Cigna Corp (CI)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 195,265,000 | 180,518,000 | 174,078,000 | 160,401,000 | 153,566,000 |
| Property, plant and equipment | US$ in thousands | 3,591,000 | 3,774,000 | 3,692,000 | 4,205,000 | 4,417,000 |
| Fixed asset turnover | 54.38 | 47.83 | 47.15 | 38.15 | 34.77 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $195,265,000K ÷ $3,591,000K
= 54.38
The fixed asset turnover ratio for Cigna Group (The) has shown a consistent increasing trend over the past five years. The ratio has increased from 34.77 in 2019 to 52.85 in 2023, indicating that the company is generating more revenue from its fixed assets. This improvement suggests that Cigna Group (The) has been able to efficiently utilize its fixed assets to generate sales, which is a positive sign of operational efficiency. The increasing trend in fixed asset turnover signifies that the company is managing its fixed assets effectively and generating more revenue per dollar invested in these assets. Overall, the improving fixed asset turnover ratio reflects positively on Cigna Group's operational performance and asset utilization efficiency.
Peer comparison
Dec 31, 2023