Centene Corporation (CNC) Financial Ratios
26 years of historical data (2000–2025) · Healthcare · Medical - Healthcare Plans
EV/EBITDA
↓
N/A
—
5yr avg: 14.45
30Y Low4.3·High20.7
P/FCF
↓
6.97
↓-18% vs avg
5yr avg: 8.53
30Y Low4.7·High41.1
P/B Ratio
↓
1.49
-1% vs avg
5yr avg: 1.51
30Y Low1.0·High4.6
ROE
↓
-28.7%
↑-3299% vs avg
5yr avg: 0.9%
30Y Low-29%·High47%
Debt/EBITDA
↓
N/A
—
5yr avg: 5.97
30Y Low0.2·High7.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Centene Corporation currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 7.0x P/FCF, 18% below the 5-year average of 8.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $30.1B | $20.2B | $31.7B | $40.5B | $47.7B | $48.7B | $34.8B | $26.4B | $23.0B | $17.8B | $9.3B |
| Enterprise Value | $31.0B | $21.1B | $37.1B | $42.2B | $57.0B | $58.2B | $42.3B | $28.8B | $24.3B | $18.4B | $10.0B |
| P/E Ratio → | -4.48 | — | 9.60 | 14.99 | 39.62 | 36.14 | 19.24 | 20.02 | 25.51 | 21.46 | 16.43 |
| P/S Ratio | 0.15 | 0.10 | 0.19 | 0.26 | 0.33 | 0.39 | 0.31 | 0.35 | 0.38 | 0.37 | 0.23 |
| P/B Ratio | 1.49 | 1.01 | 1.20 | 1.56 | 1.97 | 1.80 | 1.34 | 2.08 | 2.08 | 2.59 | 1.53 |
| P/FCF | 6.97 | 4.68 | — | 5.58 | 9.08 | 14.77 | 7.50 | 35.10 | 41.10 | 16.69 | 6.00 |
| P/OCF | 5.92 | 3.97 | 206.03 | 5.03 | 7.62 | 11.57 | 6.32 | 17.82 | 18.62 | 11.96 | 5.01 |
P/E links to full P/E history page with 30-year chart
CNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.11 | 0.23 | 0.27 | 0.39 | 0.46 | 0.38 | 0.39 | 0.40 | 0.38 | 0.25 |
| EV / EBITDA | — | — | 8.40 | 9.99 | 20.73 | 18.66 | 9.74 | 11.89 | 12.45 | 11.82 | 6.48 |
| EV / EBIT | — | — | 7.48 | 9.76 | 21.69 | 23.49 | 12.08 | 13.13 | 14.21 | 13.27 | 7.26 |
| EV / FCF | — | 4.88 | — | 5.81 | 10.84 | 17.66 | 9.12 | 38.27 | 43.50 | 17.28 | 6.47 |
CNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Centene Corporation earns an operating margin of -3.9%. Operating margins have compressed from 1.9% to -3.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -28.7% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.2% | 12.2% | 10.3% | 11.2% | 11.5% | 11.3% | 13.7% | 11.8% | 14.0% | 12.0% | 13.7% |
| Operating Margin | -3.9% | -3.9% | 1.9% | 1.9% | 0.9% | 1.4% | 2.8% | 2.4% | 2.4% | 2.5% | 3.1% |
| Net Profit Margin | -3.4% | -3.4% | 2.0% | 1.8% | 0.8% | 1.1% | 1.6% | 1.8% | 1.5% | 1.7% | 1.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -28.7% | -28.7% | 12.6% | 10.8% | 4.7% | 5.1% | 9.4% | 11.1% | 10.1% | 12.8% | 13.4% |
| ROA | -8.3% | -8.3% | 4.0% | 3.3% | 1.5% | 1.8% | 3.3% | 3.7% | 3.4% | 3.9% | 4.1% |
| ROIC | -21.6% | -21.6% | 8.0% | 7.2% | 2.8% | 3.8% | 9.5% | 9.7% | 11.0% | 12.6% | 22.1% |
| ROCE | -14.6% | -14.6% | 6.6% | 6.1% | 2.6% | 3.6% | 8.2% | 7.6% | 9.3% | 10.0% | 16.5% |
CNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $889M ($18.8B total debt minus $17.9B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | 0.94 | 0.73 | 0.73 | 0.88 | 0.84 | 0.71 | 1.14 | 0.61 | 0.68 | 0.77 |
| Debt / EBITDA | — | — | 4.40 | 4.47 | 7.76 | 7.27 | 4.22 | 5.99 | 3.42 | 3.01 | 3.02 |
| Net Debt / Equity | — | 0.04 | 0.20 | 0.06 | 0.38 | 0.35 | 0.29 | 0.19 | 0.12 | 0.09 | 0.12 |
| Net Debt / EBITDA | — | — | 1.22 | 0.40 | 3.37 | 3.06 | 1.73 | 0.98 | 0.69 | 0.40 | 0.47 |
| Debt / FCF | — | 0.21 | — | 0.23 | 1.76 | 2.90 | 1.62 | 3.17 | 2.40 | 0.59 | 0.47 |
| Interest Coverage | -9.46 | -9.46 | 7.06 | 5.96 | 3.95 | 3.73 | 4.81 | 5.33 | 4.99 | 5.45 | 6.35 |
CNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.68x means Centene Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.11x to 1.68x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.68 | 1.68 | 1.11 | 1.11 | 1.06 | 1.11 | 1.08 | 1.57 | 1.00 | 0.93 | 0.97 |
| Quick Ratio | 1.68 | 1.68 | 1.11 | 1.11 | 1.06 | 1.11 | 1.08 | 1.57 | 1.00 | 0.93 | 0.97 |
| Cash Ratio | 0.83 | 0.83 | 0.49 | 0.54 | 0.51 | 0.57 | 0.57 | 1.00 | 0.51 | 0.49 | 0.51 |
| Asset Turnover | — | 2.51 | 1.98 | 1.82 | 1.88 | 1.61 | 1.62 | 1.82 | 1.95 | 2.21 | 2.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Centene Corporation returns 1.6% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 10.4% | 6.7% | 2.5% | 2.8% | 5.2% | 5.0% | 3.9% | 4.7% | 6.1% |
| FCF Yield | 14.3% | 21.4% | — | 17.9% | 11.0% | 6.8% | 13.3% | 2.8% | 2.4% | 6.0% | 16.7% |
| Buyback Yield | 1.6% | 2.4% | 9.8% | 4.0% | 6.5% | 0.6% | 1.8% | 0.3% | 0.3% | 0.4% | 0.7% |
| Total Shareholder Yield | 1.6% | 2.4% | 9.8% | 4.0% | 6.5% | 0.6% | 1.8% | 0.3% | 0.3% | 0.4% | 0.7% |
| Shares Outstanding | — | $491M | $524M | $546M | $582M | $591M | $579M | $420M | $399M | $353M | $328M |
Peer Comparison
Compare CNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CNCYou | $30B | -4.5 | — | 7.0 | 12.2% | -3.9% | -28.7% | -21.6% | — |
 MOH | $10B | 21.9 | 10.1 | — | 9.0% | 1.7% | 11.0% | 17.4% | 4.0 |
 UNH | $364B | 30.3 | 17.9 | 22.6 | 18.5% | 4.2% | 11.8% | 9.2% | 3.4 |
 ELV | $84B | 15.5 | 11.2 | 26.6 | 25.6% | 4.1% | 13.3% | 9.1% | 3.4 |
 HUM | $43B | 36.7 | 22.9 | 115.5 | 14.5% | 1.1% | 7.0% | 4.1% | 5.7 |
 CVS | $125B | 70.7 | 14.0 | 16.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
 ALHC | $4B | -5908.1 | 93.4 | 39.5 | 12.4% | 0.4% | -0.5% | — | 7.5 |
 OSCR | $7B | -16.8 | — | 7.0 | 14.4% | -3.4% | -44.4% | — | — |
 CLOV | $3B | -29.4 | — | — | 18.5% | -4.4% | -26.3% | -34.0% | — |
 BHVN | $1B | -2.0 | — | — | — | — | -310.8% | -242.1% | — |
 MCK | $90B | 19.6 | 13.2 | 15.8 | 3.6% | 1.6% | — | 254.1% | 1.2 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
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CNC — Frequently Asked Questions
Quick answers to the most common questions about buying CNC stock.
What is Centene Corporation's P/E ratio?
Centene Corporation's current P/E ratio is -4.5x. The historical average is 19.7x.
What is Centene Corporation's ROE?
Centene Corporation's return on equity (ROE) is -28.7%. The historical average is 12.4%.
Is CNC stock overvalued?
Based on historical data, Centene Corporation is trading at a P/E of -4.5x. Compare with industry peers and growth rates for a complete picture.
What are Centene Corporation's profit margins?
Centene Corporation has 12.2% gross margin and -3.9% operating margin.