Company Valuation: Cigna

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 76,106 1,01,304 87,625 76,809 73,521 72,538 - -
Change - 33.11% -13.5% -12.34% -4.28% -1.34% - -
Enterprise Value (EV) 1 1,04,695 1,26,473 1,10,733 1,01,231 97,308 92,830 88,484 83,952
Change - 20.8% -12.45% -8.58% -3.88% -4.6% -4.68% -5.12%
P/E ratio 14.6x 15.6x 17.2x 22.8x 12.4x 11.3x 9.89x 8.97x
PBR 1.57x 2.21x 1.89x 1.84x 1.74x 1.62x 1.5x 1.23x
PEG - 0.4x -0.9x -0.8x 0.1x 1.19x 0.7x 0.9x
Capitalization / Revenue 0.44x 0.56x 0.45x 0.31x 0.27x 0.26x 0.24x 0.23x
EV / Revenue 0.6x 0.7x 0.57x 0.41x 0.35x 0.33x 0.3x 0.27x
EV / EBITDA 9.42x 11x 9.24x 8.38x 7.88x 7.11x 6.22x 5.64x
EV / EBIT 13.2x 15x 13x 10.7x 10.6x 9.61x 8.58x 7.65x
EV / FCF 17.3x 17.2x 10.8x 11.3x - 10.2x 8.7x 7.86x
FCF Yield 5.77% 5.82% 9.25% 8.85% - 9.84% 11.5% 12.7%
Dividend per Share 2 4 4.48 4.92 5.6 - 6.215 6.488 6.775
Rate of return 1.74% 1.35% 1.64% 2.03% - 2.26% 2.36% 2.46%
EPS 2 15.73 21.3 17.39 12.12 22.18 24.29 27.83 30.66
Distribution rate 25.4% 21% 28.3% 46.2% - 25.6% 23.3% 22.1%
Net sales 1 1,74,078 1,80,642 1,95,322 2,47,099 2,74,900 2,82,998 2,98,938 3,15,448
EBITDA 1 11,118 11,522 11,980 12,083 12,351 13,053 14,230 14,894
EBIT 1 7,935 8,414 8,536 9,417 9,200 9,661 10,314 10,980
Net income 1 5,365 6,668 5,164 3,434 5,957 6,465 7,481 7,784
Net Debt 1 28,589 25,169 23,108 24,422 23,787 20,292 15,945 11,413
Reference price 2 229.63 331.34 299.45 276.14 275.23 275.12 275.12 275.12
Nbr of stocks (in thousands) 3,31,428 3,05,739 2,92,620 2,78,153 2,67,126 2,63,661 - -
Announcement Date 03/02/22 03/02/23 02/02/24 30/01/25 05/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.34x0.33x7.11x2.26% 7.25TCr
18.64x0.75x11.89x2.81% 28TCr
13.19x0.47x9.13x2.24% 6.94TCr
22.42x0.21x12.6x1.97% 2.38TCr
19.4x0.09x9.13x-.--% 1.84TCr
45.97x0.16x10.53x-.--% 781.26Cr
160.02x0.76x26.02x-.--% 428.61Cr
14.53x0.84x5x-.--% 133Cr
-283.52x0.32x16.34x-.--% 106.51Cr
47.33x2.65x14x0.59% 28Cr
Average 6.93x 0.66x 12.17x 0.99% 4.83TCr
Weighted average by Cap. 18.01x 0.58x 10.80x 2.41%

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