Cigna Group (CI) FY2020 results: revenue $160.4 billion, up 4.5% on the year
Cigna Group (CI) reported revenue of $160.4 billion for fiscal 2020, the year ended 31 December 2020, up 4.5% on the year before. Net income was $8.5 billion, up 65.7%, and diluted earnings per share $22.96. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$160.4 billion
+4.5% on the year
FY2016FY2020
Operating margin
5.1%
5.3% a year earlier
FY2016FY2020
Net income
$8.5 billion
+65.7% on the year
FY2016FY2020
Diluted EPS
$22.96
+70.8% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
160,401
153,566
48,650
+4.5%
Cost of revenue
103,484
97,668
4,793
+6.0%
Gross profit
56,917
55,898
43,857
+1.8%
Gross margin
35.5%
36.4%
90.1%
Selling, general and administrative
14,072
14,053
11,934
+0.1%
Operating income
8,153
8,077
4,160
+0.9%
Operating margin
5.1%
5.3%
8.6%
Interest expense
1,400
1,600
507
-12.5%
Pre-tax income
10,868
6,570
3,581
+65.4%
Income tax
2,379
1,450
935
+64.1%
Effective tax rate
21.9%
22.1%
26.1%
Net income
8,458
5,104
2,637
+65.7%
Net margin
5.3%
3.3%
5.4%
Diluted EPS
$22.96
$13.44
$10.54
+70.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
10,350
9,485
3,770
+9.1%
Capital expenditure
n/a
1,050
528
Free cash flow
n/a
8,435
3,242
Free cash flow margin
n/a
5.5%
6.7%
Cash from investing
2,976
-734
-26,378
Cash from financing
-8,533
-7,187
23,515
Depreciation and amortisation
2,802
3,651
695
-23.3%
Share-based compensation
289
299
180
-3.3%
Buybacks
4,042
1,987
342
+103.4%
Dividends paid
15.0
15.0
n/a
0.0%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
368m
380m
250m
-3.0%
Shares outstanding at period end
355m
373m
381m
-4.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
50,321
45,338
41,028
+11.0%
Non-controlling interest
7.0
6.0
7.0
+16.7%
Redeemable equity
58.0
35.0
37.0
+65.7%
Debt
32,919
37,407
42,478
-12.0%
Operating lease liabilities
491
465
n/a
+5.6%
Finance lease liabilities
36.0
61.0
32.0
-41.0%
Other liabilities
71,619
72,462
69,644
-1.2%
Total liabilities and equity
155,451
155,774
153,226
-0.2%
Fixed assets
4,205
4,417
4,562
-4.8%
Goodwill
44,648
44,602
44,505
+0.1%
Intangible assets
35,179
36,562
39,003
-3.8%
Investments
24,593
22,479
28,974
+9.4%
Cash and equivalents
10,182
4,619
3,855
+120.4%
Receivables
12,191
10,716
10,473
+13.8%
Inventory
3,165
2,661
2,821
+18.9%
Other assets
21,288
29,718
19,033
-28.4%
Total assets
155,451
155,774
153,226
-0.2%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.