Cigna Corp (CI)
Receivables 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 |
| Receivables | US$ in thousands | 17,722,000 | 17,218,000 | 15,071,000 | 12,191,000 | 10,716,000 |
| Receivables turnover | 11.02 | 10.48 | 11.55 | 13.16 | 14.33 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $195,265,000K ÷ $17,722,000K
= 11.02
The receivables turnover ratio for Cigna Group (The) has fluctuated over the past five years. In 2023, the ratio was 11.02 times, indicating that the company collected its accounts receivable 11.02 times during the year. This represents a slight increase compared to the previous year, where the ratio was 10.48 times.
Despite the increase in 2023, the receivables turnover ratio has been steadily declining since 2019 when it was 14.33 times. This downward trend may suggest that Cigna Group (The) is taking longer to collect its accounts receivable, which could potentially impact its cash flow and liquidity.
A lower receivables turnover ratio could indicate inefficiencies in the company's credit and collection policies, as well as potential issues with customer creditworthiness. It may be beneficial for Cigna Group (The) to review its accounts receivable management practices to improve efficiency and enhance its overall financial performance.
Peer comparison
Dec 31, 2023