Company Valuation: Cigna

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 76,106 101,304 87,625 76,809 73,521 74,796 - -
Change - 33.11% -13.5% -12.34% -4.28% 1.73% - -
Enterprise Value (EV) 1 104,695 126,473 110,733 101,231 97,308 96,143 93,022 87,058
Change - 20.8% -12.45% -8.58% -3.88% -1.2% -3.25% -6.41%
P/E 14.6x 15.6x 17.2x 22.8x 12.4x 11.3x 9.91x 9.07x
PBR 1.57x 2.21x 1.89x 1.84x 1.74x 1.71x 1.58x 1.45x
PEG - 0.4x -0.9x -0.8x 0.1x 0.9x 0.7x 0.98x
Capitalization / Revenue 0.44x 0.56x 0.45x 0.31x 0.27x 0.26x 0.25x 0.24x
EV / Revenue 0.6x 0.7x 0.57x 0.41x 0.35x 0.34x 0.31x 0.28x
EV / EBITDA 9.42x 11x 9.24x 8.38x 7.88x 7.26x 6.46x 5.77x
EV / EBIT 13.2x 15x 13x 10.7x 10.6x 9.55x 8.34x 7.51x
EV / FCF 17.3x 17.2x 10.8x 11.3x 11.6x 11.9x 9.58x 9.07x
FCF Yield 5.77% 5.82% 9.25% 8.85% 8.62% 8.38% 10.4% 11%
Dividend per Share 2 4 4.48 4.92 5.6 6.04 6.178 6.447 6.75
Rate of return 1.74% 1.35% 1.64% 2.03% 2.19% 2.18% 2.28% 2.38%
EPS 2 15.73 21.3 17.39 12.12 22.18 24.96 28.55 31.2
Distribution rate 25.4% 21% 28.3% 46.2% 27.2% 24.8% 22.6% 21.6%
Net sales 1 174,078 180,642 195,322 247,099 274,900 286,620 298,699 315,486
EBITDA 1 11,118 11,522 11,980 12,083 12,351 13,240 14,405 15,090
EBIT 1 7,935 8,414 8,536 9,417 9,200 10,068 11,158 11,585
Net income 1 5,365 6,668 5,164 3,434 5,957 6,567 7,640 7,710
Net Debt 1 28,589 25,169 23,108 24,422 23,787 21,347 18,226 12,262
Reference price 2 229.63 331.34 299.45 276.14 275.23 283.06 283.06 283.06
Nbr of stocks (in thousands) 331,428 305,739 292,620 278,153 267,126 264,240 - -
Announcement Date 2/3/22 A 2/3/23 A 2/2/24 A 1/30/25 A 2/5/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.49x0.9x13.61x2.32% 356B
19.45x0.56x10.62x1.71% 87.41B
11.34x0.34x7.26x2.18% 74.8B
55.14x0.34x19.38x0.93% 47.42B
17x0.14x9.59x-.--% 32.22B
68.93x0.21x13.1x-.--% 10.58B
75.02x0.46x15.31x-.--% 2.82B
77.44x0.72x27.07x-.--% 2.28B
19.95x1.31x7.6x-.--% 1.97B
Average 40.64x 0.55x 13.73x 0.79% 68.36B
Weighted average by Cap. 23.59x 0.69x 12.68x 1.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield