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Cigna
(NYSE:CI)
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Rating:75Outperform
Price Target:
$310.00
▲(10.98% Upside)
Action:Reiterated
Date:09/30/26
The score is driven primarily by resilient fundamentals (revenue scale and strong cash generation) and constructive forward signals from the latest earnings call (raised EPS guidance and solid cash flow outlook). Attractive valuation (low P/E and a ~2.25% yield) further supports the rating, while softer technicals (below key moving averages and negative MACD) and margin/cost-trend risks keep the score out of the top tier.
Positive Factors
Diversified revenue growth across healthcare and pharmacy services
Growth across both Cigna Healthcare and Evernorth demonstrates broad demand for the company’s insurance, pharmacy, and specialty-care platforms. Diversification across these services can support durable expansion, reduce reliance on one earnings stream, and strengthen the company’s ability to reinvest in scale and capabilities.
Negative Factors
Margin compression and earnings variability
The company’s revenue growth has not translated into consistently expanding profitability, showing that cost and mix pressures remain material. Thin, volatile margins leave less protection against adverse utilization or pricing changes and can make earnings less predictable over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue growth across healthcare and pharmacy services
Growth across both Cigna Healthcare and Evernorth demonstrates broad demand for the company’s insurance, pharmacy, and specialty-care platforms. Diversification across these services can support durable expansion, reduce reliance on one earnings stream, and strengthen the company’s ability to reinvest in scale and capabilities.
Read all positive factors
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 (CI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$71.69B
Dividend Yield2.26%
Average Volume (3M)1.56M
Price to Earnings (P/E)11.3
Beta (1Y)0.23
Revenue Growth8.15%
EPS Growth31.47%
CountryUS
Employees66,685
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Plans
Share Statistics
EPS (TTM)24.25
Shares Outstanding264,240,480
10 Day Avg. Volume1,883,415
30 Day Avg. Volume1,562,316
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 Cap1.46
Enterprise Value/Revenue0.37
Enterprise Value/Gross Profit3.19
Enterprise Value/Ebitda8.91
Forecast
1Y Price Target
$338.89Price Target Upside21.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering19
EPS Forecast (FY)30.51
Revenue Forecast (FY)$287.15B
Cigna Business Overview & Revenue Model
Company Description
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 comprehens...
How the Company Makes Money
Cigna primarily generates revenue through (1) health insurance and related medical benefit products and (2) health services, especially pharmacy benefit management (PBM) and specialty pharmacy. In its Cigna Healthcare segment, it makes money by co...
Cigna Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum driven by specialty drug growth, Evernorth and Cigna Healthcare outperformance, AI-enabled clinical initiatives with measurable outcomes, solid revenue and EPS beats, and an upgraded full-year EPS outlook. Offsetting items include PBS earnings pressure from transition investments and economic shifts due to biosimilars, moderating GLP-1 utilization, persistently elevated medical cost trends, IDR-related affordability concerns, and one-time special charges. Overall, the positive drivers (revenue growth, margin gains in Specialty, upgraded guidance, retention/new-business strength, AI initiatives) materially outweigh the manageable challenges described.Positive Updates
Strong Q2 Financial Results
Total revenues of $71.7 billion and adjusted earnings per share of $7.78 in Q2; adjusted after-tax earnings of $2.1 billion for the quarter. Company delivered results ahead of expectations across the enterprise.
Negative Updates
Pharmacy Benefit Services Earnings Pressure and Transition Investment
Pretax adjusted earnings for Pharmacy Benefit Services were $609 million, down from prior year. Results were impacted by renewals/extensions of large client contracts and investments for transition to the rebate-free 'Signature' model; transition expenses will continue at similar levels in 2027 before ramping down later.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Q2 Financial Results
Total revenues of $71.7 billion and adjusted earnings per share of $7.78 in Q2; adjusted after-tax earnings of $2.1 billion for the quarter. Company delivered results ahead of expectations across the enterprise.
Read all positive updates
Company Guidance
Cigna raised its full‑year 2026 adjusted EPS outlook to at least $30.45 (Q2 adjusted EPS $7.78; Q2 adjusted after‑tax earnings $2.1B) on total Q2 revenues of $71.7B; segment guidance includes Evernorth full‑year pretax adjusted earnings of at least $6.9B (Q2 Evernorth revenues $61.5B; Q2 pretax adj earnings $1.7B; Specialty & Care Q2 pretax adj earnings $1.1B, +22% y/y; PBS Q2 pretax adj earnings $609M) and Cigna Healthcare full‑year pretax adjusted earnings of at least $4.55B (Q2 revenues $11.8B; Q2 pretax adj earnings $1.3B). Management reiterated full‑year medical care ratio guidance (Q2 MCR 84.5%) and expects Q3 MCR slightly above Q2, second‑half adjusted EPS to be split roughly evenly between Q3 and Q4, and Cigna Healthcare’s Q3 pretax adjusted earnings to be over 60% of second‑half earnings. Capital/cash metrics: Q2 operating cash flow in line with expectations, full‑year operating free cash flow ~ $9B (back‑half weighted), debt‑to‑capitalization 42.8% at June 30 (targeting ~40% year‑end), repurchased ~900k shares for ~$250M in Q2; Q2 after‑tax special items were $153M ($0.58/sh).Cigna Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 282.38B | 274.95B | 247.12B | 195.26B | 180.52B | 174.07B |
| Gross Profit | 32.93B | 25.99B | 25.96B | 25.18B | 23.50B | 22.95B |
| EBITDA | 11.77B | 11.61B | 11.45B | 10.85B | 10.44B | 9.96B |
| Net Income | 6.42B | 5.96B | 3.43B | 5.16B | 6.70B | 5.37B |
Balance Sheet | ||||||
| Total Assets | 157.08B | 157.92B | 155.88B | 152.76B | 143.88B | 154.89B |
| Cash, Cash Equivalents and Short-Term Investments | 6.30B | 7.68B | 8.21B | 8.75B | 6.83B | 6.00B |
| Total Debt | 31.88B | 31.46B | 31.97B | 30.93B | 31.55B | 34.27B |
| Total Liabilities | 114.17B | 116.05B | 114.64B | 106.41B | 98.98B | 107.70B |
| Stockholders Equity | 42.62B | 41.71B | 41.03B | 46.22B | 44.87B | 47.11B |
Cash Flow | ||||||
| Free Cash Flow | 9.11B | 8.39B | 8.96B | 10.24B | 7.36B | 6.04B |
| Operating Cash Flow | 10.28B | 9.60B | 10.36B | 11.81B | 8.66B | 7.19B |
| Investing Cash Flow | -5.95B | -4.41B | -2.10B | -5.17B | 3.10B | -3.61B |
| Financing Cash Flow | -2.34B | -6.42B | -7.65B | -4.29B | -11.24B | -8.21B |
Cigna Technical Analysis
Neutral
279.32
Price Trends
277.37
Negative
280.85
Negative
277.25
Negative
Market Momentum
-2.12
Positive
49.24
Neutral
57.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CI, the sentiment is Neutral. The current price of 279.32 is above the 20-day moving average (MA) of 275.38, above the 50-day MA of 277.37, and above the 200-day MA of 277.25, indicating a bearish trend. The MACD of -2.12 indicates Positive momentum. The RSI at 49.24 is Neutral, neither overbought nor oversold. The STOCH value of 57.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $71.69B | 11.31 | 15.24% | 2.26% | 8.15% | 31.47% | |
70 Outperform | $339.81B | 24.20 | 14.63% | 2.41% | 6.46% | -32.89% | |
70 Outperform | $85.56B | 17.78 | 11.24% | 1.72% | 6.27% | -4.37% | |
65 Neutral | $48.52B | 37.96 | 6.91% | 0.88% | 18.33% | -18.53% | |
62 Neutral | $31.76B | -6.21 | -24.03% | ― | 13.89% | -356.11% | |
62 Neutral | $111.28B | 22.57 | 6.43% | 3.08% | 7.41% | 6.51% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CI
Cigna
274.37
-25.96
-8.64%
CNC
Centene
64.61
26.19
68.17%
CVS
CVS Health
86.43
11.68
15.63%
HUM
Humana
404.27
112.20
38.42%
UNH
UnitedHealth
376.32
22.09
6.24%
ELV
Elevance Health
400.09
49.57
14.14%
Cigna Corporate Events
Business Operations and StrategyFinancial Disclosures
Cigna Unveils ‘Lead to One’ Growth Vision
Positive
Sep 30, 2026
On Sept. 30, 2026, The Cigna Group used its Investor Day to unveil “Lead to One,” a unifying vision aimed at delivering personalization at scale and improving affordability across the health care continuum. Management emphasized that i...
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.