Cigna Corp (CI)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	195,265,000	189,902,000	186,135,000	183,027,000	180,516,000	180,453,000	179,460,000	177,113,000	174,078,000	170,102,000	166,769,000	162,903,000	160,401,000	156,934,000	154,535,000	154,089,000	153,566,000	129,621,000
Property, plant and equipment	US$ in thousands	3,591,000	3,924,000	3,884,000	3,837,000	3,774,000	3,643,000	3,604,000	3,599,000	3,692,000	4,019,000	4,029,000	4,062,000	4,205,000	4,146,000	4,192,000	4,236,000	4,417,000	4,448,000	4,538,000	4,523,000
Fixed asset turnover		54.38	48.40	47.92	47.70	47.83	49.53	49.79	49.21	47.15	42.32	41.39	40.10	38.15	37.85	36.86	36.38	34.77	29.14

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ 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 trend over the past eight quarters, ranging from 47.70 to 52.85. This ratio measures the company's ability to generate revenue from its fixed assets, indicating how efficiently the company is utilizing its assets to generate sales.

A higher fixed asset turnover ratio typically signifies that the company is utilizing its fixed assets effectively to generate sales. In the case of Cigna Group, the relatively high fixed asset turnover ratios across all quarters indicate that the company is efficiently utilizing its fixed assets to generate revenue.

Overall, the consistent and relatively high fixed asset turnover ratios suggest that Cigna Group (The) is effectively leveraging its fixed assets to drive sales, which is a positive indicator of operational efficiency and asset utilization.