The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for The Cigna Group's Beneish M-Score or its related term are showing as below:
MEX:CI'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.17 Med: -2.44 Max: 8.1
Current: -2.58
During the past 13 years, the highest Beneish M-Score of The Cigna Group was 8.10. The lowest was -4.17. And the median was -2.44.
The Cigna Group Beneish M-Score Related Terms
The Cigna Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for The Cigna Group's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:CI vs ELV, HUM, CVS: Beneish M-Score Comparison
For the Healthcare Plans subindustry, The Cigna Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
The Cigna Group Beneish M-Score vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, The Cigna Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where The Cigna Group's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of The Cigna Group for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.8694
+
0.528 * 1.1231
+
0.404 * 1.0125
+
0.892 * 1.0012
+
0.115 * 0.3392
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8463
+
4.679 * -0.023743
-
0.327 * 0.9803
=
-2.68
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(12854.951 / (12854.951 + 75306.634))
/
(50348.791 / (50348.791 + 66793.121))
=
0.145811
/
0.42981
=
0.3392
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(115158.42 - 22479.425
-
158300.638)
/
2763799.8
=
-0.023743
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
The Cigna Group has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
The Cigna Group (MEX:CI) has a Beneish M-Score of -2.58 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Cigna Group and its competitors. According to the industry distribution chart, The Cigna Group ranks #9 out of 18 companies in the Healthcare Plans industry, placing it in the top 50%.
Is The Cigna Group's Beneish M-Score too high?
The Cigna Group's current Beneish M-Score is -2.58. Based on the distribution chart, The Cigna Group ranks #9 out of 18 companies in the Healthcare Plans industry, which is above the industry midpoint. Overall, The Cigna Group has a GF Score™ of 70/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Cigna Group's Beneish M-Score compare to ELV and HUM?
According to the Healthcare Plans industry distribution chart, The Cigna Group ranks #9 out of 18 companies for Beneish M-Score. This puts The Cigna Group in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Healthcare Plans company?
A good Beneish M-Score depends on the Healthcare Plans industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on The Cigna Group and its competitors. The Cigna Group's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Cigna Group stock overvalued right now?
Based on GuruFocus' analysis, The Cigna Group (MEX:CI) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN7,459.30, compared to a current price of MXN4,974.06 — trading 33.3% below its estimated fair value. The current Beneish M-Score is -2.58. The Cigna Group's overall GF Score™ is 70/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For The Cigna Group (MEX:CI), the current Beneish M-Score is -2.58 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is The Cigna Group (MEX:CI) Overvalued in 2026?
Based on GuruFocus' analysis, The Cigna Group stock appears to be undervalued.
The current stock price of MXN4,974.06 is trading 33.3% below its estimated GF Value™ of MXN7,459.30.
GuruFocus considers The Cigna Group to be Significantly Undervalued.
Key valuation signals for MEX:CI:
Beneish M-Score: -2.58
GF Value™: MXN7,459.30 vs. price of MXN4,974.06 (33.3% below fair value)
No single metric tells the full story. See the MEX:CI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM and specialty pharmacy services, which were greatly expanded by its 2018 merger with Express Scripts, are mostly sold to health insurance plans and employers. Its largest PBM contract is with the Department of Defense, and it recently won a multiyear deal with top-tier insurer Centene. In health insurance and other benefits, Cigna primarily serves employers through self-funding arrangements, and the company operates mostly in the US with 16 million US and 2 million international medical members covered as of December 2025.
70GF Score
Get the complete analysis for MEX:CI
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:CI has been successfully added to your 
