Stock Analysis on Net

Cigna Group (NYSE:CI)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Cigna Group, long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 52.53 47.53 46.73 37.85 34.45
Net fixed asset turnover (including operating lease, right-of-use asset) 47.75 43.23 41.37 33.46 30.72
Total asset turnover 1.27 1.25 1.11 1.02 0.98
Equity turnover 4.20 4.00 3.66 3.16 3.36

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Cigna Group net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Cigna Group net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Cigna Group total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Cigna Group equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover

Cigna Group, net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Property and equipment 3,695 3,774 3,692 4,205 4,417
Long-term Activity Ratio
Net fixed asset turnover1 52.53 47.53 46.73 37.85 34.45
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 3.95 4.76 4.81 3.83 3.97
CVS Health Corp. 27.05 24.98 22.56 21.25 21.24
Danaher Corp. 5.25 7.96 7.77 6.83 7.78
Elevance Health Inc. 39.05 36.07 34.94 34.69 32.92
Humana Inc. 34.75 28.71 26.97 32.05 32.93
Intuitive Surgical Inc. 2.01 2.62 3.04 2.76 3.52
Medtronic PLC 5.61 5.85 5.77 5.99 6.54
UnitedHealth Group Inc. 32.10 31.81 31.81 29.64 27.60
Net Fixed Asset Turnover, Sector
Health Care Equipment & Services 21.77 21.45 20.55 19.40 19.35
Net Fixed Asset Turnover, Industry
Health Care 10.19 10.62 10.38 9.62 9.72

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).

1 2023 Calculation
Net fixed asset turnover = Revenues from external customers ÷ Property and equipment
= 194,099 ÷ 3,695 = 52.53

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Cigna Group net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Cigna Group, net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
 
Property and equipment 3,695 3,774 3,692 4,205 4,417
Operating lease ROU assets (included in Other assets) 370 375 478 552 536
Property and equipment (including operating lease, right-of-use asset) 4,065 4,149 4,170 4,757 4,953
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 47.75 43.23 41.37 33.46 30.72
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Abbott Laboratories 3.56 4.25 4.26 3.42 3.56
CVS Health Corp. 11.72 10.46 9.09 8.04 7.77
Danaher Corp. 4.26 6.35 6.10 5.30 5.84
Elevance Health Inc. 34.43 31.64 30.12 29.26 27.82
Humana Inc. 29.75 24.76 22.09 27.07 27.22
Intuitive Surgical Inc. 1.97 2.53 2.93 2.66 3.32
Medtronic PLC 4.72 5.06 4.84 5.02 6.54
UnitedHealth Group Inc. 22.48 21.54 21.54 19.55 18.97
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Health Care Equipment & Services 14.99 14.36 13.32 12.15 12.06
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care 8.32 8.55 8.22 7.54 7.63

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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues from external customers ÷ Property and equipment (including operating lease, right-of-use asset)
= 194,099 ÷ 4,065 = 47.75

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Cigna Group net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

Cigna Group, total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Total assets 152,761 143,932 154,889 155,451 155,774
Long-term Activity Ratio
Total asset turnover1 1.27 1.25 1.11 1.02 0.98
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.55 0.59 0.57 0.48 0.47
CVS Health Corp. 1.43 1.41 1.25 1.16 1.15
Danaher Corp. 0.28 0.37 0.35 0.29 0.29
Elevance Health Inc. 1.56 1.51 1.41 1.39 1.33
Humana Inc. 2.24 2.15 1.87 2.17 2.21
Intuitive Surgical Inc. 0.46 0.48 0.42 0.39 0.46
Medtronic PLC 0.34 0.35 0.32 0.32 0.34
UnitedHealth Group Inc. 1.34 1.31 1.34 1.30 1.38
Total Asset Turnover, Sector
Health Care Equipment & Services 1.18 1.15 1.07 1.01 1.01
Total Asset Turnover, Industry
Health Care 0.80 0.81 0.76 0.70 0.71

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).

1 2023 Calculation
Total asset turnover = Revenues from external customers ÷ Total assets
= 194,099 ÷ 152,761 = 1.27

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Cigna Group total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

Cigna Group, equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Shareholders’ equity 46,223 44,872 47,112 50,321 45,338
Long-term Activity Ratio
Equity turnover1 4.20 4.00 3.66 3.16 3.36
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.04 1.19 1.20 1.06 1.03
CVS Health Corp. 4.66 4.53 3.87 3.86 4.00
Danaher Corp. 0.45 0.63 0.65 0.56 0.59
Elevance Health Inc. 4.33 4.29 3.80 3.64 3.25
Humana Inc. 6.48 6.04 5.15 5.54 5.35
Intuitive Surgical Inc. 0.54 0.56 0.48 0.45 0.54
Medtronic PLC 0.61 0.60 0.59 0.57 0.61
UnitedHealth Group Inc. 4.14 4.14 3.98 3.90 4.17
Equity Turnover, Sector
Health Care Equipment & Services 3.06 2.99 2.76 2.66 2.73
Equity Turnover, Industry
Health Care 2.22 2.17 2.10 2.06 2.06

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).

1 2023 Calculation
Equity turnover = Revenues from external customers ÷ Shareholders’ equity
= 194,099 ÷ 46,223 = 4.20

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Cigna Group equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.