Cigna Corporation (CI) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Healthcare Plans
EV/EBITDA
↓
8.28
↓-20% vs avg
5yr avg: 10.37
30Y Low0.8·High18.9
P/FCF
↓
8.78
↓-18% vs avg
5yr avg: 10.64
30Y Low3.4·High129.7
P/B Ratio
↑
1.77
-7% 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 12.6x earnings, 24% 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 22.1x, the stock trades at a discount of 43%. On a free-cash-flow basis, the stock trades at 8.8x P/FCF, 18% 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 | $73.6B | $73.2B | $78.2B | $88.9B | $103.7B | $78.3B | $76.7B | $77.7B | $46.8B | $49.5B | $34.6B |
| Enterprise Value | $97.4B | $97.0B | $102.6B | $112.0B | $129.4B | $107.5B | $100.1B | $111.1B | $85.5B | $52.0B | $36.5B |
| P/E Ratio → | 12.60 | 12.41 | 22.78 | 17.22 | 15.48 | 14.58 | 9.07 | 15.22 | 18.02 | 22.15 | 18.55 |
| P/S Ratio | 0.27 | 0.27 | 0.32 | 0.46 | 0.57 | 0.45 | 0.48 | 0.51 | 0.96 | 1.19 | 0.87 |
| P/B Ratio | 1.77 | 1.75 | 1.90 | 1.92 | 2.31 | 1.66 | 1.52 | 1.71 | 1.14 | 3.59 | 2.51 |
| P/FCF | 8.78 | 8.73 | 8.73 | 8.68 | 14.09 | 12.97 | 8.29 | 9.21 | 14.45 | 13.71 | 9.72 |
| P/OCF | 7.67 | 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 8.3x EBITDA, 20% below its 5-year average of 10.4x. The Healthcare sector median is 14.2x, placing the stock at a 42% 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 | 8.28 | 8.25 | 9.19 | 10.82 | 12.55 | 11.03 | 10.05 | 10.24 | 18.93 | 12.41 | 10.81 |
| EV / EBIT | 10.67 | 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 (17% below the sector average of 3.2x). 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 7.1% to shareholders annually — split between a 2.2% dividend yield and 4.9% buyback yield. The payout ratio of 27.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.9% (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 | 7.9% | 8.1% | 4.4% | 5.8% | 6.5% | 6.9% | 11.0% | 6.6% | 5.5% | 4.5% | 5.4% |
| FCF Yield | 11.4% | 11.5% | 11.5% | 11.5% | 7.1% | 7.7% | 12.1% | 10.9% | 6.9% | 7.3% | 10.3% |
| Buyback Yield | 4.9% | 4.9% | 9.0% | 2.6% | 7.3% | 9.9% | 5.3% | 2.6% | 0.7% | 5.5% | 0.4% |
| Total Shareholder Yield | 7.1% | 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 | $74B | 12.6 | 8.3 | 8.8 | 9.5% | 3.3% | 14.3% | 10.4% | 2.7 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 ELV | $84B | 15.5 | 11.2 | 26.6 | 25.6% | 4.1% | 13.3% | 9.1% | 3.4 |
 CVS | $125B | 70.7 | 14.0 | 16.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
 HUM | $43B | 36.7 | 22.9 | 115.5 | 14.5% | 1.1% | 7.0% | 4.1% | 5.7 |
 CNC | $30B | -4.5 | — | 7.0 | 12.2% | -3.9% | -28.7% | -21.6% | — |
 MOH | $10B | 21.9 | 10.1 | — | 9.0% | 1.7% | 11.0% | 17.4% | 4.0 |
 ESNT | $5B | 8.5 | 7.0 | 6.3 | 88.2% | 65.2% | 12.1% | 10.2% | 0.6 |
 MCK | $90B | 19.6 | 13.2 | 15.8 | 3.6% | 1.6% | — | 254.1% | 1.2 |
 CAH | $52B | 34.4 | 18.8 | 28.2 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
 HCSG | $2B | 28.3 | 23.1 | 11.8 | 13.0% | 2.6% | 11.7% | 9.0% | 0.4 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into CI consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
CI — 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 12.6x. 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 8.3x. 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 12.6x. 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 2.17% 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.