CI
Cigna Corporation (CI)
Last Price$311.50.9%
Market Cap$87.2B
DCF value
$1,567.7
Undervalued (DCF value)
403.3%
Discount Rate
5.6%
Long-Term Growth Rate
3.0%
Stock quality
6/10
Good

CI DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Dec'19 ActualDec'20 ActualDec'21 ActualDec'22 ActualDec'23 ActualDec'24 EstimateDec'25 EstimateDec'26 EstimateDec'27 EstimateDec'28 EstimateDec'29 EstimateDec'30 EstimateDec'31 EstimateDec'32 EstimateDec'33 EstimateDec'34 Terminal
% growth
153,743.0
216.5%
160,550.0
4.4%
174,267.0
8.5%
180,031.0
3.3%
195,187.0
8.4%
243,355.0
24.7%
251,711.1
3.4%
264,662.1
5.1%
280,237.1
5.9%
300,624.3
7.3%
320,352.8
6.6%
339,093.4
5.8%
356,514.3
5.1%
372,290.1
4.4%
386,111.3
3.7%
397,694.7
3.0%
8,077.0
(62.8%)
8,153.0
5.4%
7,941.0
4.8%
8,450.0
5.3%
8,536.0
4.4%
12,260.5
5.0%
12,681.5
5.0%
13,334.0
5.0%
14,118.7
5.0%
15,145.8
5.0%
16,139.7
5.0%
17,083.9
5.0%
17,961.6
5.0%
18,756.4
5.0%
19,452.7
5.0%
20,036.3
5.0%
NOPAT
% effective tax rate
6,294.4
4.1%
6,368.3
4.0%
6,338.8
3.6%
6,824.8
3.8%
8,317.7
4.3%
11,946.9
4.9%
12,357.2
4.9%
12,993.0
4.9%
13,757.6
4.9%
14,758.4
4.9%
15,727.0
4.9%
16,647.0
4.9%
17,502.2
4.9%
18,276.7
4.9%
18,955.2
4.9%
19,523.9
4.9%
% of revenue
3,651.0
2.4%
2,802.0
1.7%
2,923.0
1.7%
2,925.0
1.6%
3,035.0
1.6%
3,939.9
1.6%
4,075.2
1.6%
4,284.8
1.6%
4,537.0
1.6%
4,867.1
1.6%
5,186.5
1.6%
5,489.9
1.6%
5,771.9
1.6%
6,027.3
1.6%
6,251.1
1.6%
6,438.6
1.6%
% of revenue
(1,050.0)
(0.7%)
(1,094.0)
(0.7%)
(1,154.0)
(0.7%)
(1,295.0)
(0.7%)
(1,573.0)
(0.8%)
(1,774.4)
(0.7%)
(1,835.3)
(0.7%)
(1,929.8)
(0.7%)
(2,043.3)
(0.7%)
(2,192.0)
(0.7%)
(2,335.8)
(0.7%)
(2,472.5)
(0.7%)
(2,599.5)
(0.7%)
(2,714.5)
(0.7%)
(2,815.3)
(0.7%)
(2,899.7)
(0.7%)
643.0
0.4%
3,598.0
2.2%
(872.0)
(0.5%)
620.0
0.3%
3,488.0
1.8%
1,323.0
0.5%
1,368.5
0.5%
1,438.9
0.5%
1,523.6
0.5%
1,634.4
0.5%
1,741.7
0.5%
1,843.5
0.5%
1,938.3
0.5%
2,024.0
0.5%
2,099.2
0.5%
2,162.1
0.5%
Free Cash Flow to Firm (FCFF)
% of revenue
(71,993.5)
(46.8%)
12,111.4
7.5%
7,563.6
4.3%
9,899.3
5.5%
13,267.7
6.8%
15,435.5
6.3%
15,965.5
6.3%
16,786.9
6.3%
17,774.8
6.3%
19,067.9
6.3%
20,319.3
6.3%
21,507.9
6.3%
22,612.9
6.3%
23,613.5
6.3%
24,490.2
6.3%
25,224.9
6.3%
% of FCFF used in calculation
100.0%
83.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
Discount factor
0.97
0.92
0.87
0.83
0.78
0.74
0.70
0.66
0.63
Discounted FCFF (DFCFF)
12,895.4
15,462.4
15,499.4
15,740.5
15,879.2
15,911.9
15,837.5
15,656.5
15,372.0

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CI DCF Value

DCF Value Calculation

as of Mar 03, 2025
Sum of DFCFF
% share of EV
138.3B
30.0%
Terminal Value (TV)
513.9B
Discounted TV
% share of EV
322.6B
70.0%
Total Debt
30.9B
Shares outstanding
279.9M
FX rate
1.0
1,567.7
403.3% undervalued

Equity Value Bridge

CI DCF Financials

Revenue
$195.2B -> $386.1B 7.1% CAGR
Operating Income
$8,536.0M -> $19.5B 8.6% CAGR
FCFF
$13.3B -> $24.5B 6.3% CAGR

CI DCF sensitivity

DCF value
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
5.0%
$1,614.0
$1,614.0
$1,614.0
$1,614.0
$1,614.0
5.5%
$1,577.0
$1,577.0
$1,577.0
$1,577.0
$1,577.0
5.6%
$1,568.0
$1,568.0
$1,568.0
$1,568.0
$1,568.0
6.5%
$1,507.0
$1,507.0
$1,507.0
$1,507.0
$1,507.0
7.0%
$1,401.0
$1,474.0
$1,474.0
$1,474.0
$1,474.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
5.0%
418.0%
418.0%
418.0%
418.0%
418.0%
5.5%
406.0%
406.0%
406.0%
406.0%
406.0%
5.6%
403.0%
403.0%
403.0%
403.0%
403.0%
6.5%
384.0%
384.0%
384.0%
384.0%
384.0%
7.0%
350.0%
373.0%
373.0%
373.0%
373.0%

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FAQ

What is Cigna Corporation DCF (discounted cash flow) valuation?

As of Mar 03, 2025, Cigna Corporation's Discounted Cash Flow (DCF) valuation estimates its share price at $1,567.7. This suggests it may be undervalued by 403.3% compared to its current price of around $311.5, using a WACC of 5.6% and growth rates of 3.0%.

What is Cigna Corporation WACC?

As of Mar 03, 2025, Cigna Corporation's Weighted Average Cost of Capital (WACC) is approximately 5.6%.

What is Cigna Corporation Enterprise Value?

As of Mar 03, 2025, Cigna Corporation's Enterprise Value (EV) is approximately $460.8B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.