Enterprise Value (EV)
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Current Enterprise Value (EV)
Cigna Group, current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Other noncontrolling interests (per books) | |
| Total equity | |
| Add: Short-term debt (per books) | |
| Add: Long-term debt (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Cigna Group, EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Cigna Group Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity (Market Value)
- The common equity market value showed a decline from 73,655 million US dollars in 2020 to 72,032 million US dollars in 2021. Following this, there was a significant increase reaching 87,529 million in 2022 and further rising to 98,272 million in 2023. However, in 2024, the common equity market value decreased again to 82,903 million. This indicates overall volatility with a notable peak in 2023 followed by a decline in 2024.
- Total Equity
- Total equity closely followed the trend of common equity, starting at 73,662 million in 2020 and marginally decreasing to 72,050 million in 2021. It then increased substantially to 87,542 million in 2022 and further to 98,293 million in 2023, before declining to 83,113 million in 2024. This parallel movement suggests consistency between market value of common equity and total equity, with similar growth and contraction phases.
- Total Equity and Debt
- The total equity and debt metric demonstrated a steady upward trajectory from 106,581 million in 2020 to 105,720 million in 2021, then rising noticeably to 118,635 million in 2022 and climbing further to 129,223 million in 2023. However, in 2024, it decreased to 115,085 million. This pattern reflects a growth in overall capital structure primarily through increases in equity and/or debt until 2023, followed by a reduction in 2024.
- Enterprise Value (EV)
- Enterprise value exhibited an increasing trend from 95,068 million in 2020 to 99,719 million in 2021, then climbing to 111,806 million in 2022 and further to 120,476 million in 2023. Similarly to other metrics, EV then fell to 106,870 million in 2024. This movement suggests growing market valuation and investor perception of the company's value until 2023, with a retracement occurring in the most recent year.
- General Observations
- Across all presented financial indicators, the pattern reveals consistent growth from 2021 through 2023 followed by declines in 2024. This could reflect a market or operational environment resulting in a peak valuation period ending in 2023, with subsequent moderation or correction in 2024. The close correlation among common equity, total equity, and enterprise value points to synchronized valuation and capital structuring dynamics during this timeframe. The drop in the last year suggests the need for further examination of underlying factors causing the decline.