--- title: "Cigna: Business Model & Revenue Engine" description: "Cigna revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/cigna/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Cigna: Business Model & Revenue Engine ## Direct Answer Cigna reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Evernorth is the largest, with $235 billion of revenue (85% of the total), followed by Cigna Healthcare at $47.4 billion (17%). ## How Does Cigna Make Money? Evernorth supplies 85% of revenue, so Cigna's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Evernorth grew fastest (+16.3%) and All Other slowest (-18.6%), so the revenue mix tilts toward Evernorth while that gap lasts. | Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Evernorth | $235 billion | $202 billion | 85.5% | 16.3% | | Cigna Healthcare | $47.4 billion | $53.1 billion | 17.2% | -10.7% | | All Other | $674 million | $828 million | 0.2% | -18.6% | ![Bar chart of Cigna revenue by segment for fiscal 2025: Evernorth 85.5%, Cigna Healthcare 17.2%, All Other 0.2%.](https://www.getswoopr.com/images/charts/cigna-business-model-segment-mix.webp) *Cigna revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## What Does Cigna Sell? Cigna also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business. | Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | Product | $217 billion | $185 billion | 78.8% | 16.9% | | Service | $16.9 billion | $14.8 billion | 6.2% | 14.4% | | Service Fees and Other Revenues | $16.9 billion | $14.8 billion | 6.2% | 14.4% | | Service Other | $696 million | $584 million | 0.3% | 19.2% | ## What the Segment Figures Do Not Show The rows above add up to 103% of Cigna's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value Cigna reported in the segment note and revenue disclosures of its Form 10-K filed February 26, 2026 (accession 0001739940-26-000006), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are Cigna's business segments? In its fiscal 2025 Form 10-K, Cigna reports revenue for Evernorth, Cigna Healthcare and All Other. ### Which part of Cigna brings in the most revenue? Evernorth, with $235 billion of revenue in fiscal 2025, or 85% of the total. ### Where does Cigna report its segment results? In the segment note to the financial statements in its Form 10-K, most recently filed February 26, 2026, alongside management's discussion of each segment's results. ## References - [SEC EDGAR: Cigna Group Form 10-K filed February 26, 2026](https://www.sec.gov/Archives/edgar/data/1739940/000173994026000006/ci-20251231.htm) - [SEC EDGAR: Cigna Group annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1739940&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [Cigna company dossier](https://www.getswoopr.com/stocks/companies/cigna/) - [Cigna financial metrics](https://www.getswoopr.com/stocks/companies/cigna/metrics/) - [Cigna financial risk indicators](https://www.getswoopr.com/stocks/companies/cigna/risks/) - [Cigna peer comparison](https://www.getswoopr.com/stocks/companies/cigna/competitors/) - [Cigna business model and revenue mix](https://www.getswoopr.com/stocks/companies/cigna/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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