— Know what they know.
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Not Investment Advice

CI

NYSE · USD
Cigna Corporation
Healthcare · Medical - Healthcare Plans
CEO Brian C. Evanko Employees 67,700 R&D / revenue 0.0%
Last price
$302.30+1.17%last session
Market cap
$79.9B
P/E (TTM)
12.5x
From 52w high
−2.9%
From 52w low
+26.2%
1-year return
+4.5%
RSI 14 · vs SMA200
73.4 · +7.9%
IS score
61.3/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

CI   SPY   XLV (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26XLV 124SPY 116CI 105

Score DNA

Each bar is a 0-100 score within the scored universe
27
Profitability
63
Growth
74
Value
90
Momentum
65
Risk (safety)
70
Quality
48
Balance sheet
84
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for CI (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Weak, Efficient ScalePiotroski 8 / 9Altman Z 2.8Beta 0.323 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
17 open-market sales, $65.7M
Form 144 notices (12m): 8, $68.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-09-11
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+41
162 new holders, 99 closed
1,702 filers hold 90.7% · 678 added, 581 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+281
1,436 funds adding shares
1,155 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
36.6%
20-day avg 47.6%, 50-day avg 46.6%
Latest 11.0 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$275.0B
Revenue growth YoY+11.3%
Gross margin9.5%
Operating income$9.1B
Operating margin3.3%
Net income$6.0B
Net margin2.2%
EPS (diluted)$22.17
Cash flow
Operating cash flow$9.6B
Capital expenditure$1.2B
Free cash flow$8.4B
FCF conversion (FCF / OCF)87.4%
Stock-based compensation$0
FCF less SBC$8.4B
Buybacks$3.6B
Dividends$1.6B
Balance sheet & returns
Cash & short-term investments$7.7B
Total debt$31.5B
Net debt$23.8B
Shareholders' equity$41.9B
Goodwill & intangibles$73.5B
Debt / equity0.75
ROE (TTM)15.2%
ROIC (TTM)7.7%
Operating margin by fiscal year
4.6%FY20214.7%FY20224.4%FY20233.8%FY20243.3%FY2025
Revenue $174.1B (FY2021) to $275.0B (FY2025), a 12.1% CAGR.

Valuation

P/E (TTM)12.5x
EV / EBITDA8.4x
Price / sales0.28x
Price / FCF8.8x
FCF yield11.41%
Buyback yield4.53%
SBC / revenue0.0%
Price / book1.87x
Forward P/E FY20269.9x
Forward P/E FY20279.0x
Forward P/E FY20288.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $344.86 across 7 analysts last quarter is theirs, not ours.

CI vs industry median

19 companies in Medical - Healthcare Plans
Gross margin 11.7% 22.4% Operating margin 3.5% 3.8% Net margin 2.3% 2.6% ROIC 7.7% 11.8%
CI (TTM)Industry median Asset turnover 1.80 vs industry 1.74 · financial leverage 3.69

Earnings delivery

Next report 2026-11-05 · consensus EPS $7.52
92%
beat rate, 11 of 12 quarters
+2.5%
median EPS surprise
6
longest beat streak
+2+4+4+5+4-15+6+1+2+3+3+2
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
CI Cigna Corporation $79.9B12.5x15.2%2.3%+11.3% +4.5%
ELV Elevance Health Inc. $92.9B19.0x11.2%2.9%+6.3% +23.6%
CVS CVS Health Corp. $118.1B24.1x6.2%2.8%+7.4% +14.4%
HUM Humana Inc. $49.6B38.8x6.8%1.7%+18.3% +54.6%
CNC Centene Corp. $34.2Bn/m-20.4%2.5%+8.7% +94.0%
UNH UnitedHealth Group Incorpora $360.3B22.9x15.9%3.6%+3.3% —
MOH Molina Healthcare, Inc. $10.8B1,296.0x-0.2%0.6%+2.6% —
OSCR Oscar Health, Inc. $8.3B18.6x34.3%7.4%+42.8% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-09Officer/Director Change
2026-09-30Regulation FD; Exhibits
2026-07-30Earnings Release; Exhibits
2026-05-13Regulation FD
2026-04-30Earnings Release; Exhibits
2026-04-27Shareholder Vote

Context

Shares outstanding264,240,486
Free float99.5%
Institutional ownership90.7%
Beta0.32
Dividend yield2.05%
Last dividend$1.56 on 2026-09-08
50 / 200-day average$278.38 / $280.30
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where CI sits among 11 scored companies in Medical - Healthcare Plans (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCIIndustry medianIndustry percentileSector median
P/E (TTM) 12.5x 23.4x
0th		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 4.75 — 1.28
Price / sales 0.3x 0.4x
20th		 3.7x
Price / book 1.9x 2.6x
20th		 3.6x
Price / tangible book —
Price / free cash flow 8.8x 9.8x
33rd		 21.2x
Price / operating cash flow 7.8x 8.4x
20th		 17.1x
Enterprise value $105.5B $23.2B
80th		 $2.5B
EV / sales 0.4x 0.4x
50th		 3.8x
EV / EBITDA 8.5x 13.5x
12th		 16.2x
EV / EBIT 10.7x 17.1x
12th		 23.0x
EV / free cash flow 11.6x 12.7x
44th		 24.6x
Earnings yield 8.0% 3.8%
100th		 -0.3%
FCF yield 11.4% 10.0%
70th		 1.7%
Operating cash flow yield 12.9% 11.8%
80th		 2.9%
Graham number (per share) $297.16 $133.77
86th		 $26.70

Profitability (TTM)

MeasureCIIndustry medianIndustry percentileSector median
Gross margin 11.7% 16.1%
10th		 65.1%
EBITDA margin 4.4% 3.2%
80th		 6.6%
Operating margin 3.5% 2.0%
60th		 3.5%
EBIT margin 3.5% 2.1%
70th		 2.4%
Net margin 2.3% 1.2%
60th		 0.3%
NOPAT margin 2.8% 1.7%
60th		 2.7%
FCF margin 3.2% 3.2%
50th		 4.3%
Operating cash flow margin 3.6% 3.7%
40th		 7.1%
R&D / revenue 0.0% 0.0%
0th		 12.4%
SG&A / revenue 4.9% 6.8%
40th		 37.9%
Stock comp / revenue 0.0% 0.2%
0th		 4.5%
Effective tax rate 17.8% 17.8%
50th		 21.0%

Returns on capital

MeasureCIIndustry medianIndustry percentileSector median
ROE (on average equity) 15.5% 11.2%
60th		 0.8%
ROA 4.2% 3.6%
70th		 -0.3%
ROIC 11.8% 4.9%
60th		 5.5%
ROCE 9.7% 7.5%
70th		 2.3%
Return on tangible assets 6.4% 4.8%
70th		 1.7%
Cash ROIC (OCF / invested capital) 15.1% 18.5%
29th		 9.7%
Gross profitability (GP / assets) 21.0% 37.6%
0th		 29.9%
ROIC, 3-yr average 7.5% 7.5%
50th		 2.6%
ROIC, 5-yr average 8.3% 6.3%
57th		 3.2%
ROE, 5-yr average 12.6% 12.6%
50th		 -4.9%
Incremental ROIC 110.8% 71.5%
80th		 17.2%

Growth

MeasureCIIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.7% 7.7%
50th		 10.5%
Revenue growth (QoQ) 4.6% 3.1%
60th		 7.2%
Revenue CAGR, 3 yr 14.9% 10.9%
80th		 10.7%
Revenue CAGR, 5 yr 11.1% 12.6%
40th		 12.1%
Gross profit CAGR, 3 yr 11.8% 10.9%
60th		 10.6%
Operating income CAGR, 3 yr 6.3% -5.4%
67th		 11.7%
Net income growth (TTM YoY) 27.9% 0.4%
80th		 17.5%
Net income CAGR, 3 yr -1.3% -4.7%
60th		 11.3%
EPS growth (TTM YoY) 29.9% 1.6%
80th		 19.2%
EPS CAGR, 3 yr 2.6% -1.4%
60th		 14.0%
EPS CAGR, 5 yr 0.6% 1.2%
40th		 8.1%
FCF growth (TTM YoY) 131.1% 131.1%
50th		 18.6%
FCF CAGR, 3 yr -7.2% 0.3%
33rd		 15.4%
Operating cash flow CAGR, 3 yr -7.3% -4.1%
40th		 11.9%
Book value CAGR, 3 yr 1.8% 5.7%
20th		 2.1%
Dividend CAGR, 3 yr 4.8% 2.6%
100th		 2.2%
Sustainable growth rate 11.6% 9.7%
57th		 12.2%

Margin history & stability

MeasureCIIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 11.4% 21.2%
10th		 62.6%
Operating margin, 3-yr average 3.7% 2.6%
70th		 1.0%
Net margin, 3-yr average 2.0% 1.4%
70th		 -2.6%
FCF margin, 3-yr average 2.8% 2.1%
70th		 3.2%
Revenue stability (0-1) 0.93 0.97
10th		 0.80
Earnings stability (0-1) 0.21 0.24
40th		 0.37
Margin stability (0-1) 0.90 0.83
80th		 0.93

Liquidity (latest quarter)

MeasureCIIndustry medianIndustry percentileSector median
Cash & short-term investments $6.3B $8.9B
30th		 $330.9M
Net cash (− = net debt) −$25.6B $371.2M
20th		 $8.4M
Working capital −$8.6B $477.0M
20th		 $381.1M
Current ratio 0.85 1.50
10th		 3.02
Quick ratio 0.74 1.50
20th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.11 0.98
0th		 1.43
Defensive interval (days) 584 days 521 days
60th		 415 days

Leverage & solvency (latest quarter)

MeasureCIIndustry medianIndustry percentileSector median
Total debt $31.9B $14.2B
80th		 $289.1M
Debt / equity 0.75 0.71
70th		 0.45
Net debt / equity 0.60 −0.49
90th		 −0.13
Debt / assets 20.3% 23.8%
40th		 24.4%
Debt / capital 42.8% 41.7%
70th		 31.1%
Debt / EBITDA 2.57 3.76
25th		 2.62
Net debt / EBITDA 2.06 −1.65
88th		 1.42
Interest coverage (EBIT / interest) 7.1x 3.4x
88th		 2.1x
Cash interest coverage 7.4x 6.8x
62nd		 3.6x
Debt payback (years of OCF) 3.1 yrs 2.8 yrs
60th		 2.7 yrs
Liabilities / assets 72.7% 68.5%
60th		 49.8%
IS credit model rating BBB+ — —
Implied credit spread (bps) 225 150
70th		 225

Efficiency

MeasureCIIndustry medianIndustry percentileSector median
Asset turnover 1.83 1.83
50th		 0.56
Fixed asset turnover 75.58 72.51
56th		 4.87
Inventory turnover 42.2 — 2.7
Receivables turnover 9.1 15.8
10th		 6.4
Days sales outstanding 40 days 23 days
90th		 57 days
Days inventory outstanding 9 days — 136 days
Days payables outstanding 36 days 35 days
70th		 59 days
Cash conversion cycle (days) 12 days 2 days
60th		 70 days
Capex / revenue 0.4% 0.4%
60th		 2.6%
Capex / depreciation 0.45 0.76
10th		 0.55
Operating expense ratio 17.1% 13.7%
80th		 56.5%

Cash flow & earnings quality

MeasureCIIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.60 2.33
29th		 1.61
FCF / net income 1.42 1.92
29th		 1.36
FCF / operating cash flow 88.7% 88.0%
60th		 81.2%
Capex / operating cash flow 11.3% 12.0%
40th		 18.8%
Accruals ratio -2.5% -3.9%
70th		 -5.4%
Sloan accruals ratio 0.6% 0.9%
40th		 -1.3%
Earnings quality score (0-1) 1.00 0.88
57th		 0.75

Dividends & buybacks

MeasureCIIndustry medianIndustry percentileSector median
Dividend yield 2.0% 0.0%
80th		 0.0%
Dividend per share (TTM) $6.19 $0.00
80th		 $0.00
Payout ratio (dividends / net income) 25.3% 27.8%
43rd		 0.0%
Dividends / FCF 17.8% 0.0%
67th		 0.0%
Dividend growth (YoY) 4.0% 2.6%
75th		 4.5%
Buyback yield 1.6% 0.6%
60th		 0.0%
Shareholder yield (dividends + buybacks) 3.6% 2.9%
60th		 0.0%
Share count change (YoY) -1.6% 0.1%
30th		 2.0%
Buybacks, last 5 years $16.3B $772.4M
90th		 $0

Scores & forensic checks

MeasureCIIndustry medianIndustry percentileSector median
IS score 61 55
70th		 46
IS profitability 27 27
50th		 22
IS growth 63 50
70th		 60
IS value 74 45
100th		 39
IS momentum 90 79
80th		 67
IS risk (safety) 65 80
10th		 80
IS quality 70 67
80th		 49
IS balance sheet 48 62
20th		 55
IS earnings quality 84 65
80th		 56
IS cash flow 64 61
60th		 41
Piotroski F-score (0-9) 8 7
80th		 5
Altman Z-score 2.8 3.1
40th		 3.2
Beneish M-score −2.82 −2.82
50th		 −2.62
Ohlson O-score −7.59 −7.59
50th		 −7.16
IS credit score 60 74
30th		 62

Per share

MeasureCIIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $24.31 $1.65
100th		 −$0.03
Book value per share $161.46 $62.12
90th		 $7.10
Tangible book per share −$111.97 $6.80
0th		 $1.91
Revenue per share $1,069.78 $389.31
90th		 $9.38
FCF per share $34.52 $9.16
100th		 $0.46
Operating cash flow per share $38.93 $11.52
100th		 $0.93
Cash per share $23.86 $25.66
40th		 $3.51

Size (TTM)

MeasureCIIndustry medianIndustry percentileSector median
Market cap $79.9B $34.2B
70th		 $2.4B
Revenue $282.4B $145.7B
80th		 $770.2M
EBITDA $12.4B $633.7M
80th		 $56.1M
Net income $6.4B $550.7M
90th		 −$3.3M
Free cash flow $9.1B $4.3B
80th		 $41.2M
Total assets $157.1B $57.2B
80th		 $1.3B
Shareholders' equity $42.6B $19.2B
70th		 $568.4M
Employees 66,685 61,100
60th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-03Neville Everett
See Remarks
 Open-market sale 617$284.05$175,2595,053
2026-08-31Kurian George
Director
 Award / grant 109——2,042
2026-08-18Jones Nicole S
See Remarks
 Open-market sale 2,677$279.61$748,51625,880
2026-08-06Holgerson Bryan
See Remarks
 Award / grant 1——945
2026-08-05Jones Nicole S
See Remarks
 Option exercise 1,301$192.02$249,81828,557
2026-08-05Jones Nicole S
See Remarks
 Option exercise 1,301$192.02$249,8180
2026-08-04Jones Nicole S
See Remarks
 Option exercise 14,045$192.02$2.7M46,692
2026-08-04Jones Nicole S
See Remarks
 Open-market sale 19,436$276.27$5.4M27,256
2026-08-04Jones Nicole S
See Remarks
 Option exercise 14,045$192.02$2.7M1,301
2026-07-23Holgerson Bryan
See Remarks
 Award / grant 1——944
2026-07-09Holgerson Bryan
See Remarks
 Award / grant 1——943
2026-07-09Perlberg Matthew
See Remarks
 — 4,643$287.55$1.3M0

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired158,040—
Open-market saleDisposed17225,507$65.7M
Option exerciseDisposed7228,788$39.3M
Option exerciseAcquired7228,788$39.3M
—Disposed1118,998$5.2M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 8 notices · 235,642 shares · $68.6M
FiledFilerShares proposedEst. proceeds
2026-09-03Neville Everett617$175,259
2026-08-18Jones Nicole S2,677$748,416
2026-08-04Jones Nicole S19,436$5.4M
2026-06-12Kates Jamie G899$268,452
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 22 trades (5 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2026-03-23Jared MoskowitzHouseSale$1,001 - $15,0002026-05-01
2023-12-14Jerry MoranSenateSale (Full)$1,001 - $15,0002024-01-17
2023-12-14Jerry MoranSenateSale (Full)$1,001 - $15,0002024-01-17
2023-12-14Jerry MoranSenateSale (Full)$1,001 - $15,0002024-01-16
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.23,438,250$6.5B8.87%
VANGUARD CAPITAL MANAGEMENT LLC17,276,296$4.8B6.54%
STATE STREET CORP12,682,259$3.5B4.80%
DODGE & COX12,173,875$3.4B4.61%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/10,443,691$2.9B3.95%
Sanders Capital, LLC10,144,617$2.8B3.84%
FMR LLC8,018,189$2.2B3.03%
GEODE CAPITAL MANAGEMENT, LLC6,268,347$1.7B2.37%
VANGUARD PORTFOLIO MANAGEMENT LLC6,228,614$1.7B2.36%
GQG Partners LLC5,908,707$1.6B2.24%
JPMORGAN CHASE & CO4,627,845$1.3B1.75%
NORGES BANK3,562,699$982.2M1.35%
BANK OF AMERICA CORP /DE/3,002,366$827.7M1.14%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP2,849,302$785.5M1.08%
AMERIPRISE FINANCIAL INC2,608,447$719.2M0.99%

Institutional ownership by quarter

2023-092026-0690.7%
% of shares held by 13F filers
2023-092026-061,702
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,70290.7%16267858199
2026-03-311,66189.1%156671558118
2025-12-311,65689.2%204565631127
2025-09-301,61588.4%118575643207
2025-06-301,73189.4%168654593105
2025-03-311,69191.3%198580629130
2024-12-311,64292.3%191537656212
2024-09-301,70091.9%14261960792
2024-06-301,66692.2%148617562121
2024-03-311,66295.0%184552621119
2023-12-311,62596.9%23951459885
2023-09-301,49197.0%12150556891

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%19,814,433
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-03-05SCHEDULE 13G/AThe Vanguard Group10.0%26,445,689
2025-11-05SCHEDULE 13G/AAbigail P. Johnson4.0%10,665,556
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.10%$2.3B
VTSAX0.10%$2.3B
VSMPX0.10%$2.3B
VTI0.10%$2.3B
VFINX0.11%$1.9B
VOO0.11%$1.9B

Share structure

Shares outstanding264,240,486
Float262,916,641
Free float99.5%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$174.1B$180.5B$195.3B$247.1B$275.0B
Cost of revenue$151.1B$157.0B$170.1B$221.2B$249.0B
Gross profit$23.0B$23.5B$25.2B$26.0B$26.0B
R&D$0$0$0$0$0
SG&A$12.8B$13.0B$14.3B$14.6B$14.0B
Operating income$7.9B$8.4B$8.5B$9.4B$9.1B
EBITDA$10.0B$10.4B$10.8B$11.4B$11.6B
Pretax income$6.8B$8.4B$5.5B$5.3B$7.6B
Income tax$1.4B$1.6B$141.0M$1.5B$1.3B
Net income$5.4B$6.7B$5.2B$3.4B$6.0B
EPS, diluted$15.75$21.41$17.39$12.12$22.17
Diluted shares341.0M313.1M296.9M283.2M265.9M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$6.0B$6.8B$8.7B$8.2B$7.7B
Receivables$14.6B$17.0B$17.4B$24.1B$28.8B
Inventory$3.7B$4.8B$5.6B$6.7B$7.3B
Total current assets$36.1B$30.1B$37.4B$48.9B$47.8B
PP&E, net$1.7B$1.3B$877.0M$828.0M$3.7B
Goodwill & intangibles$82.7B$81.2B$77.9B$76.6B$73.5B
Total assets$154.9B$143.9B$152.8B$155.9B$157.9B
Accounts payable$22.0B$24.8B$28.4B$37.8B$10.7B
Total current liabilities$43.6B$41.2B$48.7B$58.0B$56.3B
Long-term debt$31.1B$28.0B$28.1B$28.9B$30.9B
Total liabilities$107.7B$99.0B$106.4B$114.6B$116.0B
Shareholders' equity$47.2B$44.9B$46.4B$41.2B$41.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$5.4B$6.8B$5.4B$3.8B$6.3B
Depreciation & amortization$2.9B$2.9B$3.0B$2.8B$2.8B
Stock-based compensation$0$0$0$0$0
Change in working capital−$879.0M$584.0M$3.5B$1.2B$201.0M
Operating cash flow$7.2B$8.7B$11.8B$10.4B$9.6B
Capital expenditure−$1.2B−$1.3B−$1.6B−$1.4B−$1.2B
Free cash flow$6.0B$7.4B$10.2B$9.0B$8.4B
Investing cash flow−$3.6B$3.1B−$5.2B−$2.1B−$4.4B
Net debt issued / repaid$657.0M−$2.6B−$278.0M$1.1B−$666.0M
Buybacks−$7.7B−$7.6B−$2.3B−$7.0B−$3.6B
Dividends paid−$1.3B−$1.4B−$1.4B−$1.6B−$1.6B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin13.2%13.0%12.9%10.5%9.5%
Operating margin4.6%4.7%4.4%3.8%3.3%
Net margin3.1%3.7%2.6%1.4%2.2%
FCF margin3.5%4.1%5.2%3.6%3.1%
ROE11.0%14.6%11.3%7.9%14.4%
ROIC8.4%9.8%12.2%10.4%11.5%
ROA3.5%4.5%3.5%2.2%3.8%
Debt / equity0.730.700.670.780.75
Interest coverage6.8x6.9x6.2x6.8x6.8x
Current ratio0.830.730.770.840.85
Revenue growth+8.5%+3.7%+8.2%+26.6%+11.3%
EPS growth−30.5%+34.9%−20.1%−29.5%+81.2%
P/E at year end13.1x14.3x16.5x21.9x12.3x
EV / EBITDA at year end8.9x10.5x8.9x7.9x8.1x
FCF yield at year end8.56%7.68%12.04%11.92%11.46%
Dividend payout25.0%20.6%28.1%45.6%27.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Evernorth———$198.2B$235.0B
Evernorth Health Services$127.7B$135.9B$147.8B——
Cigna Healthcare$42.4B$42.4B$46.8B$47.5B$47.4B
Other$4.0B$2.3B$596.0M——
Corporate and Eliminations−$1.0M$7.0M$24.0M——

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $7.52 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$287.2B$281.0B – $289.8B$30.51$30.45 – $30.58159.9x
2027$299.9B$292.9B – $308.5B$33.48$33.13 – $33.86159.0x
2028$316.0B$305.9B – $323.8B$37.14$31.25 – $39.35128.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$7.60$7.78+2.4%$70.1B$71.7B+2.2%
2026-04-30$7.60$7.79+2.5%$66.3B$68.5B+3.3%
2026-02-05$7.88$8.08+2.5%$70.3B$72.5B+3.1%
2025-10-30$7.64$7.83+2.5%$67.6B$69.7B+3.2%
2025-07-31$7.16$7.20+0.6%$62.9B$67.2B+6.9%
2025-05-02$6.35$6.74+6.1%$60.2B$65.5B+8.8%
2025-01-30$7.84$6.64−15.3%$63.4B$65.7B+3.6%
2024-10-31$7.23$7.51+3.9%$59.5B$62.8B+5.6%
2024-08-01$6.41$6.72+4.8%$58.3B$60.5B+3.8%
2024-05-02$6.22$6.47+4.0%$56.5B$55.4B−2.0%
2024-02-02$6.54$6.79+3.8%$48.9B$51.1B+4.4%
2023-11-02$6.66$6.77+1.7%$48.2B$49.0B+1.7%
2023-08-03$6.02$6.13+1.8%$47.2B$48.6B+3.0%
2023-05-05$5.22$5.41+3.6%$45.5B$46.5B+2.0%
2023-02-03$4.86$4.96+2.1%$45.9B$45.8B−0.3%
2022-11-03$5.70$6.04+6.0%$44.8B$45.2B+0.9%
2022-08-04$5.48$6.22+13.5%$44.5B$45.4B+2.0%
2022-05-06$5.13$6.01+17.2%$43.4B$43.7B+0.7%
2022-02-03$4.68$4.77+1.9%$43.9B$45.8B+4.2%
2021-11-04$5.23$5.73+9.6%$42.9B$44.4B+3.5%
2021-08-05$4.96$5.24+5.6%$43.1B$43.2B+0.2%
2021-05-07$4.42$4.73+7.0%$37.7B$41.0B+8.7%
2021-02-04$3.66$3.51−4.1%$43.8B$41.9B−4.4%
2020-11-05$4.24$4.41+4.0%$39.4B$41.0B+4.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.606-220.606-290.507-060.807-130.507-200.907-271.008-030.508-100.308-170.308-240.408-31
Week ofNotionalSharesTrades
2026-08-31$401.8M1,422,54256,477
2026-08-24$299.3M1,071,27644,254
2026-08-17$336.9M1,213,60455,399
2026-08-10$463.0M1,670,61364,182
2026-08-03$966.1M3,513,27289,502
2026-07-27$933.7M3,198,67784,316

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1536.6%
DateShort shareShort volumeTotal volume
2026-10-1536.6%274,770751,708
2026-10-1440.4%191,217473,732
2026-10-1367.8%317,904469,157
2026-10-1261.8%249,996404,583
2026-10-0954.5%190,829350,317
2026-10-0842.4%238,751562,685
2026-10-0742.1%212,943506,393
2026-10-0634.3%143,950419,815
2026-10-0547.5%265,761559,207
2026-10-0246.8%341,923730,454
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.7Jan-0.5Feb+1.5Mar+0.0Apr+1.4May+1.0Jun-0.3Jul+4.3Aug-1.4Sep-0.8Oct+2.7Nov+3.2Dec
MonthAvg returnUp yearsYears
Jan+0.7%55%20
Feb−0.5%45%20
Mar+1.5%52%21
Apr+0.0%55%20
May+1.4%55%20
Jun+1.0%65%20
Jul−0.3%55%20
Aug+4.3%75%20
Sep−1.4%40%20
Oct−0.8%55%20
Nov+2.7%80%20
Dec+3.2%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1473.4
MFI67.4
ADX17.0
Stochastic %K / %D97.7 / 90.7
Williams %R-1.6
CCI212
TSI / signal19.0 / 2.4
Chaikin money flow0.21
ATR$7.43
Bollinger width13.9%
Volume vs 20-day avg0.74x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$277.79 (+8.8%)
SMA 50$278.61 (+8.5%)
SMA 200$280.19 (+7.9%)
EMA 21$282.16 (+7.1%)
EMA 50$280.39 (+7.8%)
EMA 200$282.13 (+7.1%)
Bollinger upper$297.09 (+1.8%)
Bollinger lower$258.50 (+16.9%)
Parabolic SAR$274.70 (+10.0%)
Open the live chart, 110+ indicators

About Cigna Corporation

Cigna Group, established in 1792 and headquartered in Bloomfield, Connecticut, provides insurance products and related services across the United States. The company operates through two primary segments. Its Evernorth division offers a comprehensive array of coordinated and specialized health solutions, including pharmacy services, benefits administration, care management and delivery, and advanced intelligence solutions. These offerings cater to a diverse clientele, such as health plans, employers, government entities, and healthcare providers. Meanwhile, the Cigna Healthcare segment delivers an extensive portfolio of products and services, encompassing medical, pharmaceutical, behavioral health, dental, vision, and health advocacy programs for both insured and self-insured customers. This segment also provides Medicare Advantage, Medicare Supplement, and Medicare Part D plans specifically for seniors, in addition to individual health insurance options available on and off public exchanges. Globally, Cigna Healthcare extends international health coverage and benefits to mobile professionals and employees of multinational organizations. Furthermore, the company issues permanent insurance contracts to corporations, designed to cover the lives of specific employees for funding future benefit obligations. Cigna distributes its various offerings through insurance brokers and consultants, direct sales channels to employers, unions, and individuals, and via both private and public exchanges.

https://www.thecignagroup.com

Key executives

NameTitlePayBorn
David Michael CordaniExecutive Chairman of the Board$5.4M1965
Brian C. EvankoPresident, CEO & Director$3.3M1977
Nicole Susan JonesExecutive Vice President, Chief Administrative Officer & Chief Human Resources Officer$2.0M1971
Ann DennisonExecutive Vice President & Chief Financial Officer$1.9M1971
Durga Prasad KokaExecutive Vice President & Global Chief Information Officer$1.9M—
F. Everett NevilleExecutive VP & Special Advisor to the CEO$1.8M1965
Jamie KatesSenior VP & Tax and Global Chief Accounting Officer—1980
Melissa SkottegaardExecutive Vice President, Chief Marketing & Communications Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
David M. Cordani Chair and Chief Executive Officer2025$1.6M$13.9M$3.2M$22.9M
Brian C. Evanko President and Chief Operating Officer2025$1.1M$5.1M$2.1M$10.0M
Nicole S. Jones Executive Vice President, Chief Administrative Officer, and General Counsel2025$893,173$2.9M$1.1M$6.0M
Ann M. Dennison Executive Vice President, Chief Financial Officer, The Cigna Group2025$773,077$2.3M$1.1M$4.7M
Everett Neville Executive Vice President, Strategy and Business Development2025$800,000$1.7M$1.0M$4.1M

Employees

74k201874k201974k202074k202171k202272k202374k202468k2025

Dividends

Ex-dateAmountPaid
2026-09-08$1.562026-09-23
2026-06-04$1.562026-06-18
2026-03-05$1.562026-03-19
2025-12-04$1.512025-12-18
2025-09-04$1.512025-09-18
2025-06-03$1.512025-06-18
2025-03-05$1.512025-03-20
2024-12-04$1.42024-12-19

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage55
Intangibles41
Switching costs21
Network effect45
Efficient scale73
Our component scores (0-100) and overall 44.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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