CI
Cigna Corporation
CI's fundamentals are mixed: revenue grew 6.8%, while its operating margin held steady at 3.4%. At 13x earnings, it's trading in line with its usual 14x. Analysts expect earnings growth.
CI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Healthy |
CI's balance sheet is currently healthy, and its revenue, profitability and cash flow are stable.
CI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.1x | $296 | — |
| Cheap | 12x | $262 | -12% |
| Current | 13x | $296 | — |
| Fair | 14x | $327 | +10% |
| Expensive | 19x | $439 | +48% |
Historical ranges are pointers, not guarantees.
CI's PE is in its fair range at 13x. If earnings grow as analysts expect, today's price would be 9.1x next year's earnings, in its cheap range.
CI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for CI, with profitability holding steady.
CI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $32.59 | +44% |
| Q3 2026 | $22.66 | +0.5% |
| Q2 2026 | $24.17 | +33% |
| Q1 2026 | $23.59 | +31% |
| Q4 2025 | $22.18 | +83% |
| Q3 2025 | $22.55 | +113% |
| Q2 2025 | $18.20 | +43% |
| Q1 2025 | $17.94 | +47% |
| Q4 2024 | $12.12 | -30% |
CI earned $22.66 per share over the past year, about the same as the year before.
CI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $73.7B | +5.6% |
| Q2 2026 | $71.7B | +6.7% |
| Q1 2026 | $68.5B | +4.6% |
| Q4 2025 | $72.5B | +10% |
| Q3 2025 | $69.7B | +9.5% |
| Q2 2025 | $67.2B | +11% |
| Q1 2025 | $65.5B | +14% |
| Q4 2024 | $65.6B | +28% |
CI's revenue has grown year over year every quarter since late 2020: $73.7B last quarter, up 5.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.3% | -0.5 points |
| Q2 2026 | 3.7% | +0.3 points |
| Q1 2026 | 3.4% | +0.4 points |
| Q4 2025 | 3.2% | -0.1 points |
| Q3 2025 | 3.7% | -0.3 points |
| Q2 2025 | 3.4% | -0.6 points |
| Q1 2025 | 3% | -0.9 points |
| Q4 2024 | 3.3% | -0.7 points |
CI's operating margin was 3.3% last quarter, about level with the same quarter a year ago.
CI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | -25% |
| Q2 2026 | -$421M | +$1.5B |
| Q1 2026 | $1.1B | -41% |
| Q4 2025 | $6.1B | +18% |
| Q3 2025 | $3.4B | +7330% |
| Q2 2025 | -$1.9B | -812% |
| Q1 2025 | $1.9B | -60% |
| Q4 2024 | $5.2B | +255% |
CI generated $9.4B in free cash flow over the past year, up 8.8% from the year before.
CI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -174K shares |
| 1 year | -1.4% | -3.7M shares |
| 3 years | -11% | -33.3M shares |
| 5 years | -22% | -73.8M shares |
| Available history | -31% | -116M shares |
CI has 264M diluted shares, down 1.4% from a year ago, with $1.5B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $251M |
| Q2 2026 | $280M |
| Q1 2026 | — |
| Q4 2025 | $1B |
| Q3 2025 | — |
| Q2 2025 | $1.1B |
| Q1 2025 | $1.5B |
| Q4 2024 | $2B |
CI spent $1.5B buying back its own shares over the past year, down 67% from the year before.
CI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 2.0x | Moderate |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 2.4x | Moderate |
| Q2 2025 | 2.3x | Moderate |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 2.0x | Moderate |
CI's net debt is about 2.0 years of its operating earnings (EBITDA), down from 2.4 years a year ago.
CI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.0 | Neutral |
| Stochastic | 60.8 | Neutral |
CI's weekly RSI is 56 (neutral) and its Stochastic is 61 (neutral).
CI PE vs Healthcare Sector
| Metric | CI | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 49% below |
| PE % | 40 | 29 | 11 pts above |
CI is trading at 13x earnings, a 49% discount to the Healthcare sector's median of 26x.
CI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $290.3 | 2.1% above |
| 20 week MA | $285.7 | 3.7% above |
| 50 week MA | $281.4 | 5.3% above |
| 100 week MA | $291.1 | 1.8% above |
| 200 week MA | $299.9 | 1.2% below |
CI has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 1.2% below its 200-week average.
CI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $204.0 | $198.8 | -2.5% |
| 2021 | $198.8 | $225.9 | +14% |
| 2022 | $225.9 | $334.3 | +48% |
| 2023 | $334.3 | $299.5 | -10% |
| 2024 | $299.5 | $278.7 | -6.9% |
| 2025 | $278.7 | $276.5 | -0.8% |
| 2026 YTD | $276.5 | $296.3 | +7.1% |
CI has finished three years in a row lower, and it's up 7.1% so far in 2026.