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The Cigna Group
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Latest analysis
Updated Nov 5, 2026
Cigna Q3 2026: Strong Execution Drives EPS Raise to $30.60; ACA Exit Creates $200M 2027 Headwind While Specialty Compounds at 15%
Cigna delivered Q3 2026 adjusted EPS of $7.98 on adjusted revenues of $73.8 billion, raising full-year 2026 adjusted EPS guidance to at least $30.60. The Cigna Healthcare medical care ratio held at 85%, with medical cost trend described as elevated but stable and consistent with pricing assumptions. The 2027 setup is shaped by three known headwinds — ACA exchange exit (approximately $200 million all-in impact), PBS rebate pool compression, and a lighter biosimilar launch calendar — offset by stop loss margin recovery, strong selling season retention in the high 90s, and at least 2 million new PBS customers, anchoring management's confidence in at least 10% adjusted EPS growth off a $30 run-rate.
Tone: cautiousRevenue
$274.9B
CI 10-K · FY 2025
Employees
67,700
Revenue growth YoY
+11%
Founded
1981
Profile
CI 10-K Item 1 · Feb 26, 2026The Cigna Group is a global health company operating through two principal segments: Evernorth Health Services, which provides pharmacy benefit management, specialty pharmacy, and care services; and Cigna Healthcare, which provides medical and coordinated health solutions to U.S. and international customers. Together, the segments serve more than 185 million customer relationships across more than 30 markets. The company completed the sale of its Medicare Advantage and related businesses to Health Care Service Corporation in March 2025.
Read filing description ↓ Collapse description ↑
The Cigna Group is a global health company committed to creating a better future for every individual and every community. Powered by our dedicated people and valued brands, we advance our mission to improve the health and vitality of those we serve by staying grounded in the needs of our customers and patients - delivering a personalized, transparent and affordable health care experience. We focus on leading the way to partner and innovate solutions for better health. At The Cigna Group our global workforce of approximately 67,700 colleagues strives to fulfill our mission to improve the health and vitality of more than 185 million customer relationships in more than 30 markets and jurisdictions. We have two segments: Evernorth Health Services and Cigna Healthcare. The Evernorth Health Services segment, through our Pharmacy Benefit Services and Specialty and Care Services operating segments, provides independent and coordinated health solutions and capabilities to enable the health care system to work better and help people live healthier lives. Cigna Healthcare, the health benefits segment of The Cigna Group, provides comprehensive medical and coordinated solutions to customers and clients served by our U.S. Healthcare and International Health operating segments. Together, Evernorth Health Services and Cigna Healthcare combine pharmacy and medical capabilities to create solutions that improve affordability, transparency and health outcomes. This combination helps us anticipate needs, accelerate innovation and deliver personalized experiences for customers and patients at scale.
Primary products
- Pharmacy Benefits
- Retail Pharmacy Network Administration
- Drug Formulary Management
- Home Delivery Pharmacy (Express Scripts Pharmacy)
- EnGuide Pharmacy
- Specialty Pharmacy (Accredo)
Business segments
End markets
Geographies
Named customers
Revenues from a single pharmacy benefit client were approximately 19% and 16% of total revenue from external customers for the years ended December 31, 2025 and 2024, respectively. These amounts were reported in the Evernorth Health Services segment.
Named competitors
“Our health advocacy capabilities, holistic approach to consumer engagement, breadth of product offerings, and clinical care and health management capabilities, along with an array of product funding solutions, are competitive advantages.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased $27.8 billion, or 11%, in 2025 versus 2024, driven primarily by growth in pharmacy revenues within Evernorth Health Services, partially offset by a decline in premiums following the sale of the Medicare Advantage business.
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