Cigna (CI) FY2024 10-K Annual Report
Cigna (CI) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Cigna FY2024 10-K Analysis
Business Overview
- • Core business model: Health services and insurance with key focus on Medicare and Individual and Family Plan (IFP) customers
- • New emphasis on Medicare business expansion reflected by $175 million increase in unpaid claims liability, partially offsetting $300 million decrease in IFP claims
- • Strategic shift: Increased Medicare focus aligns with decreased IFP customer base, signaling changing portfolio risk and growth priorities
- • Notable quantitative metric: Other Operations revenues up 39% to $828 million; pre-tax adjusted income from operations down to loss of $9 million from $96 million
- • Corporate pre-tax adjusted loss steady near $1.7 billion, with lower pension and operating costs partly offset by 6% rise in interest expense
Management Discussion & Analysis
- • Revenue details not explicitly disclosed in provided text; focus on Evernorth Health Services and Cigna Healthcare segments described
- • Profitability/margin figures not provided for fiscal 2024; no % margins or YoY profit changes disclosed
- • Best performing segment implied Evernorth Health Services with integrated Pharmacy Benefit Services and Specialty and Care Services fueling growth
- • No segment revenue figures or worst performing segments directly stated in excerpt
- • Capital allocation: no specific cash flow, buyback, dividend, or capex numbers disclosed in provided text
- • Forward outlook absent; no guidance or key risk details presented in excerpt; pending HCSC transaction noted for Medicare Advantage and related businesses
Risk Factors
- • Regulatory/legal risk: Potential credit losses on $9.4B debt securities portfolio amid rising interest rates per FASB's credit loss guidance, monitored in Note 11 disclosures
- • Geopolitical/macro risk: $15.6B insurance joint venture in China exposed to geopolitical and economic uncertainties in that market
- • Operational/supply chain risk: 25% exposure to stressed office real estate sector in $1.4B commercial mortgage loan portfolio amid shifting work-from-home trends
- • Competitive/market disruption risk: Real estate limited partnerships face valuation volatility due to market and portfolio transaction adjustments affecting $4.6B long-term investments
- • Financial/structural risk: $1.8B fair value decline in long-term debt under a 100 basis point interest rate increase scenario, indicating sensitivity to rising rates
Cigna FY2024 Key Financial MetricsXBRL
Revenue
$247.1B
▲ +26.6% YoY
Net Income
$3.4B
▼ -33.5% YoY
Operating Margin
3.8%
▼ -56bp YoY
Net Margin
1.4%
▼ -126bp YoY
ROE
8.4%
▼ -280bp YoY
Total Assets
$155.9B
▲ +2.0% YoY
EPS (Diluted)
$12.12
▼ -30.3% YoY
Operating Cash Flow
$10.4B
▼ -12.3% YoY
Source: XBRL data from Cigna FY2024 10-K filing on SEC EDGAR. All figures in USD.
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