Stock Analysis on Net

Cigna Group (NYSE:CI)

Analysis of Profitability Ratios 

Microsoft Excel

Profitability Ratios (Summary)

Cigna Group, profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Return on Sales
Gross profit margin 12.37% 12.44% 12.41% 14.43% 15.57%
Operating profit margin 4.40% 4.69% 4.60% 5.12% 5.31%
Net profit margin 2.66% 3.72% 3.11% 5.31% 3.35%
Return on Investment
Return on equity (ROE) 11.17% 14.86% 11.39% 16.81% 11.26%
Return on assets (ROA) 3.38% 4.63% 3.46% 5.44% 3.28%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Cigna Group gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Cigna Group operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Cigna Group net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Cigna Group ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
ROA A profitability ratio calculated as net income divided by total assets. Cigna Group ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Gross Profit Margin

Cigna Group, gross profit margin 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)
Gross profit 24,011 22,321 21,414 22,963 23,689
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Profitability Ratio
Gross profit margin1 12.37% 12.44% 12.41% 14.43% 15.57%
Benchmarks
Gross Profit Margin, Competitors2
Abbott Laboratories 50.28% 51.54% 52.21% 50.49% 52.46%
CVS Health Corp. 14.94% 16.62% 17.48% 18.01% 17.41%
Elevance Health Inc. 16.79% 16.79% 17.09% 19.71% 18.77%
Intuitive Surgical Inc. 66.39% 67.44% 69.32% 65.65% 69.45%
Medtronic PLC 65.67% 67.98% 65.19% 67.41% 70.04%
UnitedHealth Group Inc. 23.64% 24.09% 23.60% 25.62% 23.19%

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
Gross profit margin = 100 × Gross profit ÷ Revenues from external customers
= 100 × 24,011 ÷ 194,099 = 12.37%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Cigna Group gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Operating Profit Margin

Cigna Group, operating profit margin 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)
Income from operations 8,536 8,414 7,935 8,153 8,077
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Profitability Ratio
Operating profit margin1 4.40% 4.69% 4.60% 5.12% 5.31%
Benchmarks
Operating Profit Margin, Competitors2
Abbott Laboratories 16.15% 19.16% 19.56% 15.48% 14.21%
CVS Health Corp. 3.85% 2.41% 4.54% 5.19% 4.69%
Elevance Health Inc. 4.47% 4.94% 5.15% 4.97% 5.49%
Humana Inc. 3.81% 4.11% 3.80% 6.56% 4.96%
Intuitive Surgical Inc. 24.80% 25.35% 31.89% 24.09% 30.69%
Medtronic PLC 17.56% 18.15% 14.89% 16.57% 20.51%
UnitedHealth Group Inc. 8.80% 8.83% 8.40% 8.76% 8.19%
Operating Profit Margin, Sector
Health Care Equipment & Services 6.29% 6.23% 6.69% 7.04% 6.89%
Operating Profit Margin, Industry
Health Care 9.01% 13.52% 13.78% 10.30% 12.31%

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
Operating profit margin = 100 × Income from operations ÷ Revenues from external customers
= 100 × 8,536 ÷ 194,099 = 4.40%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Cigna Group operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Profit Margin

Cigna Group, net profit margin 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)
Shareholders’ net income 5,164 6,668 5,365 8,458 5,104
Revenues from external customers 194,099 179,361 172,529 159,157 152,176
Profitability Ratio
Net profit margin1 2.66% 3.72% 3.11% 5.31% 3.35%
Benchmarks
Net Profit Margin, Competitors2
Abbott Laboratories 14.27% 15.88% 16.42% 12.99% 11.56%
CVS Health Corp. 2.34% 1.29% 2.72% 2.68% 2.59%
Elevance Health Inc. 3.52% 3.87% 4.46% 3.78% 4.66%
Humana Inc. 2.36% 3.03% 3.54% 4.43% 4.20%
Intuitive Surgical Inc. 25.24% 21.25% 29.85% 24.33% 30.80%
Medtronic PLC 12.03% 15.90% 11.97% 16.56% 15.16%
UnitedHealth Group Inc. 6.09% 6.25% 6.06% 6.03% 5.76%
Net Profit Margin, Sector
Health Care Equipment & Services 4.37% 4.60% 4.96% 5.21% 4.85%
Net Profit Margin, Industry
Health Care 7.65% 10.55% 11.48% 7.64% 10.09%

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 profit margin = 100 × Shareholders’ net income ÷ Revenues from external customers
= 100 × 5,164 ÷ 194,099 = 2.66%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Cigna Group net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Return on Equity (ROE)

Cigna Group, ROE 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)
Shareholders’ net income 5,164 6,668 5,365 8,458 5,104
Shareholders’ equity 46,223 44,872 47,112 50,321 45,338
Profitability Ratio
ROE1 11.17% 14.86% 11.39% 16.81% 11.26%
Benchmarks
ROE, Competitors2
Abbott Laboratories 14.83% 18.90% 19.75% 13.71% 11.86%
CVS Health Corp. 10.91% 5.84% 10.54% 10.35% 10.39%
Elevance Health Inc. 15.23% 16.59% 16.93% 13.77% 15.15%
Humana Inc. 15.31% 18.33% 18.24% 24.53% 22.49%
Intuitive Surgical Inc. 13.51% 11.98% 14.32% 10.90% 16.69%
Medtronic PLC 7.30% 9.59% 7.01% 9.44% 9.25%
UnitedHealth Group Inc. 25.22% 25.87% 24.09% 23.52% 24.02%
ROE, Sector
Health Care Equipment & Services 15.02% 15.36% 15.06% 15.16% 14.26%
ROE, Industry
Health Care 17.03% 22.88% 24.08% 15.82% 20.90%

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
ROE = 100 × Shareholders’ net income ÷ Shareholders’ equity
= 100 × 5,164 ÷ 46,223 = 11.17%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Cigna Group ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Return on Assets (ROA)

Cigna Group, ROA 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)
Shareholders’ net income 5,164 6,668 5,365 8,458 5,104
Total assets 152,761 143,932 154,889 155,451 155,774
Profitability Ratio
ROA1 3.38% 4.63% 3.46% 5.44% 3.28%
Benchmarks
ROA, Competitors2
Abbott Laboratories 7.82% 9.31% 9.40% 6.20% 5.43%
CVS Health Corp. 3.34% 1.82% 3.39% 3.11% 2.98%
Elevance Health Inc. 5.50% 5.86% 6.26% 5.28% 6.21%
Humana Inc. 5.29% 6.52% 6.61% 9.63% 9.31%
Intuitive Surgical Inc. 11.64% 10.19% 12.58% 9.50% 14.17%
Medtronic PLC 4.13% 5.54% 3.87% 5.28% 5.16%
UnitedHealth Group Inc. 8.18% 8.19% 8.15% 7.81% 7.96%
ROA, Sector
Health Care Equipment & Services 5.50% 5.63% 5.63% 5.61% 5.18%
ROA, Industry
Health Care 6.08% 8.60% 8.69% 5.36% 7.15%

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
ROA = 100 × Shareholders’ net income ÷ Total assets
= 100 × 5,164 ÷ 152,761 = 3.38%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Cigna Group ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.