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Alignment Healthcare vs Cigna: revenue, profit, margins and growth compared

Alignment Healthcare brought in $3.9B of revenue in fiscal 2025, Cigna $274.9B in fiscal 2025. Revenue changed by +46.1% at Alignment Healthcare and +11.2% at Cigna on the year before, so Alignment Healthcare grew faster. Alignment Healthcare kept -0.0% of its revenue as net profit, Cigna 2.2%.

Side by side, latest fiscal year

ALHCCI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.9B$274.9B
Revenue growth+46.1%+11.2%
Net income-$724K$6B
Net margin-0.0%2.2%
Free cash flow$113.1Mn/a
Free cash flow margin2.9%n/a
Earnings per share (diluted)$0.00$22.18
Cash$575.8M$7.7B
Debt$323.2M$30.9B
Price to earningsn/a12.3
Market value$1.7B$71.9B
Dividend yieldn/a2.22%
Rank by revenue in sector#73 of 523 · Health care#4 of 523 · Health care

Over the years

Revenue
ALHC FY2019: $757MALHC FY2021: $959.2MALHC FY2021: $1.2BALHC FY2022: $1.4BALHC FY2023: $1.8BALHC FY2024: $2.7BALHC FY2025: $3.9BCI FY2018: $48.7BCI FY2019: $153.6BCI FY2020: $160.4BCI FY2021: $174.1BCI FY2022: $180.5BCI FY2023: $195.3BCI FY2024: $247.1BCI FY2025: $274.9BFY18FY19FY20FY21FY22FY23FY24FY25
ALHC $3.9BCI $274.9B
Net income
ALHC FY2019: -$44.7MALHC FY2021: -$22.9MALHC FY2021: -$195.3MALHC FY2022: -$149.5MALHC FY2023: -$148MALHC FY2024: -$128MALHC FY2025: -$724KCI FY2018: $2.6BCI FY2019: $5.1BCI FY2020: $8.5BCI FY2021: $5.4BCI FY2022: $6.7BCI FY2023: $5.2BCI FY2024: $3.4BCI FY2025: $6BFY18FY19FY20FY21FY22FY23FY24FY25
ALHC -$724KCI $6B
Net margin
ALHC FY2019: -5.9%ALHC FY2021: -2.4%ALHC FY2021: -16.7%ALHC FY2022: -10.4%ALHC FY2023: -8.1%ALHC FY2024: -4.7%ALHC FY2025: -0.0%CI FY2018: 5.4%CI FY2019: 3.3%CI FY2020: 5.3%CI FY2021: 3.1%CI FY2022: 3.7%CI FY2023: 2.6%CI FY2024: 1.4%CI FY2025: 2.2%FY18FY19FY20FY21FY22FY23FY24FY25
ALHC -0.0%CI 2.2%
Revenue growth
ALHC FY2021: +26.7%ALHC FY2021: +21.7%ALHC FY2022: +22.8%ALHC FY2023: +27.2%ALHC FY2024: +48.3%ALHC FY2025: +46.1%CI FY2019: +215.7%CI FY2020: +4.5%CI FY2021: +8.5%CI FY2022: +3.7%CI FY2023: +8.2%CI FY2024: +26.6%CI FY2025: +11.2%FY19FY20FY21FY22FY23FY24FY25
ALHC +46.1%CI +11.2%
Free cash flow
ALHC FY2022: -$69.2MALHC FY2023: -$95.2MALHC FY2024: -$6.6MALHC FY2025: $113.1MCI FY2018: $3.2BCI FY2019: $8.4BFY18FY19FY22FY23FY24FY25
ALHC $113.1MCI $8.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Alignment Healthcare and Cigna

Which is bigger by revenue, Alignment Healthcare or Cigna?

Cigna is bigger by revenue: $274.9B in fiscal 2025, against $3.9B for Alignment Healthcare in fiscal 2025.

Which keeps more of its revenue as profit, Alignment Healthcare or Cigna?

Alignment Healthcare had a net margin of -0.0% in fiscal 2025; Cigna had 2.2% in fiscal 2025.

Which grew revenue faster, Alignment Healthcare or Cigna?

In their latest fiscal years revenue changed by +46.1% at Alignment Healthcare and +11.2% at Cigna.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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