Cigna
CI · Health Care Services
$306.95
2.8%DaVita
DVA · Health Care Services
$183.64
1.3%The short version
- Cigna is the larger business, with $274.9B of revenue in fiscal 2025 against $13.6B for DaVita, about 20 times as much.
- Cigna grew revenue faster (11.2%, against 6.5%).
- DaVita kept more of each dollar of sales as operating profit (15.0% operating margin, against 3.4% operating margin).
- DaVita earned a higher return on the capital invested in it (17.6%, against 11.7%).
- Investors pay more for each dollar of DaVita’s earnings: a P/E of 15.1x against 12.7x for Cigna.
| Latest fiscal year | CI · FY25 | DVA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $81.0B | $12.1B |
| Revenue | $274.9B | $13.6B |
| Free cash flow | — | $1.3B |
| Net income | $6.0B | $747M |
| Growth | ||
| Revenue growth | 11.2% | 6.5% |
| 5-year growth | 11.4% | 3.4% |
| Share count change | −5.2% | −13.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 3.4% | 15.0% |
| Net margin | 2.2% | 5.5% |
| FCF margin | — | 9.6% |
| Return on capital | 11.7% | 17.6% |
| Return on equity | 14.4% | — |
| Balance sheet | ||
| Net debt | $22.1B | $9.6B |
| Net debt / EBITDA | 1.9x | 3.5x |
| Dividends and buybacks | $5.2B | $1.3B |
| Valuation & quality | ||
| P/E | 12.7x | 15.1x |
| Piotroski F-score | 7 | 6 |
FY16
CI $39.8B
DVA $10.7B
FY17
CI $41.8B
DVA $10.9B
FY18
CI $48.7B
DVA $11.4B
FY19
CI $153.6B
DVA $11.4B
FY20
CI $160.4B
DVA $11.6B
FY21
CI $174.1B
DVA $11.6B
FY22
CI $180.5B
DVA $11.6B
FY23
CI $195.3B
DVA $12.1B
FY24
CI $247.1B
DVA $12.8B
FY25
CI $274.9B
DVA $13.6B
CI
DVA
FY16
CI 7.8%
DVA 19.0%
FY17
CI 9.4%
DVA 16.7%
FY18
CI 8.6%
DVA 13.4%
FY19
CI 5.3%
DVA 14.4%
FY20
CI 5.1%
DVA 14.7%
FY21
CI 4.6%
DVA 15.5%
FY22
CI 4.7%
DVA 11.5%
FY23
CI 4.4%
DVA 13.2%
FY24
CI 3.8%
DVA 16.3%
FY25
CI 3.4%
DVA 15.0%
CI
DVA
FY16
CI $3.6B
DVA $1.1B
FY17
CI $3.6B
DVA $1.0B
FY18
CI $3.2B
DVA $785M
FY19
CI $8.4B
DVA $1.3B
FY20
CI —
DVA $1.3B
FY21
CI —
DVA $1.3B
FY22
CI —
DVA $961M
FY23
CI —
DVA $1.5B
FY24
CI —
DVA $1.5B
FY25
CI —
DVA $1.3B
CI
DVA
FY16
CI —
DVA 11.7%
FY17
CI —
DVA 10.5%
FY18
CI 6.8%
DVA 8.4%
FY19
CI 8.5%
DVA 11.0%
FY20
CI 9.0%
DVA 13.9%
FY21
CI 8.8%
DVA 15.4%
FY22
CI 9.7%
DVA 11.3%
FY23
CI 12.5%
DVA 13.9%
FY24
CI 10.4%
DVA 18.7%
FY25
CI 11.7%
DVA 17.6%
CI
DVA
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.