Stock Analysis on Net

Cigna Group (NYSE:CI)

Enterprise Value (EV) 

Microsoft Excel

Current Enterprise Value (EV)

Cigna Group, current enterprise value calculation

Microsoft Excel
Current share price (P) $329.00
No. shares of common stock outstanding 273,678,464
US$ in millions
Common equity (market value)1 90,040
Add: Other noncontrolling interests (per books) 210
Total equity 90,250
Add: Short-term debt (per books) 3,035
Add: Long-term debt (per books) 28,937
Total equity and debt 122,222
Less: Cash and cash equivalents 7,550
Less: Investments 665
Enterprise value (EV) 114,007

Based on: 10-K (reporting date: 2024-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 329.00 × 273,678,464


Historical Enterprise Value (EV)

Cigna Group, EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2 $302.92 $336.14 $294.65 $224.43 $209.34
No. shares of common stock outstanding1 273,678,464 292,355,022 297,059,973 320,953,245 351,845,606
US$ in millions
Common equity (market value)3 82,903 98,272 87,529 72,032 73,655
Add: Other noncontrolling interests (book value) 210 21 13 18 7
Total equity 83,113 98,293 87,542 72,050 73,662
Add: Short-term debt (book value) 3,035 2,775 2,993 2,545 3,374
Add: Long-term debt (book value) 28,937 28,155 28,100 31,125 29,545
Total equity and debt 115,085 129,223 118,635 105,720 106,581
Less: Cash and cash equivalents 7,550 7,822 5,924 5,081 10,182
Less: Investments 665 925 905 920 1,331
Enterprise value (EV) 106,870 120,476 111,806 99,719 95,068

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Cigna Group Annual Report.

3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 302.92 × 273,678,464

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Cigna Group EV increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.