Cigna Group (CI) intrinsic value & 10-year financials
Cigna Group (CI) has a Graham intrinsic value of $672.81 per share. At $302.30 on Oct 17, 2026, the stock trades 55% below that value. Over the last 10 fiscal years revenue grew 23.9% a year to $274.9B, with an average return on invested capital of 10.6%.
- Graham intrinsic value
- $672.81
- Share price (Oct 17, 2026)
- $302.30
- Price vs Graham value
- 55% below
- Market cap
- $81.2B
- Revenue (FY2025)
- $274.9B
- Revenue growth (10-yr CAGR)
- 23.9%
- ROIC (10-yr avg)
- 10.6%
- Free cash flow (FY2025)
- —
CI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $274.9B | $6.0B | $22.18 | — | 3.3% | 11.6% |
| FY2024 | $247.1B | $3.4B | $12.12 | — | 3.8% | 10.2% |
| FY2023 | $195.3B | $5.2B | $17.39 | — | 4.4% | 12.4% |
| FY2022 | $180.5B | $6.7B | $21.30 | — | 4.7% | 9.7% |
| FY2021 | $174.1B | $5.4B | $15.73 | — | 4.6% | 8.9% |
| FY2020 | $160.4B | $8.5B | $22.96 | — | 5.1% | 9.0% |
| FY2019 | $153.6B | $5.1B | $13.44 | $8.4B | 5.3% | 8.4% |
| FY2018 | $48.6B | $2.6B | $10.54 | $3.2B | 8.6% | 6.6% |
| FY2017 | $41.8B | $2.2B | $8.77 | $3.6B | 9.4% | 15.3% |
| FY2016 | $39.8B | $1.8B | $7.19 | $3.6B | 7.8% | 13.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Cigna is a consistent compounder, expanding top-line revenue at 23.9% annually over the past decade.
Cigna returns on capital have been average, hovering around 10.2% ROIC over the decade.
Cigna has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Cigna is modeled at 13.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $672.81 per share.