(CNC) Centene - Overview
Stock: Medicaid, Medicare, Commercial, Pharmacy, Clinical
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 49.8% |
| Relative Tail Risk | -11.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.45 |
| Alpha | -40.99 |
| Character TTM | |
|---|---|
| Beta | 0.152 |
| Beta Downside | 0.171 |
| Drawdowns 3y | |
|---|---|
| Max DD | 68.65% |
| CAGR/Max DD | -0.29 |
Description: CNC Centene December 19, 2025
Centene Corp (NYSE:CNC) is a U.S.-based managed-care company that serves under-insured and uninsured populations through four business lines: Medicaid (including TANF, Medicaid expansion, and dual-eligible plans), Medicare (special-needs, supplement, and prescription-drug plans), Commercial (individual and group marketplace products), and “Other” (clinical services, pharmacy, vision/dental, behavioral health, and federal contracts). Founded in 1984 and headquartered in St. Louis, Missouri, the firm leverages a network of primary-care, specialty-care, hospital, and ancillary providers to deliver health-benefit solutions.
Key recent metrics: 2023 revenue reached approximately $140 billion, with Medicaid enrollment up ~4% YoY driven by continued state expansions, while Medicare Advantage enrollment grew ~7% as seniors shift to managed-care plans. The sector is sensitive to federal policy-particularly ACA marketplace subsidies and Medicaid funding reforms-which together account for roughly 70% of Centene’s revenue mix. Operating margin has hovered near 3% after integrating several recent acquisitions, reflecting both scale benefits and integration costs.
If you want a data-rich, independent assessment of CNC’s valuation, ValueRay’s analyst notes provide a concise starting point for further research.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: -6.67b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 4.08 > 1.0 |
| NWC/Revenue: 1.89% < 20% (prev 2.29%; Δ -0.41% < -1%) |
| CFO/TA 0.05 > 3% & CFO 4.06b > Net Income -6.67b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.10 > 1.5 & < 3 |
| Outstanding Shares: last quarter (491.1m) vs 12m ago -2.17% < -2% |
| Gross Margin: 12.24% > 18% (prev 0.10%; Δ 1213 % > 0.5%) |
| Asset Turnover: 244.7% > 50% (prev 197.8%; Δ 46.91% > 0%) |
| Interest Coverage Ratio: -9.46 > 6 (EBITDA TTM -5.14b / Interest Expense TTM 678.0m) |
Altman Z'' 0.30
| A: 0.05 (Total Current Assets 40.37b - Total Current Liabilities 36.70b) / Total Assets 76.75b |
| B: 0.11 (Retained Earnings 8.67b / Total Assets 76.75b) |
| C: -0.08 (EBIT TTM -6.42b / Avg Total Assets 79.60b) |
| D: 0.15 (Book Value of Equity 8.62b / Total Liabilities 56.69b) |
| Altman-Z'' Score: 0.30 = B |
What is the price of CNC shares?
Over the past week, the price has changed by -11.12%, over one month by -18.39%, over three months by +11.07% and over the past year by -35.43%.
Is CNC a buy, sell or hold?
- StrongBuy: 7
- Buy: 3
- Hold: 9
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CNC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 43.9 | 15.4% |
| Analysts Target Price | 43.9 | 15.4% |
| ValueRay Target Price | 36 | -5.4% |
CNC Fundamental Data Overview February 07, 2026
P/S = 0.1127
P/B = 0.9367
P/EG = 1.6428
Revenue TTM = 194.78b USD
EBIT TTM = -6.42b USD
EBITDA TTM = -5.14b USD
Long Term Debt = 17.55b USD (from longTermDebt, two quarters ago)
Short Term Debt = 50.0m USD (from shortTermDebt, last quarter)
Debt = 17.40b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -487.0m USD (from netDebt column, last quarter)
Enterprise Value = 15.98b USD (18.90b + Debt 17.40b - CCE 20.32b)
Interest Coverage Ratio = -9.46 (Ebit TTM -6.42b / Interest Expense TTM 678.0m)
EV/FCF = 4.76x (Enterprise Value 15.98b / FCF TTM 3.36b)
FCF Yield = 20.99% (FCF TTM 3.36b / Enterprise Value 15.98b)
FCF Margin = 1.72% (FCF TTM 3.36b / Revenue TTM 194.78b)
Net Margin = -3.43% (Net Income TTM -6.67b / Revenue TTM 194.78b)
Gross Margin = 12.24% ((Revenue TTM 194.78b - Cost of Revenue TTM 170.94b) / Revenue TTM)
Gross Margin QoQ = 15.18% (prev 16.38%)
Tobins Q-Ratio = 0.21 (Enterprise Value 15.98b / Total Assets 76.75b)
Interest Expense / Debt = 0.97% (Interest Expense 168.0m / Debt 17.40b)
Taxrate = 21.0% (US default 21%)
NOPAT = -5.07b (EBIT -6.42b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.10 (Total Current Assets 40.37b / Total Current Liabilities 36.70b)
Debt / Equity = 0.87 (Debt 17.40b / totalStockholderEquity, last quarter 19.95b)
Debt / EBITDA = 0.09 (negative EBITDA) (Net Debt -487.0m / EBITDA -5.14b)
Debt / FCF = -0.15 (Net Debt -487.0m / FCF TTM 3.36b)
Total Stockholder Equity = 24.06b (last 4 quarters mean from totalStockholderEquity)
RoA = -8.38% (Net Income -6.67b / Total Assets 76.75b)
RoE = -27.74% (Net Income TTM -6.67b / Total Stockholder Equity 24.06b)
RoCE = -15.42% (EBIT -6.42b / Capital Employed (Equity 24.06b + L.T.Debt 17.55b))
RoIC = -11.72% (negative operating profit) (NOPAT -5.07b / Invested Capital 43.25b)
WACC = 3.73% (E(18.90b)/V(36.30b) * Re(6.47%) + D(17.40b)/V(36.30b) * Rd(0.97%) * (1-Tc(0.21)))
Discount Rate = 6.47% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -4.43%
[DCF Debug] Terminal Value 81.90% ; FCFF base≈2.11b ; Y1≈1.48b ; Y5≈773.5m
Fair Price DCF = 50.47 (EV 24.32b - Net Debt -487.0m = Equity 24.81b / Shares 491.5m; r=5.90% [WACC]; 5y FCF grow -34.97% → 2.90% )
EPS Correlation: -53.28 | EPS CAGR: -54.28% | SUE: 0.08 | # QB: 0
Revenue Correlation: 92.73 | Revenue CAGR: 8.06% | SUE: 2.05 | # QB: 12
EPS next Quarter (2026-03-31): EPS=2.08 | Chg30d=+0.011 | Revisions Net=+0 | Analysts=14
EPS current Year (2026-12-31): EPS=2.99 | Chg30d=+0.098 | Revisions Net=+0 | Growth EPS=+43.8% | Growth Revenue=-1.2%
EPS next Year (2027-12-31): EPS=4.03 | Chg30d=-0.023 | Revisions Net=-2 | Growth EPS=+34.8% | Growth Revenue=+0.7%