Stock Analysis on Net
Stock Analysis on Net

Cigna Group (NYSE:CI)

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

Common-Size Balance Sheet: Assets

Cigna Group, common-size consolidated balance sheet: assets

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 4.84 5.12 4.12 3.28 6.55
Investments 0.43 0.61 0.63 0.59 0.86
Noninsurance customer receivables 7.62 5.27 4.79 4.05 3.56
Pharmaceutical manufacturers receivable 7.00 5.35 4.94 3.53 3.01
Insurance customer receivables 2.05 1.54 2.06 1.89 1.15
Other receivables 0.10 0.18 0.17 0.29 0.12
Less: Accounts receivable, net classified as Assets of businesses held for sale -1.24 -0.73 0.00 -0.03 0.00
Accounts receivable, net 15.54% 11.60% 11.96% 9.73% 7.84%
Inventories 4.29 3.70 3.32 2.40 2.04
Other current assets 1.75 1.42 0.90 0.83 0.60
Assets of businesses held for sale 4.49 2.01 0.00 6.49 0.00
Current assets 31.35% 24.45% 20.93% 23.33% 17.88%
Long-term investments 9.70 11.77 11.32 11.90 14.96
Reinsurance recoverables 2.81 3.17 3.30 3.21 3.35
Property and equipment 2.34 2.42 2.62 2.38 2.71
Goodwill 28.46 28.97 31.83 29.58 28.72
Other intangible assets 18.87 20.20 22.57 22.02 22.63
Other assets 1.79 2.24 2.38 2.20 3.91
Separate account assets 4.67 4.86 5.06 5.38 5.84
Assets of businesses held for sale, non-current 0.00 1.91 0.00 0.00 0.00
Non-current assets 68.65% 75.55% 79.07% 76.67% 82.12%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

A significant shift in the asset composition is observed between 2020 and 2024, characterized by a substantial increase in the proportion of current assets relative to non-current assets. Current assets grew from 17.88% of total assets in 2020 to 31.35% by 2024, while non-current assets declined from 82.12% to 68.65% over the same period. This transition indicates a strategic or operational shift toward a more liquid asset structure.

Working Capital and Receivables
The growth in current assets is primarily driven by a sharp increase in accounts receivable, which nearly doubled from 7.84% in 2020 to 15.54% in 2024. This trend is underpinned by significant expansions in noninsurance customer receivables, rising from 3.56% to 7.62%, and pharmaceutical manufacturers receivables, which increased from 3.01% to 7.00%. Additionally, inventories have seen a steady upward trajectory, increasing from 2.04% to 4.29% of total assets.
Long-Term Investment Strategy
There is a clear downward trend in the weighting of long-term investments, which decreased from 14.96% in 2020 to 9.70% in 2024. This reduction suggests a reallocation of capital away from long-term securities and toward current operational assets or the funding of other activities.
Intangible Assets and Goodwill
Intangible assets represent a substantial portion of the balance sheet, though their composition varies. Goodwill has remained relatively stable, fluctuating between 28.46% and 31.83%. Conversely, other intangible assets have experienced a consistent decline, falling from 22.63% in 2020 to 18.87% in 2024, likely reflecting the effects of systematic amortization.
Liquidity and Special Items
Cash and cash equivalents have fluctuated, starting at 6.55% in 2020, dipping to a low of 3.28% in 2021, and settling at 4.84% by 2024. Assets held for sale have appeared intermittently, notably reaching 4.49% of total assets by the end of 2024, indicating active portfolio management or divestiture activities.
Other Asset Trends
Reinsurance recoverables and separate account assets have both exhibited gradual declines. Reinsurance recoverables moved from 3.35% to 2.81%, while separate account assets decreased from 5.84% to 4.67%, contributing to the overall reduction in the weight of non-current assets.

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