# The Cigna Group (CI) — Stock CV

The Cigna Group 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.

> 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.

## Identity

- **Ticker**: CI
- **Sector**: Healthcare
- **Industry**: Healthcare Plans
- **Headquarters**: BLOOMFIELD, CT
- **Employees**: 67 700
- **Website**: https://www.thecignagroup.com
- **Market cap**: $74.6B
- **Last price**: $282.43
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $282B
- **Net income**: $6.42B
- **Free cash flow**: $10.3B
- **Net debt**: $22.7B
- **P/E**: 11.6
- **Revenue growth (YoY)**: 7.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 95 |
| Growth | 51 |
| Profitability | 43 |
| Health | 46 |
| Quality | 70 |
| Moat | 25 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +7.8% YoY
- [x] Profitable — $6.42B TTM
- [x] Profit growing — +1.4% YoY
- [x] Generates cash — $10.3B TTM
- [x] Debt under control — ~2.2y of cash flow to repay
- [x] Established company — $74.6B market cap
- [x] Not printing shares — -27.1% shares over ~5y
- [x] Proven track record — 8/8 profitable years
- [ ] Financially stable — Altman Z 1.8 — distress
- [x] Pays a dividend — yield 2.18%
- [x] Valuation not extreme — P/E 11.6

## Experience (career milestones)

- **2025** — HCSC announced that its newly acquired Cigna Medicare Advantage products will be renamed Healthspring
- **Feb 13, 2023** — Cigna renamed its holding company The Cigna Group, its health benefits provider business unit…
- **2021** — Molina Healthcare acquired Cigna's Medicaid contracts in Texas for US$60 million
- **FY2020** — Best year on record: $8.46B net income
- **Aug 31, 2020** — The legal saga came to an end with an August 31, 2020 decision denying both companies claims for compensation from…
- **2020** — Cigna rebranded its health services portfolio under the name Evernorth
- **FY2019** — Revenue crossed $50B: $154B for the year
- **FY2019** — Revenue crossed $100B: $154B for the year
- **FY2018** — Profitable every year on record: 8 consecutive profitable years in our data
- **FY2018** — Revenue already above $10B: $48.6B in first reported year
- **FY2018** — Positive free cash flow every year since: 8-year streak
- **Mar 7, 2018** — It was announced that Cigna would acquire Express Scripts in a $67 billion deal and on August 24,…
- **Jul 21, 2016** — The US Justice Department filed an antitrust suit to block the proposed merger
- **2015** — U.S. health insurer Anthem Inc. announced that it would acquire Cigna for $47 billion in cash and stock
- **1982** — Cigna was formed by the 1982 merger of the Connecticut General Life Insurance Company (CG) and INA Corporation (the…
- **1865** — Insurance Company of North America was formed in 1792, while CG was created in 1865 by a special act of the Governor…

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $174B | $5.37B | $7.19B |
| FY2022 | $181B | $6.67B | $8.66B |
| FY2023 | $195B | $5.16B | $11.8B |
| FY2024 | $247B | $3.43B | $10.4B |
| FY2025 | $275B | $5.96B | $9.60B |

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Source: https://stockcv.com/CI — derived from company filings; may be delayed or incomplete. Information, not investment advice.