Evernorth pre-tax margin measures pre-tax adjusted income from operations as a percentage of adjusted revenue under Cigna's segment methodology.
Evernorth reported a 2.7% pre-tax margin in the second quarter of 2026, down from 2.9% a year earlier.
Margin contracted despite adjusted revenue growth
Adjusted revenue increased 6% while pre-tax adjusted income from operations declined 2%.
That divergence shows how client initiatives, claims mix, and operating costs can offset top-line growth.
The numerator and denominator are both adjusted
Cigna defines the measure using pre-tax adjusted income from operations divided by adjusted revenue.
Compare it with Evernorth SG&A expense ratio and PBM adjusted pre-tax income growth.
Primary source: Cigna Q2 2026 Form 10-Q.
Part of the Pharmacy Benefit & Specialty Care Economics
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- CIOpen operating-model research →10 of 10 reviewed concepts in Pharmacy Benefit & Specialty Care EconomicsSegment expense and pre-tax conversion2 of 2 bridge concepts supportedContinue through this bridge:Evernorth SG&A Ratio
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Compare issuer-defined Evernorth pre-tax margin while preserving its adjusted numerator and denominator.
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