Question 1

What is Cigna's P/FCF ratio?

Accepted Answer

Cigna (CI) P/FCF ratio is 10.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Cigna?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Cigna specifically, the relevant sector benchmark is the current sector median of 19.8×.

Question 5

Is Cigna's P/FCF ratio high or low?

Accepted Answer

Cigna's P/FCF ratio of 10.0× is below its own 5-year average of 11.5× and below the sector median of 19.8×. That places the current reading at the 39th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Cigna's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Cigna (CI) P/FCF ratio has ranged from a low of 3.0× in 2004 to a high of 125.1× in 2013. The 5-year average is 11.5× and the 5-year median is 10.3×.

Question 7

What was Cigna's P/FCF ratio in 2025?

Accepted Answer

Cigna (CI) P/FCF ratio at the end of 2025 was 8.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Cigna's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$73.20B	$8.39B	8.7×	+0.2×	Dec 31, 2025
2024	$76.71B	$8.96B	8.6×	-0.1×	Dec 31, 2024
2023	$88.21B	$10.24B	8.6×	-5.1×	Dec 31, 2023
2022	$101.20B	$7.36B	13.7×	+1.2×	Dec 31, 2022
2021	$75.70B	$6.04B	12.5×	+4.4×	Dec 31, 2021
2020	$75.18B	$9.26B	8.1×	-0.9×	Dec 31, 2020
2019	$75.75B	$8.44B	9.0×	-9.4×	Dec 31, 2019
2018	$59.45B	$3.24B	18.3×	+4.5×	Dec 31, 2018
2017	$50.08B	$3.62B	13.9×	+4.3×	Dec 31, 2017
2016	$34.07B	$3.56B	9.6×	-7.4×	Dec 31, 2016
2015	$37.47B	$2.21B	17.0×	-0.6×	Dec 31, 2015
2014	$26.79B	$1.52B	17.6×	-107.5×	Dec 31, 2014
2013	$24.03B	$192.00M	125.1×	+117.3×	Dec 31, 2013
2012	$15.20B	$1.94B	7.8×	-3.1×	Dec 31, 2012
2011	$11.67B	$1.07B	10.9×	+4.0×	Dec 31, 2011
2010	$9.92B	$1.44B	6.9×	-15.2×	Dec 31, 2010
2009	$9.67B	$438.00M	22.1×	+18.8×	Dec 31, 2009
2008	$4.60B	$1.40B	3.3×	-10.7×	Dec 31, 2008
2007	$15.09B	$1.08B	14.0×	-13.7×	Dec 31, 2007
2006	$14.00B	$506.00M	27.7×	+5.3×	Dec 31, 2006
2005	$13.82B	$619.00M	22.3×	+14.5×	Dec 31, 2005
2004	$10.89B	$1.40B	7.8×	+4.1×	Dec 31, 2004
2003	$8.01B	$2.20B	3.6×	-1.1×	Dec 31, 2003
2002	$5.75B	$1.21B	4.7×	-7.8×	Dec 31, 2002
2001	$13.67B	$1.09B	12.6×	—	Dec 31, 2001


AbbVie (ABBV)	18.5×
Align Technology (ALGN)	17.8×
McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Incyte (INCY)	12.9×
UnitedHealth Group (UNH)	12.5×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	10.7×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Elevance Health (ELV)	10.0×
Zimmer Biomet Holdings (ZBH)	9.6×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Centene (CNC)	2.5×

P/FCF Ratio for Cigna (CI)

P/FCF Ratio daily chart for Cigna (CI)

Historical P/FCF Ratio for Cigna (CI) from 2001 to 2025

About P/FCF Ratio at Cigna (CI)

Cigna P/FCF Ratio by Year

Cigna P/FCF Ratio 2025: 8.7×

Cigna P/FCF Ratio 2024: 8.6×

Cigna P/FCF Ratio 2023: 8.6×

Cigna P/FCF Ratio 2022: 13.7×

Cigna P/FCF Ratio 2021: 12.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Cigna (CI) Key Financials

P/FCF Ratio daily chart for Cigna (CI)

Historical P/FCF Ratio for Cigna (CI) from 2001 to 2025

About P/FCF Ratio at Cigna (CI)

Cigna P/FCF Ratio by Year

Cigna P/FCF Ratio 2025: 8.7×

Cigna P/FCF Ratio 2024: 8.6×

Cigna P/FCF Ratio 2023: 8.6×

Cigna P/FCF Ratio 2022: 13.7×

Cigna P/FCF Ratio 2021: 12.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Cigna's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Cigna?

+Is Cigna's P/FCF ratio high or low?

+What is Cigna's historical P/FCF ratio range?

+What was Cigna's P/FCF ratio in 2025?

+Why does Cigna's P/FCF ratio change over time?

Cigna (CI) Key Financials