Cigna Corp (CI)
Total 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 |
| Total assets | US$ in thousands | 152,761,000 | 143,885,000 | 154,889,000 | 155,451,000 | 155,774,000 |
| Total asset turnover | 1.28 | 1.25 | 1.12 | 1.03 | 0.99 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $195,265,000K ÷ $152,761,000K
= 1.28
The total asset turnover ratio for Cigna Group (The) has been showing an increasing trend over the past five years, indicating improved efficiency in generating revenue from its assets. The ratio has steadily increased from 0.99 in 2019 to 1.28 in 2023. This suggests that for each dollar of total assets held by the company, it generated $1.28 of revenue in 2023.
The consistent improvement in the total asset turnover ratio signifies that Cigna Group has been effectively utilizing its assets to drive revenue growth. This may be attributed to better management of inventory, optimized asset utilization, or overall operational efficiency within the organization. The upward trajectory of the total asset turnover ratio indicates a positive trend in the company's ability to generate sales relative to the size of its asset base.
Peer comparison
Dec 31, 2023