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Cigna vs Centene: revenue, profit, margins and growth compared

Cigna brought in $274.9B of revenue in fiscal 2025, Centene $194.8B in fiscal 2025. Revenue changed by +11.2% at Cigna and +19.4% at Centene on the year before, so Centene grew faster. Cigna kept 2.2% of its revenue as net profit, Centene -3.4%.

Side by side, latest fiscal year

CICNC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$274.9B$194.8B
Revenue growth+11.2%+19.4%
Net income$6B-$6.7B
Net margin2.2%-3.4%
Free cash flown/a$4.3B
Free cash flow marginn/a2.2%
Earnings per share (diluted)$22.18-$13.53
Cash$7.7B$17.9B
Debt$30.9B$17.5B
Price to earnings12.3n/a
Market value$71.9B$30.5B
Dividend yield2.22%n/a
Rank by revenue in sector#4 of 523 · Health care#7 of 523 · Health care

Over the years

Revenue
CI FY2018: $48.7BCI FY2019: $153.6BCI FY2020: $160.4BCI FY2021: $174.1BCI FY2022: $180.5BCI FY2023: $195.3BCI FY2024: $247.1BCI FY2025: $274.9BCNC FY2018: $60.1BCNC FY2019: $74.6BCNC FY2020: $111.1BCNC FY2021: $126BCNC FY2022: $144.5BCNC FY2023: $154BCNC FY2024: $163.1BCNC FY2025: $194.8BFY18FY19FY20FY21FY22FY23FY24FY25
CI $274.9BCNC $194.8B
Net income
CI FY2018: $2.6BCI FY2019: $5.1BCI FY2020: $8.5BCI FY2021: $5.4BCI FY2022: $6.7BCI FY2023: $5.2BCI FY2024: $3.4BCI FY2025: $6BCNC FY2018: $900MCNC FY2019: $1.3BCNC FY2020: $1.8BCNC FY2021: $1.3BCNC FY2022: $1.2BCNC FY2023: $2.7BCNC FY2024: $3.3BCNC FY2025: -$6.7BFY18FY19FY20FY21FY22FY23FY24FY25
CI $6BCNC -$6.7B
Net margin
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%CNC FY2018: 1.5%CNC FY2019: 1.8%CNC FY2020: 1.6%CNC FY2021: 1.1%CNC FY2022: 0.8%CNC FY2023: 1.8%CNC FY2024: 2.0%CNC FY2025: -3.4%FY18FY19FY20FY21FY22FY23FY24FY25
CI 2.2%CNC -3.4%
Revenue growth
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%CNC FY2019: +24.2%CNC FY2020: +48.9%CNC FY2021: +13.4%CNC FY2022: +14.7%CNC FY2023: +6.5%CNC FY2024: +5.9%CNC FY2025: +19.4%FY19FY20FY21FY22FY23FY24FY25
CI +11.2%CNC +19.4%
Free cash flow
CI FY2018: $3.2BCI FY2019: $8.4BCNC FY2018: $559MCNC FY2019: $753MCNC FY2020: $4.6BCNC FY2021: $3.3BCNC FY2022: $5.3BCNC FY2023: $7.3BCNC FY2024: -$490MCNC FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
CI $8.4BCNC $4.3B

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

Questions about Cigna and Centene

Which is bigger by revenue, Cigna or Centene?

Cigna is bigger by revenue: $274.9B in fiscal 2025, against $194.8B for Centene in fiscal 2025.

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

Cigna had a net margin of 2.2% in fiscal 2025; Centene had -3.4% in fiscal 2025.

Which grew revenue faster, Cigna or Centene?

In their latest fiscal years revenue changed by +11.2% at Cigna and +19.4% at Centene.

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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