The Cigna Group (CI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$7.6	$7.78	+2.4%	—	—	—
Q3 26	$7.61	$7.79	+2.4%	—	—	—
Q2 26	$7.88	$8.08	+2.5%	—	—	—
Q1 26	$7.15	$7.2	+0.7%	—	—	—
Q4 25	$6.35	$6.74	+6.1%	—	—	—
Q3 25	$7.82	$6.64	-15.1%	—	—	—
Q2 25	$7.25	$7.51	+3.6%	—	—	—
Q1 25	$6.42	$6.72	+4.7%	—	—	—
Q4 24	$6.22	$6.47	+4.0%	—	—	—
Q3 24	$6.54	$6.79	+3.8%	—	—	—
Q2 24	$6.68	$6.77	+1.3%	—	—	—
Q1 24	$6.04	$6.13	+1.5%	—	—	—
Q4 23	$5.24	$5.41	+3.2%	—	—	—
Q3 23	$4.87	$4.96	+1.8%	—	—	—
Q2 23	$5.71	$6.04	+5.8%	—	—	—
Q1 23	$5.49	$6.22	+13.3%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$22.3	—	—	$273.9B	—
FY24	—	$12.1	—	—	$244.4B	—
FY23	—	$17.6	—	—	$195.2B	—
FY22	—	$21.3	—	—	$180B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$40B	$42B	$48.6B	$153.7B	$160.6B	$174.3B	$180B	$195.2B	$244.4B	$273.9B
YoY change	+5.63%	+5.09%	+15.5%	+216.5%	+4.43%	+8.54%	+3.31%	+8.42%	+25.2%	+12.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	40B	42B	48.6B	153.7B	160.6B	174.3B	180B	195.2B	244.4B	273.9B
Cost of revenue	—	—	—	—	—	—	—	—	—	249.3B
Gross profit	—	—	—	—	—	—	—	—	—	24.5B
Gross margin	—	—	—	—	—	—	—	—	—	8.95%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	9.8B	10B	11.9B	14.1B	14.1B	13B	13.2B	14.8B	14.8B	14.6B
Operating expenses	12.3B	12.5B	16.7B	111.7B	117.6B	130.6B	138B	148.6B	197.4B	229.6B
Operating income	—	—	—	—	—	—	—	—	—	8.2B
Operating margin	—	—	—	—	—	—	—	—	—	2.98%
Non-operating income, net	3B	3B	5.5B	103.1B	107.8B	121.4B	128.6B	137.2B	185.4B	1B
Pretax income	3B	3.6B	3.6B	6.6B	10.9B	6.8B	8.4B	5.5B	5.3B	7.8B
Income tax	1.1B	1.4B	935M	1.4B	2.4B	1.4B	1.6B	141M	1.5B	1.5B
Net income	1.8B	2.2B	2.6B	5.1B	8.5B	5.4B	6.8B	5.4B	3.8B	6.3B
Net margin	4.61%	5.31%	5.45%	3.33%	5.29%	3.11%	3.77%	2.75%	1.55%	2.3%
EBITDA	—	—	—	—	—	—	—	—	—	10.9B
EPS	7.31	9.17	10.7	13.6	23.2	15.9	21.3	17.6	12.1	22.3
Diluted EPS	7.19	9.17	10.5	13.4	23	15.8	21.3	17.4	12.1	22.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	49B	51.1B	55.4B	60.5B	62.8B	65.7B	65.5B	66.9B	69.5B	72.1B	68.3B	71.4B
Cost of revenue	—	—	—	—	—	—	—	61B	63.4B	66.1B	62B	65.1B
Gross profit	—	—	—	—	—	—	—	5.9B	6.1B	6.1B	6.3B	6.3B
Gross margin	—	—	—	—	—	—	—	8.85%	8.84%	8.43%	9.18%	8.77%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.8B	4.1B	3.7B	3.7B	3.6B	3.9B	4.2B	3.4B	3.4B	3.6B	3.7B	3.5B
Operating expenses	37.4B	39.3B	45.1B	48.2B	51.2B	52.9B	52.6B	56.7B	58.9B	61.4B	11.9B	3.5B
Operating income	—	—	—	—	—	—	—	2.1B	2.3B	2B	2.2B	2.4B
Operating margin	—	—	—	—	—	—	—	3.09%	3.37%	2.78%	3.16%	3.37%
Non-operating income, net	34.5B	36.6B	42B	45.1B	48.3B	49.9B	48.6B	288M	297M	173M	471M	209M
Pretax income	1.8B	188M	79M	2B	1.2B	2B	1.6B	2B	2.3B	1.8B	2.3B	2.3B
Income tax	391M	-919M	291M	360M	367M	473M	239M	389M	322M	543M	409M	382M
Net income	1.4B	1.1B	-212M	1.6B	825M	1.5B	1.4B	1.6B	2B	1.3B	1.9B	1.9B
Net margin	2.96%	2.17%	-0.38%	2.69%	1.31%	2.34%	2.15%	2.44%	2.84%	1.77%	2.73%	2.63%
EBITDA	—	—	—	—	—	—	—	2.8B	3B	2.7B	2.8B	3.1B
EPS	4.79	3.49	-0.97	5.51	2.63	5.13	4.88	5.76	7.02	4.68	6.3	6.31
Diluted EPS	4.74	3.49	-0.97	5.45	2.63	5.13	4.85	5.71	6.98	4.64	6.26	6.29

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	34.1B	49.5B	46.8B	—	76B	77.6B	103.7B	88B	78.2B	73.4B	71.8B
Enterprise value	35.2B	49.9B	83.4B	—	97.4B	105.3B	128B	110.2B	102B	96.2B	96.8B
Shares outstanding	255.4M	244M	246.7M	375.9M	365M	338M	313.1M	293.9M	283.2M	266.7M	266.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	18.5	22.2	17.7	—	8.95	14.3	15.3	16.4	20.7	11.7	11.2
P/S	0.85	1.18	0.96	—	0.47	0.45	0.58	0.45	0.32	0.27	0.25
P/B	2.47	3.6	1.14	—	1.51	1.64	2.32	1.9	1.9	1.75	1.68
EV/EBITDA	—	—	—	—	—	—	—	—	—	8.81	7.59
EV/Sales	0.88	1.19	1.72	—	0.61	0.6	0.71	0.56	0.42	0.35	0.34
Earnings yield	5.41%	4.5%	5.65%	—	11.2%	6.98%	6.54%	6.1%	4.83%	8.56%	8.93%
FCF yield	10.5%	7.3%	6.92%	—	12.2%	7.78%	7.1%	11.6%	11.5%	11.4%	11.1%
PEG	—	—	—	—	—	—	—	—	—	—	1.17

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	—	—	—	—	—	—	—	—	—	8.95%	8.77%
Operating margin	—	—	—	—	—	—	—	—	—	2.98%	3.98%
Net margin	4.61%	5.31%	5.45%	3.33%	5.29%	3.11%	3.77%	2.75%	1.55%	2.3%	2.27%
ROE	13.4%	16.2%	6.44%	11.3%	16.8%	11.5%	15.2%	11.6%	9.16%	15%	16.8%
ROA	—	—	—	—	—	—	—	—	2.42%	3.98%	4.46%
ROIC	—	—	—	—	—	—	—	—	—	10.2%	10.7%
Return on tangible assets	—	—	—	—	—	—	—	—	45.5%	57.4%	57.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	0.85	0.85
Quick ratio	—	—	—	—	—	—	—	—	—	0.72	0.74
Debt / equity	0.37	0.4	1.03	0.82	0.65	0.71	0.69	0.67	0.78	0.75	0.74
Debt / assets	—	—	—	—	—	—	—	—	0.21	0.2	0.2
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	2.09	2.12
Interest coverage	11.7	15.3	8.19	4.91	8.56	6.62	7.84	4.81	4.67	6.53	7.08
Effective tax rate	38.1%	38.1%	26.1%	22.1%	21.9%	20.2%	19.2%	2.56%	28.3%	19.2%	19.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	156.7	172.3	196.9	409	439.9	515.6	575.1	664.1	862.9	1K	1.1K
EPS (basic)	7.31	9.17	10.7	13.6	23.2	15.9	21.3	17.6	12.1	22.3	22.3
EPS (diluted)	7.19	9.17	10.5	13.4	23	15.8	21.3	17.4	12.1	22.2	24.2
Book value per share	54	56.4	166.5	120.7	138.1	139.6	143	157.7	145.6	157	161.6
FCF per share	14	14.8	13.1	22.4	25.4	17.9	23.5	34.8	31.6	31.4	34.5
Cash per share	15.2	20.9	23.9	14.8	31.5	17.8	21.8	29.8	29	32.4	27.5
Capex per share	1.81	1.93	2.14	2.79	3	3.41	4.14	5.35	4.96	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.15%	1.12%	1.09%	0.68%	0.68%	0.66%	0.72%	0.81%	0.58%	—	—
Capex / operating cash flow	14.8%	13%	17.9%	18.5%	9.89%	31.5%	17.9%	23.8%	25.7%	—	—
Payout ratio	—	—	—	0.29%	0.18%	24.7%	20.4%	27%	41.5%	25.6%	25.4%
Dividend yield	—	—	—	—	0.02%	1.73%	1.33%	1.65%	2%	2.19%	2.29%

Yield

2.29%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.56

ex-dividend Sep 8, 2026

Payout ratio

25%

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$1.56
Jun 4, 2026	$1.56
Mar 5, 2026	$1.56

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$49B	$51.1B	$55.4B	$60.5B	$62.8B	$65.7B	$65.5B	$66.9B	$69.5B	$72.1B	$68.3B	$71.4B
YoY change	+8.48%	+11.6%	+19.3%	+24.4%	+28%	+28.7%	+18.2%	+10.7%	+10.7%	+9.76%	+4.26%	+6.65%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.9B	5.1B	5.9B	5.6B	11.5B	6B	6.8B	8.7B	8.2B	8.6B
Receivables	9.6B	8.7B	15.7B	16B	17.2B	19.6B	22.4B	23.4B	30.4B	28.8B
Inventory	—	—	—	—	—	—	—	—	—	7.3B
Total current assets	—	—	—	—	—	—	—	—	—	47.8B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	3.7B
Goodwill & intangibles	12.8B	13B	167B	162.3B	159.7B	160.1B	156.6B	150.2B	147.6B	147B
Total assets	—	—	—	—	—	—	—	—	155.9B	157.9B
Accounts payable	8.9B	489M	15.1B	15.5B	5.5B	6.7B	7.8B	8.6B	9.3B	46.7B
Short-term debt	276M	240M	3B	5.5B	3.4B	2.5B	3B	2.8B	3B	592M
Total current liabilities	—	—	—	—	—	—	—	—	—	56.3B
Long-term debt	4.8B	5.2B	39.5B	31.9B	29.5B	31.1B	28.1B	28.2B	28.9B	30.9B
Total liabilities	—	—	—	—	—	—	—	—	114.6B	116B
Shareholders' equity	13.8B	13.8B	41.1B	45.4B	50.4B	47.2B	44.8B	46.4B	41.2B	41.9B
Total debt	5B	5.4B	42.5B	37.4B	32.9B	33.7B	31.1B	30.9B	32B	31.5B
Net debt	1.8B	2.5B	38.6B	32.8B	22.7B	28.6B	25.2B	23.1B	24.4B	23.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	9.5B	8.7B	9.5B	7.9B	6.8B	8.2B	9.1B	5B	6.8B	8.6B	7.8B	7.2B
Receivables	24B	23.4B	25.2B	29.7B	32.4B	30.4B	31.3B	31.1B	31.7B	28.8B	26.6B	30.8B
Inventory	—	—	—	—	—	—	—	6B	5.6B	7.3B	5.8B	5.8B
Total current assets	—	—	—	—	—	—	—	44.7B	46.7B	47.8B	43B	47B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	3.7B	—	—
Goodwill & intangibles	154.3B	150.2B	149.5B	148.9B	148.3B	147.6B	146.8B	146.1B	147.8B	147B	145.7B	144.9B
Total assets	—	—	153.1B	155.4B	157.6B	155.9B	150.7B	151.7B	157.9B	157.9B	153.3B	157.1B
Accounts payable	7.7B	8.6B	8.1B	9.3B	8.5B	9.3B	9.1B	45.4B	45.7B	46.7B	42.1B	43.3B
Short-term debt	3B	2.8B	1.7B	1.7B	2.6B	3B	4B	4.3B	3.1B	592M	1.5B	2.8B
Total current liabilities	—	—	—	—	—	—	—	56.8B	56.5B	56.3B	52.6B	55.6B
Long-term debt	28.1B	28.2B	31.1B	30.2B	30.2B	28.9B	26.5B	26.5B	30.9B	30.9B	29.4B	29.1B
Total liabilities	—	—	—	113.9B	115.3B	114.6B	110.2B	111.2B	115.9B	116B	110.8B	114.2B
Shareholders' equity	45.8B	46.4B	41.4B	41.5B	42.3B	41.2B	40.4B	40.4B	42B	41.9B	42.4B	42.9B
Total debt	31.1B	30.9B	32.8B	31.9B	32.8B	32B	30.4B	30.8B	34B	31.5B	30.9B	31.9B
Net debt	22.6B	23.1B	24.3B	25.1B	26.9B	24.4B	22.1B	26.4B	28B	23.8B	23.9B	25.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.8B	2.2B	2.6B	5.1B	8.5B	5.4B	6.8B	5.4B	3.8B	6.3B
Depreciation & amortization	—	—	—	—	—	—	—	—	—	2.8B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	1.2B	633M	126M	869M	2.8B	-1.7B	920M	2.9B	1.8B	-2.8B
Operating cash flow	3.1B	3.6B	2.9B	5.7B	11.1B	3.7B	7.2B	6.6B	5.5B	9.6B
Capital expenditure	-461M	-471M	-528M	-1.1B	-1.1B	-1.2B	-1.3B	-1.6B	-1.4B	—
Investing cash flow	-2.7B	-1.6B	-26.3B	-626M	3.1B	-3.5B	3.2B	-5.2B	-2.2B	-3.2B
Dividends paid	—	—	—	-15M	-15M	-1.3B	-1.4B	-1.4B	-1.6B	-1.6B
Share repurchases	-139M	-2.7B	-342M	-2B	-4B	-7.7B	-7.6B	-2.3B	-7B	-3.6B
Financing cash flow	-225M	-2.7B	23.5B	-7.2B	-8.5B	-8.2B	-11.2B	-4.3B	-7.6B	-6.4B
Net change in cash	155M	-634M	177M	-2.1B	5.6B	-8B	-849M	-2.9B	-4.4B	-15M
Free cash flow	3.6B	3.6B	3.2B	8.4B	9.3B	6B	7.4B	10.2B	9B	8.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.4B	1.1B	-212M	1.6B	825M	1.5B	1.4B	1.6B	2B	1.3B	1.9B	1.9B
Depreciation & amortization	—	—	—	—	—	—	—	682M	697M	722M	650M	655M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	917M	337M	2B	-1.4B	5.8B	3.3B	-1.7B	-5.9B	-191M	1.7B	5B	-3.3B
Operating cash flow	2.3B	88M	1.7B	136M	6.5B	5.1B	-493M	-1.9B	3.4B	6.1B	1.1B	-421M
Capital expenditure	-403M	-365M	-300M	-370M	-399M	-337M	-327M	—	—	—	—	—
Investing cash flow	-1.3B	-516M	-467M	-653M	-801M	-300M	1.1B	-512M	-4.1B	-98M	-370M	-206M
Dividends paid	-362M	-358M	-401M	-392M	-390M	-384M	-412M	-401M	-402M	-396M	-417M	-409M
Share repurchases	-624M	-544M	-4B	-990M	0	-2B	-1.5B	-1.1B	0	-1B	0	-280M
Financing cash flow	-2.6B	-1.3B	-2.5B	-2.3B	439M	-3.2B	-3.7B	-1.3B	2.7B	-4.1B	-1.1B	207M
Net change in cash	-1.6B	-1.7B	-1.3B	-2.8B	6.2B	1.6B	-3B	-3.7B	2B	2B	-380M	-420M
Free cash flow	2.4B	1.1B	4.5B	-105M	-353M	4.9B	1.6B	-2.2B	3.1B	5.8B	864M	-718M

Date	Ratio
Jun 5, 2007	3:1
May 18, 1998	3:1

The Cigna Group Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history