Companies /Healthcare

Cigna Group (The)

NYSE: CI Healthcare Plans
$277.67
▼ $3.20 (−1.14%) today
Markets closed · 9:08pm ET

Q4 2025 Earnings

Reported Feb 5, 2026, 6:15am ET · SEC source
$8.08
Beat +2.50%
EPS · est. $7.88
$72.5B
Beat +4.91%
Revenue · est. $69.1B
−7.7%
Trailing market
CI vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+4%+8%Feb 5Feb 6report 6:15am ETearnings+0.3%+7.8%
0+4%+8%Feb 5Feb 6earnings+0.3%+7.8%
CI +7.8%S&P 500 +0.3%
0+4%+8%Feb 5Feb 6report 6:15am ETearnings+0.1%+7.8%
0+4%+8%Feb 5Feb 6earnings+0.1%+7.8%
CI +7.8%NASDAQ +0.1%
0+3%+6%Feb 4Feb 12report 6:15am ETearnings−0.7%+4.6%
0+3%+6%Feb 4Feb 12earnings−0.7%+4.6%
CI +4.6%S&P 500 −0.7%
0+4%+8%Feb 4Feb 12report 6:15am ETearnings−0.7%+4.6%
0+4%+8%Feb 4Feb 12earnings−0.7%+4.6%
CI +4.6%NASDAQ −0.7%
+4.72%
Day of report
+2.64%
Next session
+1.08%
One week
−7.76%
30 days

S&P 500 over the same 30 days: −0.06%.

Did CI Beat Earnings? Q4 2025 Results

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.

Key Takeaways
  • 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

Forward Guidance & Outlook

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

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$20.0B$40.0B$60.0B$65.5B$72.5BRevenue$1.3B$1.2BNet Income
$0$20.0B$40.0B$60.0BRevenueNet Income

CI Revenue by Segment

Evernorth Health Services$63.1B+17.0%
Pharmacy Benefit Services$36.3B+20.0%
Specialty and Care Services$26.7B+14.0%
Cigna Healthcare$11.2B−16.0%

Figures from SEC filings and company reports. Not investment advice.