(CNC) Centene - Overview
Stock: Medicaid, Medicare, Commercial, Pharmacy, Clinical
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 56.7% |
| Relative Tail Risk | -19.1% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.36 |
| Alpha | -38.51 |
| Character TTM | |
|---|---|
| Beta | 0.148 |
| Beta Downside | 0.168 |
| Drawdowns 3y | |
|---|---|
| Max DD | 68.65% |
| CAGR/Max DD | -0.23 |
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: -5.29b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 3.79 > 1.0 |
| NWC/Revenue: 1.85% < 20% (prev 2.07%; Δ -0.22% < -1%) |
| CFO/TA 0.05 > 3% & CFO 4.06b > Net Income -5.29b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (491.1m) vs 12m ago -6.19% < -2% |
| Gross Margin: 10.76% > 18% (prev 0.10%; Δ 1066 % > 0.5%) |
| Asset Turnover: 226.1% > 50% (prev 196.4%; Δ 29.66% > 0%) |
| Interest Coverage Ratio: -6.09 > 6 (EBITDA TTM -2.90b / Interest Expense TTM 682.0m) |
Altman Z'' 0.49
| A: 0.04 (Total Current Assets 44.06b - Total Current Liabilities 40.63b) / Total Assets 82.09b |
| B: 0.12 (Retained Earnings 9.78b / Total Assets 82.09b) |
| C: -0.05 (EBIT TTM -4.16b / Avg Total Assets 82.22b) |
| D: 0.16 (Book Value of Equity 9.68b / Total Liabilities 61.03b) |
| Altman-Z'' Score: 0.49 = B |
Beneish M -3.08
| DSRI: 1.10 (Receivables 23.11b/18.28b, Revenue 185.86b/161.73b) |
| GMI: 0.96 (GM 10.76% / 10.37%) |
| AQI: 0.84 (AQ_t 0.44 / AQ_t-1 0.52) |
| SGI: 1.15 (Revenue 185.86b / 161.73b) |
| TATA: -0.11 (NI -5.29b - CFO 4.06b) / TA 82.09b) |
| Beneish M-Score: -3.08 (Cap -4..+1) = AA |
What is the price of CNC shares?
Over the past week, the price has changed by -4.01%, over one month by +6.84%, over three months by +16.76% and over the past year by -31.78%.
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 | 0.6% |
| Analysts Target Price | 43.9 | 0.6% |
| ValueRay Target Price | 42.7 | -2.1% |
CNC Fundamental Data Overview January 24, 2026
P/S = 0.1351
P/B = 1.0657
P/EG = 1.8691
Revenue TTM = 185.86b USD
EBIT TTM = -4.16b USD
EBITDA TTM = -2.90b USD
Long Term Debt = 17.55b USD (from longTermDebt, last quarter)
Short Term Debt = 38.0m USD (from shortTermDebt, last quarter)
Debt = 17.58b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 525.0m USD (from netDebt column, last quarter)
Enterprise Value = 23.18b USD (22.65b + Debt 17.58b - CCE 17.06b)
Interest Coverage Ratio = -6.09 (Ebit TTM -4.16b / Interest Expense TTM 682.0m)
EV/FCF = 6.91x (Enterprise Value 23.18b / FCF TTM 3.36b)
FCF Yield = 14.48% (FCF TTM 3.36b / Enterprise Value 23.18b)
FCF Margin = 1.81% (FCF TTM 3.36b / Revenue TTM 185.86b)
Net Margin = -2.85% (Net Income TTM -5.29b / Revenue TTM 185.86b)
Gross Margin = 10.76% ((Revenue TTM 185.86b - Cost of Revenue TTM 165.85b) / Revenue TTM)
Gross Margin QoQ = 16.38% (prev 6.05%)
Tobins Q-Ratio = 0.28 (Enterprise Value 23.18b / Total Assets 82.09b)
Interest Expense / Debt = 0.97% (Interest Expense 170.0m / Debt 17.58b)
Taxrate = 22.62% (963.0m / 4.26b)
NOPAT = -3.22b (EBIT -4.16b * (1 - 22.62%)) [loss with tax shield]
Current Ratio = 1.08 (Total Current Assets 44.06b / Total Current Liabilities 40.63b)
Debt / Equity = 0.84 (Debt 17.58b / totalStockholderEquity, last quarter 20.95b)
Debt / EBITDA = -0.18 (negative EBITDA) (Net Debt 525.0m / EBITDA -2.90b)
Debt / FCF = 0.16 (Net Debt 525.0m / FCF TTM 3.36b)
Total Stockholder Equity = 25.67b (last 4 quarters mean from totalStockholderEquity)
RoA = -6.43% (Net Income -5.29b / Total Assets 82.09b)
RoE = -20.61% (Net Income TTM -5.29b / Total Stockholder Equity 25.67b)
RoCE = -9.62% (EBIT -4.16b / Capital Employed (Equity 25.67b + L.T.Debt 17.55b))
RoIC = -7.36% (negative operating profit) (NOPAT -3.22b / Invested Capital 43.67b)
WACC = 3.96% (E(22.65b)/V(40.24b) * Re(6.46%) + D(17.58b)/V(40.24b) * Rd(0.97%) * (1-Tc(0.23)))
Discount Rate = 6.46% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -4.42%
[DCF Debug] Terminal Value 81.90% ; FCFF base≈2.11b ; Y1≈1.48b ; Y5≈773.5m
Fair Price DCF = 48.41 (EV 24.32b - Net Debt 525.0m = Equity 23.80b / Shares 491.5m; r=5.90% [WACC]; 5y FCF grow -34.97% → 2.90% )
[DCF Warning] FCF declining rapidly (-34.97%), DCF may be unreliable
EPS Correlation: -48.47 | EPS CAGR: -29.42% | SUE: 3.19 | # QB: 2
Revenue Correlation: 92.73 | Revenue CAGR: 11.93% | SUE: 1.81 | # QB: 11
EPS next Quarter (2026-03-31): EPS=2.08 | Chg30d=-0.146 | Revisions Net=+0 | Analysts=14
EPS next Year (2026-12-31): EPS=2.99 | Chg30d=+0.098 | Revisions Net=+2 | Growth EPS=+46.9% | Growth Revenue=+0.1%