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Primary reporting period: 2025-12-31 · Research updated Oct 11, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
The Cigna Group operates as a global health company through two primary segments: Evernorth Health Services, which provides pharmacy benefit management and specialty care services, and Cigna Healthcare, which offers medical insurance plans and health benefits solutions. The company generates revenue primarily through premiums for insured health plans, administrative fees for self-funded employer arrangements, and pharmacy benefit management services.
Products & services
Medical, dental, behavioral health, pharmacy, and vision insurance plans; pharmacy benefit management; specialty pharmacy services; and care coordination programs.
Brands & revenue mix
Cigna Healthcare
Primary brand for health benefits and insurance products.
Separate brand revenue is not available in this research.Source
Evernorth
Primary brand for pharmacy and care services.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company does not disclose specific customer concentration figures in its 2025 10-K filing.
Suppliers, materials & equipment
Pharmaceutical manufacturers — The company sources pharmaceutical products and rebates from various manufacturers for its pharmacy benefit management operations; specific supplier names are not disclosed.Source
Healthcare providers — The company maintains networks of hospitals, physicians, and other healthcare professionals to provide services to its members; specific provider names are not disclosed.Source
Competitors
UnitedHealth Group — Competes in health insurance and pharmacy benefit management services.Source
Elevance Health — Competes in health insurance and managed care services.Source
CVS Health — Competes in pharmacy benefit management and retail pharmacy services.Source
Strengths
Integrated pharmacy and medical benefit capabilitiesSource
Overall investment score · Quality, value, risk and opportunity
71
Strong
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
69
Fair
Financial Strength
72
Business Quality / Moat
66
Management
91
Growth Quality
32
Risk / Durability
79
Cheap for a Reason · Review the Risks
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
75
Fair
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
74/100
Building Historical Record
Model Score 74/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is strong across its combined quality, valuation and risk inputs. Review Company Quality separately to assess the business without its share price.
At today’s price, the WSS valuation framework currently reads as relatively attractive.
The model outlook is currently positive.
What we like
•Strong overall Wall Street Score
•Balance-sheet / debt profile scores strongly
•Valuation scores attractively
•Recent buyback activity is present
What to watch
•Revenue fundamentals are weak
Company-specific research
Questions worth answering for CI
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can CI maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is CI's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is CI's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•Is CI's valuation discount tied to a temporary concern or to a longer-term business risk?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CI
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on CI.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Integrated pharmacy and medical benefit capabilities.
+Extensive global provider network.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Healthcare Plans industry.
−Regulatory and legislative changes in healthcare.
−Intense competition in the health services industry.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Strong71/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Strong
85
Debt Cost4.4%
Debt Reduction YoY1.6%
Debt / Equity0.75x
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Revenue
Weak
48
Revenue YoY2.7%
Revenue CAGR18.7%
Net Margin2.3%
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Asset
Fair
57
Asset Growth YoY1.3%
Liquidation/Share$161.35
Net Assets/MCap1.74x
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Capital
Strong
86
Earnings Yield8.9%
Buyback Yield7.2%
Debt Cost4.4%
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Management
Elite
91
ROIC11.0%
ROE15.1%
ROA4.1%
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Moat
Fair
66
EPS Growth20.8%
FCF/Share Growth8.4%
Rev/Share Growth21.4%
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Valuation
Elite
97
Intrinsic Value$933.63
Value Reference$560.17
MOS68.3%
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Buffett
Strong
73
Revenue48
Moat66
Valuation97
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MOS
Elite
100
MOS %68.3%
Value Reference$560.17
Deep Discount Reference$373.45
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Financial
Poor
38
Interest Coverage6.6x
ROIC11.0%
FCF Yield11.7%
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Master
Fair
58
Financial38
Valuation97
Debt85
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Resilience
Fair
50
Survival Years0.7 yrs
Current Ratio0.85x
FCF Margin3.1%
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Score Changes
5 historical score records available
Previous Score
69
Sep 14, 2026
Change
+1.1
points
Current Score
71
Oct 1, 2026
Category Changes
Revenue+0.5
Debt0
Assets0
Capital+3.0
Management0
Moat+0.7
Valuation0
Buffett+0.2
CI increased 1.1 points because Capital improved by 3 points.
Positive Contributors
+ Capital improved by 3 points
Projected Score
Projected Score
72
Projected Change
+1.0 points
Preliminary comparable-period financial changes suggest improvement of approximately 1.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Review model assumptions
This model estimate is more than three times the share price.
This is a formula-based estimate, not a verified fair value or price target. Check the earnings and growth assumptions.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$282.38B
$274.95B
$247.12B
$195.26B
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Cost of Revenue
$249.45B
$248.97B
$221.16B
$170.09B
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Gross Profit
$32.93B
$25.99B
$25.96B
$25.18B
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$13.96B
$14.00B
$14.57B
$14.32B
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Operating Expenses
$23.17B
$16.86B
$16.55B
$16.64B
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EBITDA
$11.77B
$11.61B
$11.45B
$10.85B
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Operating Income
$9.76B
$9.13B
$9.42B
$8.54B
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Interest Expense
$1.40B
$1.38B
$1.44B
$1.45B
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Income Before Tax
$8.45B
$7.59B
$5.27B
$5.51B
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Income Tax Expense
$1.51B
$1.34B
$1.49B
$141.0M
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Net Income
$6.42B
$5.96B
$3.43B
$5.16B
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Basic EPS
$24.25
$22.30
$12.25
$17.57
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Basic Shares
264M
266M
280M
297M
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Diluted Shares
264M
266M
283M
297M
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Upgrade to Premium for up to 10 annual periods, where available.
Estimated earnings date:A future estimated earnings date is not currently available.
Jun 30, 2026Q2FY2026
Revenue
$71.67B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$6.29
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+3.6%
Cash Change
+45.5%
Margin Change
+0.0 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Cash position grew
What Weakened
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 6.6%. EPS increased 10.2%. Cash increased 45.5%. Total debt increased 3.6%. Net income margin was essentially unchanged.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.