Is the business good?
How good a business is CI?
Cigna earns 12% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
12%
Return on invested capital · cost of capital 9.0% · 2.5 points above what the capital costs: growth creates value
- Operating margin
- 3.5%
Operating margin · Healthcare Plans median 2.0% · 12 months to Q2 2026
- Share count, year on year
- −1.6%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 21%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 5.1% |
| FY2021 | 4.6% |
| FY2022 | 4.7% |
| FY2023 | 4.4% |
| FY2024 | 3.8% |
| FY2025 | 3.4% |
Details›
- Gross margin12 months to Q2 2026
- 21%
- Operating margin12 months to Q2 2026
- 3.5%
- Net margin12 months to Q2 2026
- 2.5%
- Revenue, trailing twelve months
- $282.4B
- Net income, trailing twelve months
- $6.98B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 12%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Healthcare Plans
Ranks #8 of 11 by Smart Score