Cigna Corp (CI)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	66,000	62,000	66,000	67,000	66,000	69,000	35,000	37,000	28,000	30,000	31,000	35,000	36,000	40,000	43,000	58,000	61,000	—	—	—
Total stockholders’ equity	US$ in thousands	46,223,000	45,691,000	45,445,000	44,502,000	44,675,000	45,041,000	45,892,000	46,087,000	47,112,000	47,415,000	48,709,000	48,149,000	50,321,000	48,032,000	47,366,000	45,079,000	45,338,000	44,696,000	43,815,000	42,408,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $66,000K ÷ ($66,000K + $46,223,000K)
= 0.00

The debt-to-capital ratio of Cigna Group (The) has remained relatively stable over the past eight quarters, ranging between 0.40 and 0.42. This indicates that the company relies on a moderate level of debt financing compared to its capital structure. A ratio of around 0.40 to 0.42 suggests that roughly 40% to 42% of the company's capital is derived from debt, while the remaining portion is funded through equity.

The consistent nature of the debt-to-capital ratio signifies that Cigna Group (The) has been maintaining a balanced approach towards its capital structure over the periods analyzed. It appears that the company's management has been prudent in managing its debt levels relative to its overall capitalization, which can help mitigate financial risks associated with excessive leverage. Further analysis of the specific components of debt and capital would provide more insights into the company's financial health and risk profile.