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

Cigna brought in $274.9B of revenue in fiscal 2025, Unitedhealth $447.6B in fiscal 2025. Revenue changed by +11.2% at Cigna and +11.8% at Unitedhealth on the year before, so Unitedhealth grew faster. Cigna kept 2.2% of its revenue as net profit, Unitedhealth 2.7%.

Side by side, latest fiscal year

CIUNH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$274.9B$447.6B
Revenue growth+11.2%+11.8%
Net income$6B$12.1B
Net margin2.2%2.7%
Free cash flown/a$16.1B
Free cash flow marginn/a3.6%
Earnings per share (diluted)$22.18$13.23
Cash$7.7B$24.4B
Debt$30.9B$72.3B
Price to earnings12.328.5
Market value$71.9B$338B
Dividend yield2.22%2.32%
Rank by revenue in sector#4 of 523 · Health care#1 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: $274.9BUNH FY2018: $226.2BUNH FY2019: $242.2BUNH FY2020: $257.1BUNH FY2021: $287.6BUNH FY2022: $324.2BUNH FY2023: $371.6BUNH FY2024: $400.3BUNH FY2025: $447.6BFY18FY19FY20FY21FY22FY23FY24FY25
CI $274.9BUNH $447.6B
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: $6BUNH FY2018: $12BUNH FY2019: $13.8BUNH FY2020: $15.4BUNH FY2021: $17.3BUNH FY2022: $20.1BUNH FY2023: $22.4BUNH FY2024: $14.4BUNH FY2025: $12.1BFY18FY19FY20FY21FY22FY23FY24FY25
CI $6BUNH $12.1B
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%UNH FY2018: 5.3%UNH FY2019: 5.7%UNH FY2020: 6.0%UNH FY2021: 6.0%UNH FY2022: 6.2%UNH FY2023: 6.0%UNH FY2024: 3.6%UNH FY2025: 2.7%FY18FY19FY20FY21FY22FY23FY24FY25
CI 2.2%UNH 2.7%
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%UNH FY2019: +7.0%UNH FY2020: +6.2%UNH FY2021: +11.8%UNH FY2022: +12.7%UNH FY2023: +14.6%UNH FY2024: +7.7%UNH FY2025: +11.8%FY19FY20FY21FY22FY23FY24FY25
CI +11.2%UNH +11.8%
Free cash flow
CI FY2018: $3.2BCI FY2019: $8.4BUNH FY2018: $13.7BUNH FY2019: $16.4BUNH FY2020: $20.1BUNH FY2021: $19.9BUNH FY2022: $23.4BUNH FY2023: $25.7BUNH FY2024: $20.7BUNH FY2025: $16.1BFY18FY19FY20FY21FY22FY23FY24FY25
CI $8.4BUNH $16.1B

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

Questions about Cigna and Unitedhealth

Which is bigger by revenue, Cigna or Unitedhealth?

Unitedhealth is bigger by revenue: $447.6B in fiscal 2025, against $274.9B for Cigna in fiscal 2025.

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

Cigna had a net margin of 2.2% in fiscal 2025; Unitedhealth had 2.7% in fiscal 2025.

Which grew revenue faster, Cigna or Unitedhealth?

In their latest fiscal years revenue changed by +11.2% at Cigna and +11.8% at Unitedhealth.

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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