The Cigna Group CI

Health CareHealthcare Providers & ServicesUnited States of America

Last close 295.19 USD on Nov 2, 2026, +9.1% year to date

Quant rating

Quant rating A Rank 59 of 565 in Health Care

Growth B 202 of 565
Valuation A 26 of 565
Quality A 58 of 565
Revisions B 202 of 565
Momentum C 234 of 565

Wall Street consensus Buy (2.08)Average target 337.09 USD +14.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 78.0B
Enterprise value: 102.9B
52-week range: 239.51 – 316.16
3-year range: 239.51 – 366.85
Dividend yield: 2.09%
Beta (5 years): 0.25
Shares outstanding: 264M
Next earnings: Nov 5, 2026

About the company

The Cigna Group is a global health company. The Company has two segments: Evernorth Health Services and Cigna Healthcare. Evernorth Health Services includes its Pharmacy Benefit Services and Specialty and Care Services operating segments, which provide independent and coordinated health solutions and capabilities to enable the healthcare system to work better and help people live richer, healthier lives. Cigna Healthcare includes the U.S. Healthcare and International Health operating segments, which provide comprehensive medical and coordinated solutions to customers and clients. Its Other Operations include corporate-owned life insurance (COLI), the Company's run-off operations and other non-strategic businesses. Specialty and Care Services provides specialty drugs for the treatment of complex and rare diseases, specialty distribution of pharmaceuticals and medical supplies, as well as clinical programs to help the clients.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	274,900	247,121	195,265	180,518	174,069	–
Revenue growth	11.2%	26.6%	8.2%	3.7%	8.7%	11.4%
EPS (basic, normalized)	29.84	27.33	25.09	23.27	20.47	–
EPS growth	9.2%	8.9%	7.8%	13.7%	–	–
Gross margin	9.3%	10.5%	12.9%	13.0%	13.2%	11.8%
Net margin	2.2%	1.4%	2.6%	3.7%	3.1%	2.6%
ROE	14.4%	7.9%	11.4%	14.6%	11.0%	11.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	7,257
Current ratio	0.85x
Long-term debt (mil)	29,086
Net debt (mil)	24,911
Total equity (mil)	42,620
Net debt / equity	0.58x
Net debt / EBITDA	2.49x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	274,900	+11.2%	0.4x	9,996	−22.7%	10.3x	29.84	+9.2%	9.9x
2026	288,023	+4.8%	0.4x	13,324	+33.3%	7.7x	30.51	+2.3%	9.7x
2027	300,199	+4.2%	0.3x	14,243	+6.9%	7.2x	33.49	+9.8%	8.8x
2028	316,897	+5.6%	0.3x	14,924	+4.8%	6.9x	37.13	+10.9%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	288,023	0.0%	+0.2%	+0.9%	30.51	0.0%	+0.1%	+0.4%
2027	300,199	0.0%	0.0%	+0.3%	33.49	0.0%	+0.1%	−0.1%
2028	316,897	0.0%	−0.2%	+0.3%	37.13	0.0%	−0.2%	−0.1%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	57,255	60,523	63,699	65,649	65,502	67,178	69,748	72,472	68,494	71,558
Sales mean (mil)	56,517	58,329	59,349	63,360	60,385	62,462	67,110	69,831	66,370	70,339
Surprise	+1.3%	+3.8%	+7.3%	+3.6%	+8.5%	+7.6%	+3.9%	+3.8%	+3.2%	+1.7%
EPS reported	6.47	6.72	7.51	6.64	6.74	7.20	7.83	8.08	7.79	7.78
EPS mean	6.22	6.41	7.20	7.82	6.35	7.15	7.65	7.88	7.61	7.60
Surprise	+4.0%	+4.9%	+4.3%	−15.1%	+6.1%	+0.6%	+2.4%	+2.6%	+2.3%	+2.4%

Peer comparison Healthcare Providers & Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CI The Cigna Group	78.0B	2.49x	2.2%	1.83x	9.7x	8.8x	7.7x	7.2x
UNH UnitedHealth Group Incorporated	359.4B	–	2.7%	3.45x	19.4x	17.1x	13.1x	11.9x
CVS CVS Health Corporation	113.2B	2.50x	0.4%	1.42x	11.0x	10.4x	8.3x	7.9x
HCA HCA Healthcare, Inc.	97.7B	3.41x	9.0%	−12.21x	15.6x	14.9x	9.5x	9.4x
ELV Elevance Health Inc	89.4B	–	2.8%	2.00x	14.2x	13.7x	10.0x	10.3x
HUM Humana Inc.	49.3B	–	0.9%	2.57x	44.8x	24.0x	19.9x	13.1x
Mean		2.80x	3.0%	−0.16x	19.1x	14.8x	11.4x	10.0x
Median		2.50x	2.4%	1.91x	14.9x	14.3x	9.7x	9.8x

Technical analysis

1M+9.1%
3M+6.4%
1Y+23.5%
3Y−1.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, The Cigna Group, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	274,900	247,121	195,265	180,518	174,069	160,197
Cost of revenue	249,340	221,157	170,088	157,018	151,118	136,194
Gross profit	25,560	25,964	25,177	23,500	22,951	24,003
Selling, general & administrative expenses	13,558	14,569	14,324	13,045	12,702	13,088
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,743	1,703	1,819	1,876	1,998	1,982
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	1,046	433	1,997	−1,533	451	−3,726
Other operating expenses	0	0	0	0	0	502
Operating income	9,213	9,259	7,037	10,112	7,800	12,157
Net interest income (expense)	−1,432	−3,990	−1,524	−1,715	−1,010	−1,289
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	7,781	5,269	5,513	8,397	6,790	10,868
Provision for taxes	1,493	1,491	141	1,615	1,370	2,379
Minority interest	−331	−344	−208	−78.0	−50.0	−31.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	5,957	3,434	5,164	6,704	5,370	8,458
Extraordinary items	–	–	–	–	–	–
Net income	5,957	3,434	5,164	6,704	5,370	8,458
EBIT, normalized	10,259	9,692	9,034	8,579	8,251	8,431
EBITDA, normalized	13,228	12,664	12,329	11,774	11,599	11,233
Basic EPS, normalized	29.84	27.33	25.09	23.27	20.47	–

Balance sheet in millions of USD, fiscal years

Balance sheet, The Cigna Group, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	8,732	8,215	8,747	6,829	6,001	11,513
Receivables	28,768	24,227	17,722	17,218	15,071	12,191
Total inventory	7,338	6,692	5,645	4,777	3,722	3,165
Prepaid expenses	–	–	–	–	–	–
Other current assets	2,976	9,736	5,237	1,298	11,340	930
Total current assets	47,814	48,870	37,351	30,122	36,134	27,799
Property, plant & equipment	3,651	3,654	4,065	3,774	4,143	4,757
Goodwill	44,924	44,370	44,259	45,811	45,811	44,648
Intangibles	28,560	29,417	30,863	32,492	34,102	35,179
Long-term investments	18,471	15,128	17,985	16,288	18,438	23,262
Note receivable	–	–	–	–	–	–
Other long-term assets	14,499	14,442	18,238	15,398	16,261	19,806
Total assets	157,919	155,881	152,761	143,885	154,889	155,451
Liabilities
Accounts payable	10,659	9,294	8,553	7,775	6,655	5,478
Payable/accrued	–	–	–	–	–	–
Accrued expenses	9,048	9,387	9,955	7,978	7,322	8,515
Short-term debt	0	880	1,237	0	2,027	1,030
Current portion of long-term debt	592	2,155	1,538	2,993	518	2,344
Other current liabilities	36,043	36,263	27,433	22,479	27,050	18,655
Total current liabilities	56,342	57,979	48,716	41,225	43,572	36,022
Long-term debt	30,871	28,937	28,155	28,100	31,125	29,545
Minority interest	161	210	128	79.0	72.0	65.0
Other liabilities	28,832	27,722	29,539	29,806	33,008	39,498
Total liabilities	116,206	114,848	106,538	99,210	107,777	105,130
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4.0	4.0	4.0	4.0	4.0	4.0
Additional paid-in capital	31,790	31,288	30,669	30,233	29,574	28,975
Retained earnings (accumulated deficit)	47,865	43,519	41,652	37,940	32,593	28,575
Treasury stock	−35,140	−31,437	−24,238	−21,844	−14,175	−6,372
Other equity	−2,806	−2,341	−1,864	−1,658	−884	−861
Total equity	41,713	41,033	46,223	44,675	47,112	50,321
Total liabilities & shareholders' equity	157,919	155,881	152,761	143,885	154,889	155,451

Cash flow statement in millions of USD, fiscal years

Cash flow statement, The Cigna Group, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	6,288	3,778	5,372	6,746	5,415	8,489
Depreciation, depletion & amortization	2,775	2,775	3,035	2,937	2,923	2,802
Deferred taxes	326	−95.0	−1,659	−480	−220	−386
Non-cash items	11.0	2,713	1,577	−1,167	−55.0	−4,153
Changes in working capital	201	1,192	3,488	620	−872	3,598
Cash from operations	9,601	10,363	11,813	8,656	7,191	10,350
Investing activities
Capital expenditures	−1,212	−1,406	−1,573	−1,295	−1,154	−1,094
Other investing cash flows	−3,195	−696	−3,601	4,393	−2,457	4,070
Cash from investing	−4,407	−2,102	−5,174	3,098	−3,611	2,976
Financing activities
Financing cash flow items	−725	−411	−469	−79.0	24.0	−131
Cash dividends paid	−1,611	−1,567	−1,450	−1,384	−1,341	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−4,085	−5,669	−2,375	−9,777	−6,895	−8,402
Cash from financing	−6,421	−7,647	−4,294	−11,240	−8,212	−8,533
Foreign exchange effects	32.0	−20.0	16.0	−86.0	−65.0	41.0
Net change in cash	−1,195	594	2,361	428	−4,697	4,834
Free cash flow	8,389	8,957	10,240	7,361	6,037	9,256

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.