CI Cigna
FY2025 10-K
Cigna (CI) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Global health company operating two core segments: Evernorth Health Services (PBM/specialty pharmacy) and Cigna Healthcare (medical benefits), serving 185M+ customer relationships across 30+ markets
- • Completed sale of Medicare Advantage, Medicare Part D, and CareAllies businesses to HCSC on March 19, 2025 — major portfolio exit, marking deliberate retreat from government-sponsored individual Medicare market
Management Discussion & Analysis
- • Revenue $274.9B, up $27.8B (+11%) YoY; pharmacy revenues dominant driver, up $31.3B (+17%) from Evernorth customer growth
- • Evernorth (best segment): adjusted revenues $235B, pre-tax margin 3.1% vs 3.5%; Cigna Healthcare (worst): revenues down 11% to $47.2B, MCR 84.4% vs 83.2%
Risk Factors
- • FTC administrative complaint against Express Scripts (Sept 2024) for anticompetitive insulin rebate practices; settled Feb 2026 with no penalty but required business practice changes
- • Total indebtedness ~$31.5B as of Dec 31, 2025, representing significant leverage constraining capital allocation flexibility
Financial SummaryXBRL
Revenue
$274.9B
Net Income
$6.0B
Operating Margin
3.3%
Net Margin
2.2%
ROE
14.3%
Total Assets
$157.9B
EPS (Diluted)
$22.18
Operating Cash Flow
$9.6B
Source: XBRL data from Cigna FY2025 10-K filing on SEC EDGAR. All figures in USD.
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