Cigna Corporation

CI · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$73,521	$76,809	$87,625	$101,304	$76,106	$68,997	$67,774	$62,945	$67,310	$44,209	$48,498	$27,157	$24,433	$15,226	$11,369	$10,003	$9,666	$4,673	$15,216	$14,515	$14,224	$11,129	$8,041	$5,800	$13,963	$20,636	$15,668	$16,321	$12,668	$10,417	$7,828	$4,602	$4,493	$4,193	$4,381	$3,103	$4,734	$3,715	$3,476	$4,198	$4,415
Enterprise value	$96,413	$100,776	$109,829	$126,041	$104,388	$91,053	$100,262	$99,530	$67,641	$45,427	$51,396	$30,805	$26,131	$17,549	$11,548	$11,082	$10,801	$5,486	$2,285	$2,006	($2,072)	($6,670)	($21,282)	($23,373)	($11,428)	($7,314)	($9,838)	($19,194)	($25,499)	($27,871)	($31,844)	($31,025)	($30,965)	($26,547)	($23,959)	($23,014)	($19,910)	$4,358	$3,792	$4,710	$4,753
P/E (TTM) at period end	12.34×	22.37×	16.97×	15.11×	14.17×	8.16×	13.28×	23.87×	30.09×	23.68×	23.16×	12.92×	16.55×	9.38×	9.02×	7.82×	7.42×	16.00×	13.65×	12.57×	8.75×	7.74×	12.72×	–	14.87×	21.84×	8.83×	12.63×	11.66×	9.86×	37.10×	8.31×	19.20×	13.48×	9.76×	9.40×	8.42×	7.87×	5.07×	7.85×	–
P/S (TTM) at period end	0.27×	0.31×	0.45×	0.56×	0.44×	0.43×	0.44×	1.29×	1.61×	1.11×	1.28×	0.78×	0.75×	0.52×	0.53×	0.47×	0.52×	0.24×	0.86×	0.88×	0.85×	0.61×	0.43×	0.30×	0.75×	1.06×	0.84×	0.92×	1.08×	0.55×	0.41×	0.25×	0.33×	0.30×	0.31×	0.22×	0.41×	–	–	–	–
P/B at period end	1.76×	1.87×	1.90×	2.27×	1.62×	1.37×	1.49×	1.53×	4.91×	3.22×	4.03×	2.52×	2.31×	1.56×	1.36×	1.51×	1.78×	1.30×	3.20×	3.35×	2.65×	2.14×	1.78×	1.50×	2.76×	3.81×	2.55×	1.97×	1.60×	1.45×	1.09×	0.79×	0.68×	0.73×	0.75×	0.59×	0.86×	0.71×	0.70×	0.91×	1.18×
EV / EBITDA (TTM)	8.05×	8.27×	9.49×	11.07×	9.61×	8.31×	8.55×	20.50×	15.00×	12.28×	3.97×	2.53×	0.79×	5.11×	5.20×	5.29×	4.99×	8.76×	1.25×	1.03×	(1.03×)	(2.56×)	(18.52×)	–	(9.34×)	(4.26×)	(6.81×)	(9.25×)	–	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	0.35×	0.41×	0.56×	0.70×	0.60×	0.57×	0.65×	2.05×	1.62×	1.14×	1.36×	0.88×	0.81×	0.60×	0.53×	0.53×	0.59×	0.29×	0.13×	0.12×	(0.12×)	(0.37×)	(1.13×)	(1.21×)	(0.61×)	(0.37×)	(0.53×)	(1.09×)	(2.16×)	(1.47×)	(1.68×)	(1.69×)	(2.26×)	(1.91×)	(1.68×)	(1.65×)	(1.73×)	–	–	–	–
Returns
Return on equity	14.3%	8.4%	11.2%	15.0%	11.4%	16.8%	11.3%	6.4%	16.3%	13.6%	17.4%	19.5%	14.0%	16.6%	15.1%	19.2%	24.0%	8.1%	23.5%	26.7%	30.3%	27.6%	14.0%	(11.6%)	18.6%	17.5%	28.9%	15.6%	13.7%	14.7%	2.9%	9.5%	3.6%	5.4%	7.7%	6.3%	10.2%	9.0%	13.8%	11.6%	(22.8%)
Return on invested capital	11.3%	10.3%	12.0%	9.7%	8.3%	8.7%	8.0%	3.9%	15.1%	12.3%	50.7%	50.4%	170.5%	15.6%	14.4%	16.2%	18.5%	6.2%	24.5%	25.1%	25.1%	38.3%	13.4%	(10.1%)	20.6%	33.1%	13.1%	17.1%	(88.5%)	14.6%	3.0%	9.6%	–	–	–	–	–	9.7%	15.7%	13.6%	(20.9%)
Dividend yield	2.2%	2.0%	1.7%	1.4%	1.8%	0.0%	0.0%	–	–	–	–	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.3%	0.1%	0.1%	0.1%	0.9%	2.3%	3.2%	1.4%	1.0%	1.5%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.85×	0.84×	0.77×	0.73×	0.83×	0.77×	0.74×	0.64×	0.85×	1.63×	2.37×	1.90×	–	(2.30×)	433.49×	73.21×	377.64×	120.28×	12552.33×	104.79×	426.03×	–	–	663.48×	1774.08×	632.40×	1625.67×	15.80×	14.45×	17.29×	16.13×	16.81×	235.85×	154.11×	167.02×	102.16×	189.45×	–	–	–	–
Debt / equity	0.75×	0.78×	0.67×	0.70×	0.71×	0.65×	0.83×	1.04×	0.39×	0.36×	0.43×	0.47×	0.47×	0.53×	0.61×	0.43×	0.47×	0.67×	0.38×	0.39×	0.27×	0.28×	0.33×	0.42×	0.33×	0.24×	0.23×	0.21×	0.27×	0.18×	0.21×	0.29×	0.24×	0.24×	0.21×	0.27×	0.17×	0.12×	0.06×	0.11×	0.09×
Effective tax rate	19.2%	28.3%	2.6%	19.2%	20.2%	21.9%	22.1%	26.1%	38.1%	38.1%	37.6%	36.6%	32.1%	34.4%	32.8%	28.8%	31.3%	24.1%	31.3%	33.0%	28.8%	33.6%	31.1%	30.2%	–	–	42.7%	36.2%	–	34.0%	15.9%	31.2%	–	–	–	–	–	–	–	–	–
Share count
Diluted shares outstanding	269	283	297	313	341	368	380	250	244	260	261	269	285	290	274	275	275	279	283	337	389	414	421	423	452	485	592	641	668	687	664	653	645	644	645	683	708	709	714	687	618

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$282,382	$274,900	$247,121	$195,265	$180,518	$174,069	$160,401	$153,566	$48,650	$41,806	$39,838	$37,876	$34,914	$32,380	$29,119	$21,631	$21,073	$18,414	$19,101	$17,623	$16,547	$16,684	$18,176	$18,808	$19,348	$18,607	$19,526	$18,726	$17,651	$11,781	$18,950	$18,955	$18,392	$13,712	$13,924	$14,295	$13,986	$11,494	–	–	–	–
Cost of revenue	–	–	–	–	–	–	–	–	–	($2,456)	($2,468)	($25,424)	($23,241)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Gross profit	–	–	–	–	–	–	–	–	–	$39,350	$37,370	$12,452	$11,673	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($14,163)	($14,617)	($14,844)	($14,822)	($13,174)	($13,012)	($14,072)	($14,053)	($11,934)	($10,030)	($9,790)	($92)	($85)	–	–	($5,901)	($5,744)	($5,284)	($5,531)	($4,742)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	–	–	–	–	–	–	–	–	–	($35,408)	($34,282)	($92)	($85)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total costs and expenses	($272,425)	($265,700)	($237,704)	($186,729)	($172,068)	($166,128)	($152,248)	($145,489)	($44,490)	($37,864)	($36,750)	($25,516)	($23,326)	–	($26,244)	($19,755)	($19,271)	($16,516)	($18,719)	($15,992)	($14,816)	($14,891)	($15,801)	($17,905)	($19,917)	($17,618)	($18,029)	($17,507)	($15,793)	($18,388)	($17,349)	($18,704)	($17,587)	–	–	–	–	–	$570	$833	$701	($855)
Operating income	$9,957	$9,200	$9,417	$8,536	$8,450	$7,941	$8,153	$8,077	$4,160	$3,942	$3,088	$12,360	$11,588	$32,380	$2,875	$1,876	$1,802	$1,898	$382	$1,631	$1,731	$1,793	$2,375	$903	($569)	$989	$1,497	$1,219	$1,858	($6,607)	$1,601	$251	$805	–	–	–	–	–	$570	$833	$701	($855)
Earnings
EBITDA	$12,681	$11,975	$12,192	$11,571	$11,387	$10,864	$10,955	$11,728	$4,855	$4,508	$3,698	$12,945	$12,176	$32,977	$3,435	$2,221	$2,094	$2,166	$626	$1,825	$1,939	$2,014	$2,605	$1,149	($348)	$1,224	$1,718	$1,444	$2,076	($6,428)	–	–	–	–	–	–	–	–	–	–	–	–
Interest income	$1,022	$1,022	($1,764)	$1,088	$1,155	$1,747	$1,393	$1,567	$1,399	–	–	–	–	–	$268	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,379)	($1,400)	($1,500)	($1,400)	($1,300)	($1,300)	($1,400)	($1,600)	($507)	($243)	($251)	–	–	($264)	–	($202)	($182)	($166)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$8,639	$7,781	$5,269	$5,513	$8,397	$6,790	$10,868	$6,570	$3,581	$3,606	$2,979	$3,327	$3,304	$2,176	$2,477	$1,876	$1,802	$1,898	$382	$1,631	$1,731	$1,793	$2,375	$848	($569)	–	–	$1,219	$1,858	–	$1,601	$251	$805	–	–	–	–	–	–	–	–	–
Income tax expense	($1,656)	($1,493)	($1,491)	($141)	($1,615)	($1,370)	($2,379)	($1,450)	($935)	($1,374)	($1,136)	($1,250)	($1,210)	($698)	($853)	($615)	($519)	($594)	($92)	($511)	($572)	($517)	($798)	($264)	$172	($498)	($506)	($520)	($672)	($416)	($545)	($40)	($251)	$69	$158	($131)	($34)	($134)	($98)	($147)	($166)	$0
Net income	$6,456	$5,957	$3,434	$5,164	$6,704	$5,370	$8,458	$5,104	$2,637	$2,237	$1,867	$2,094	$2,102	$1,476	$1,623	$1,260	$1,279	$1,302	$292	$1,115	$1,155	$1,625	$1,438	$632	($447)	$939	$945	$1,774	$1,292	$1,086	$1,056	$211	$554	$234	$311	$449	$330	$562	$472	$686	$535	($855)
Per share
Diluted EPS (GAAP)	$24.17	$22.18	$12.12	$17.39	$21.41	$15.75	$22.96	$13.44	$10.54	$8.77	$7.19	$8.04	$7.83	$5.18	$5.61	$4.59	$4.65	$4.73	$1.05	$3.87	$3.43	$4.17	$3.48	$1.50	($1.06)	$2.08	$1.95	$3.00	$2.02	$1.63	$1.54	$0.32	$0.85	$0.36	$0.48	$0.70	$0.48	$0.78	$0.67	$0.96	$0.78	($1.38)
Basic EPS (GAAP)	$24.27	$22.33	$12.25	$17.57	$21.66	$15.89	$23.17	$13.58	$10.69	$8.92	$7.31	$8.17	$7.97	$5.28	$5.70	$4.65	$4.69	$4.75	$1.05	$3.94	$3.49	$4.25	$3.51	$1.51	($1.06)	$2.08	$1.96	$3.04	$2.04	$1.64	$1.54	$0.32	$0.85	$0.36	$0.48	$0.70	$0.48	$0.78	$0.67	$0.96	$0.78	($1.38)
Basic shares outstanding	264	267	280	294	310	338	365	376	247	244	255	256	264	279	285	271	273	274	277	283	331	382	409	419	423	452	482	584	633	662	686	664	651	645	644	645	683	708	709	714	687	618
Margins
Gross margin	–	–	–	–	–	–	–	–	–	94.1%	93.8%	32.9%	33.4%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating margin	3.5%	3.3%	3.8%	4.4%	4.7%	4.6%	5.1%	5.3%	8.6%	9.4%	7.8%	32.6%	33.2%	100.0%	9.9%	8.7%	8.6%	10.3%	2.0%	9.3%	10.5%	10.7%	13.1%	4.8%	(2.9%)	5.3%	7.7%	6.5%	10.5%	(56.1%)	8.4%	1.3%	4.4%	–	–	–	–	–	–	–	–	–
Net margin	2.3%	2.2%	1.4%	2.6%	3.7%	3.1%	5.3%	3.3%	5.4%	5.4%	4.7%	5.5%	6.0%	4.6%	5.6%	5.8%	6.1%	7.1%	1.5%	6.3%	7.0%	9.7%	7.9%	3.4%	(2.3%)	5.0%	4.8%	9.5%	7.3%	9.2%	5.6%	1.1%	3.0%	1.7%	2.2%	3.1%	2.4%	4.9%	–	–	–	–

Analyst consensus

Buy39 analysts

Bearish · 0 · Hold · 10 · Bullish · 29

Earnings history

	EPS	Estimate
Q3 2024	$7.51	$7.23	Beat
Q4 2024	$6.64	$7.84	Miss
Q1 2025	$6.74	$6.35	Beat
Q2 2025	$7.20	$7.16	Beat
Q3 2025	$7.83	$7.64	Beat
Q4 2025	$8.08	$7.88	Beat
Q1 2026	$7.79	$7.60	Beat
Q2 2026	$7.78	$7.60	Beat

Peers

Company overview

IPO dateMar 31, 1982

CEOBrian C. Evanko

Employees66,685

SectorHealthcare

IndustryMedical - Healthcare Plans

CountryUS

ExchangeNew York Stock Exchange

Websitewww.thecignagroup.com

Cigna Group, established in 1792 and headquartered in Bloomfield, Connecticut, provides insurance products and related services across the United States. The company operates through two primary segments. Its Evernorth division offers a comprehensive array of coordinated and specialized health solutions, including pharmacy services, benefits administration, care management and delivery, and advanced intelligence solutions. These offerings cater to a diverse clientele, such as health plans, employers, government entities, and healthcare providers. Meanwhile, the Cigna Healthcare segment delivers an extensive portfolio of products and services, encompassing medical, pharmaceutical, behavioral health, dental, vision, and health advocacy programs for both insured and self-insured customers. This segment also provides Medicare Advantage, Medicare Supplement, and Medicare Part D plans specifically for seniors, in addition to individual health insurance options available on and off public exchanges. Globally, Cigna Healthcare extends international health coverage and benefits to mobile professionals and employees of multinational organizations. Furthermore, the company issues permanent insurance contracts to corporations, designed to cover the lives of specific employees for funding future benefit obligations. Cigna distributes its various offerings through insurance brokers and consultants, direct sales channels to employers, unions, and individuals, and via both private and public exchanges.

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