Cigna Corp (CI)
NYSE:CI
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Cigna
(NYSE:CI)
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Rating:76Outperform
Price Target:
$329.00
▲(18.53% Upside)
Action:ReiteratedDate:03/03/26
The score is driven primarily by solid fundamentals and cash generation, supported by an attractive valuation (low-teens P/E plus dividend). Technicals are constructive with positive momentum. Offsetting factors include margin/medical cost pressure and near-term cash flow headwinds tied to the PBM transition, alongside execution considerations during the CEO handover.
Positive Factors
Consistent free cash flow generation
Cigna’s consistently strong free cash flow that tracks close to reported earnings provides durable funding for dividends, buybacks, and strategic investments. This cash-generation capacity supports capital returns and balance sheet flexibility through cyclical troughs and transformational investments over multiple years.
Negative Factors
Elevated medical cost trends (MCR)
Management’s guidance of a materially higher medical care ratio reflects persistent cost pressures that compress underwriting margins. Sustained elevated MCRs reduce operating earnings leverage, constrain margin recovery even amid revenue growth, and require sustained pricing or utilization improvements to restore prior profitability levels.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent free cash flow generation
Cigna’s consistently strong free cash flow that tracks close to reported earnings provides durable funding for dividends, buybacks, and strategic investments. This cash-generation capacity supports capital returns and balance sheet flexibility through cyclical troughs and transformational investments over multiple years.
Read all positive factors
Cigna (CI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$73.14B
Dividend Yield2.21%
Average Volume (3M)1.74M
Price to Earnings (P/E)12.3
Beta (1Y)0.25
Revenue Growth16.75%
EPS Growth113.48%
CountryUS
Employees71,295
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Plans
Share Statistics
EPS (TTM)8.08
Shares Outstanding263,528,300
10 Day Avg. Volume1,403,970
30 Day Avg. Volume1,737,795
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.75
Price to Sales (P/S)0.27
P/FCF Ratio8.73
Enterprise Value/Market Cap1.34
Enterprise Value/Revenue0.36
Enterprise Value/Gross Profit3.77
Enterprise Value/Ebitda8.17
Forecast
1Y Price Target
$344.08Price Target Upside23.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)30.31
Revenue Forecast (FY)$283.12B
Cigna Business Overview & Revenue Model
Company Description
The Cigna Group provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and managem...
How the Company Makes Money
Cigna generates revenue primarily through premiums collected from its health insurance policies, which include individual, employer-sponsored, and government health plans. The company also earns revenue from its pharmacy benefit management (PBM) s...
Cigna Key Performance Indicators (KPIs)
Any
External Customers Revenue by Type
Shows revenue generated from different types of external customers, highlighting which customer segments are most lucrative and where there may be opportunities for growth or diversification.
Shows revenue generated from different types of external customers, highlighting which customer segments are most lucrative and where there may be opportunities for growth or diversification.
Data provided by:
The Fly
The FlyCigna Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
Overall the call emphasized strong top-line and EPS growth in 2025, robust specialty and EverNorth performance, strategic clarity from the FTC settlement and PBM reform, and continued capital returns. Management acknowledged near-term charges, planned investments for the new rebate-free PBM model that will pressure cash flow and require execution, and elevated medical cost trends that influence MCR guidance. On balance, the positives (sustained revenue and earnings growth, specialty momentum, capital returns, regulatory clarity and a customer-oriented PBM model) outweigh the transitional and cost-related headwinds.Positive Updates
Full-Year Revenue and EPS Growth
Consolidated full-year adjusted revenues of $275 billion, an 11% increase year-over-year, and full-year adjusted earnings per share of $29.84, a 9% increase versus prior year.
Negative Updates
Quarterly Special Item Charges
Recorded after-tax special item charges in Q4 of $483 million, or $1.82 per share, which reduced reported results for the quarter.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and EPS Growth
Consolidated full-year adjusted revenues of $275 billion, an 11% increase year-over-year, and full-year adjusted earnings per share of $29.84, a 9% increase versus prior year.
Read all positive updates
Company Guidance
Cigna guided 2026 consolidated adjusted revenues of approximately $280 billion and consolidated adjusted earnings per share of at least $30.25 (Q1 slightly above 25% of the full year), with EverNorth adjusted earnings of at least $6.9 billion (Q1 >20% of EverNorth’s annual earnings) and Cigna Healthcare adjusted earnings of at least $4.5 billion (Q1 >30% of its annual earnings); Cigna expects Cigna Healthcare’s 2026 medical care ratio to be 83.7%–84.7% (Q1 <81%), roughly 18.1 million total medical cost customers at year‑end, an enterprise adjusted SG&A ratio of ~5%, a consolidated adjusted tax rate of ~19%, operating cash flow of about $9 billion, capital expenditures of ~$1.3 billion, shareholder dividends of ~$1.6 billion (quarterly dividend $1.56/share), weighted average shares of 261–265 million, and continued progress toward a ~40% debt‑to‑capital target (exiting 2025 at 43%, +190 bps improvement in Q4); the company also noted 2025 cash flow from operations of $9.6 billion, $3.6 billion of share repurchases (11.9M shares) and $1.6 billion of dividends.Cigna Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
70
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 274.95B | 247.12B | 195.26B | 180.52B | 174.07B |
| Gross Profit | 25.99B | 25.96B | 25.18B | 23.50B | 22.95B |
| EBITDA | 11.61B | 11.45B | 10.85B | 10.44B | 9.96B |
| Net Income | 5.96B | 3.43B | 5.16B | 6.70B | 5.37B |
Balance Sheet | |||||
| Total Assets | 157.92B | 155.88B | 152.76B | 143.88B | 154.89B |
| Cash, Cash Equivalents and Short-Term Investments | 7.68B | 8.21B | 8.75B | 6.83B | 6.00B |
| Total Debt | 31.46B | 31.97B | 30.93B | 31.55B | 34.27B |
| Total Liabilities | 116.05B | 114.64B | 106.41B | 98.98B | 107.70B |
| Stockholders Equity | 41.71B | 41.03B | 46.22B | 44.87B | 47.11B |
Cash Flow | |||||
| Free Cash Flow | 8.39B | 8.96B | 10.24B | 7.36B | 6.04B |
| Operating Cash Flow | 9.60B | 10.36B | 11.81B | 8.66B | 7.19B |
| Investing Cash Flow | -4.41B | -2.10B | -5.17B | 3.10B | -3.61B |
| Financing Cash Flow | -6.42B | -7.65B | -4.29B | -11.24B | -8.21B |
Cigna Technical Analysis
Positive
277.56
Price Trends
275.13
Positive
273.73
Positive
282.59
Negative
Market Momentum
-0.39
Negative
57.17
Neutral
88.56
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CI, the sentiment is Positive. The current price of 277.56 is above the 20-day moving average (MA) of 266.96, above the 50-day MA of 275.13, and below the 200-day MA of 282.59, indicating a neutral trend. The MACD of -0.39 indicates Negative momentum. The RSI at 57.17 is Neutral, neither overbought nor oversold. The STOCH value of 88.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CI.
Cigna Risk Analysis
Cigna disclosed 27 risk factors in its most recent earnings report. Cigna reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cigna Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $73.14B | 12.29 | 14.53% | 2.21% | 16.75% | 113.48% | |
64 Neutral | $70.23B | 13.73 | 13.01% | 1.99% | 11.96% | -11.11% | |
63 Neutral | $277.73B | 24.92 | 12.70% | 2.69% | 10.48% | 24.25% | |
53 Neutral | $100.24B | 56.87 | 2.34% | 3.41% | 6.71% | -90.11% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $23.82B | 25.97 | 6.59% | 1.38% | 9.87% | -5.58% | |
50 Neutral | $18.33B | -3.03 | -27.74% | ― | 14.92% | -286.72% |
* Healthcare Sector Average
CI
Cigna
277.56
-35.80
-11.42%
CNC
Centene
37.28
-25.35
-40.48%
CVS
CVS Health
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HUM
Humana
198.39
-82.70
-29.42%
UNH
UnitedHealth
305.98
-256.65
-45.62%
ELV
Elevance Health
318.23
-108.34
-25.40%
Cigna Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Cigna Announces CEO Succession and Leadership Transition Plan
Positive
Mar 3, 2026
On February 25, 2026, The Cigna Group’s board approved a leadership transition under which long-serving chief executive David M. Cordani will retire as CEO on July 1, 2026 and become executive chair, while president and COO Brian C. Evanko, ...
Business Operations and StrategyFinancial Disclosures
Cigna Reaffirms 2026 Adjusted Earnings Outlook to Investors
Positive
Feb 27, 2026
The Cigna Group said it will use upcoming meetings with investors and analysts to reaffirm its previously stated outlook for full-year 2026 consolidated adjusted income from operations of at least $30.25 per share. Management emphasized that this ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.