Company file · CI

Cigna

Cigna's revenue rose 11.2% in FY2025, to $274.9B, and net income rose 73.5% to $6.0B

Revenue rose 11.2% to $274.9B in FY2025, from $247.1B in FY2024. Net income rose 73.5% to $6.0B. Evernorth was the largest segment, at 83% of the segment total.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 26, 2026) · Latest quarter: 10-Q for the quarter ended Jun 30, 2026 (filed Jul 30, 2026) · Data pulled Oct 30, 2026

Key facts

Cigna (NYSE: CI) closed fiscal 2025 on Dec 31, 2025 with revenue of $274.9B, up 11.2% from a year before; net income came to $6.0B, up 73.5%. Its newest quarterly report covers the three months to Jun 30, 2026: revenue of $71.7B, up 6.7% on the same stretch of the prior year, and net income of $1.7B. Broken down by segment, Evernorth led with 83% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 26, 2026) and 10-Q for the quarter ended Jun 30, 2026 (filed Jul 30, 2026).

Revenue$274.9BFY2025 · +11.2% vs FY2024

Net income$6.0BFY2025 · +73.5% vs FY2024

Operating cash flow$9.6BFY2025 · −7.4% vs FY2024

Cash & equivalents$6.3Bat Jun 30, 2026 · −18.0% vs FY2025 end

Total debt$31.9Bat Jun 30, 2026 · +1.3% vs FY2025 end

Diluted shares269MFY2025 avg · −5.2% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 26, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q2, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed Apr 30, 2026 · 10-Q filed Jul 30, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Evernorth$235.0B83%+16.3%
Cigna Healthcare$47.4B17%−10.7%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Evernorth (83%) and Cigna Healthcare (17%), as shares of the segment total. Total revenue was $274.9B.

By segment: three-year mixShare of the total each fiscal year

FY2023

75%25%

FY2024

79%21%

FY2025

83%17%

EvernorthCigna Healthcare

Source: 10-K FY2025

By product or service, FY2025

Products$216.7B79%+16.9%

Services$16.9B6%+14.4%

Service, Fees and Other Revenues$16.9B6%+14.4%

Service, Other$696M0%+19.2%

Share is of FY2025 revenue; the items listed don't cover all of it. The last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q2 2026 (Apr to Jun 2026) compared with Q2 2025 (Apr to Jun 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q2 2026Q2 2025

Company

Revenue

$71.7B Q2 2026

$67.2B Q2 2025

6.7% increase

Net income

$1.7B Q2 2026

$1.5B Q2 2025

8.4% increase

Source: Cigna 10-Q for the quarter ended Jun 30, 2026, filed Jul 30, 2026

By segment

Evernorth

$61.5B Q2 2026

$57.8B Q2 2025

6.3% increase

Cigna Healthcare

$11.8B Q2 2026

$10.8B Q2 2025

9.6% increase

Source: Cigna 10-Q for the quarter ended Jun 30, 2026, filed Jul 30, 2026

Cash & equivalents $6.3B at Jun 30, 2026, vs $7.7B at FY2025 end.
Total debt $31.9B at Jun 30, 2026, vs $31.5B at FY2025 end.
Operating cash flow, first 6 months of fiscal 2026: $710M vs $34M a year earlier.

The bull case and the bear case

The bull case

Revenue rose 11.2% in FY2025 to $274.9B, from $247.1B a year earlier. 10-K, FY2025
Net income rose 73.5% in FY2025 to $6.0B, from $3.4B. 10-K, FY2025
Diluted shares fell 5.2% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
Revenue in the quarter ended Jun 30, 2026 was $71.7B, up 6.7% on a year earlier. 10-Q, quarter ended Jun 30, 2026

The bear case

Operating cash flow fell 7.4% in FY2025 to $9.6B. 10-K, FY2025
Cigna Healthcare revenue fell 10.7% in FY2025 to $47.4B. 10-K, FY2025
The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include regulation; pricing and reimbursement; competition. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Cigna is in the health care services industry, part of the health care sector. The SEC files it under Hospital & Medical Service Plans.

Cigna reports 2 segments: Evernorth and Cigna Healthcare.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the health care services industry. They are not a summary of Cigna’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$195.3B	$247.1B	$274.9B
Net income	$5.2B	$3.4B	$6.0B
Operating cash flow	$11.8B	$10.4B	$9.6B
Cash & equivalents (year end)	$7.8B	$7.5B	$7.7B
Total debt (year end)	$30.9B	$32.0B	$31.5B
Diluted shares	297M	283M	269M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Debt due within one year plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator

About these numbers

Segment figures are shown before eliminations and other items, so shares are of the segment total rather than of consolidated revenue.
The product or service chart covers only part of revenue: the company reports other lines that aren't part of this breakdown.

Recent filings

Form	Filed	Period
10-Q	Jul 30, 2026	Jun 30, 2026
10-Q	Apr 30, 2026	Mar 31, 2026
DEF 14A	Mar 13, 2026	Apr 22, 2026
10-K	Feb 26, 2026	Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Cigna

How does Cigna make money?

Fiscal 2025 revenue: $274.9B. By segment in FY2025: Evernorth (83%) and Cigna Healthcare (17%), as shares of the segment total. Total revenue was $274.9B. Source: 10-K for fiscal 2025, filed Feb 26, 2026.

What was Cigna's revenue in fiscal 2025?

$274.9B, up 11.2% from fiscal 2024 ($247.1B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $195.3B. Source: 10-K for fiscal 2025, filed Feb 26, 2026.

Is Cigna profitable?

Net income was $6.0B in fiscal 2025 (up 73.5%; fiscal 2024 was $3.4B). That counts as a GAAP profit. The latest quarter, ended Jun 30, 2026: net income was $1.7B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 26, 2026.

What did Cigna report in its latest quarterly filing?

For the three months to Jun 30, 2026: revenue $71.7B (up 6.7% from $67.2B) and net income $1.7B (up 8.4% from $1.5B). Source: 10-Q for the quarter ended Jun 30, 2026, filed Jul 30, 2026.

How much cash and debt does Cigna have?

As of Jun 30, 2026: $6.3B of cash and cash equivalents, $31.9B of total debt. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Jul 30, 2026.

What are the main risks Cigna faces?

Cigna's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 26, 2026. Risks that are common among companies in the health care services industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these Cigna numbers come from?

The 10-K filed Feb 26, 2026 (fiscal 2025) and the 10-Q filed Jul 30, 2026 (quarter ended Jun 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in CI: The editor holds no position in Cigna (CI). As of Oct 25, 2026.
Trading rule: The editor does not buy or sell CI from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Oct 30, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold CI, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
CignaCI	FY2025	$274.9B	+11.2%	$6.0B
CVS HealthCVS	FY2025	$402.1B	+7.8%	$1.8B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.