Cigna
CI · Health Care Services
$306.95
2.8%Labcorp
LH · Health Care Services
$328.95
0.3%The short version
- Cigna is the larger business, with $274.9B of revenue in fiscal 2025 against $14.0B for Labcorp, about 20 times as much.
- Cigna grew revenue faster (11.2%, against 7.3%).
- Labcorp kept more of each dollar of sales as operating profit (9.9% operating margin, against 3.4% operating margin).
- Cigna earned a higher return on the capital invested in it (11.7%, against 8.2%).
- Investors pay more for each dollar of Labcorp’s earnings: a P/E of 27.2x against 12.7x for Cigna.
| Latest fiscal year | CI · FY25 | LH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $81.0B | $27.0B |
| Revenue | $274.9B | $14.0B |
| Free cash flow | — | $1.2B |
| Net income | $6.0B | $877M |
| Growth | ||
| Revenue growth | 11.2% | 7.3% |
| 5-year growth | 11.4% | −0.0% |
| Share count change | −5.2% | −0.7% |
| Profitability | ||
| Gross margin | — | 28.8% |
| Operating margin | 3.4% | 9.9% |
| Net margin | 2.2% | 6.3% |
| FCF margin | — | 8.6% |
| Return on capital | 11.7% | 8.2% |
| Return on equity | 14.4% | 10.5% |
| Balance sheet | ||
| Net debt | $22.1B | $5.1B |
| Net debt / EBITDA | 1.9x | 2.5x |
| Dividends and buybacks | $5.2B | $691M |
| Valuation & quality | ||
| P/E | 12.7x | 27.2x |
| Piotroski F-score | 7 | 7 |
FY16
CI $39.8B
LH $9.6B
FY17
CI $41.8B
LH $10.3B
FY18
CI $48.7B
LH $11.3B
FY19
CI $153.6B
LH $11.6B
FY20
CI $160.4B
LH $14.0B
FY21
CI $174.1B
LH $13.1B
FY22
CI $180.5B
LH $11.9B
FY23
CI $195.3B
LH $12.2B
FY24
CI $247.1B
LH $13.0B
FY25
CI $274.9B
LH $14.0B
CI
LH
FY16
CI 7.8%
LH 13.3%
FY17
CI 9.4%
LH 12.7%
FY18
CI 8.6%
LH 11.7%
FY19
CI 5.3%
LH 11.5%
FY20
CI 5.1%
LH 17.5%
FY21
CI 4.6%
LH 23.2%
FY22
CI 4.7%
LH 12.1%
FY23
CI 4.4%
LH 6.0%
FY24
CI 3.8%
LH 8.4%
FY25
CI 3.4%
LH 9.9%
CI
LH
FY16
CI $3.6B
LH $918M
FY17
CI $3.6B
LH $1.2B
FY18
CI $3.2B
LH $926M
FY19
CI $8.4B
LH $1.0B
FY20
CI —
LH $1.8B
FY21
CI —
LH $2.7B
FY22
CI —
LH $1.5B
FY23
CI —
LH $874M
FY24
CI —
LH $1.1B
FY25
CI —
LH $1.2B
CI
LH
FY16
CI —
LH 7.9%
FY17
CI —
LH 10.9%
FY18
CI 6.8%
LH 7.1%
FY19
CI 8.5%
LH 7.6%
FY20
CI 9.0%
LH 12.6%
FY21
CI 8.8%
LH 16.6%
FY22
CI 9.7%
LH 8.0%
FY23
CI 12.5%
LH 3.7%
FY24
CI 10.4%
LH 6.9%
FY25
CI 11.7%
LH 8.2%
CI
LH
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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.