Cigna (CI) Q4 2025 Earnings
How Did CI Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −0.06%.
Did CI Beat Earnings? Q4 2025 Results
Yes. Cigna reported Q4 2025 earnings of $8.08 a share on Feb 5, 2026, beating the $7.88 consensus estimate by 2.5%. Revenue was $72.5B against a $69.1B estimate.
The Cigna Group delivered a strong finish to fiscal 2025, posting fourth-quarter adjusted earnings of $8.08 per share against a Wall Street consensus of $7.65, a beat of 5.65%, while revenue of $72.47 billion topped estimates by 9.17% and grew 10.6% year over year. The primary engine behind those results was Evernorth Health Services, whose specialty pharmacy business drove Q4 adjusted revenues 17% higher and powered the segment's full-year top-line growth of 16%, more than offsetting a 16% revenue decline in Cigna Healthcare tied to the March 2025 divestiture of its Medicare businesses to HCSC. Operational discipline was equally visible in the SG&A expense ratio, which tightened to 5.0% from 5.9% a year earlier. Looking ahead, management guided 2026 adjusted revenues to approximately $280.00 billion and adjusted earnings of at least $30.25 per share, signaling continued confidence even as broader industry peers navigate elevated medical cost pressures; the board also lifted its quarterly dividend to $1.56 per share, reinforcing Cigna's commitment to returning capital to shareholders.
- Strong specialty pharmacy growth within Evernorth Health Services
- Growth of existing client relationships and new business in Pharmacy Benefit Services
- Increased adoption of biosimilars in Specialty and Care Services
- Higher contributions from stop loss products in Cigna Healthcare Q4
- Premium rate increases to cover expected increases in medical costs
- SG&A expense ratio improvement from business mix shift
- Onboarding of a new government contract driving 18% growth in behavioral care customers
“In 2025, we expanded access and support, lowered costs, and improved transparency for our customers and patients.”
Cigna CEO, on the earnings call
What Was Cigna's Outlook in Q4 2025?
For full year 2026, The Cigna Group projects adjusted revenues of approximately $280.0 billion, adjusted income from operations of at least $7.950 billion (at least $30.25 per share), adjusted SG&A expense ratio of approximately 5.0%, adjusted effective tax rate of approximately 19.0%, cash flow from operations of approximately $9.0 billion, and capital expenditures of approximately $1.3 billion. Evernorth adjusted income from operations pre-tax is projected at least $6.9 billion, and Cigna Healthcare at least $4.5 billion with a medical care ratio of 83.7% to 84.7%. Total medical customers are expected at approximately 18.1 million. Weighted average shares outstanding projected at 261 to 265 million.
CI YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $72.5B | $65.5B | +10.6% |
| Net Income | $1.2B | $1.3B | −6.7% |
CI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.