Loading…
US health services company combining Cigna Healthcare insurance plans with Evernorth's pharmacy benefit management and care services.
US health services company combining Cigna Healthcare insurance plans with Evernorth's pharmacy benefit management and care services.
Most revenue is Evernorth: pharmacy-benefit fees for managing drug spending for employers and health plans, plus pharmacy and care-service income. Cigna Healthcare mainly serves employers that fund their own claims and pay fees rather than insure the risk. It bought Express Scripts in 2018 and sold its Medicare Advantage business to HCSC in 2025.
Moat: narrow (scale, switching costs). Express Scripts PBM scale and a large self-insured employer client base.
Headquarters: Bloomfield, Connecticut, USA · Founded: 1982 · Employees: 67,700
Size Cigna (CI) is a United States Health Care company (Managed Health Care) with a market value of $77.6B, the 175th largest of 3,117 United States companies the cockpit tracks. Shares closed at $293.59 on 6 Nov 2026.
Performance Over six months the shares gained 2.5%, against +13.0% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 8 in its peer set.
Growth Revenue grew 8.2% over the last twelve months (peer median +9.7%); the operating margin is 3.9% (peer median 1.9%).
Valuation It trades at 9.0× forward earnings against a peer median of 17.4× (cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -17 pp: the price already allows for a slowdown.
Credit Cigna has 24 bonds outstanding ($30.1B), rated A- by the agencies and trading like A- at a weighted spread of 79 bp.
Short interest Short interest is 2.6% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $282B | $275B | $244B | $195B | $180B |
| Revenue growth | — | +12% | +25% | +8% | — |
| Net income | $6.42B | $5.96B | $3.43B | $5.16B | $6.70B |
| Free cash flow | $9.11B | $8.39B | $8.96B | $10.2B | $7.36B |
| Capital expenditure | $1.16B | $1.21B | $1.41B | $1.57B | $1.29B |
| Total debt | $31.9B | $31.5B | $32.0B | $31.5B | $31.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cigna CI | $77.6B | +3% | +8% | 4% | 9.0× | -5.3% |
| UnitedHealth UNH | $353B | +4% | +3% | 5% | 17.4× | 4.3% |
| Elevance Health ELV | $92.0B | +13% | +4% | 4% | 14.8× | 4.7% |
| CVS Health CVS | $107B | -7% | +7% | 4% | 9.9× | -3.9% |
| Humana HUM | $52.1B | +58% | +18% | 2% | 32.9× | 15.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.5% | +6.2% | 3rd lowest of 8 |
| 6-month return | +2.5% | +13.0% | 2nd lowest of 8 |
| Distance from 52-week high | -7.7% | -14.6% | 3rd highest of 8 |
| Revenue growth (TTM) | +8.2% | +9.7% | 4th lowest of 8 |
| Operating margin | 3.9% | 1.9% | 3rd highest of 8 |
| Forward P/E | 9.0× | 17.4× | cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -5.3% | 4.7% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +11.4% | +11.9% | 3rd lowest of 8 |
| Hurdle (Req g minus delivered) | -16.7 pp | -7.4 pp | 3rd least demanding of 8 |
| Bond spread | 79 bp | 108 bp | 2nd tightest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cigna CI | United States | $77.6B | +3% | +8% | 4% | 9.0× | -5.3% | +11.4% |
| Elevance Health ELV | United States | $92.0B | +13% | +4% | 4% | 14.8× | 4.7% | +10.3% |
| Humana HUM | United States | $52.1B | +58% | +18% | 2% | 32.9× | 15.2% | +10.9% |
| Centene CNC | United States | $34.5B | +25% | +10% | 1% | 13.3× | 1.1% | +11.9% |
| UnitedHealth UNH | United States | $353B | +4% | +3% | 5% | 17.4× | 4.3% | +11.7% |
| Molina Healthcare MOH | United States | $10.9B | +12% | -1% | 1% | 25.0× | 26.9% | +18.7% |
| Oscar Health OSCR | United States | $8.38B | +44% | +43% | 4% | 14.0× | -19.1% | +90.8% |
| Alignment Healthcare ALHC | United States | $1.54B | -59% | +36% | 1% | 1,052.5× | 13.2% | +32.7% |
Cigna has 24 bonds outstanding with $30.1B face value. The agencies rate it A-; its bonds trade like A-. Weighted yield 5.67%, a spread of 79 bp over government bonds.