Stock Analysis on Net

Cigna Group (NYSE:CI)

$22.49

This company has been moved to the archive! The financial data has not been updated since February 27, 2025.

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Cigna Group, debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions


The financial trends demonstrate notable fluctuations in total debt, shareholders’ equity, and debt to equity ratio over the examined periods. Total debt exhibited a gradual increase from 2005 through 2013, rising from US$1,438 million to approximately US$5,247 million. Subsequently, a significant surge occurred in 2018, where total debt reached US$42,478 million, peaking sharply before declining progressively to US$31,972 million by 2024.

Shareholders’ equity experienced initial volatility, decreasing from US$5,360 million in 2005 to US$3,592 million in 2008, followed by consistent growth, reaching US$13,711 million in 2017. A marked escalation took place in 2018 and 2019, with equity increasing to over US$45,000 million, peaking at US$50,321 million in 2020. Afterward, it showed a declining trend, dropping to roughly US$41,033 million by 2024.

The debt to equity ratio mirrored these shifts. Starting at a moderate level of 0.27 in 2005, it increased during the 2008 period to 0.67, indicating a higher reliance on debt financing relative to equity. The ratio subsequently decreased, reaching a low of 0.37 in 2016, signifying a more conservative capital structure. However, a pronounced rise occurred in 2018, with the ratio exceeding 1.0 (1.04), suggesting a period of elevated leverage. Following this peak, the ratio decreased but remained relatively high, fluctuating between 0.65 and 0.78 through 2024.

These patterns suggest that the company underwent phases of significant capital restructuring, with increased leverage around 2018 correlating with sharp increases in both total debt and equity. The elevated debt to equity ratio during these years indicates a strategic shift toward greater debt utilization, which moderated in subsequent years but retained a higher leverage level compared to the earlier periods.

Total Debt
Steady rise from 2005 to 2013; dramatic spike in 2018; gradual reduction from 2019 onward.
Shareholders’ Equity
Decline until 2008; consistent growth through 2017; substantial increase in 2018 and 2019; decline post-2020.
Debt to Equity Ratio
Moderate increase up to 2008; decrease to 2016; sharp peak in 2018 indicating high leverage; stabilization at elevated levels afterward.

Comparison to Competitors

Cigna Group, debt to equity, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Health Care Equipment & Services)

Cigna Group, debt to equity, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Health Care)