Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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Current Valuation Ratios
Cigna Group, current price multiples
| Cigna Group | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | Health Care Equipment & Services | Health Care | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||
| Current share price (P) | ||||||||||||
| No. shares of common stock outstanding | ||||||||||||
| Growth rate (g) | ||||||||||||
| Earnings per share (EPS) | ||||||||||||
| Next year expected EPS | ||||||||||||
| Operating profit per share | ||||||||||||
| Sales per share | ||||||||||||
| Book value per share (BVPS) | ||||||||||||
| Valuation Ratios (Price Multiples) | ||||||||||||
| Price to earnings (P/E) | ||||||||||||
| Price to next year expected earnings | ||||||||||||
| Price-earnings-growth (PEG) | ||||||||||||
| Price to operating profit (P/OP) | ||||||||||||
| Price to sales (P/S) | ||||||||||||
| Price to book value (P/BV) | ||||||||||||
Based on: 10-K (reporting date: 2024-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Cigna Group, historical price multiples
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
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).
- Price to Earnings (P/E) Ratio
- The price to earnings ratio demonstrates an overall increasing trend from 8.71 in 2020 to 24.14 in 2024. Notably, the ratio increased significantly between 2022 and 2023, rising from 13.13 to 19.03, and continued to grow to 24.14 the following year. This indicates a rising market valuation relative to earnings over the period, suggesting heightened investor confidence or expectations of future earnings growth.
- Price to Operating Profit (P/OP) Ratio
- The price to operating profit ratio showed relative stability from 2020 through 2021, staying near 9.0. It then increased steadily to a peak of 11.51 in 2023 before declining sharply to 8.8 in 2024. This pattern indicates that investors were willing to pay more per unit of operating profit up to 2023 but adjusted their valuation downward in 2024, potentially reflecting changes in operating profit margins or altered market sentiment.
- Price to Sales (P/S) Ratio
- The price to sales ratio remained relatively stable from 2020 through 2023, ranging between 0.42 and 0.51. However, in 2024, the ratio declined noticeably to 0.34, the lowest in five years. This decrease may point to a relative decline in sales valuation or market reassessment of the revenue quality or growth prospects in the most recent year.
- Price to Book Value (P/BV) Ratio
- The price to book value ratio showed a steady increase from 1.46 in 2020 to a peak of 2.13 in 2023, before a slight decrease to 2.02 in 2024. This trend suggests an increasing premium placed on the company’s net asset value over the period, with a minor correction in the most recent year. The high valuation relative to book value implies market optimism regarding the company's asset quality or future profitability.
Price to Earnings (P/E)
Cigna Group, historical P/E calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Shareholders’ net income (in millions) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Abbott Laboratories | ||||||
| CVS Health Corp. | ||||||
| Elevance Health Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| UnitedHealth Group Inc. | ||||||
| P/E Ratio, Sector | ||||||
| Health Care Equipment & Services | ||||||
| P/E Ratio, Industry | ||||||
| Health Care | ||||||
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 2024 Calculation
EPS = Shareholders’ net income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Cigna Group Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated an overall upward trend from 2020 through 2023, increasing from $209.34 to a peak of $336.14. However, in 2024, the share price declined to $302.92, indicating some retracement after the prior growth period.
- Earnings per Share (EPS)
- EPS exhibited volatility across the years, starting at $24.04 in 2020, declining significantly to $16.72 in 2021, then rebounding to $22.45 in 2022. Following that, EPS again deteriorated to $17.66 in 2023 and further decreased to $12.55 in 2024. This trend suggests fluctuating profitability with a notable downward trend from 2022 onward.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio showed a rising trajectory over the period. It started at a low level of 8.71 in 2020, increasing to 13.43 in 2021, and remaining relatively stable at 13.13 in 2022. It then rose sharply to 19.03 in 2023 and further to 24.14 in 2024. This increase in P/E ratio, despite decreasing EPS in the latter years, reflects higher market valuation relative to earnings.
- Overall Insights
- While the share price increased considerably through 2023, the declining EPS in the recent years alongside an increasing P/E ratio suggests that the stock became more expensive relative to its earnings. The market may be pricing in expectations of future growth or other qualitative factors, although recent earnings performance has weakened. The divergence between share price and earnings points to potential valuation concerns or shifts in investor sentiment during the period under review.
Price to Operating Profit (P/OP)
Cigna Group, historical P/OP calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Income from operations (in millions) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Abbott Laboratories | ||||||
| CVS Health Corp. | ||||||
| Elevance Health Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| UnitedHealth Group Inc. | ||||||
| P/OP Ratio, Sector | ||||||
| Health Care Equipment & Services | ||||||
| P/OP Ratio, Industry | ||||||
| Health Care | ||||||
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 2024 Calculation
Operating profit per share = Income from operations ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Cigna Group Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share price trends
- The share price displayed a general upward trend from 209.34 US$ at the end of 2020 to a peak of 336.14 US$ at the end of 2023. However, in 2024, there was a noticeable decline to 302.92 US$, indicating some volatility after reaching its highest value the previous year.
- Operating profit per share (OPPS)
- The operating profit per share consistently increased over the five-year period, rising from 23.17 US$ in 2020 to 34.41 US$ in 2024. This indicates a steady improvement in profitability on a per-share basis, with the most significant increase occurring in the last year.
- Price to operating profit ratio (P/OP)
- The price to operating profit ratio showed variations across the years. It remained relatively stable between 2020 and 2021 (around 9.0), increased to 10.4 in 2022 and further to 11.51 in 2023, before dropping substantially to 8.8 in 2024. This change suggests that the market valuation relative to operating profit per share was high in 2023 but became more conservative in 2024.
- Overall insights
- The data indicate a strong growth in operating profitability per share, supported by an overall growth in share price until 2023. The decline in share price in 2024 alongside a rise in operating profit per share suggests market revaluation or other external factors affecting investor sentiment. The P/OP ratio's fluctuation further supports this, showing an increasing valuation multiple until 2023 with a marked decrease in the final year, implying that the stock became relatively cheaper in terms of operating profit at the end of the analysis period.
Price to Sales (P/S)
Cigna Group, historical P/S calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Revenues from external customers (in millions) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Abbott Laboratories | ||||||
| CVS Health Corp. | ||||||
| Elevance Health Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| UnitedHealth Group Inc. | ||||||
| P/S Ratio, Sector | ||||||
| Health Care Equipment & Services | ||||||
| P/S Ratio, Industry | ||||||
| Health Care | ||||||
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 2024 Calculation
Sales per share = Revenues from external customers ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Cigna Group Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The data reveals several key trends in the financial performance and market valuation of the company Cigna Group over the five-year period ending December 31, 2024.
- Share Price
- There is a general upward trend in the share price from US$209.34 in 2020 to a peak of US$336.14 in 2023, representing a significant increase over the four years. However, in 2024, the share price decreased to US$302.92, indicating a partial retreat from the previous year's high.
- Sales per Share
- Sales per share have shown consistent growth throughout the entire period. Starting at US$452.35 in 2020, it increased annually and considerably accelerated in 2024 to US$899.41, suggesting strong revenue growth on a per-share basis.
- Price-to-Sales Ratio (P/S)
- The P/S ratio initially declined from 0.46 in 2020 to 0.42 in 2021, then rose to 0.49 in 2022 and peaked slightly higher at 0.51 in 2023. Despite the increase in share price and sales per share over these years, the ratio showed some volatility. In 2024, the P/S ratio declined sharply to 0.34, indicating that the share price increase was outpaced by the growth in sales per share, or that market valuation became more conservative relative to sales.
In summary, the share price and sales per share both increased over the period, with sales per share demonstrating more sustained growth. The price-to-sales ratio's fluctuations, particularly its decline in 2024, suggest changing investor sentiment or valuation adjustments relative to sales growth during the final year assessed. This could reflect differing expectations about future performance or market conditions impacting the company's valuation.
Price to Book Value (P/BV)
Cigna Group, historical P/BV calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Shareholders’ equity (in millions) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Abbott Laboratories | ||||||
| CVS Health Corp. | ||||||
| Elevance Health Inc. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| UnitedHealth Group Inc. | ||||||
| P/BV Ratio, Sector | ||||||
| Health Care Equipment & Services | ||||||
| P/BV Ratio, Industry | ||||||
| Health Care | ||||||
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 2024 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Cigna Group Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the given financial data over the five-year period reveals evolving market and book value dynamics for the entity.
- Share Price
- The share price exhibited a general upward trend from 209.34 US$ in 2020 to a peak of 336.14 US$ in 2023. However, in 2024, there was a noticeable decline to 302.92 US$, indicating a potential correction or market reassessment after consistent growth.
- Book Value per Share (BVPS)
- BVPS demonstrated steady but modest growth from 143.02 US$ in 2020 to 158.11 US$ in 2023, before slightly decreasing to 149.93 US$ in 2024. This suggests a generally increasing net asset base per share until the most recent year, where slight depreciation or other accounting factors might have influenced a decrease.
- Price-to-Book Value Ratio (P/BV)
- P/BV ratio started at 1.46 in 2020 and increased steadily to 2.13 in 2023, before a slight drop to 2.02 in 2024. This ratio indicates that the market valued the company’s shares at a premium to its book value, with the premium expanding significantly through 2023, reflecting growing investor confidence or market expectations, followed by a minor contraction in 2024.
Overall, the data depict a period of market optimism with share prices rising faster than book values, culminating in heightened valuation multiples. The decline in share price and BVPS in 2024, alongside a reduced P/BV ratio, could indicate moderation in market sentiment, potential challenges affecting book value, or an adjustment after prior growth trends.