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Cigna Group (CI)

Fair Value
HealthcareHealthcare PlansUnited States

Fundamental

78

Price

$264.93

Market Cap

$71.83B

Part 1 · What the company is worth

Overview

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. It operates through two segments: Evernorth Health Services and Cigna Healthcare. The Evernorth Health Services segment includes Pharmacy Benefit Services and Specialty and Care Services, offering pharmacy benefit management, drug claim adjudication, retail pharmacy network administration, benefit design consultation, drug utilization review, drug formulary management, pharmacy benefits, home delivery pharmacy, specialty pharmacy, specialty pharmaceutical distribution, and clinical programs for whole-person health outcomes. The Cigna Healthcare segment comprises U.S. Healthcare and International Health, delivering comprehensive medical and coordinated solutions such as employer medical plans, individual and family plans, behavioral health, consumer health engagement, dental, pharmacy management, stop-loss insurance, global health care, and local health care solutions, as well as health care benefits for mobile individuals and employees of multinational organizations. The company offers other operations, including corporate-owned life insurance, reinsurance, and certain run-off and non-strategic businesses. The company distributes its products and services through brokers and consultants; directly to employers, unions and other groups, or individuals; and private and public exchanges. The company was formerly known as Cigna Corporation and changed its name to The Cigna Group in February 2023. The company was founded in 1792 and is headquartered in Bloomfield, Connecticut.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

Compare

Generated on September 18, 2026 with claude-haiku-4-5 — shared with all users

P/E: 23.6Score: 70Market cap: $336.61B

It is the closest mirror image of Cigna, selling employer-sponsored health plans to the same large US corporate clients while its Optum Rx pharmacy benefit manager bids against Evernorth's Express Scripts for the same drug-benefit contracts.

P/E: 22.6Score: 58Market cap: $112.36B

Through Aetna it competes for the same commercial and employer health members, and through CVS Caremark it is one of the three pharmacy benefit managers that split the US market with Express Scripts.

P/E: 15.7Score: 69Market cap: $85.57B

As the largest Blue Cross Blue Shield operator it bids for the same employer and individual health plans in overlapping US states, and its CarelonRx unit competes directly with Evernorth on pharmacy benefits.

P/E: —Score: 53Market cap: $30.89B

It is the biggest insurer on the US individual insurance marketplaces, where it competes with Cigna Healthcare for the same subsidised individual customers state by state.

Health Care Service CorporationNot tracked

This mutual Blue Cross insurer covering Illinois, Texas and three other states is the fifth-largest US commercial carrier and now also owns the Medicare business Cigna sold it in March 2025, putting the two head to head on national employer accounts.

Balance Sheet & Liquidity

Revenue

$282.38B

Trailing 12 months (through 6/30/2026)

Net Income

$6.42B

Trailing 12 months (through 6/30/2026)

Free Cash Flow

-

Total Equity

$41.71B

Total Liabilities

$116.05B

Current Ratio

0.85

Interest Coverage

7.03

Debt/EBITDA

2.75

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$324.54

Current Price

$264.93

Margin of Safety

+18.4%

Fair Value Range

$210.95 - $438.13

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$341.83
Discounted cash flow (DCF):$577.79
Earnings multiple (P/E):$202.71
Graham growth formula:$180.79
Earnings power value (EPV):$371.86
Justified P/B:$444.89
Dividend discount (Gordon):$155.93
P/FFO, funds from operations:$528.73
Mid-cycle earnings:$1027.21
Revenue multiple:$4214.84
Analyst Consensus:Strong Buy (26B / 8H / 0S)
Last Earnings Surprise:-0.59%

Valuation Metrics

P/E Ratio

11.25

ROE

14.3%

P/B Ratio

1.69

P/FCF

-

Gross Margin

20.6%

ROIC

7.8%

Profitability Radar

Value Creation (Economic Moat)

ROIC

7.8%

WACC

6.5%

ROIC − WACC

+1.2 pp

ROIC exceeds the cost of capital — the company is creating value for shareholders.

Fundamental Analysis Criteria

Passed (18)

  • EPS shows upward trend
  • EPS CAGR 13.33%
  • Price CAGR 7.73%
  • ROIC 7.7%
  • P/B Ratio 1.69
  • Debt/Equity ratio
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Price below Graham Number
  • ROE 15.2%
  • Revenue Growth 5Y 11.4%
  • Analyst Consensus 76% Buy
  • Earnings Quality (OCF/NI) 1.60
  • Share Dilution -5.2%
  • Net Margin Trend 2.3% vs 1.9%
  • Piotroski F-Score 8/9

Failed (5)

  • Gross Margin 20.6%
  • Operating Margin 3.5%
  • Low reliance on intangibles
  • DCF valuation (Fairly valued)
  • Earnings Surprise avg -0.6%

Unavailable (5)

  • P/FCF NaN
  • Dividend Payout NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

8/9

Strong financial health

score
criteria

Earnings Quality

1.60

High quality: earnings backed by cash

Share Dilution

-5.2%

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. David Michael CordaniExecutive Chairman of the Board60
Mr. Brian Case Evanko C.F.A.President, CEO & Director48
Ms. Ann M. DennisonExecutive VP & CFO54
Ms. Nicole Susan Jones J.D.Executive Vice President, Chief Administrative Officer & Chief Human Resources Officer54
Mr. F. Everett NevilleExecutive VP & Special Advisor to the CEO60
Ms. Jamie KatesSenior VP & Tax and Global Chief Accounting Officer44
Mr. Durga Prasad KokaExecutive Vice President & Global Chief Information Officer-
Mr. Ralph GiacobbeSenior Vice President of Investor Relations-
Ms. Andrea NelsonEVP, General Counsel & Corporate Secretary-
Ms. Melissa SkottegaardExecutive Vice President, Chief Marketing & Communications Officer-

Audit Risk

1

Board Risk

4

Compensation Risk

7

Shareholder Rights Risk

7

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-26

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-07-30

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-09-30

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Latest News

Recent headlines for CI, sourced from Markets Gazette.

  • 24d agoNEUTRAL
    Cigna Healthcare on Business Strategy

    Jason Sadler, International Health Global President at Cigna Healthcare, provided insights into the company's business strategy, addressing the dual forces of increasing AI adoption and escalating healthcare expenditures. While the discussion highlights Cigna's navigation of these significant industry trends, it does not present specific financial figures or forward-looking guidance that would indicate a definitive positive or negative impact on the company's immediate stock performance. Investors will monitor Cigna's strategic execution in response to these evolving market dynamics.

  • 5/22/2026NEUTRAL
    Here's How Much You Would Have Made Owning Cigna Group Stock In The Last 20 Years

    An analysis of The Cigna Group's stock performance over the past two decades reveals a significant historical return for investors. While specific figures are not detailed in this summary, the article implies substantial long-term gains. This historical perspective is crucial for investors evaluating Cigna's potential for future growth and stability, offering insights into its resilience and market position through various economic cycles. The focus remains on past performance rather than current catalysts.

  • 3/6/2026POSITIVE
    Here's How Much $1000 Invested In Cigna Group 15 Years Ago Would Be Worth Today

    An investment of $1000 in Cigna Group 15 years ago would have grown to approximately $10,500 today, representing a substantial return on investment. This performance highlights the company's long-term growth trajectory and its ability to generate significant shareholder value over an extended period. Investors who held Cigna stock through various market cycles would have benefited from its strategic initiatives and market positioning within the health insurance and services sector. The impressive growth suggests a robust business model and effective management.

  • 3/3/2026NEGATIVE
    Cigna Stock Falls After CEO Retirement Announcement

    Shares of The Cigna Group (NYSE:CI) experienced a significant decline on Tuesday, following the announcement of CEO David Cordani's retirement. The news immediately triggered a negative market reaction, highlighting investor sensitivity to leadership changes in major corporations. Cordani, a key figure for the healthcare giant, leaves a void that generates uncertainty about the company's future strategic and operational direction. Analysts suggest that the leadership transition could lead to a period of volatility for the stock, as the market awaits clarity on subsequent plans and the identity of the successor. For investors, this event underscores the importance of managerial stability in complex sectors like healthcare.

  • 3/3/2026NEUTRAL
    Cigna’s longtime CEO to step down as health insurers face growing scrutiny

    Cigna Group, a major player in the health insurance sector, has announced a significant leadership transition. David Cordani, who has served as CEO for an impressive 27 years, will step down. He will be succeeded by Brian Evanko, a seasoned company veteran, ensuring a degree of continuity in leadership. This change comes at a time when health insurers are facing increased scrutiny, adding complexity to the new CEO's mandate. For investors, the appointment of an internal successor like Evanko suggests a focus on stability and a continuation of existing strategies, potentially mitigating immediate market volatility. However, the broader industry challenges mean Evanko will need to navigate a demanding regulatory and competitive landscape, making his strategic direction crucial for Cigna's future performance.

via Markets Gazette