Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-22.
Cigna's consensus tape pairs steady mid-single-digit revenue growth with normalized EPS that reaccelerates from under 2% in 2026 to low-double-digit gains through 2029 — a margin- and capital-return-driven earnings story. The beat record is consistent: revenue has topped consensus for eight straight quarters and normalized EPS in every quarter but a −15% Q4 2024 miss. Yet forward estimates have barely moved in six months, and the street sits bullish with no sell ratings and a $341 mean target. The main fault line is GAAP net income, where analysts disagree sharply while clustering tightly on adjusted EPS.
Forward estimates
Currency: USD · Scale: money in millions, absolute · YoY uses the prior fiscal year from the feed; analyst count and range use the first displayed period.
| Metric | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | YoY | Analysts | Low / high |
|---|---|---|---|---|---|---|---|---|
| Revenue | $269.86bn | $284.46bn | $296.83bn | $313.11bn | $322.06bn | — | 11 | $253.30bn / $277.15bn |
| EBITDA | $12.89bn | $13.34bn | $14.48bn | $15.21bn | $15.35bn | — | 14 | $11.33bn / $14.83bn |
| EPS (normalized) | $29.65 | $30.41 | $33.48 | $37.01 | $41.92 | — | 24 | $29.60 / $29.78 |
Beat / miss record
Current sequences by metric: Revenue: 8 consecutive beats; EPS (normalized): 5 consecutive beats.
Currency: USD · Scale: money in millions, absolute · Consensus is captured before each actual first became effective.
| Quarter | Metric | Consensus | Actual | Surprise | Outcome |
|---|---|---|---|---|---|
| Q1 FY2026 | Revenue | $66.20bn | $68.49bn | +3.5% | Beat |
| Q1 FY2026 | EPS (normalized) | $7.61 | $7.79 | +2.4% | Beat |
| Q4 FY2025 | Revenue | $69.08bn | $72.47bn | +4.9% | Beat |
| Q4 FY2025 | EPS (normalized) | $7.88 | $8.08 | +2.5% | Beat |
| Q3 FY2025 | Revenue | $66.74bn | $69.75bn | +4.5% | Beat |
| Q3 FY2025 | EPS (normalized) | $7.64 | $7.83 | +2.5% | Beat |
| Q2 FY2025 | Revenue | $62.51bn | $67.18bn | +7.5% | Beat |
| Q2 FY2025 | EPS (normalized) | $7.15 | $7.20 | +0.6% | Beat |
| Q1 FY2025 | Revenue | $60.53bn | $65.50bn | +8.2% | Beat |
| Q1 FY2025 | EPS (normalized) | $6.35 | $6.74 | +6.2% | Beat |
| Q4 FY2024 | Revenue | $63.18bn | $65.68bn | +4.0% | Beat |
| Q4 FY2024 | EPS (normalized) | $7.82 | $6.64 | -15.1% | Miss |
| Q3 FY2024 | Revenue | $59.59bn | $63.70bn | +6.9% | Beat |
| Q3 FY2024 | EPS (normalized) | $7.25 | $7.51 | +3.5% | Beat |
| Q2 FY2024 | Revenue | $58.32bn | $60.47bn | +3.7% | Beat |
| Q2 FY2024 | EPS (normalized) | $6.42 | $6.72 | +4.7% | Beat |
Forward estimates barely moved in six months — no line shifted more than ~1.3%
The largest six-month revision is FY2028 revenue, up about 1.3%; FY2027 revenue is down about 1%, and normalized EPS for both years is essentially flat. Consensus has not chased the recent beats into higher out-year numbers.
Currency: USD · Scale: money in millions, absolute · Point-in-time consensus; Δ90d is Now versus 90d.
| Metric | FY | 180d | 90d | 30d | Now | Δ90d |
|---|---|---|---|---|---|---|
| Revenue | FY2027 | $299.78bn | $297.38bn | $297.07bn | $296.83bn | -0.2% |
| Revenue | FY2028 | $309.01bn | $312.95bn | $312.31bn | $313.11bn | +0.1% |
| EPS (normalized) | FY2027 | $33.51 | $33.42 | $33.45 | $33.48 | +0.2% |
| EPS (normalized) | FY2028 | $37.00 | $37.14 | $36.89 | $37.01 | -0.4% |
Analysts split widely on GAAP net income even as normalized EPS stays tightly clustered
GAAP net income estimates diverge sharply — FY2027 spans roughly $6.5–10.3bn (13 analysts) and FY2028 $5.7–9.8bn (9) — reflecting uncertainty over below-the-line charges. EBITDA disagreement is also material in FY2028. Normalized EPS, by contrast, is tightly clustered.
Currency: USD · Scale: money in millions, absolute · Spread/mean is absolute high-low divided by absolute mean.
| Metric | Period | Mean | Low–high | Spread/mean | Analysts |
|---|---|---|---|---|---|
| Net income (GAAP) | FY2027E | $7.70bn | $6.46bn–$10.35bn | 50.5% | 13 |
| Net income (GAAP) | FY2028E | $7.82bn | $5.66bn–$9.82bn | 53.2% | 9 |
| EBITDA | FY2028E | $15.21bn | $12.88bn–$18.51bn | 37.0% | 11 |
Street snapshot
Currency: USD · Scale: money in millions, absolute · Analyst counts shown explicitly.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 15, Outperform 5, Hold 4, Underperform 0, Sell 0 | 24 |
| Consensus score | 1.54 | 24 |
| Target price | mean $340.9; median $340.0; high $400.0; low $290.0 | 24 |
FY2029 rests on a handful of analysts
FY2029 consensus is built on very thin coverage — 2 analysts for revenue, EBITDA and GAAP net income, 4 for normalized EPS and 3 for GAAP EPS. The +13% FY2029 EPS growth and outer-year levels should be read as directional, not firm consensus.