Cigna Group (NYSE:CI)

Total Assets

Total assets showed a slight decline from 155,451 million US dollars at the end of 2020 to 143,932 million in 2022, indicating a contraction over this period. This decline was followed by a recovery phase, with assets rising to 152,761 million in 2023 and further increasing to 155,881 million in 2024, surpassing the initial 2020 value. The trend suggests an initial reduction in asset base, possibly reflecting strategic divestments or market conditions, followed by a rebound and growth back to levels slightly above those at the start of the observed period.

Adjusted Total Assets

Adjusted total assets followed a pattern largely consistent with total assets, starting at 155,451 million US dollars in 2020 and decreasing to 143,932 million in 2022. The metric then increased to 151,706 million in 2023 and further to 154,988 million in 2024. The difference between total assets and adjusted total assets was minimal throughout the period, indicating limited adjustments. The overall trend reflects a similar contraction and subsequent recovery as observed in total assets, suggesting stability in asset quality or adjustments applied to the asset base over time.

Total liabilities

Total liabilities exhibited some fluctuations during the observed period. Initially, from 2020 to 2021, there was a slight increase from approximately 105.1 billion to 107.7 billion US dollars. However, in 2022, total liabilities decreased notably to about 98.9 billion US dollars. Following this dip, liabilities rose again in 2023 and 2024, reaching their highest point in 2024 at approximately 114.6 billion US dollars. This pattern suggests a period of liability reduction in 2022, followed by a recovery and growth trend through to 2024.

Adjusted total liabilities

Adjusted total liabilities mirrored the overall trend seen in total liabilities, with slight variations in absolute figures. Starting at roughly 96.1 billion US dollars in 2020, the adjusted figure increased to about 99.4 billion in 2021. A reduction occurred in 2022, bringing the adjusted liabilities down to approximately 91.2 billion US dollars. Subsequently, there was an increase in 2023 and 2024, with adjusted liabilities climbing to nearly 107.7 billion US dollars by the end of 2024. This reveals a consistent pattern of reduction followed by growth, similar to total liabilities but with consistently lower absolute values, reflecting adjustments made to the total liabilities.

Shareholders’ Equity

Over the five-year period, there is a clear downward trend in shareholders’ equity. Starting at 50,321 million US dollars at the end of 2020, it decreased steadily to 41,033 million US dollars by the end of 2024. The most notable decline occurred between 2023 and 2024, where the equity dropped by approximately 4,190 million US dollars, which could indicate increased liabilities, asset write-downs, or dividend payouts exceeding earnings.

Adjusted Total Equity

Adjusted total equity also exhibits a consistent decline from 59,325 million US dollars in 2020 to 47,325 million US dollars in 2024. The reduction is gradual but steady, reflecting a sustained decrease in the adjusted financial buffer available. The decline between 2023 and 2024 is again significant, mirroring the fall in shareholders’ equity. The difference between adjusted total equity and shareholders’ equity narrows slightly over the years, suggesting adjustments are becoming less distinct or that the firm’s risk profile and capital adjustments are converging.

Overall Insights

The financial data reveals a pattern of decreasing equity, which may imply ongoing challenges in maintaining capital levels or managing profitability effectively. The parallel decline in both shareholders’ equity and adjusted total equity suggests that the company might be facing external or operational factors negatively influencing its net worth. The consistent equity reduction may also impact the firm’s financial stability and its capacity to leverage growth opportunities or absorb financial shocks.

Total Reported Debt

The total reported debt showed slight fluctuations over the five-year period. It increased marginally from 32,919 million US dollars at the end of 2020 to a peak of 33,670 million in 2021. Subsequently, it declined to 31,093 million in 2022 and stabilized around 30,930 million in 2023 before rising again modestly to 31,972 million in 2024. Overall, the debt level demonstrated a relatively stable pattern with minor variations.

Shareholders’ Equity

Shareholders’ equity exhibited a downward trend across the examined timeframe. Beginning at 50,321 million US dollars in 2020, it decreased each year, reaching 47,112 million in 2021, then 44,872 million in 2022. Although there was a slight recovery to 46,223 million in 2023, the equity value declined sharply to 41,033 million in 2024. This indicates a decrease in the company’s net asset value over the period.

Total Reported Capital

Total reported capital decreased consistently, from 83,240 million US dollars at the end of 2020 to 73,005 million by 2024. The gradual reduction reflects the combined effect of declining shareholders’ equity and fluctuating debt levels, pointing to a contraction in overall capital employed.

Adjusted Total Debt

The adjusted total debt mirrored the trend of total reported debt with minor differences. It increased from 33,562 million US dollars in 2020 to 34,265 million in 2021, followed by a decrease to 31,553 million in 2022 and 31,375 million in 2023. The figure then rose again modestly to 31,972 million in 2024, indicating stable debt management when considering adjustments.

Adjusted Total Equity

Adjusted total equity displayed a declining trend similar to shareholders’ equity but with higher initial and intermediate values, starting at 59,325 million US dollars in 2020 and decreasing yearly to 47,325 million in 2024. This steady reduction suggests a diminishing adjusted net worth, which may impact financial stability.

Adjusted Total Capital

The adjusted total capital decreased over the period under review, moving from 92,887 million US dollars in 2020 down to 79,297 million in 2024. The decline was consistent year-over-year, reflecting the combined trends in adjusted equity and adjusted debt, indicating an overall reduction in capital resources after adjustments.

The analysis of the financial data reveals a downward trend in both shareholders’ net income and adjusted net income over the five-year period from 2020 to 2024.

Shareholders’ Net Income

Shareholders’ net income started at 8458 million USD in 2020, followed by a significant decline to 5365 million USD in 2021. A moderate recovery occurred in 2022, with the net income increasing to 6668 million USD. However, this was followed by another decline in the next two years, falling to 5164 million USD in 2023 and further down to 3434 million USD in 2024. The overall trend indicates a significant reduction in profitability from the initial value in 2020 to the value recorded in 2024.

Adjusted Net Income

Adjusted net income shows a similar pattern to shareholders’ net income. Beginning at 8167 million USD in 2020, it decreased consistently each year except for a less steep decline between 2023 and 2024. By 2021, it had dropped to 5144 million USD, then decreased further to 5751 million USD in 2022. The downward trend accelerated in 2023 to 3507 million USD and marginally decreased to 3206 million USD in 2024. This consistent decline suggests challenges in underlying business performance when adjustments are considered.

In summary, both key profitability measures demonstrate a clear downward trajectory throughout the period analyzed, with notable declines in net income figures, indicating potential operational or market pressures impacting the financial performance. The data suggests a need for closer examination of causal factors behind these declines and strategic measures to stabilize and improve profitability moving forward.