Stock Analysis on Net

Cigna Group (NYSE:CI)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Cigna Group, historical price multiples (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Price to earnings (P/E) 24.14 28.81 25.07 27.03 19.03 17.59 12.80 11.43 13.13 14.99 15.60 15.72 13.43 8.43 8.60 10.62 8.71
Price to operating profit (P/OP) 8.80 9.41 10.37 11.15 11.51 11.38 10.51 9.34 10.40 12.05 10.20 10.40 9.08 9.12 9.28 11.13 9.03
Price to sales (P/S) 0.34 0.38 0.43 0.48 0.51 0.49 0.46 0.42 0.49 0.55 0.48 0.48 0.42 0.42 0.42 0.55 0.46
Price to book value (P/BV) 2.02 2.08 2.25 2.38 2.13 2.04 1.87 1.73 1.95 2.20 1.86 1.84 1.53 1.49 1.44 1.86 1.46 1.61 1.34 1.51

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Cigna Group P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Cigna Group P/OP ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Cigna Group P/S ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Cigna Group P/BV ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Earnings (P/E)

Cigna Group, historical P/E calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 273,678,464 278,152,606 279,548,797 284,074,001 292,355,022 292,619,966 295,980,135 295,872,231 297,059,973 305,739,004 305,116,202 317,273,452 320,953,245 331,427,775 340,107,539 343,145,549 351,845,606 361,267,280 367,200,629 368,980,984
Selected Financial Data (US$)
Shareholders’ net income (loss) (in millions) 1,424 739 1,548 (277) 1,029 1,408 1,460 1,267 1,169 2,757 1,559 1,183 1,116 1,621 1,467 1,161 4,135 1,388 1,754 1,181
Earnings per share (EPS)2 12.55 10.93 13.26 12.74 17.66 18.13 22.48 22.82 22.45 21.64 17.96 16.98 16.72 25.30 23.97 24.59 24.04 0.00 0.00 0.00
Share price1, 3 302.92 314.81 332.60 344.50 336.14 318.89 287.64 260.74 294.65 324.24 280.10 266.90 224.43 213.16 206.21 261.18 209.34 214.16 173.07 184.18
Valuation Ratio
P/E ratio4 24.14 28.81 25.07 27.03 19.03 17.59 12.80 11.43 13.13 14.99 15.60 15.72 13.43 8.43 8.60 10.62 8.71
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 17.46 34.10 33.17 32.73 34.57 31.95 36.16 33.21 26.76 21.95 22.24 25.48 29.13 31.42 33.80 36.79 48.49
CVS Health Corp. 17.28 15.46 9.88 9.66 11.47 10.28 33.58 22.61 27.53 40.34 16.30 16.49 17.39 16.78 14.94 14.44 12.88
Elevance Health Inc. 14.85 16.06 18.05 19.55 19.80 18.14 17.03 17.46 19.20 18.75 18.07 20.46 18.13 18.65 22.10 19.99 15.87
Intuitive Surgical Inc. 87.82 82.75 77.23 65.38 74.11 61.96 79.78 79.43 64.99 56.03 52.74 55.10 59.94 71.86 69.15 89.95 87.47
Medtronic PLC 27.97 26.49 25.70 29.96 30.94 26.88 24.40 22.61 23.38 29.39 30.66 46.71 46.56 55.13 42.80 32.34 26.30 25.38 31.86 32.75
UnitedHealth Group Inc. 29.75 35.85 36.59 30.38 20.53 22.75 22.15 22.01 22.46 26.13 27.70 27.29 26.03 27.92 27.41 23.06 20.54

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
EPS = (Shareholders’ net income (loss)Q4 2024 + Shareholders’ net income (loss)Q3 2024 + Shareholders’ net income (loss)Q2 2024 + Shareholders’ net income (loss)Q1 2024) ÷ No. shares of common stock outstanding
= (1,424,000,000 + 739,000,000 + 1,548,000,000 + -277,000,000) ÷ 273,678,464 = 12.55

3 Closing price as at the filing date of Cigna Group Quarterly or Annual Report.

4 Q4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 302.92 ÷ 12.55 = 24.14

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Cigna Group P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Operating Profit (P/OP)

Cigna Group, historical P/OP calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 273,678,464 278,152,606 279,548,797 284,074,001 292,355,022 292,619,966 295,980,135 295,872,231 297,059,973 305,739,004 305,116,202 317,273,452 320,953,245 331,427,775 340,107,539 343,145,549 351,845,606 361,267,280 367,200,629 368,980,984
Selected Financial Data (US$)
Income from operations (in millions) 2,173 2,576 2,412 2,256 2,060 2,240 2,221 2,015 1,725 2,141 2,381 2,167 1,537 2,294 2,147 1,957 1,345 2,108 2,639 2,061
Operating profit per share2 34.41 33.45 32.08 30.90 29.20 28.03 27.37 27.92 28.32 26.91 27.46 25.67 24.72 23.36 22.22 23.46 23.17 0.00 0.00 0.00
Share price1, 3 302.92 314.81 332.60 344.50 336.14 318.89 287.64 260.74 294.65 324.24 280.10 266.90 224.43 213.16 206.21 261.18 209.34 214.16 173.07 184.18
Valuation Ratio
P/OP ratio4 8.80 9.41 10.37 11.15 11.51 11.38 10.51 9.34 10.40 12.05 10.20 10.40 9.08 9.12 9.28 11.13 9.03
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 34.28 29.37 28.44 28.99 30.54 27.48 30.47 27.70 22.18 18.35 18.63 21.33 24.45 26.84 29.01 31.39 40.69
CVS Health Corp. 9.36 8.14 5.74 5.62 6.96 6.32 15.41 11.67 14.75 20.01 9.97 10.06 10.43 9.43 7.87 7.61 6.65
Elevance Health Inc. 12.19 13.12 14.89 15.42 15.57 14.38 13.36 13.61 15.05 15.30 14.72 17.53 15.70 15.81 19.93 15.79 12.10
Intuitive Surgical Inc. 86.83 89.92 82.80 70.29 75.42 55.63 70.08 66.95 54.49 46.65 44.54 49.98 56.11 67.95 69.51 89.18 88.37
Medtronic PLC 19.98 19.69 18.94 19.27 21.20 19.53 17.99 19.55 20.48 25.40 27.20 38.83 37.44 49.88 42.55 35.86 26.29 21.01 23.52 22.21
UnitedHealth Group Inc. 13.27 15.94 16.11 14.49 14.20 15.63 15.33 15.41 15.89 18.75 19.96 19.69 18.77 19.63 19.05 16.12 14.12

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Operating profit per share = (Income from operationsQ4 2024 + Income from operationsQ3 2024 + Income from operationsQ2 2024 + Income from operationsQ1 2024) ÷ No. shares of common stock outstanding
= (2,173,000,000 + 2,576,000,000 + 2,412,000,000 + 2,256,000,000) ÷ 273,678,464 = 34.41

3 Closing price as at the filing date of Cigna Group Quarterly or Annual Report.

4 Q4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 302.92 ÷ 34.41 = 8.80

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Cigna Group P/OP ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Sales (P/S)

Cigna Group, historical P/S calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 273,678,464 278,152,606 279,548,797 284,074,001 292,355,022 292,619,966 295,980,135 295,872,231 297,059,973 305,739,004 305,116,202 317,273,452 320,953,245 331,427,775 340,107,539 343,145,549 351,845,606 361,267,280 367,200,629 368,980,984
Selected Financial Data (US$)
Revenues from external customers (in millions) 65,372 63,609 60,202 56,965 50,824 48,727 48,308 46,240 45,539 45,076 45,155 43,591 45,308 43,820 42,821 40,580 41,341 40,658 39,042 38,116
Sales per share2 899.41 832.64 775.24 721.02 663.92 645.25 625.59 615.16 603.79 585.89 582.97 553.28 537.55 508.59 486.32 471.00 452.35 0.00 0.00 0.00
Share price1, 3 302.92 314.81 332.60 344.50 336.14 318.89 287.64 260.74 294.65 324.24 280.10 266.90 224.43 213.16 206.21 261.18 209.34 214.16 173.07 184.18
Valuation Ratio
P/S ratio4 0.34 0.38 0.43 0.48 0.51 0.49 0.46 0.42 0.49 0.55 0.48 0.48 0.42 0.42 0.42 0.55 0.46
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 5.58 4.77 4.53 4.57 4.93 4.13 4.64 4.64 4.25 3.85 4.18 4.42 4.78 5.38 5.36 5.64 6.30
CVS Health Corp. 0.22 0.21 0.20 0.20 0.27 0.26 0.29 0.27 0.36 0.40 0.43 0.44 0.47 0.45 0.39 0.40 0.35
Elevance Health Inc. 0.51 0.60 0.71 0.72 0.70 0.66 0.66 0.68 0.74 0.77 0.75 0.89 0.81 0.78 0.73 0.76 0.60
Intuitive Surgical Inc. 24.42 23.60 21.35 17.76 18.71 13.72 17.06 16.21 13.81 12.62 12.69 15.34 17.89 22.12 21.73 23.19 21.29
Medtronic PLC 3.18 3.44 3.30 3.44 3.72 3.55 3.42 3.79 3.72 4.54 4.54 5.74 5.57 5.71 5.43 5.11 4.36 4.34 4.82 4.72
UnitedHealth Group Inc. 1.08 1.32 1.35 1.24 1.25 1.39 1.35 1.37 1.40 1.62 1.66 1.61 1.58 1.55 1.47 1.49 1.24

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Sales per share = (Revenues from external customersQ4 2024 + Revenues from external customersQ3 2024 + Revenues from external customersQ2 2024 + Revenues from external customersQ1 2024) ÷ No. shares of common stock outstanding
= (65,372,000,000 + 63,609,000,000 + 60,202,000,000 + 56,965,000,000) ÷ 273,678,464 = 899.41

3 Closing price as at the filing date of Cigna Group Quarterly or Annual Report.

4 Q4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 302.92 ÷ 899.41 = 0.34

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Cigna Group P/S ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Price to Book Value (P/BV)

Cigna Group, historical P/BV calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 273,678,464 278,152,606 279,548,797 284,074,001 292,355,022 292,619,966 295,980,135 295,872,231 297,059,973 305,739,004 305,116,202 317,273,452 320,953,245 331,427,775 340,107,539 343,145,549 351,845,606 361,267,280 367,200,629 368,980,984
Selected Financial Data (US$)
Shareholders’ equity (in millions) 41,033 42,095 41,332 41,181 46,223 45,691 45,445 44,502 44,872 45,041 45,892 46,087 47,112 47,415 48,709 48,149 50,321 48,032 47,366 45,079
Book value per share (BVPS)2 149.93 151.34 147.85 144.97 158.11 156.14 153.54 150.41 151.05 147.32 150.41 145.26 146.79 143.06 143.22 140.32 143.02 132.95 128.99 122.17
Share price1, 3 302.92 314.81 332.60 344.50 336.14 318.89 287.64 260.74 294.65 324.24 280.10 266.90 224.43 213.16 206.21 261.18 209.34 214.16 173.07 184.18
Valuation Ratio
P/BV ratio4 2.02 2.08 2.25 2.38 2.13 2.04 1.87 1.73 1.95 2.20 1.86 1.84 1.53 1.49 1.44 1.86 1.46 1.61 1.34 1.51
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 4.91 4.94 4.69 4.75 5.12 4.40 5.02 5.21 5.06 4.85 5.21 5.56 5.75 6.61 6.38 6.27 6.65 6.30 5.94 5.40
CVS Health Corp. 1.05 1.03 0.95 0.96 1.25 1.19 1.35 1.26 1.61 1.80 1.77 1.79 1.83 1.71 1.47 1.51 1.33 1.24 1.24 1.21
Elevance Health Inc. 2.15 2.35 2.86 3.01 3.02 2.87 2.86 2.90 3.19 3.24 3.08 3.55 3.07 2.88 2.67 2.78 2.19 2.10 2.06 2.23
Intuitive Surgical Inc. 12.41 11.91 10.99 9.31 10.01 7.49 9.57 9.29 7.78 6.71 6.29 7.48 8.59 10.64 10.35 10.40 9.53 9.35 9.19 7.22
Medtronic PLC 2.05 2.15 2.05 2.12 2.26 2.12 2.03 2.23 2.24 2.75 2.77 3.52 3.26 3.14 3.02 2.84 2.48 2.60 2.94 2.87
UnitedHealth Group Inc. 4.63 5.43 5.77 5.38 5.18 5.84 5.68 5.60 5.81 6.80 6.94 6.54 6.27 6.13 5.76 5.86 4.83 4.54 4.53 4.81

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 41,033,000,000 ÷ 273,678,464 = 149.93

3 Closing price as at the filing date of Cigna Group Quarterly or Annual Report.

4 Q4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 302.92 ÷ 149.93 = 2.02

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Cigna Group P/BV ratio decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.