The Cigna Group (CI)
Cigna provides health insurance and operates the Evernorth pharmacy-benefits and health-services business.
CI vs UNH: how the two businesses compare
- Bigger business: UNH, with $447.6B of yearly revenue, about 1.6× CI's $274.9B.
- More profitable: UNH keeps 3 cents of each sales dollar as profit, against 2 cents at CI.
- More cash from each sale: UNH turns 4 cents of each sales dollar into operating cash flow, against 3 cents at CI.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
UnitedHealth (UNH) is the larger business by reported revenue: $447.6B in its fiscal year ended Dec 2025, about 1.6× CI's $274.9B (fiscal year ended Dec 2025). CI's net margin was 2.2% and UNH's 2.7%. Both file with the SEC under the same industry code, SIC 6324 (Hospital & Medical Service Plans).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Health Care
- Hospital & Medical Service Plans
- Same classification
- December 31
- Same calendar
- Mar 2, 2026
CI vs UNH: quick comparison
| Company fact | CI | UNH |
|---|---|---|
| Company | The Cigna Group | UnitedHealth Group Incorporated |
| Exchange | NYSE | NYSE |
| Headquarters | — | Minnetonka, Minnesota |
| Founded | — | 1977 |
| SEC industry | Hospital & Medical Service Plans | Hospital & Medical Service Plans |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-26 | 10-K · 2026-03-02 |
CI vs UNH: audited financials
- Scale: UNH's $447.6B of revenue is about 1.6× CI's $274.9B.
- Net margin: nearly identical at 2.2% (CI) and 2.7% (UNH).
- Cash flow: operating cash flow is left out of this reading because lending, deposit, and trading balances run through it at banks, brokers, and insurers, so it does not measure earnings quality the way it does for an operating company.
- Periods: both fiscal years end on 2025-12-31, so these annual figures cover the same months.
| Metric | CI | UNH |
|---|---|---|
| Revenue | $274.9B2025-01-01 to 2025-12-31 · SEC filing | $447.6B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $6.0B2025-01-01 to 2025-12-31 · SEC filing | $12.1B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $9.6B2025-01-01 to 2025-12-31 · SEC filing | $19.7B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $22.182025-01-01 to 2025-12-31 · SEC filing | $13.232025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 2.2%2025-01-01 to 2025-12-31 · SEC filing | 2.7%2025-01-01 to 2025-12-31 · SEC filing |
CI: FY ending 2025-12-31 · UNH: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where CI and UNH overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 6324, Hospital & Medical Service Plans.
- Same fiscal calendar: both fiscal years end December 31.
Differences
- Scale: UNH reported about 1.6× the annual revenue of CI.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
UnitedHealth Group Incorporated (UNH)
UnitedHealth is the largest US health insurer and, through Optum, a major provider of pharmacy benefits, health services, and data analytics. Its combined insurance-and-services model gives it wide reach across the healthcare system.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves CI
We have not yet published a company-specific driver list for CI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-26.
What moves UNH
- Medical care ratio and medical cost trend in risk-based products
- Medicare Advantage membership, CMS rate notices, and Star ratings
- Optum Health value-based care arrangements and Optum Rx pharmacy spend
- Optum Insight backlog
The investment question
You now know UNH reports about 1.6× CI's revenue, and UNH keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about the hospital & medical service plans cycle, including “Medical care ratio and medical cost trend in risk-based products” at UNH, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 27 matched transaction rows for CI and 90 matched transaction rows for UNH. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CI primary filings
UNH primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CI or UNH
CI vs UNH FAQs
Are CI and UNH direct competitors?
Cigna and UnitedHealth share the SEC industry classification “Hospital & Medical Service Plans.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is CI or UNH the bigger company by revenue?
UnitedHealth (UNH) is the larger business by reported revenue: $447.6B in its fiscal year ended Dec 2025, about 1.6× CI's $274.9B (fiscal year ended Dec 2025). CI's net margin was 2.2% and UNH's 2.7%. Both file with the SEC under the same industry code, SIC 6324 (Hospital & Medical Service Plans). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, CI or UNH?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CI vs UNH comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers The Cigna Group and UnitedHealth Group Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-10. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-10. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
CI vs UNH compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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