Centene Corporation (CNC) 10-Year Financial Performance & Capital Metrics

CNC • • Insurance & Managed Care

HealthcareHealth InsuranceGovernment Program SpecialistsMedicaid & Public Program Focused

AboutCentene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs. Its health plans include primary and specialty physician care, inpatient and outpatient hospital care, emergency and urgent care, prenatal care, laboratory and X-ray, home-based primary care, transportation assistance, vision care, dental care, telehealth, immunization, specialty pharmacy, therapy, social work, nurse advisory, and care coordination services, as well as prescriptions and limited over-the-counter drugs, medical equipment, and behavioral health and abuse services. This segment also offers various individual, small group, and large group commercial healthcare products to employers and directly to members. The company's Specialty Services segment provides pharmacy benefits management services; nurse advice line and after-hours support services; vision and dental services, as well as staffing services to correctional systems and other government agencies; and services to Military Health System eligible beneficiaries. This segment offers its services and products to state programs, correctional facilities, healthcare organizations, employer groups, and other commercial organizations. The company provides its services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in St. Louis, Missouri.Show more

Revenue $163.07B +5.9%
Combined Ratio 98.05%
Net Income $3.31B +22.3%
Return on Equity 12.6% +17.0%
Medical Cost Ratio 89.68% +1.0%
Operating Margin 1.95% +2.3%
Net Margin 2.03% +15.5%
ROA 3.96% +18.2%
Equity / Assets 32.15% +4.9%
Book Value per Share 50.62 +6.4%
Tangible BV/Share 6.76 +60.7%
Debt/Equity 0.73 +0.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 20.1%
✓Share count reduced 4.0% through buybacks
✓Trading at only 0.9x book value

✗Weaknesses

✗High loss ratio of 89.7%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y25.7%

5Y16.92%

3Y8.98%

TTM14.92%

Profit (Net Income) CAGR

10Y28.42%

5Y20.13%

3Y34.88%

TTM-272.48%

EPS CAGR

10Y18.77%

5Y14.98%

3Y40.4%

TTM-287.73%

ROCE

10Y Avg9.16%

5Y Avg5.41%

3Y Avg5.1%

Latest6.61%

Peer Comparison

Medicaid & Public Program Focused

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MOHMolina Healthcare, Inc.	9.96B	193.74	9.49	19.31%	1.63%	21.07%	5.46%	0.69
CNCCentene Corporation	23.23B	47.27	7.49	5.89%	-2.85%	-25.12%		0.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	22.76B	40.61B	48.38B	60.12B	74.64B	111.11B	125.98B	144.55B	154B	163.07B
Revenue Growth %	0.37%	0.78%	0.19%	0.24%	0.24%	0.49%	0.13%	0.15%	0.07%	0.06%
Medical Costs & Claims+	20.01B	35.06B	42.58B	51.7B	65.8B	95.9B	111.78B	127.89B	136.68B	146.24B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	2.75B	5.54B	5.8B	8.42B	8.84B	15.22B	14.2B	16.66B	17.32B	16.83B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.44%	1.02%	0.05%	0.45%	0.05%	0.72%	-0.07%	0.17%	0.04%	-0.03%
Operating Expenses+	2.04B	4.28B	4.6B	6.96B	7.06B	12.13B	12.41B	15.34B	14.38B	13.65B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	111M	278M	361M	495M	643M	1.26B	1.33B	1.43B	1.29B	1.24B
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	705M	1.26B	1.2B	1.46B	1.78B	3.08B	1.78B	1.32B	2.93B	3.17B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.52%	0.79%	-0.05%	0.22%	0.22%	0.73%	-0.42%	-0.26%	1.22%	0.08%
EBITDA+	816M	1.54B	1.56B	1.95B	2.42B	4.34B	3.12B	2.75B	4.22B	4.42B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	43M	217M	255M	343M	412M	728M	665M	665M	725M	702M
Non-Operating Income	-35M	-114M	-190M	-253M	-413M	-419M	-694M	-1.31B	-1.39B	-1.78B
Pretax Income+	697M	1.16B	1.13B	1.37B	1.78B	2.77B	1.81B	1.96B	3.6B	4.26B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	339M	599M	326M	474M	473M	979M	477M	760M	899M	963M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	355M	562M	828M	900M	1.32B	1.81B	1.35B	1.2B	2.7B	3.31B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.31%	0.58%	0.47%	0.09%	0.47%	0.37%	-0.25%	-0.11%	1.25%	0.22%
EPS (Diluted)+	1.44	1.72	2.35	2.26	3.14	3.12	2.28	2.07	4.95	6.31
EPS Growth %	0.27%	0.19%	0.37%	-0.04%	0.39%	-0.01%	-0.27%	-0.09%	1.39%	0.27%
EPS (Basic)	1.49	1.76	2.40	2.31	3.19	3.17	2.31	2.09	4.97	6.33
Diluted Shares Outstanding	246.13M	327.95M	353.09M	398.51M	420.41M	579.13M	590.52M	582.04M	545.7M	523.74M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	7.34B	20.2B	21.86B	30.9B	40.99B	68.72B	78.38B	76.87B	84.64B	82.44B
Asset Growth %	0.26%	1.75%	0.08%	0.41%	0.33%	0.68%	0.14%	-0.02%	0.1%	-0.03%
Total Investment Assets+	2.1B	5.05B	5.84B	7.58B	8.58B	14.43B	15.58B	17B	18.75B	20.05B
Long-Term Investments	1.93B	4.54B	5.31B	6.86B	7.72B	12.85B	14.04B	14.68B	16.29B	17.43B
Short-Term Investments	176M	505M	531M	722M	863M	1.58B	1.54B	2.32B	2.46B	2.62B
Total Current Assets+	3.6B	8.37B	8.7B	12B	20.32B	23.39B	28.5B	30.13B	40.76B	38B
Cash & Equivalents	1.76B	3.93B	4.07B	5.34B	12.12B	10.8B	13.12B	12.07B	17.19B	14.06B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	390M	715M	687M	784M	1.09B	1.32B	1.6B	2.46B	5.57B	1.6B
Goodwill & Intangibles+	997M	6.26B	6.15B	9.25B	8.93B	27.04B	27.59B	25.72B	23.66B	22.97B
Goodwill	842M	4.71B	4.75B	7.01B	6.86B	18.65B	19.77B	18.81B	17.56B	17.56B
Intangible Assets	155M	1.54B	1.4B	2.24B	2.06B	8.39B	7.82B	6.91B	6.1B	5.41B
PP&E (Net)	518M	797M	1.1B	1.71B	2.78B	2.77B	6.96B	4.99B	2.42B	2.43B
Other Assets	292M	233M	589M	1.08B	1.25B	2.66B	1.28B	1.35B	1.52B	1.62B
Total Liabilities	5.01B	14.14B	14.98B	19.88B	28.3B	42.76B	51.35B	52.63B	58.69B	55.94B
Total Debt+	1.22B	4.66B	4.7B	6.69B	14.51B	18.32B	22.66B	21.33B	18.88B	19.43B
Net Debt	-539M	725M	627M	1.34B	2.39B	7.52B	9.54B	9.26B	1.68B	5.37B
Long-Term Debt	1.22B	4.65B	4.7B	6.65B	13.64B	16.68B	18.57B	17.94B	17.71B	18.42B
Short-Term Debt	5M	4M	4M	38M	88M	97M	267M	82M	119M	110M
Total Current Liabilities+	3.63B	8.62B	9.33B	11.97B	12.93B	21.59B	25.77B	28.46B	36.72B	34.26B
Accounts Payable	976M	3.76B	4.17B	4.05B	4B	7.07B	8.29B	9.35B	16.25B	13.02B
Deferred Revenue	143M	313M	328M	385M	383M	523M	434M	478M	715M	661M
Other Current Liabilities	2.3B	3.93B	4.29B	6.83B	7.47B	12.23B	14.24B	16.75B	18B	18.31B
Deferred Taxes	0	0	0	0	0	1000K	1000K	1000K	1000K	1000K
Other Liabilities	170M	869M	952M	1.26B	921M	1.62B	1.99B	2.48B	2.74B	1.83B
Total Equity+	2.32B	6.05B	6.88B	11.02B	12.69B	25.96B	27.02B	24.24B	25.96B	26.51B
Equity Growth %	0.23%	1.6%	0.14%	0.6%	0.15%	1.05%	0.04%	-0.1%	0.07%	0.02%
Shareholders Equity	2.16B	5.89B	6.85B	10.92B	12.55B	25.77B	26.8B	24.06B	25.84B	26.41B
Minority Interest	167M	159M	26M	106M	141M	189M	227M	180M	116M	100M
Retained Earnings	1.36B	1.92B	2.75B	3.66B	4.98B	6.79B	8.14B	9.34B	12.04B	15.35B
Common Stock	0	0	4.35B	0	0	1M	1M	1M	1M	1M
Accumulated OCI	-10M	-36M	-3M	-56M	134M	337M	77M	-1.13B	-652M	-504M
Return on Equity (ROE)	0.17%	0.13%	0.13%	0.1%	0.11%	0.09%	0.05%	0.05%	0.11%	0.13%
Return on Assets (ROA)	0.05%	0.04%	0.04%	0.03%	0.04%	0.03%	0.02%	0.02%	0.03%	0.04%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.53x	0.77x	0.68x	0.61x	1.14x	0.71x	0.84x	0.88x	0.73x	0.73x
Book Value per Share	9.44	18.46	19.47	27.66	30.19	44.83	45.76	41.64	47.56	50.62
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	658M	1.85B	1.49B	1.23B	1.48B	5.5B	4.21B	6.26B	8.05B	154M
Operating CF Growth %	-0.46%	1.81%	-0.2%	-0.17%	0.2%	2.71%	-0.24%	0.49%	0.29%	-0.98%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	357M	561M	808M	894M	1.31B	1.79B	1.34B	1.2B	2.7B	3.29B
Depreciation & Amortization	111M	278M	361M	495M	643M	1.26B	1.48B	1.55B	1.29B	1.24B
Stock-Based Compensation	71M	148M	135M	145M	177M	281M	203M	234M	216M	212M
Deferred Taxes	-17M	92M	-108M	-129M	55M	-51M	-132M	-631M	-78M	13M
Other Non-Cash Items	-6M	-12M	-1M	1B	301M	25M	-54M	1.71B	546M	-91M
Working Capital Changes	142M	784M	294M	-171M	-1B	2.19B	1.38B	2.19B	3.37B	-4.51B
Cash from Investing+	-813M	-2.4B	-1.26B	-4.58B	-1.53B	-6.96B	-3.3B	-2.92B	-1.28B	-1.05B
Capital Expenditures	-150M	-306M	-422M	-675M	-730M	-869M	-910M	-1B	-799M	-644M
Acquisitions	-18M	-1.3B	-50M	-2.06B	-36M	-3.58B	-466M	1.02B	619M	990M
Purchase of Investments	-1.32B	-2.45B	-2.7B	-3.85B	-2.58B	-7.4B	-7.4B	-6.74B	-6.62B	-7.18B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	7M	0	12M	0	0	-22M	19M	0	0	0
Cash from Financing+	294M	2.72B	-16M	4.69B	6.81B	260M	1.36B	-4.2B	-1.57B	-2.41B
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-53M	-63M	-65M	-71M	-75M	-626M	-297M	-3.1B	-1.63B	-3.12B
Stock Issued	13M	0	0	2.78B	0	0	0	70M	44M	46M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Other Financing	-4M	-14M	5M	9M	16M	-34M	-102M	-41M	0	-6M
Net Change in Cash+	150M	2.17B	142M	1.27B	6.78B	-1.32B	2.32B	-1.04B	5.12B	-3.13B
Exchange Rate Effect	0	-1000K	0	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K
Cash at Beginning	1.61B	1.76B	3.93B	4.07B	5.34B	12.12B	10.8B	13.12B	12.07B	17.19B
Cash at End	1.76B	3.93B	4.07B	5.34B	12.12B	10.8B	13.12B	12.07B	17.19B	14.06B
Free Cash Flow+	508M	1.54B	1.07B	559M	753M	4.63B	3.29B	5.26B	7.25B	-490M
FCF Growth %	-0.55%	2.04%	-0.31%	-0.48%	0.35%	5.15%	-0.29%	0.6%	0.38%	-1.07%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	2.06	4.71	3.02	1.4	1.79	8	5.58	9.03	13.29	-0.94

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	96.9%	96.89%	97.52%	97.57%	97.61%	97.23%	98.58%	99.09%	98.1%	98.05%
Medical Cost Ratio	87.93%	86.35%	88.01%	85.99%	88.15%	86.31%	88.73%	88.48%	88.76%	89.68%
Return on Equity (ROE)	16.84%	13.42%	12.81%	10.06%	11.14%	9.35%	5.08%	4.69%	10.77%	12.6%
Return on Assets (ROA)	5.39%	4.08%	3.94%	3.41%	3.67%	3.3%	1.83%	1.55%	3.35%	3.96%
Equity / Assets	31.67%	29.97%	31.46%	35.67%	30.96%	37.78%	34.48%	31.53%	30.67%	32.15%
Book Value / Share	9.44	18.46	19.47	27.66	30.19	44.83	45.76	41.64	47.56	50.62
Debt / Equity	0.53x	0.77x	0.68x	0.61x	1.14x	0.71x	0.84x	0.88x	0.73x	0.73x
Revenue Growth	37.44%	78.41%	19.15%	24.25%	24.16%	48.87%	13.38%	14.74%	6.54%	5.89%

Revenue by Segment

	2014	2016	2017	2018	2019	2020	2021	2022	2023	2024
Medicaid	-	-	-	-	-	-	-	-	-	124.45B
Medicaid Growth	-	-	-	-	-	-	-	-	-	-
Commercial	-	-	-	-	-	-	-	-	-	33.7B
Commercial Growth	-	-	-	-	-	-	-	-	-	-
Other Operating	-	-	-	-	-	-	-	-	-	4.92B
Other Operating Growth	-	-	-	-	-	-	-	-	-	-
Health Care, Premium	-	-	-	53.63B	67.44B	100.06B	112.32B	127.13B	135.64B	-
Health Care, Premium Growth	-	-	-	-	25.75%	48.36%	12.26%	13.19%	6.69%	-
Service	-	-	-	2.81B	2.92B	3.75B	5.66B	8.35B	4.46B	-
Service Growth	-	-	-	-	4.24%	28.03%	51.24%	47.39%	-46.59%	-
Managed Care	60M	37.52B	45.8B	-	-	-	-	-	-	-
Managed Care Growth	-	62438.33%	22.05%	-	-	-	-	-	-	-
Specialty Services	3.02B	3.08B	2.58B	-	-	-	-	-	-	-
Specialty Services Growth	-	2.15%	-16.21%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Centene Corporation (CNC) has a price-to-earnings (P/E) ratio of 7.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Centene Corporation (CNC) grew revenue by 5.9% over the past year. This is steady growth.

Centene Corporation (CNC) reported a net loss of $5.29B for fiscal year 2024.

Dividend & Returns

Centene Corporation (CNC) has a return on equity (ROE) of 12.6%. This is reasonable for most industries.

Industry Metrics

Centene Corporation (CNC) has a combined ratio of 98.1%. A ratio below 100% indicates underwriting profitability.

US Stock Screener

...