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CI (The Cigna Group) Piotroski F-Score : 5 (As of Oct. 31, 2024)


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What is The Cigna Group Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

The Cigna Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for The Cigna Group's Piotroski F-Score or its related term are showing as below:

CI' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 7   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of The Cigna Group was 9. The lowest was 5. And the median was 7.


The Cigna Group Piotroski F-Score Historical Data

The historical data trend for The Cigna Group's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

The Cigna Group Piotroski F-Score Chart

The Cigna Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 9.00 5.00 9.00 5.00

The Cigna Group Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.00 5.00 5.00 5.00 5.00

Competitive Comparison of The Cigna Group's Piotroski F-Score

For the Healthcare Plans subindustry, The Cigna Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


The Cigna Group's Piotroski F-Score Distribution in the Healthcare Plans Industry

For the Healthcare Plans industry and Healthcare sector, The Cigna Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where The Cigna Group's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun24) TTM:Last Year (Jun23) TTM:
Net Income was 1408 + 1029 + -277 + 1548 = $3,708 Mil.
Cash Flow from Operations was 2826 + 1467 + 4840 + 265 = $9,398 Mil.
Revenue was 49034 + 51080 + 55419 + 60475 = $216,008 Mil.
Average Total Assets from the begining of this year (Jun23)
to the end of this year (Jun24) was
(150054 + 149645 + 152761 + 153119 + 155446) / 5 = $152205 Mil.
Total Assets at the begining of this year (Jun23) was $150,054 Mil.
Long-Term Debt & Capital Lease Obligation was $30,175 Mil.
Total Assets was $155,446 Mil.
Total Liabilities was $113,919 Mil.
Net Income was 2757 + 1193 + 1267 + 1460 = $6,677 Mil.

Revenue was 45199 + 45759 + 46461 + 48612 = $186,031 Mil.
Average Total Assets from the begining of last year (Jun22)
to the end of last year (Jun23) was
(152630 + 144209 + 143885 + 147976 + 150054) / 5 = $147750.8 Mil.
Total Assets at the begining of last year (Jun22) was $152,630 Mil.
Long-Term Debt & Capital Lease Obligation was $28,115 Mil.
Total Assets was $150,054 Mil.
Total Liabilities was $104,528 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

The Cigna Group's current Net Income (TTM) was 3,708. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

The Cigna Group's current Cash Flow from Operations (TTM) was 9,398. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun23)
=3708/150054
=0.0247111

ROA (Last Year)=Net Income/Total Assets (Jun22)
=6677/152630
=0.04374631

The Cigna Group's return on assets of this year was 0.0247111. The Cigna Group's return on assets of last year was 0.04374631. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

The Cigna Group's current Net Income (TTM) was 3,708. The Cigna Group's current Cash Flow from Operations (TTM) was 9,398. ==> 9,398 > 3,708 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun23 to Jun24
=30175/152205
=0.19825236

Gearing (Last Year: Jun23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun22 to Jun23
=28115/147750.8
=0.19028662

The Cigna Group's gearing of this year was 0.19825236. The Cigna Group's gearing of last year was 0.19028662. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Jun24)=Total Assets/Total Liabilities
=155446/113919
=1.36453094

Current Ratio (Last Year: Jun23)=Total Assets/Total Liabilities
=150054/104528
=1.4355388

The Cigna Group's current ratio of this year was 1.36453094. The Cigna Group's current ratio of last year was 1.4355388. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

The Cigna Group's number of shares in issue this year was 284.052. The Cigna Group's number of shares in issue last year was 296.879. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=3708/216008
=0.01716603

Net Margin (Last Year: TTM)=Net Income/Revenue
=6677/186031
=0.03589187

The Cigna Group's net margin of this year was 0.01716603. The Cigna Group's net margin of last year was 0.03589187. ==> Last year's net margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun23)
=216008/150054
=1.4395351

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun22)
=186031/152630
=1.2188364

The Cigna Group's asset turnover of this year was 1.4395351. The Cigna Group's asset turnover of last year was 1.2188364. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+0+0+1+0+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

The Cigna Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The Cigna Group  (NYSE:CI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


The Cigna Group Piotroski F-Score Related Terms

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The Cigna Group Business Description

Address
900 Cottage Grove Road, Bloomfield, CT, USA, 06002
Cigna primarily provides pharmacy benefit management and health insurance services. Its PBM and specialty pharmacy services, which were greatly expanded by its 2018 merger with Express Scripts, are mostly sold to health insurance plans and employers. Its largest PBM contract is the Department of Defense, and it recently won a deal with top-tier insurer Centene. In health insurance and other benefits, Cigna mostly serves employers through self-funding arrangements, and the company operates mostly in the US with 18 million US medical members covered as of December 2023.
Executives
Delaney William J Iii director 1390 ENCLAVE PARKWAY, HOUSTON TX 77077
Michael W Triplett officer: President, US Markets 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192
Nicole S Jones officer: EVP, General Counsel 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL18Y, PHILADELPHIA PA 19192
Brian C Evanko officer: President Government Business 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192
Elder Granger director 5176 S. LEWISTON WAY, CENTENNIAL CO 80015
Noelle K Eder officer: EVP, CIO 1680 CAPITAL ONE DRIVE, MCLEAN VA 22102
Agoglia Hoeltzel Mary T officer: VP & Chief Accounting Officer 1601 CHESTNUT STREET, TWO LIBERTY PLACE, PHILADELPHIA PA 19192
David Cordani director, officer: President & CEO THE CIGNA GROUP, 900 COTTAGE GROVE ROAD, BLOOMFIELD CT 06002
Eric P Palmer officer: EVP, Chief Financial Officer 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192
Cynthia Ryan officer: EVP, CHRO 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Z, PHILADELPHIA PA 19192
Everett Neville officer: EVP, Strategy and Business Dev ONE EXPRESS WAY, ST. LOUIS MO 63121
Paul A Sanford officer: EVP Operations 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Z, PHILADELPHIA PA 19192
Phillip Ozuah director 30 HUDSON STREET, FLOOR 33, JERSEY CITY NJ 07302
Donna F Zarcone director C/O HARLEY DAVIDSON, 3700 W. JUNEAU AVE, MILWAUKEE WI 53208
Jason D Sadler officer: Pres., International Markets 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192