Cigna vs CVS Health
CVS Health reported revenue of $402.1 billion in fiscal 2025, 1.5 times Cigna's $274.9 billion in fiscal 2025. Cigna's revenue grew 11.2% in its latest year, and CVS Health's grew 7.8%. Cigna had an operating margin of 3.4%, against 1.2% at CVS Health.
Side by side
| Cigna | CVS Health | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $274.9B | $402.1B |
| Revenue growth | 11.2% | 7.8% |
| Revenue growth a year, last 5 years | 11.4% | 8.4% |
| Gross margin | — | 45.0% |
| Operating margin | 3.4% | 1.2% |
| Net margin | 2.2% | 0.4% |
| Free cash flow | — | $7.8B |
| Free cash flow margin | — | 1.9% |
| Return on capital | 11.7% | 2.9% |
| Net debt to EBITDA | 1.9x | 5.8x |
| Dividends and buybacks | $5.2B | $3.4B |
| Change in diluted share count | −5.2% | 0.7% |
| Last close | $305.78 | $92.53 |
| P/E at the last close | 12.6× | 24.4× |
| Insider trades, last 12 months | bought $999,932, sold $66.8 million | sold $323.7 million |
| Piotroski F-score | 7 of 8 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
CignaCVS Health
Operating margin
Percent of revenue
CignaCVS Health
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
CignaCVS Health
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Cigna and CVS Health pages.