Stock Analysis on Net

Cigna Group (NYSE:CI)

Common-Size Income Statement

Cigna Group, common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Pharmacy revenues 70.71 71.68 70.37 67.71 67.75
Premiums 22.79 22.25 23.85 26.78 26.10
Fees and other revenues 6.50 6.07 5.77 5.50 6.15
Revenues from external customers 100.00% 100.00% 100.00% 100.00% 100.00%
Pharmacy and other service costs -68.93 -69.60 -68.14 -65.02 -64.18
Medical costs and other benefit expenses -18.70 -17.96 -19.45 -20.55 -20.25
Gross profit 12.37% 12.44% 12.41% 14.43% 15.57%
Net investment income 0.60 0.64 0.90 0.78 0.91
Selling, general and administrative expenses -7.64 -7.35 -7.55 -8.84 -9.23
Amortization of acquired intangible assets -0.94 -1.05 -1.16 -1.25 -1.94
Income from operations 4.40% 4.69% 4.60% 5.12% 5.31%
Interest expense on long-term and short-term debt -0.72 -0.72 -0.75 -0.88 -1.05
Other -0.02 0.04 0.05 -0.02 -0.05
Interest expense and other -0.74% -0.68% -0.70% -0.90% -1.11%
Debt extinguishment costs 0.00 0.00 -0.08 -0.13 0.00
Gain (loss) on sale of businesses -0.77 0.93 0.00 2.64 0.00
Net realized investment gains (losses) -0.04 -0.28 0.11 0.09 0.12
Income before income taxes 2.84% 4.66% 3.93% 6.83% 4.32%
Income taxes -0.07 -0.90 -0.79 -1.49 -0.95
Net income 2.77% 3.76% 3.14% 5.33% 3.36%
Net income attributable to noncontrolling interests -0.11 -0.04 -0.03 -0.02 -0.01
Shareholders’ net income 2.66% 3.72% 3.11% 5.31% 3.35%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Income from operations The net result for the period of deducting operating expenses from operating revenues. Cigna Group income from operations as a percentage of revenues from external customers increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Cigna Group income before income taxes as a percentage of revenues from external customers increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Shareholders’ net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Cigna Group shareholders’ net income as a percentage of revenues from external customers increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.