Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM and specialty pharmacy services, which were greatly expanded by its 2018 merger with Express Scripts, are mostly sold to health insurance plans and employers.
It is a $74.6B healthcare company. Revenue grew 7.8% over the last year, it keeps 2¢ of every dollar of sales as profit, and its net debt equals ~2.2 years of free cash flow. It trades at 11.6× earnings — in the cheapest third of its own history.
- Website
- thecignagroup.com
- Location
- Bloomfield, CT
- Employees
- 67 700
- Sector
- Healthcare
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation; Profitability, Health and Moat lag behind.
Valuation95
- P/E vs own history21th pct · 20/25
- FCF yield13.8% · 25/25
- P/S0.3x · 25/25
- EV/EBITDA8.6x · 25/25
Growth51
- Revenue CAGR12.1% · 20/25
- Net income CAGR2.7% · 6/25
- EPS CAGR ~5Y-0.7% · 0/25
- Fwd implied growth38.7% · 25/25
Profitability43
- ROIC9.2% · 12/25
- ROE15.2% · 20/25
- Net margin2.3% · 6/25
- Operating margin3.5% · 5/25
Health46
- Altman Z1.77 · 10/25
- Current ratio0.85 · 6/25
- Interest coverage6.4x · 18/25
- Net cash / debtD/A 14% · 12/25
Quality70
- Piotroski F8/9 · 25/25
- Beneish M-2.45 · 20/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 1.2% · 25/25
Moat25
- ROIC >12% years0/8 yrs · 0/25
- Median gross margin32.0% · 13/25
- FCF-positive yearsn/a · 0/25
- Worst-year net marginworst 1.4% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2025AcquisitionHCSC announced that its newly acquired Cigna Medicare Advantage products will be renamed Healthspring
- Feb 13, 2023MilestoneCigna renamed its holding company The Cigna Group, its health benefits provider business unit…
- 2021AcquisitionMolina Healthcare acquired Cigna's Medicaid contracts in Texas for US$60 million
- FY2020FinancialBest year on record$8.46B net income
- Aug 31, 2020AcquisitionThe legal saga came to an end with an August 31, 2020 decision denying both companies claims for compensation from…
- 2020MilestoneCigna rebranded its health services portfolio under the name Evernorth
- FY2019FinancialRevenue crossed $50B$154B for the year
- FY2019FinancialRevenue crossed $100B$154B for the year
- FY2018FinancialProfitable every year on record8 consecutive profitable years in our data
- FY2018FinancialRevenue already above $10B$48.6B in first reported year
- FY2018FinancialPositive free cash flow every year since8-year streak
- Mar 7, 2018AcquisitionIt was announced that Cigna would acquire Express Scripts in a $67 billion deal and on August 24,…
- Jul 21, 2016AcquisitionThe US Justice Department filed an antitrust suit to block the proposed merger
- 2015AcquisitionU.S. health insurer Anthem Inc. announced that it would acquire Cigna for $47 billion in cash and stock
- 1982AcquisitionCigna was formed by the 1982 merger of the Connecticut General Life Insurance Company (CG) and INA Corporation (the…
- 1865ProductInsurance Company of North America was formed in 1792, while CG was created in 1865 by a special act of the Governor…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Interest covered 6.4× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
- Altman Z-Score 1.77 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.8% YoY
- Profitable — makes more than it spends$6.42B TTM
- Profit growing — earnings are higher than last year+1.4% YoY
- Generates cash — cash left after running and investing$10.3B TTM
- Debt under control — could handle its obligations~2.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$74.6B market cap
- Not printing shares — share count not ballooning — you keep your slice-27.1% shares over ~5y
- Proven track record — years of profitability behind it8/8 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.8 — distress
- Pays a dividend — returns cash to shareholdersyield 2.18%
- Valuation not extreme — price not wildly above earningsP/E 11.6
Peer comparisonThe Cigna Group vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| CI this company | $74.6B | 11.6 | +7.8% | 2.3% | Mixed |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: CI vs LLY · CI vs JNJ · CI vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2018–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/CI
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Deeper analysis of CI on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $282.43 · market cap $74.6B.