Cigna Corp’s Revenue by Segment (2018-2023)

This statistic highlights Cigna Corp’s Revenue by Segment, split across Cigna Healthcare, Evernorth, International markets, US Medical, Other, and Other operations, reported on a quarterly basis from Q1 2018 onwards.

Cigna Healthcare is a platform that comprises their US Commercial, US Government, and International Health operating segments—allowing them to harness their partnership relationship with physicians for delivering health care to employers and individuals that are affordable and coordinated in nature. Evernorth and Cigna Healthcare, combined, provide a foundation that is both diverse and strong. It’s main strengths include providing medical and pharmacy solutions as well as delivering new healthcare services and solutions.

Cigna Corp’s Revenue by Segment

(All figures are in billions, except percentages)

Cigna Corp uses ‘pre-tax adjusted income from operations’ and ‘adjusted revenues’ as its main financial measures of the operating performance of each segment since the management believes that these metrics are the best reflections of the business operations’ results and allows the analysis of trends in underlying revenue, profitability, and expenses.

The total revenue gradually increases through the quarters. Therefore, it peaked in the latest quarter of 2021, standing at $46.185 billion. The revenue recorded in Q3 2021 amounted to $45.817 billion. It marked a quarter-on-quarter growth of 0.8%, from Q3 2021 to Q4 2021. The total revenue earned in Q4 2020 was $43.569 billion. The year-on-year growth in revenue from Q4 2020 to Q4 2021 was 6%. The revenue segments were different during the aforementioned quarters, hence the contribution from each segment cannot be compared.

Cigna Corp’s revenue can be further bifurcated into the following:

Cigna Healthcare

This became a reportable segment only in Q4 2021. During this quarter it garnered a total of $11.214 billion which contributed 24.28% to the company’s total revenue in Q4 2021. 

Evernorth (earlier Health Services)

The company’s segment—Evernorth is their services platform which is extremely attractive to its partners and clients owing to the depth of its capabilities and expertise which enables Cigna to deepen its existing relationships. Before the name ‘Evernorth’ was introduced, this segment was called Health Services. This has been the greatest revenue contributor throughout all quarters and the contribution has consistently increased with every passing quarter.

The amount contributed by this segment in Q4 2021 was $35.086 billion, which contributed approximately 76% of the quarterly total. The revenue recorded in Q3 2021 was $33.614 billion, which increased on a quarter-on-quarter basis by 4.38%, to $35.086 billion in Q4 2021. Q4 2020’s revenue from Evernorth was $30.533 billion. This marked a year-on-year growth from Q4 2020 to Q4 2021 of 14.91%. The proportion of revenue contributed by this segment in Q4 2020 and Q3 2021 was considerably lower than that of the latest quarter of 2021—it stood at 70% and 73% respectively of their respective quarterly totals. 

International Markets

This segment comprised Cigna’s international customers which include countries like Hong Kong, Indonesia, New Zealand, South Korea, Taiwan, and Thailand, where they’ve had business operations. This was not considered a reportable segment in Q4 2021. In Q3 2021, the revenue recorded was $1.566 billion, which formed 3% of the quarterly total. In Q4 2020, the revenue recorded was $1.578 billion, which contributed 4% to the respective quarterly total. 

US Medical (earlier Integrated Medical)

This was not a reportable segment in Q4 2021. In Q3 2021, it recorded a revenue worth $10.497 billion, and in Q4 2020, it recorded $10.175 billion, both contributing 23% to their respective quarterly totals.

Other

This segment was reported only in Q4 2021. It recorded -$0.115 billion, thereby indicating a loss. It formed -0.25% of the total revenue revenue of the company in Q4 2021.

Other Operations

This segment was not reported in Q4 2021, therefore, it was present only in its preceding quarters. In Q3 2021, it recorded a revenue of $0.14 billion, which contributed only 0.3% to its quarterly revenue total. In Q4 2020, the revenue was higher than Q3 2021, amounting to $1.283 billion, which contributed 3% of the revenue total.

About Cigna Corporation

Founded in 1982, Cigna is a global health-services company that is uniquely capable of driving affordable, simple, predictable health care with capabilities that are deep and expansive and accelerate its strategy to achieve its mission of improving health, peace of mind, and well-being. The company headquarters are located in Bloomfield, Connecticut. Cigna Corp’s stock is listed on the NYSE under the ticker symbol ‘CI’.

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