Cigna Group (CI)
Health Care · Health Care Services · US stock · S&P 500 component
$315.88
▲ +11.51 (3.78%)
Fair valueUndervalued
$460 +45.8% to fair value
$230fair band $392–$558$691
Day's range
$304.68 – $316.27
52-week range
$239.51 – $316.27
About Cigna Group
Cigna Group is a health services company with two main parts: Evernorth, which includes pharmacy benefit management through Express Scripts and specialty care services, and Cigna Healthcare, which sells medical, dental and other insurance plans. Revenue comes from insurance premiums, fees for managing prescription drug benefits and the dispensing of medicines, and it depends on medical costs and regulation.
Over the last twelve months Cigna Group reported revenue of $282.4 billion. Over three years revenue has grown by 15.0% a year. The operating margin is 3.5%. Return on invested capital is 12%. Net debt to EBITDA is 2.0 times. It pays a dividend with a yield of 2.0%. The X-Ray Score is 66 out of 100. Return on invested capital describes how much profit the business earns relative to the money put into it.
Price chart
52-wk range $239.51 – $316.27Volume 1,575,611Daily, split-adjusted
Vitals
Market cap$83.4B
52-week range$239.51 – $316.27
Volume (last day)1,575,611
P/E (TTM)13.5
EBIT / EV yield9.1%
Free-cash-flow yield–
Dividend yield2.0%
Revenue (TTM)$282.4B
Net income (TTM)$6.2B
Operating margin3.5%
Return on capital11.8%
Debt incl. leases$32.9B
Cash & securities$7.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$460middle half of models $347 – $563
Undervalued
+45.8% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $316
Undervalued < $392Fair $392 – $558Overvalued > $558
P/E multiple
$321
P/B multiple
$316
P/S multiple
$604
EV/EBITDA multiple
$377
EV/EBIT multiple
$403
EV/revenue multiple
$622
10-year DCF, EBITDA exit · not used
$635
5-year DCF, EBITDA exit
$521
10-year DCF, revenue exit · not used
$676
5-year DCF, revenue exit
$573
10-year DCF, growth exit · not used
$760
5-year DCF, growth exit · not used
$657
Dividend discount, stable
$338
Dividend discount, multi-stage
$530
Earnings power value · not used
$698
Growth the price implies
2.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Strong
96/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield9.1%
Fair value vs price1.5×
Growth
Fair
68/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)15.0%
EPS growth (3y)1.2%
Growth consistency100%
Profitability
Fair
51/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital11.8%
Operating margin3.5%
Gross profitability37.1%
Financial health
Weak
48/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA2.0×
Interest cover7.2×
Dividends
Fair
63/100
Dividend is typical for its sector.
See the numbers →
Dividend yield2.0%
Dividend growth5.2%
Quarterly results: last 6 quarters
+14.4%
Mar '25
+11.0%
Jun '25
+9.5%
Sep '25
+10.4%
Dec '25
+4.6%
Mar '26
+6.7%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $71.7B, diluted EPS $6.29.
Compare with peers
DVA Davita Inc.67 DGX Quest Diagnostics Inc56 CVS CVS HEALTH Corp52 LH Labcorp Holdings Inc.44Other Health Care Services companies by X-Ray Score.
SWOT analysis: Cigna Group
Strengthsinside the company
- Revenue has grown 15.0% a year over three years (median 5.5% for industry peers).
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Operating margin of 3.5% is thin against 12.3% for industry peers.
- Altman Z-score of 1.5 is in the zone linked with financial distress in past studies.
Opportunitiesvaluation and setting
- Trades at 13.4x earnings, 47% below the 25.3x median of industry peers.
- The price is 46% below our fair value estimate, with the gap larger than the margin we allow for error.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare CI with peers and sector
Medians of 4 Health Care Services peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): CVS 52, DGX 56, LH 44, DVA 67.
| Metric | CI | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 66 | 54 | 49 |
| Valuation | 96 | 68 | 52 |
| Growth | 68 | 49 | 47 |
| Profitability | 51 | 47 | 49 |
| Financial health | 48 | 50 | 48 |
| Dividends | 63 | 55 | 50 |
Sector leaders: highest X-Ray Score in Health Care
CI ranks #8 of 60 in Health Care and #2 of 5 in Health Care Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for CI
Each factor is rated by where CI stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 9 Good · 6 Average · 6 Bad of 21
Growth: 2 · 1 · 0
Profitability: 0 · 2 · 3
Financial strength: 1 · 2 · 1
Valuation: 4 · 0 · 0
Cash flow: 0 · 1 · 2
Efficiency: 2 · 0 · 0
| Factor | CI | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +15.0% | Good beats 91% | +5.5% | – | – |
| Revenue growth, last year | +11.2% | Good beats 76% | +7.1% | +8.5% | ▲ Better |
| EPS growth, 3 years a year | +1.2% | Average beats 36% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 20.6% | Bad beats 9% | 65.0% | 30.8% | ▼ Worse |
| Operating margin | 3.5% | Bad beats 21% | 16.4% | 4.4% | ≈ In line |
| Net margin | 2.2% | Bad beats 20% | 11.1% | 2.6% | ≈ In line |
| Return on invested capital | 11.8% | Average beats 49% | 12.2% | – | – |
| Return on equity | 14.6% | Average beats 56% | 13.7% | 11.5% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 2.0x | Average beats 48% | 2.0x | 2.0x | ≈ In line |
| Interest cover | 7.2x | Average beats 40% | 9.4x | 6.3x | ≈ In line |
| Current ratio | 0.85 | Bad beats 8% | 1.52 | 0.83 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 85% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 13.4x | Good beats 92% | 28.2x | 15.3x | ▲ Better |
| Price / book | 2.0x | Good beats 88% | 3.7x | 1.9x | ≈ In line |
| Price / sales | 0.3x | Good beats 91% | 3.7x | 0.4x | ≈ In line |
| EV / EBITDA | 8.6x | Good beats 94% | 17.6x | 9.7x | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 3.6% | Bad beats 15% | 16.3% | 4.2% | ≈ In line |
| Cash from operations / net income | 1.65 | Average beats 58% | 1.61 | 1.61 | ≈ In line |
| Accruals (lower is better) | −2.6% | Bad beats 29% | −3.9% | – | – |
| Efficiency | |||||
| Inventory turnover | 38.3x | Good beats 99% | 2.9x | 27.3x | ▲ Better |
| Days sales outstanding | 40 days | Good beats 84% | 62 days | 35 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 5 Average · ● 4 BadCash quality
Earnings backed by cashBad
Risk models
Altman Z''Bad
Piotroski F-ScoreGood
Growth
EPS growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginBad
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 54/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $174.1B | $180.5B | $195.3B | $247.1B | $274.9B |
| Operating income | $7.9B | $8.5B | $8.5B | $9.4B | $9.2B |
| Net income | $5.4B | $6.8B | $5.2B | $3.4B | $6.0B |
| Operating cash flow | $7.2B | $8.7B | $11.8B | $10.4B | $9.6B |
| Operating margin | 4.6% | 4.7% | 4.4% | 3.8% | 3.3% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $15.75 | $21.41 | $17.39 | $12.12 | $22.18 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
6 bullish · 1 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 296.4 | Bullish |
| EMA 10 | 298.4 | Bullish |
| SMA 20 | 284.9 | Bullish |
| EMA 20 | 290.5 | Bullish |
| SMA 50 | 280.7 | Bullish |
| EMA 50 | 284.0 | Bullish |
| SMA 100 | 282.4 | Bullish |
| EMA 100 | 281.8 | Bullish |
| SMA 200 | 278.5 | Bullish |
| EMA 200 | 281.2 | Bullish |
Oscillators (daily)
| RSI (14) | 75.32 | Bearish |
| MACD (12, 26) | 8.26 | Bullish |
| Momentum (12) | 15.13 | Bullish |
| Stochastic %K (14) | 99.23 | Bearish |
| Williams %R (14) | -0.77 | Bearish |
| CCI (20) | 158.8 | Bearish |
Pivot points (classic, last session)
S3 296.7 | S2 300.7 | S1 308.3 | Pivot 312.3 | R1 319.9 | R2 323.9 | R3 331.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.19 USD
Yield on today's price
1.96%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.5600 | |
| 1.5600 | |
| 1.5600 | |
| 1.5100 | |
| 1.5100 | |
| 1.5100 | |
| 1.5100 | |
| 1.4000 | |
| 1.4000 | |
| 1.4000 | |
| 1.4000 | |
| 1.2300 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold CI
| ETF | Share of the fund |
|---|---|
| GQGU The Advisors’ Inner Circle Fund III | 4.34% |
| IHF iShares U.S. Healthcare Providers | 4.00% |
| MFSV MFS Active Value | 2.77% |
| VFLO VictoryShares Free Cash Flow | 2.66% |
| RPV Invesco S&P 500 Pure Value | 1.61% |
| QLTY GMO U.S. Quality | 1.60% |
| RWL Invesco S&P 500 Revenue | 1.43% |
| PWV Invesco Dynamic Large Cap Value | 1.31% |
The eight funds with the largest weight in CI among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
CI stock splits
CI has split its stock 2 times since 1998. The latest was a 3-for-1 split on 5 Jun 2007.
Full CI stock split history →CI SEC filings
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.