The Cigna Group's management explains the business in its own materials. The slides below do the most of that work, pulled from the documents preserved in Sources. Each source link opens the complete presentation at that slide in a new tab.
The latest, fullest deck: two-platform structure, the earnings algorithm, FY2024 segment results and FY2025 guidance. · Open the full document →
p. 5 — The whole company in one chart: Evernorth Health Services (~60% of earnings) and Cigna Healthcare (~40%), the two platforms. · Open the full presentation →p. 6 — The track record management sells on — adjusted EPS from $7.87 (2014) to $27.33 (2024), a 13%+ ten-year CAGR. · Open the full presentation →p. 7 — Where growth is expected to come from: Specialty & Care 8–12%, Cigna Healthcare 7–10%, Pharmacy Benefits 2–4%. · Open the full presentation →p. 8 — Capital allocation: ~$60B of five-year cash flow split across reinvestment (~20–25%), dividend (~15%), and M&A/buyback/debt (~60–65%). · Open the full presentation →p. 9 — The financial algorithm: 6–9% income growth plus 4–5% from capital deployment equals a 10–14% long-term adjusted EPS target. · Open the full presentation →p. 11 — FY2024 consolidated results — where the money is made: Evernorth $7.0B vs Cigna Healthcare $4.2B pre-tax, on $247B adjusted revenue. · Open the full presentation →p. 13 — Inside Evernorth: Pharmacy Benefit Services ($112B revenue, thin margin) and Specialty & Care Services ($90B, higher margin) split out. · Open the full presentation →p. 15 — Inside Cigna Healthcare: 19.1M medical customers by type and the medical care ratio (83.2%) — the unit economics of a health plan. · Open the full presentation →p. 16 — The forward bar management is measured against: FY2025 guidance of ≥$252B revenue and ≥$29.50 adjusted EPS. · Open the full presentation →
Three slides later decks dropped: what each platform sells, how sub-businesses map to growth, and how the two sides reinforce each other. · Open the full document →
p. 6 — What each platform sells: Evernorth's pharmacy, specialty and care services; Cigna Healthcare's Commercial, Government, International lines. · Open the full presentation →p. 7 — The strategy in one frame: foundational (scaled) vs accelerated (high-growth) businesses, plus cross-enterprise leverage between them. · Open the full presentation →p. 8 — The flywheel: Evernorth already touches ~30% of Cigna Healthcare's cost of care, heading to ~50% and $10–20B of extra revenue. · Open the full presentation →
