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Side-by-side financial comparison of Becton Dickinson (BDX) and Cigna (CI), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Cigna is the larger business by last-quarter revenue ($72.5B vs $5.3B, roughly 13.8× Becton Dickinson). Becton Dickinson runs the higher net margin — 7.3% vs 1.8%, a 5.5% gap on every dollar of revenue. On growth, Cigna posted the faster year-over-year revenue change (10.4% vs -0.4%). Over the past eight quarters, Cigna's revenue compounded faster (12.5% CAGR vs 2.0%).
Becton, Dickinson and Company is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain areas.
The Cigna Group is an American multinational for-profit managed healthcare and insurance company based in Bloomfield, Connecticut. Cigna's insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups.
BDX vs CI — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $72.5B |
| Net Profit | $382.0M | $1.3B |
| Gross Margin | 45.9% | 20.3% |
| Operating Margin | 10.5% | 3.2% |
| Net Margin | 7.3% | 1.8% |
| Revenue YoY | -0.4% | 10.4% |
| Net Profit YoY | 24.0% | -17.1% |
| EPS (diluted) | $1.34 | $4.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $5.3B | $72.5B | ||
| Q3 25 | $5.9B | $69.7B | ||
| Q2 25 | $5.5B | $67.2B | ||
| Q1 25 | $5.3B | $65.5B | ||
| Q4 24 | $5.2B | $65.6B | ||
| Q3 24 | $5.4B | $63.7B | ||
| Q2 24 | $5.0B | $60.5B | ||
| Q1 24 | $5.0B | $57.3B |
| Q4 25 | $382.0M | $1.3B | ||
| Q3 25 | $493.0M | $2.0B | ||
| Q2 25 | $574.0M | $1.6B | ||
| Q1 25 | $308.0M | $1.4B | ||
| Q4 24 | $303.0M | $1.5B | ||
| Q3 24 | $400.0M | $825.0M | ||
| Q2 24 | $487.0M | $1.6B | ||
| Q1 24 | $537.0M | $-212.0M |
| Q4 25 | 45.9% | 20.3% | ||
| Q3 25 | 47.5% | 20.4% | ||
| Q2 25 | 47.8% | 20.7% | ||
| Q1 25 | 42.8% | 26.1% | ||
| Q4 24 | 43.2% | 25.3% | ||
| Q3 24 | 45.7% | 25.3% | ||
| Q2 24 | 46.2% | 26.5% | ||
| Q1 24 | 45.7% | 27.6% |
| Q4 25 | 10.5% | 3.2% | ||
| Q3 25 | 11.8% | 3.7% | ||
| Q2 25 | 16.0% | 3.4% | ||
| Q1 25 | 10.4% | 3.0% | ||
| Q4 24 | 8.8% | 3.3% | ||
| Q3 24 | 11.4% | 4.0% | ||
| Q2 24 | 12.1% | 4.0% | ||
| Q1 24 | 14.5% | 3.9% |
| Q4 25 | 7.3% | 1.8% | ||
| Q3 25 | 8.4% | 2.8% | ||
| Q2 25 | 10.4% | 2.4% | ||
| Q1 25 | 5.8% | 2.2% | ||
| Q4 24 | 5.9% | 2.3% | ||
| Q3 24 | 7.4% | 1.3% | ||
| Q2 24 | 9.8% | 2.7% | ||
| Q1 24 | 10.6% | -0.4% |
| Q4 25 | $1.34 | $4.64 | ||
| Q3 25 | $1.71 | $6.98 | ||
| Q2 25 | $2.00 | $5.71 | ||
| Q1 25 | $1.07 | $4.85 | ||
| Q4 24 | $1.04 | $5.01 | ||
| Q3 24 | $1.37 | $2.63 | ||
| Q2 24 | $1.68 | $5.45 | ||
| Q1 24 | $1.85 | $-0.97 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $740.0M | $8.7B |
| Total DebtLower is stronger | — | $30.9B |
| Stockholders' EquityBook value | $25.3B | $41.7B |
| Total Assets | $54.8B | $157.9B |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $740.0M | $8.7B | ||
| Q3 25 | $641.0M | $6.9B | ||
| Q2 25 | $735.0M | $5.1B | ||
| Q1 25 | $667.0M | $9.1B | ||
| Q4 24 | $711.0M | $8.2B | ||
| Q3 24 | $1.7B | $6.8B | ||
| Q2 24 | $4.5B | $7.9B | ||
| Q1 24 | $2.3B | $9.5B |
| Q4 25 | — | $30.9B | ||
| Q3 25 | — | $30.9B | ||
| Q2 25 | — | $26.5B | ||
| Q1 25 | — | $26.5B | ||
| Q4 24 | — | $28.9B | ||
| Q3 24 | — | $30.2B | ||
| Q2 24 | — | $30.2B | ||
| Q1 24 | — | $31.1B |
| Q4 25 | $25.3B | $41.7B | ||
| Q3 25 | $25.4B | $41.8B | ||
| Q2 25 | $25.5B | $40.2B | ||
| Q1 25 | $25.2B | $40.2B | ||
| Q4 24 | $25.2B | $41.0B | ||
| Q3 24 | $25.9B | $42.1B | ||
| Q2 24 | $25.9B | $41.3B | ||
| Q1 24 | $25.6B | $41.2B |
| Q4 25 | $54.8B | $157.9B | ||
| Q3 25 | $55.3B | $157.9B | ||
| Q2 25 | $54.9B | $151.7B | ||
| Q1 25 | $54.5B | $150.7B | ||
| Q4 24 | $54.7B | $155.9B | ||
| Q3 24 | $57.3B | $157.6B | ||
| Q2 24 | $55.6B | $155.4B | ||
| Q1 24 | $54.2B | $153.1B |
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.74× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 0.72× | ||
| Q2 24 | — | 0.73× | ||
| Q1 24 | — | 0.75× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $657.0M | $6.1B |
| Free Cash FlowOCF − Capex | $549.0M | — |
| FCF MarginFCF / Revenue | 10.5% | — |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.1% | — |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.72× | 4.83× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $657.0M | $6.1B | ||
| Q3 25 | $1.4B | $3.4B | ||
| Q2 25 | $1.2B | $-1.9B | ||
| Q1 25 | $164.0M | $1.9B | ||
| Q4 24 | $693.0M | $5.2B | ||
| Q3 24 | $1.2B | $46.0M | ||
| Q2 24 | $1.3B | $265.0M | ||
| Q1 24 | $514.0M | $4.8B |
| Q4 25 | $549.0M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $35.0M | — | ||
| Q4 24 | $588.0M | — | ||
| Q3 24 | $882.0M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $380.0M | — |
| Q4 25 | 10.5% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 16.2% | — | ||
| Q2 24 | 22.4% | — | ||
| Q1 24 | 7.5% | — |
| Q4 25 | 2.1% | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 3.6% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | 1.72× | 4.83× | ||
| Q3 25 | 2.75× | 1.73× | ||
| Q2 25 | 2.12× | -1.16× | ||
| Q1 25 | 0.53× | 1.36× | ||
| Q4 24 | 2.29× | 3.39× | ||
| Q3 24 | 2.94× | 0.06× | ||
| Q2 24 | 2.66× | 0.16× | ||
| Q1 24 | 0.96× | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
BDX
| Other | $2.8B | 53% |
| Medication Management Solutions | $678.0M | 13% |
| Urologyand Critical Care | $339.0M | 6% |
| Surgery | $310.0M | 6% |
| Peripheral Intervention | $265.0M | 5% |
| Specimen Management | $245.0M | 5% |
| Advanced Patient Monitoring | $178.0M | 3% |
| Diagnostic Solutions | $176.0M | 3% |
| Bio Pharma Systems | $150.0M | 3% |
| Biosciences | $124.0M | 2% |
CI
| Network Pharmacy | $34.3B | 47% |
| Home Delivery And Specialty | $21.1B | 29% |
| Cigna Healthcare | $9.4B | 13% |
| Services | $4.5B | 6% |
| Other Pharmacy | $3.4B | 5% |
| Service Other | $144.0M | 0% |
