Cigna Corp (CI) fair value: what the stock is really worth
As of Oct 21, 2026: fair value (intrinsic value) of Cigna Corp stock $496, price $304, upside +62.9%, quality 66 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range $174.86 – $351.99 · fair‑value band $349.51 – $619.96 · the $304.37 price screens below the $495.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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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.
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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.
Stock analysis
Cigna Corp (CI) currently trades at $304.37, while our model-based Fair Value estimate is $495.96, implying the stock looks roughly 38.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $645.55 per share, and 18 of the 24 models we run sit above the $304.37 price.
Bear case: the Dividend Discount group reads lowest at $111.33, and 6 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $349.51 (bear) to $619.96 (bull), the price of $304.37 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cigna Corp reported revenue of $275B in FY2025 versus $174B in FY2021, a compound +12.1%/yr. Reported net income was $6.0B in FY2025, compounding +2.6%/yr from FY2021.
Key figures
Market cap $80.3B Large · P/E ratio 12.6 · P/S ratio 0.29 · EPS (TTM) $24.19 · Dividend yield 2.0% · Net margin 2.3% · Return on equity 16.8% · Return on assets (EBIT) 5.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (medium confidence).
What moves the price
The share trades about 1% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 63%, CI screens cheaper than that median.
Fair Value models
Bear$349.51Fair Value $495.96Bull$619.96
Price $304.37 · Upside +62.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($14.59 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.4%
Start year 2020 (pandemic). Over 10 years: +21.9% a year
Revenue growth 36 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+13.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.9%
Dividend (yield on the price)2.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.3% vs 11.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 3%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−3.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −5.5% a year for the price and +1.5% for the forecasts.
AI conclusion: Scale in healthcare networks supports moderate organization capital as the main strength, while thin margins and regulation limit pricing power along with overall moat durability.
Main risk: Regulatory hurdles in this regulated industry could slow data integration and thereby pressure the thin net margins.
Cigna is introducing Health Sense to link each person's health details, benefits and clinical support into one personalized experience, starting rollout in early 2027 for oncology and cardiometabolic needs. The approach targets a 10 percent cut in inefficient spending by 2030 by acting on better context sooner. Our models see the stock as undervalued, yet will the data integration deliver those efficiency gains before regulatory or competitive hurdles slow it down?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Healthcare Plans” was too small, so the broader sector is used.)Health Care · 2361 stocks
Beats the sector median on 11/14 measures
Overall it ranks above its sector peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+62.9% · Top 25%
Profitability
Return on equity (12 months)16.8% · Top 25%
Return on assets3.8% · Above median
Net margin (12 months)2.3% · Below median
Operating margin (12 months)4.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.7% · Above median
Dividend yield (12 months)2.0% · Above median
Balance sheet
Debt / equity0.74× · Highest 25%
Valuation Multiplesvs Health Care median · lower = cheaper
P/E (12 months)12.6× · Cheapest 25%
P/B1.93× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cigna Corp Fair Value". https://www.fairvalue-calculator.com/stock/CI
Frequently asked questions
Is Cigna Corp (CI) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $495.96 versus a price of $304.37, about +63% upside (undervalued).
What is the fair value of CI?
Our model-based fair value for Cigna Corp is $495.96 (as of Oct 22, 2026), built from audited fundamentals. The current price: $304.37.
What is the quality score of CI?
Cigna Corp has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cigna Corp (CI)?
Our model-based price target is the fair value of $495.96 (as of Oct 22, 2026) from 24 valuation models. Cautious scenario $349.51, optimistic scenario $619.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Cigna Corp stock forecast for 2026?
Our models put fair value at $495.96, about +63% upside versus a price of $304.37 (undervalued). Cautious scenario $349.51, optimistic scenario $619.96. The calculation is refreshed regularly with new filings.
What is the revenue of Cigna Corp (CI)?
Cigna Corp reported trailing-twelve-month revenue of about $282B (latest available figure, as of Oct 22, 2026).
Does Cigna Corp pay a dividend?
Cigna Corp currently shows a dividend yield of 2.02% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Cigna Corp (CI)?
For today's price to be fair in a discounted-cash-flow model, Cigna Corp would have to grow free cash flow by -3.2 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.4 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of CI use?
Our models discount Cigna Corp at 8.1 %: a base by market capitalisation (large), damped by beta 0.30, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cigna Corp that is -3.2 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Cigna Corp (CI) delivered so far?
Over the past 5 years revenue at Cigna Corp grew +11.4 % a year. The price currently implies -3.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cigna Corp (CI) growing?
The median revenue growth in the sector is +5.6 % a year. That is the yardstick for the growth priced into Cigna Corp (-3.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cigna Corp (CI)?
The free-cash-flow yield on the price is 10.44 %: that much free cash flow Cigna Corp produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cigna Corp (CI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cigna Corp it is $495.96 per share (as of Oct 22, 2026), against a price of $304.37. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Cigna Corp stock overvalued or undervalued in 2026?
As of Oct 22, 2026, CI trades below its calculated fair value: price $304.37, fair value $495.96, a gap of about +63% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CI?
No. The price is what the market pays today ($304.37); the fair value is what the company's own numbers justify ($495.96). For Cigna Corp the two are $191.59 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cigna Corp worth?
The market values Cigna Corp at about $80.3B (market capitalisation, as of Oct 22, 2026). Per share that is $304.37; our models calculate a fair value of $495.96 per share.
What do the bullish and bearish scenarios say about CI?
Our models span a range for Cigna Corp: cautious scenario $349.51, base $495.96, optimistic $619.96 per share (as of Oct 22, 2026, price $304.37). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CI?
Cigna Corp trades at a price-to-earnings ratio of 12.6 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $495.96 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 12.9 (reported for FY2025: 13.6). Other multiples: PEG 0.8, P/B 1.9, P/S 0.3, EV/EBITDA 8.1.
What is the PEG ratio of CI?
The PEG ratio of Cigna Corp is 0.75 (P/E divided by earnings growth, as of Oct 22, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Cigna Corp (CI)?
Balance-sheet figures for Cigna Corp (as of Oct 22, 2026): return on equity 16.8%, debt of 0.74 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is CI from its 52-week high?
Cigna Corp trades at $304.37, about 1% below its 52-week high of $306.60 and 27% above the low of $238.99 (as of Oct 21, 2026). Distance from the high says nothing about value: that is what the fair value of $495.96 is for.
Which stocks are comparable to Cigna Corp?
From the same area (Healthcare) we also value UnitedHealth Group, CVS Health Corporation, Elevance Health, Inc, Humana Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cigna Corp stock attractive at the current price?
The data as of Oct 22, 2026: price $304.37, calculated fair value $495.96 (+63%), Quality Score 66/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CI calculated?
We run Cigna Corp through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $495.96, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.6 % above its aggregate fair value. Cigna Corp currently trades 39 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cigna Corp (CI)?
The closing price on Oct 21, 2026 was $304.37. Our model-based fair value is $495.96, about +63% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cigna Corp right now?
The price is below even our cautious bear case ($349.51). The market is more pessimistic than our downside scenario. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Cigna Corp (CI) come from?
Earnings per share at Cigna Corp grew +9.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +21.9 %, EBIT margin −18.6 %, tax rate +3.2 %, residual (interest, one-offs) +6.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cigna Corp
How large is the market capitalisation of Cigna Corp (CI)?
The market capitalisation of Cigna Corp is $80.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cigna Corp (CI)?
The price-to-sales ratio of Cigna Corp is 0.29 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cigna Corp (CI)?
Earnings per share at Cigna Corp are $24.19 (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cigna Corp (CI)?
The dividend yield of Cigna Corp is 2.0% (payout 24.1%, on adjusted earnings, reported 25.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cigna Corp (CI)?
The net margin of Cigna Corp is 2.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cigna Corp (CI)?
The return on equity (ROE) of Cigna Corp is 16.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cigna Corp (CI)?
On an EBIT basis the return on assets of Cigna Corp is 5.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cigna Corp (CI)?
The operating margin of Cigna Corp is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cigna Corp (CI)?
Revenue at Cigna Corp is growing +6.7% versus a year earlier (3y avg +15.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cigna Corp (CI)?
Earnings per share at Cigna Corp are growing +10.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cigna Corp (CI) carry?
The net debt of Cigna Corp is $23.8B (fiscal year 2025, ≈ 2.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 22, 2026