Cardinal Health vs Cigna
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KIRA’s take AI analyst
I put Cardinal Health and Cigna side by side, using each one’s latest annual report. Here is what stands out:
- Cigna is the larger business, with $274.9B of revenue in fiscal 2025 against $254.2B for Cardinal Health.
- Cardinal Health grew revenue faster (14.2%, against 11.2%).
- Cigna kept more of each dollar of sales as operating profit (3.4% operating margin, against 1.0%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Cardinal Health
CAH
2/7
Revenue growthNet debt / EBITDA
Cigna
CI
5/7
5-year growthOperating marginNet marginPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | CAH FY26 | CI FY25 |
|---|---|---|
| Size | ||
| Market cap | $59.6B | $80.7B |
| Revenue | $254.2B | $274.9B |
| Free cash flow | $4.5B | — |
| Net income | $1.7B | $6.0B |
| Growth | ||
| Revenue growth | 14.2% | 11.2% |
| 5-year growth | 9.4% | 11.4% |
| Share count change | −2.1% | −5.2% |
| Profitability | ||
| Gross margin | 3.8% | — |
| Operating margin | 1.0% | 3.4% |
| Net margin | 0.7% | 2.2% |
| FCF margin | 1.8% | — |
| Return on capital | — | 11.7% |
| Return on equity | — | 14.4% |
| Balance sheet | ||
| Net debt | $4.0B | $22.1B |
| Net debt / EBITDA | 1.1x | 1.9x |
| Dividends and buybacks | $1.8B | $5.2B |
| Valuation & quality | ||
| P/E | — | 12.6x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

