products sold line ($221.2B) against merchandise inventory, excluding Health Care Benefits medical costs. Pharmaceutical inventory in PBM and retail combined turn about 12x blended.
Source: CVS Health 10-K, fiscal 2025
Walgreens Boots Alliance (WBA)
14.6x turnoverGlobal retail pharmacy. UK Boots arm carries higher front-of-store mix, slightly reducing blended turnover versus US-only operators. Sycamore Partners took WBA private on 28 Aug 2025 (delisted from Nasdaq), so this fiscal 2024 10-K is the last public filing.
Source: Walgreens Boots Alliance 10-K, fiscal 2024 (last filed before going private)
Pharmacy vs front-of-store split
In a typical US drugstore, pharmacy dispensing accounts for 70-75% of revenue but a much smaller share of square footage and SKU count. The 10-K blended turnover masks two very different inventory engines:
- Rx dispensing. Pharmaceutical inventory turns 25-35x. Daily delivery from McKesson, Cardinal, AmerisourceBergen, plus tight DEA Schedule II controls keep stock weeks low.
- Front-of-store HBA and general merch. Health and beauty, household, seasonal, and snacks turn 6-10x. Higher safety stock for promotional cadence.
Industry reference: NACDS Industry Profile publishes annual operational ratios for the chain pharmacy segment.