Zacks Investment Research·5 days ago
Cigna Brings AI to Specialty Pharmacy With Pharmacy ForwardCigna's Evernorth launched AI-powered Pharmacy Forward to speed up specialty prescriptions, cut delays and boost efficiency with a $100M investment.
Cigna Corporation(CI)Earnings, Financials & Key Ratios
CI•NYSE
$286.62
12.9× P/E·Price updated Jul 7, 2026
AboutThe Cigna Group provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers. The company's Cigna Healthcare segment offers medical, pharmacy, behavioral health, dental, vision, health advocacy programs, and other products and services for insured and self-insured customers; Medicare Advantage, Medicare Supplement, and Medicare Part D plans for seniors, as well as individual health insurance plans to on and off the public exchanges; and health care coverage in its international markets, as well as health care benefits for mobile individuals and employees of multinational organizations. The company also offers permanent insurance contracts sold to corporations to provide coverage on the lives of certain employees for financing employer-paid future benefit obligations. It distributes its products and services through insurance brokers and consultants; directly to employers, unions and other groups, or individuals; and private and public exchanges. The company was founded in 1792 and is headquartered in Bloomfield, Connecticut.Show more
- Revenue$274.95B+11.3%
- EBITDA$11.76B+5.3%
- Net Income$5.96B+73.5%
- EPS (Diluted)22.17+82.9%
- Gross Margin9.45%-10.0%
- EBITDA Margin4.28%-5.4%
- Operating Margin3.32%-12.9%
- Net Margin2.17%+55.9%
- ROE14.33%+82.8%
CI Price & Volume
Cigna Corporation (CI) stock price & volume — 10-year historical chart
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Earnings Volatility Masks Structural PBM Margin Pressures
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Decelerating
Profitability:Strained
Financial:Adequate
Cash Flow:Mixed
Primary Risk:Regulatory PBM rebate reform
Key Thesis Takeaways
- Cigna faces a challenging outlook as revenue growth has decelerated from a 29.9% peak in 2024Q3 to 4.6% by 2026Q1, signaling a transition toward a more mature, slower-growth phase.
- While the company maintains a disciplined debt-to-equity ratio between 0.67 and 0.81, the heavy reliance on $45.5 billion in goodwill and inconsistent operating margins between 3.0% and 4.0% leaves the firm vulnerable to regulatory scrutiny regarding PBM rebate models.
- Investors should remain cautious as the company prioritizes aggressive capital allocation, such as the $4.0 billion share repurchase in 2024Q1, despite significant quarterly earnings volatility and erratic cash conversion cycles.
Verdict Logic
while the forward P/E of 9.29 suggests a discounted valuation, the persistent instability in free cash flow margins, which ranged from -3.2% to 8.0% over the last ten quarters, warrants a wait-and-see approach regarding regulatory impacts on PBM profitability.
CI Growth Metrics
Cigna Corporation (CI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years21.92%
5 Years11.38%
3 Years15.06%
TTM8.84%
Profit CAGR
10 Years11.02%
5 Years-6.77%
3 Years-3.86%
TTM24.91%
EPS CAGR
10 Years10.68%
5 Years-0.7%
3 Years1.17%
TTM30.56%
Return on Capital
10 Years7.39%
5 Years8.3%
3 Years8.91%
Last Year9.15%
CI Recent Earnings
Cigna Corporation (CI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 30, 2026Metric
Actual
Est
EPS
$7.79+2.5%
$7.60
Rev
$68.5B+3.3%
$66.3B
Q1 2026
Feb 5, 2026Metric
Actual
Est
EPS
$8.08+2.5%
$7.88
Rev
$72.5B+3.1%
$70.3B
Q4 2025
Oct 30, 2025Metric
Actual
Est
EPS
$7.83+2.5%
$7.64
Rev
$69.7B+3.2%
$67.6B
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$7.20+0.6%
$7.16
Rev
$67.2B+6.9%
$62.9B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $7.79vs $7.60+2.5% | $68.5Bvs $66.3B+3.3% |
| Q1 2026 | Feb 5, 2026 | $8.08vs $7.88+2.5% | $72.5Bvs $70.3B+3.1% |
| Q4 2025 | Oct 30, 2025 | $7.83vs $7.64+2.5% | $69.7Bvs $67.6B+3.2% |
| Q3 2025 | Jul 31, 2025 | $7.20vs $7.16+0.6% | $67.2Bvs $62.9B+6.9% |
Based on last 12 quarters of dataView full earnings history →
Latest CI News
Recent stock market news and headlines for Cigna Corporation (CI)
PRNewsWire·6 days ago
Evernorth Launches Pharmacy Forward: A Simpler, Faster Specialty Pharmacy Experience for Patients Managing Complex ConditionsNew program introduces AI-enabled capabilities to personalize support, streamline prescription processing, and help patients start and stay on therapy with greater ease and confidence BLOOMFIELD, Conn., July 1, 2026 /PRNewswire/ -- As specialty care becomes more complex, patients need faster, more connected, and personalized support.
Zacks Investment Research·Jun 25, 2026
Can Cigna's Expansion Beyond Health Insurance Fuel Long-Term Growth?CI is evolving beyond traditional insurance, using AI, specialty pharmacy and healthcare services to drive growth and sharpen its business focus.
PRNewsWire·Jun 25, 2026
The Cigna Group Foundation Honors David M. Cordani's Leadership with New Grant to Strengthen Military CommunitiesNew "Courage in Service" grant builds on company's long-standing support for military and veteran communities. BLOOMFIELD, Conn.
Zacks Investment Research·Jun 24, 2026
Here's Why Cigna (CI) is a Strong Momentum StockWhether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
Peers Comparison
Key metrics vs top competitors for Cigna Corporation (CI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $286.62 | $75.57B | 12.93 | 11.26% | 2.17% | 14.33% | 2.11% | |
| $428.19 | $388.86B | 32.37 | 11.81% | 2.68% | 11.54% | — | |
| $418.85 | $90.96B | 16.67 | 12.62% | 2.62% | 11.92% | — | |
| $104.33 | $133.12B | 75.06 | 7.85% | 0.72% | 3.86% | — | |
| $394.62 | $47.38B | 40.10 | 10.06% | 0.82% | 6.17% | — | |
| $66.12 | $32.65B | -4.85 | 19.44% | -3.25% | -28.6% | — |
Compare CI vs Peers
Cigna Corporation (CI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CI SEC Filings & Documents
Cigna Corporation (CI) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 30, 2026·SEC
Material company update
Apr 27, 2026·SEC
Material company update
Mar 3, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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CI Frequently Asked Questions
Cigna Corporation (CI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Cigna Corporation's revenue?
Cigna Corporation (CI) reported $277.94B in revenue for fiscal year 2025. This represents a 1367% increase from $18.95B in 1996.
How fast is Cigna Corporation growing?
Cigna Corporation (CI) grew revenue by 11.3% over the past year. This is steady growth.
Is CI profitable?
Yes, Cigna Corporation (CI) is profitable, generating $6.29B in net income for fiscal year 2025 (2.2% net margin).
Dividend & Returns
Does CI pay dividends?
Yes, Cigna Corporation (CI) pays a dividend with a yield of 2.11%. This makes it attractive for income-focused investors.
What is CI's return on equity?
Cigna Corporation (CI) has a return on equity (ROE) of 14.3%. This is reasonable for most industries.
What is Cigna Corporation's free cash flow?
Cigna Corporation (CI) generated $7.66B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.