Centene Corp

  • Earnings Score
  • Moat Score
  • Safety Score
  • Final Score
  • Market Cap $29.81B
  • PE 10
  • Debt $17.61B
  • Cash $14.65B
  • EV $32.77B
  • FCF $245.00M

Earnings

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Sales & Net Margins

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Earnings$3.06B
EBIT$3.93B
ROE11%
ROA5%
FCF$245.00M
Equity$27.40B
Growth Stability81%
PE9.76
PEG0.47
PB1.09
P/FCF121.69
P/S0.18
Price/Cash0.49
Debt/Equity0.64
Debt/FCF71.86
Net Margins2%
Gross Margins11%
Op. Margins2%
Earnings CAGR23%
Sales Growth YoY10%
Sales Growth QoQ5%
Sales CAGR24%
FCF CAGR24%
Equity CAGR33%
Earnings Stability0.75
Earnings Growth YoY50%
Earnings Growth QoQ-38%
Earnings CAGR 5Y21%
Sales CAGR 5Y15%
FCF CAGR 5Y6%
Equity CAGR 5Y5%
Earnings CAGR 3Y8%
Sales CAGR 3Y8%
FCF CAGR 3Y-43%
Equity CAGR 3Y1%
Market Cap$29.81B
Revenue$161.73B
Assets$82.35B
Total Debt$17.61B
Cash$14.65B
Shares Outstanding510.08M
EV32.77B
Earnings Score92%
Moat Score71%
Safety Score70%
Final Score78%
Working Capital3.35B
Current Ratio1.1
Gross Profit$17.01B
Shares Growth 3y-5%
Equity Growth QoQ-0%
Equity Growth YoY8%

Assets & ROA

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Stockholders Equity & ROE

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Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 22 million medical members as of September 2021, mostly in Medicaid (68% of membership), the individual exchanges (10%), Medicare Advantage (6%), and the balance in Tricare (West region), correctional facility, and international plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.

SEC Filings

Direct access to Centene Corp (CNC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

  • 2024
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2023
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31
  • 2022
    • 10-K Dec 31
    • 10-Q Sep 30
    • 10-Q Jun 30
    • 10-Q Mar 31

Sector Comparison

How does Centene Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Centene Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 23%
Stability 75%
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Centene Corp Discounted Cash Flow

Fully customizable DCF calculator online for Centene Corp.

= $13B
012345678910TV
fcf$245M$305M$379M$471M$585M$728M$905M$1.1B$1.4B$1.7B$2.2B$22B
DCF$277M$313M$354M$400M$452M$511M$577M$652M$737M$833M$8.3B
Value$13B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023TTM
Net Margins2%2%1%2%1%2%2%1%1%2%2%
ROA-10%7%6%6%5%5%2%3%4%5%
ROE-16%9%12%8%10%7%5%5%10%11%

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023TTM
Debt over FCF-2.423.14.5312.3218.523.665.863.472.4971.86
Debt over Equity0.510.570.810.70.631.10.660.720.760.70.64
Growth Stability---100%100%100%100%100%81%100%81%

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12/201412/201512/201612/201712/201812/201912/202012/202112/202212/2023CAGR 5Y
Revenue YoY growth-37%78%19%24%24%49%13%15%7%15%
Earnings YoY growth-34%58%44%11%46%37%-26%-10%125%21%
Equity YoY growth-24%173%16%60%15%104%4%-10%7%5%
FCF YoY growth--55%204%-31%-48%35%515%-29%60%38%6%