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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
The Cigna Group's Net-Net Working Capital for the quarter that ended in Mar. 2024 was $-293.88.
The industry rank for The Cigna Group's Net-Net Working Capital or its related term are showing as below:
The historical data trend for The Cigna Group's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
The Cigna Group Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Net-Net Working Capital | Get a 7-Day Free Trial | -249.32 | -227.52 | -269.54 | -253.09 | -274.31 |
The Cigna Group Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Net-Net Working Capital | Get a 7-Day Free Trial | -261.83 | -258.86 | -260.51 | -274.31 | -293.88 |
For the Healthcare Plans subindustry, The Cigna Group's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Healthcare Plans industry and Healthcare sector, The Cigna Group's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where The Cigna Group's Price-to-Net-Net-Working-Capital falls into.
The Cigna Group's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as
Net-Net Working Capital | (A: Dec. 2023 ) | ||||||||
= | (Balance Sheet Cash And Cash Equivalents | + | Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||||
= | (7822 | + | 925 | + | 0.75 * 23407 | + | 0.5 * 0 | - | 106410 |
- | 0 | - | 128) | / | 292.504 | ||||
= | -274.31 |
The Cigna Group's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as
Net-Net Working Capital | (Q: Mar. 2024 ) | ||||||||
= | (Balance Sheet Cash And Cash Equivalents | + | Marketable Securities | + | 0.75 * Accounts Receivable | + | 0.5 * Total Inventories | - | Total Liabilities |
- | Preferred Stock | - | Minority Interest) | / | Shares Outstanding (EOP) | ||||
= | (8439 | + | 1108 | + | 0.75 * 25235 | + | 0.5 * 0 | - | 111769 |
- | 0 | - | 169) | / | 284.014 | ||||
= | -293.88 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
The Cigna Group (NYSE:CI) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Thank you for viewing the detailed overview of The Cigna Group's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.
Cynthia Ryan | officer: EVP, CHRO | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Z, PHILADELPHIA PA 19192 |
Nicole S Jones | officer: EVP, General Counsel | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL18Y, PHILADELPHIA PA 19192 |
Agoglia Hoeltzel Mary T | officer: VP & Chief Accounting Officer | 1601 CHESTNUT STREET, TWO LIBERTY PLACE, PHILADELPHIA PA 19192 |
Brian C Evanko | officer: President Government Business | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192 |
Everett Neville | officer: EVP, Strategy and Business Dev | ONE EXPRESS WAY, ST. LOUIS MO 63121 |
Paul A Sanford | officer: EVP Operations | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Z, PHILADELPHIA PA 19192 |
Phillip Ozuah | director | 30 HUDSON STREET, FLOOR 33, JERSEY CITY NJ 07302 |
Donna F Zarcone | director | C/O HARLEY DAVIDSON, 3700 W. JUNEAU AVE, MILWAUKEE WI 53208 |
Michael W Triplett | officer: President, US Markets | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192 |
Elder Granger | director | 5176 S. LEWISTON WAY, CENTENNIAL CO 80015 |
David Cordani | director, officer: President & CEO | THE CIGNA GROUP, 900 COTTAGE GROVE ROAD, BLOOMFIELD CT 06002 |
Jason D Sadler | officer: Pres., International Markets | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192 |
Eric P Palmer | officer: EVP, Chief Financial Officer | 1601 CHESTNUT STREET, SHAREHOLDER SERVICES TL05Y, PHILADELPHIA PA 19192 |
David J Brailer | officer: EVP & Chief Health Officer | 4 PRESIDIO TERRACE, SAN FRANCISCO CA 94118 |
Charles Berg | officer: Pres, Govt Programs & Sr Advsr | 48 MONROE TURNPIKE, TRUMBULL CT 06611 |
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