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The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. It operates through two segments: Evernorth Health Services and Cigna Healthcare. The Evernorth Health Services segment includes Pharmacy Benefit Services and Specialty and Care Services, offering pharmacy benefit management, drug claim adjudication, retail pharmacy network administration, benefit design consultation, drug utilization review, drug formulary management, pharmacy benefits, home delivery pharmacy, specialty pharmacy, specialty pharmaceutical distribution, and clinical programs for whole-person health outcomes. The Cigna Healthcare segment comprises U.S. Healthcare and International Health, delivering comprehensive medical and coordinated solutions such as employer medical plans, individual and family plans, behavioral health, consumer health engagement, dental, pharmacy management, stop-loss insurance, global health care, and local health care solutions, as well as health care benefits for mobile individuals and employees of multinational organizations. The company offers other operations, including corporate-owned life insurance, reinsurance, and certain run-off and non-strategic businesses. The company distributes its products and services through brokers and consultants; directly to employers, unions and other groups, or individuals; and private and public exchanges. The company was formerly known as Cigna Corporation and changed its name to The Cigna Group in February 2023. The company was founded in 1792 and is headquartered in Bloomfield, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $274.9B | - | $6.0B | $8.4B | 14.3% | 11.7% | 73.5% |
| 2024 | $246.1B | $9.5B | $3.4B | $9.0B | 8.4% | -94.9% | -86.7% |
| 2023 | $4.9T | $171.2B | $25.8B | $10.2B | 55.9% | 2605.4% | 285.1% |
| 2022 | $179.4B | $12.6B | $6.7B | $7.4B | 15.0% | - | - |
| 2021 | - | $60.0B |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 179,363 | 4,852,475 | 246,148 | 274,876 |
| Operating Revenue | - | 168,482 | 907,400 | 231,358 | 274,876 |
| Cost Of Revenue | 1,360,062 | 157,018 | 4,252,200 | 221,157 | - |
| Gross Profit | 192,618 | 22,345 | 600,275 | 24,991 | - |
| Operating Expense | 177,048 | 15,050 | 688,875 | 16,547 | - |
| Selling General And Administration | - | 13,174 | 74,110 | 14,844 | 14,617 |
| Total Expenses | - | 172,068 | 4,941,075 | 237,704 | 267,095 |
| Operating Income | 15,570 | 7,295 | -88,600 | 8,444 | - |
| Total Operating Income As Reported | 23,823 | 8,450 | 42,680 | 9,417 | - |
| EBITDA | 59,958 | 12,562 | 171,220 | 9,479 | - |
| Normalized EBITDA | 45,504 | 10,232 | 181,495 | 11,219 | - |
| EBIT | - | 9,625 | 34,795 | 6,704 | 9,189 |
| Interest Expense | - | 1,228 | 7,230 | 1,435 | 1,408 |
| Net Interest Income | - | -1,228 | -108,450 | -1,435 | -1,408 |
| Other Non Operating Income Expenses | -42 | 2,188 | -165,150 | - | - |
| Other Income Expense | - | 2,330 | -175,425 | -1,740 | 216,672 |
| Interest Expense Non Operating | - | 1,228 | 7,230 | 1,435 | 1,408 |
| Net Non Operating Interest Income Expense | - | -1,228 | -108,450 | -1,435 | -1,408 |
| Pretax Income | - | 8,397 | 27,565 | 5,269 | 7,781 |
| Tax Provision | - | 1,615 | 705 | 1,491 | 1,493 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 447.36 | -267.15 | -492.42 | 2.50 |
| Net Income Continuous Operations | - | 6,782 | 26,860 | 3,778 | 6,288 |
| Net Income From Continuing And Discontinued Operation | - | 6,704 | 25,820 | 3,434 | 5,957 |
| Net Income From Continuing Operation Net Minority Interest | - | 6,704 | 25,820 | 3,434 | 5,957 |
| Net Income | - | 6,704 | 25,820 | 3,434 | 5,957 |
| Net Income Common Stockholders | - | 6,704 | 25,820 | 3,434 | 5,957 |
| Net Income Including Noncontrolling Interests | - | 6,782 | 26,860 | 3,778 | 6,288 |
| Normalized Income | - | 4,821.36 | 35,827.85 | 4,681.58 | 5,946.50 |
| Diluted NI Availto Com Stockholders | - | 6,704 | 25,820 | 3,434 | 5,957 |
| Basic Average Shares | - | 313.06 | 296.88 | 283.22 | 268.56 |
| Diluted Average Shares | - | 313.06 | 296.88 | 283.22 | 268.56 |
| Reconciled Depreciation | - | 2,937 | 3,035 | 2,775 | 2,775 |
| Reconciled Cost Of Revenue | 1,393,103 | 155,957 | 4,385,590 | 220,085 | - |
| Total Unusual Items | - | 2,330 | -10,275 | -1,740 | 13 |
| Total Unusual Items Excluding Goodwill | - | 2,330 | -10,275 | -1,740 | 13 |
| Minority Interests | - | -78 | -1,040 | -344 | -331 |
| Special Income Charges | - | 1,662 | -37,475 | 24 | 13 |
| Gain On Sale Of Business | 0 | 1,662 | -7,495 | 24 | - |
| Other Special Charges | - | -3,324 | 29,980 | -24 | -13 |
| Gain On Sale Of Security | 15,723 | 668 | 27,200 | -1,764 | - |
| Depreciation Amortization Depletion Income Statement | 35,964 | 1,876 | 136,425 | 1,703 | - |
| Depreciation And Amortization In Income Statement | - | 1,876 | 45,475 | 1,703 | 1,743 |
| Total Other Finance Cost | 18,120 | 4,912 | 101,220 | - | - |
| Other Operating Expenses | - | 30,124 | 478,340 | 182,509 | 214,991 |
| Amortization | - | 1,876 | 9,095 | 1,703 | 1,743 |
| Amortization Of Intangibles Income Statement | 5,994 | 1,876 | 9,095 | 1,703 | - |
| Loss Adjustment Expense | - | 32,184 | 36,287 | 38,648 | 34,349 |
| Net Policyholder Benefits And Claims | - | 32,184 | 36,287 | 38,648 | 34,349 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Cigna Groupthis co. | CI | $74.2B | 12.46↓ discount | 1.78 | 14.3% | 10.24 |
| McKesson Corporation | MCK | $91.0B | 19.11 | -41.89 | -219.2% | 13.32 |
| Elevance Health, Inc. | ELV | $88.9B | 15.70 | 2.03 | 12.9% | - |
| HCA Healthcare, Inc. | HCA | $80.3B | 11.83 | -13.32 | -112.6% | 8.20 |
| Boston Scientific Corporation | BSX | $72.6B | 25.05 |
| - |
| - |
| - |
| - |
| - |
| 3.00 |
| 12.0% |
| 16.09 |
| Regeneron Pharmaceuticals, Inc. | REGN | $65.9B | 14.63 | 2.11 | 14.4% | 11.26 |
| Cencora, Inc. | COR | $52.6B | 33.84 | 34.88 | 103.1% | 14.92 |
| Edwards Lifesciences Corporation | EW | $50.4B | 46.91 | 4.87 | 10.4% | 33.19 |
| Cardinal Health, Inc. | CAH | $47.2B | 30.27 | -16.99 | -56.1% | 16.71 |
| Peer Median | - | 22.08 | 2.07 | 11.2% | 14.92 | |