Cigna Corporation (CI) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Healthcare Plans
EV/EBITDA
↓
8.20
↓-21% vs avg
5yr avg: 10.37
30Y Low0.8·High18.9
P/FCF
↓
8.66
↓-19% vs avg
5yr avg: 10.64
30Y Low3.4·High129.7
P/B Ratio
↑
1.75
-8% vs avg
5yr avg: 1.91
30Y Low1.1·High4.0
ROE
↑
14.3%
↓+21% vs avg
5yr avg: 11.8%
30Y Low-10%·High31%
Debt/EBITDA
↓
2.67
↓-11% vs avg
5yr avg: 3.02
30Y Low0.2·High9.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Cigna Corporation trades at 12.4x earnings, 25% below its 5-year average of 16.5x, sitting at the 38th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.2x, the stock trades at a discount of 44%. On a free-cash-flow basis, the stock trades at 8.7x P/FCF, 19% below the 5-year average of 10.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $72.7B | $73.2B | $78.2B | $88.9B | $103.7B | $78.3B | $76.7B | $77.7B | $46.8B | $49.5B | $34.6B |
| Enterprise Value | $96.5B | $97.0B | $102.6B | $112.0B | $129.4B | $107.5B | $100.1B | $111.1B | $85.5B | $52.0B | $36.5B |
| P/E Ratio → | 12.43 | 12.41 | 22.78 | 17.22 | 15.48 | 14.58 | 9.07 | 15.22 | 18.02 | 22.15 | 18.55 |
| P/S Ratio | 0.26 | 0.27 | 0.32 | 0.46 | 0.57 | 0.45 | 0.48 | 0.51 | 0.96 | 1.19 | 0.87 |
| P/B Ratio | 1.75 | 1.75 | 1.90 | 1.92 | 2.31 | 1.66 | 1.52 | 1.71 | 1.14 | 3.59 | 2.51 |
| P/FCF | 8.66 | 8.73 | 8.73 | 8.68 | 14.09 | 12.97 | 8.29 | 9.21 | 14.45 | 13.71 | 9.72 |
| P/OCF | 7.57 | 7.62 | 7.55 | 7.53 | 11.98 | 10.89 | 7.41 | 8.19 | 12.43 | 12.13 | 8.60 |
P/E links to full P/E history page with 30-year chart
CI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Cigna Corporation's enterprise value stands at 8.2x EBITDA, 21% below its 5-year average of 10.4x. The Healthcare sector median is 14.0x, placing the stock at a 41% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.35 | 0.42 | 0.57 | 0.72 | 0.62 | 0.62 | 0.72 | 1.76 | 1.24 | 0.92 |
| EV / EBITDA | 8.20 | 8.25 | 9.19 | 10.82 | 12.55 | 11.03 | 10.05 | 10.24 | 18.93 | 12.41 | 10.81 |
| EV / EBIT | 10.57 | 10.81 | 10.59 | 12.40 | 15.08 | 13.17 | 11.68 | 12.60 | 17.57 | 12.61 | 11.22 |
| EV / FCF | — | 11.56 | 11.46 | 10.94 | 17.57 | 17.80 | 10.81 | 13.17 | 26.36 | 14.39 | 10.23 |
CI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Cigna Corporation earns an operating margin of 3.3%. Operating margins have compressed from 4.4% to 3.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 14.3% is modest. ROIC of 10.4% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.5% | 9.5% | 10.5% | 12.9% | 13.0% | 13.2% | 15.1% | 16.3% | 33.6% | 33.7% | 32.7% |
| Operating Margin | 3.3% | 3.3% | 3.8% | 4.4% | 4.7% | 4.6% | 5.1% | 5.3% | 8.6% | 9.4% | 7.8% |
| Net Profit Margin | 2.2% | 2.2% | 1.4% | 2.6% | 3.7% | 3.1% | 5.3% | 3.3% | 5.4% | 5.4% | 4.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.3% | 7.8% | 11.3% | 14.6% | 11.0% | 17.7% | 11.8% | 9.6% | 16.2% | 14.4% |
| ROA | 3.8% | 3.8% | 2.2% | 3.5% | 4.5% | 3.5% | 5.4% | 3.3% | 2.5% | 3.7% | 3.2% |
| ROIC | 10.4% | 10.4% | 10.5% | 9.1% | 8.6% | 7.9% | 8.0% | 7.6% | 6.5% | 18.5% | 15.0% |
| ROCE | 9.2% | 9.2% | 9.3% | 8.3% | 7.9% | 6.9% | 6.9% | 6.8% | 4.8% | 7.7% | 6.0% |
CI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Cigna Corporation carries a Debt/EBITDA ratio of 2.7x, which is moderately leveraged (14% below the sector average of 3.1x). Net debt stands at $23.8B ($31.5B total debt minus $7.7B cash). Interest coverage of 6.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.75 | 0.75 | 0.78 | 0.67 | 0.70 | 0.73 | 0.67 | 0.84 | 1.03 | 0.39 | 0.37 |
| Debt / EBITDA | 2.67 | 2.67 | 2.86 | 2.99 | 3.06 | 3.52 | 3.37 | 3.51 | 9.41 | 1.30 | 1.49 |
| Net Debt / Equity | — | 0.57 | 0.59 | 0.50 | 0.57 | 0.62 | 0.46 | 0.74 | 0.94 | 0.18 | 0.13 |
| Net Debt / EBITDA | 2.02 | 2.02 | 2.19 | 2.23 | 2.49 | 3.00 | 2.35 | 3.08 | 8.55 | 0.59 | 0.55 |
| Debt / FCF | — | 2.84 | 2.73 | 2.26 | 3.48 | 4.83 | 2.53 | 3.96 | 11.91 | 0.68 | 0.52 |
| Interest Coverage | 6.50 | 6.50 | 6.75 | 6.25 | 6.99 | 6.76 | 5.96 | 5.24 | 9.77 | 16.37 | 11.70 |
CI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.85x is below 1.0, meaning current liabilities exceed current assets — though the company's $7.7B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.77x to 0.85x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 0.84 | 0.77 | 0.73 | 0.83 | 0.77 | 0.74 | 0.64 | 0.85 | 1.63 |
| Quick Ratio | 0.72 | 0.72 | 0.73 | 0.65 | 0.61 | 0.74 | 0.68 | 0.68 | 0.55 | 0.83 | 1.63 |
| Cash Ratio | 0.14 | 0.14 | 0.14 | 0.18 | 0.17 | 0.14 | 0.32 | 0.14 | 0.18 | 0.46 | 0.47 |
| Asset Turnover | — | 1.74 | 1.59 | 1.28 | 1.25 | 1.12 | 1.03 | 0.99 | 0.32 | 0.68 | 0.67 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Cigna Corporation returns 7.2% to shareholders annually — split between a 2.2% dividend yield and 5.0% buyback yield. The payout ratio of 27.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | 2.2% | 2.0% | 1.6% | 1.3% | 1.7% | 0.0% | 0.0% | — | — | — |
| Payout Ratio | 27.0% | 27.0% | 45.6% | 28.1% | 20.6% | 25.0% | 0.2% | 0.3% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.0% | 8.1% | 4.4% | 5.8% | 6.5% | 6.9% | 11.0% | 6.6% | 5.5% | 4.5% | 5.4% |
| FCF Yield | 11.5% | 11.5% | 11.5% | 11.5% | 7.1% | 7.7% | 12.1% | 10.9% | 6.9% | 7.3% | 10.3% |
| Buyback Yield | 5.0% | 4.9% | 9.0% | 2.6% | 7.3% | 9.9% | 5.3% | 2.6% | 0.7% | 5.5% | 0.4% |
| Total Shareholder Yield | 7.2% | 7.1% | 11.0% | 4.2% | 8.7% | 11.6% | 5.3% | 2.6% | 0.7% | 5.5% | 0.4% |
| Shares Outstanding | — | $266M | $283M | $297M | $313M | $341M | $368M | $380M | $247M | $244M | $260M |
Peer Comparison
Compare CI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CIYou | $73B | 12.4 | 8.2 | 8.7 | 9.5% | 3.3% | 14.3% | 10.4% | 2.7 |
 UNH | $330B | 27.5 | 16.5 | 20.5 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 ELV | $80B | 14.7 | 10.8 | 25.3 | 25.6% | 4.1% | 13.3% | 9.1% | 3.4 |
 CVS | $103B | 58.1 | 12.5 | 13.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
 HUM | $29B | 24.3 | 16.5 | 76.7 | 14.5% | 1.1% | 7.0% | 4.1% | 5.7 |
 CNC | $26B | -3.9 | — | 6.1 | 12.2% | -3.9% | -28.7% | -21.6% | — |
 MOH | $10B | 21.5 | 10.0 | — | 9.0% | 1.7% | 11.0% | 17.4% | 4.0 |
 ESNT | $6B | 8.8 | 7.2 | 6.9 | 93.6% | 67.5% | 13.6% | 11.3% | 0.6 |
 MCK | $98B | 31.1 | 19.9 | 18.8 | 3.5% | 1.2% | — | 540.6% | 1.5 |
 CAH | $46B | 30.5 | 16.9 | 25.1 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
 HCSG | $2B | 26.8 | 21.7 | 11.2 | 13.0% | 2.6% | 11.7% | 9.0% | 0.4 |
| Healthcare Median | — | 22.2 | 14.0 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCI — Frequently Asked Questions
Quick answers to the most common questions about buying CI stock.
What is Cigna Corporation's P/E ratio?
Cigna Corporation's current P/E ratio is 12.4x. The historical average is 13.8x. This places it at the 38th percentile of its historical range.
What is Cigna Corporation's EV/EBITDA?
Cigna Corporation's current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.4x.
What is Cigna Corporation's ROE?
Cigna Corporation's return on equity (ROE) is 14.3%. The historical average is 16.3%.
Is CI stock overvalued?
Based on historical data, Cigna Corporation is trading at a P/E of 12.4x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Cigna Corporation's dividend yield?
Cigna Corporation's current dividend yield is 2.20% with a payout ratio of 27.0%.
What are Cigna Corporation's profit margins?
Cigna Corporation has 9.5% gross margin and 3.3% operating margin.
How much debt does Cigna Corporation have?
Cigna Corporation's Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.