CIGNA GROUP Reports 7.1% Increase in Total Revenue for Q2 2023
August 23, 2023
☀️Earnings Overview
At the end of June 30, 2023, CIGNA GROUP ($NYSE:CI) reported total revenue of USD 48.6 billion, a 7.1% increase compared to the previous quarter of June 30, 2022. However, their net income for this period was USD 1.5 billion, a 6.4% decrease year over year.
Analysis
GoodWhale has conducted a thorough analysis of CIGNA GROUP‘s wellbeing and presented the results in a Risk Rating report. After analyzing financial and business aspects, the report concluded that CIGNA GROUP is a medium risk investment. Although the risk of investing in CIGNA GROUP is not considered too high, GoodWhale detected one risk warning in its balance sheet. To learn more about the details of the risk warning, users are encouraged to register on the GoodWhale website. With the help of GoodWhale’s detailed analysis and risk warnings, users have the necessary information to make informed decisions when considering investing in CIGNA GROUP. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cigna Group. More…
| Total Revenues | Net Income | Net Margin |
| 186k | 6.64k | 2.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cigna Group. More…
| Operations | Investing | Financing |
| 12.9k | 433 | -8.62k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cigna Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 150.05k | 104.53k | 153.69 |
Key Ratios Snapshot
Some of the financial key ratios for Cigna Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.3% | – | 5.2% |
| FCF Margin | ROE | ROA |
| 6.1% | 13.4% | 4.0% |
Peers
Cigna Corp is a large health insurance company that provides a variety of health insurance products and services to its customers. The company competes with other health insurance companies, such as Oscar Health Inc, Humana Inc, and Molina Healthcare Inc.
– Oscar Health Inc ($NYSE:OSCR)
Oscar Health Inc is a health insurance company that offers individual and family plans on and off the health insurance exchanges. The company was founded in 2012 and is headquartered in New York City. As of 2022, Oscar Health Inc has a market cap of 787.25M and a Return on Equity of -28.44%. The company offers a wide variety of health insurance plans, including HMOs, PPOs, and EPOs. Oscar also offers a wide range of ancillary products, such as dental, vision, and life insurance.
– Humana Inc ($NYSE:HUM)
Humana Inc has a market cap of 63.12B as of 2022, a Return on Equity of 17.4%. The company operates in the healthcare sector and is one of the largest healthcare insurance companies in the United States. Humana offers a wide range of health insurance products and services to individuals, families, and businesses. The company has a strong focus on providing quality healthcare and improving the health and well-being of its members. Humana’s mission is to help people achieve their best health and to make healthcare more affordable and accessible. The company’s competitive advantages include its size, scale, geographic reach, and diversified product portfolio. Humana is well-positioned to continue its growth and to help its members live healthier lives.
– Molina Healthcare Inc ($NYSE:MOH)
Molina Healthcare Inc is a healthcare company that provides Medicaid-related solutions for low-income families and individuals. As of 2022, it has a market capitalization of 20.48 billion dollars and a return on equity of 24.89%. The company has a long history of providing quality healthcare services to its customers and is dedicated to improving the lives of its clients. It is headquartered in Long Beach, California.
Summary
CIGNA GROUP‘s revenue for the quarter ending June 30, 2023 was USD 48.6 billion – a 7.1% increase from the same period last year.
However, their net income decreased by 6.4%, amounting to USD 1.5 billion. The stock price dropped after the release of the earnings report. Investing in CIGNA GROUP may bring some risk as their profits are not growing at the same rate as their revenue, meaning that their bottom line may be affected due to inefficiencies in operations and other factors. Investors should analyze the finer details of the company’s financials before making a decision to invest.
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