— Know what they know.
/
Not Investment Advice

CNC

NYSE · USD
Centene Corp.
Healthcare · Medical - Healthcare Plans
CEO Sarah McGinty London Employees 61,100 R&D / revenue 0.0%
Last price
$69.16−1.91%last session
Market cap
$34.2B
P/E (TTM)
n/m
From 52w high
−2.9%
From 52w low
+118.7%
1-year return
+94.0%
RSI 14 · vs SMA200
62.4 · +27.7%
IS score
36.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

CNC   SPY   XLV (sector ETF) · weekly closes
100120140160180200Jan 26Apr 26Jul 26Oct 26CNC 194XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
7
Profitability
39
Growth
40
Value
40
Momentum
65
Risk (safety)
45
Quality
44
Balance sheet
38
Earnings quality

Flags

Strengths
✓ Net cash✓ FCF yield 5%+
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 2.8Beta 1.112 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
3 open-market sales, $12.1M
Form 144 notices (12m): 7, $24.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+137
223 new holders, 76 closed
1,004 filers hold 99.4% · 343 added, 342 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+300
1,235 funds adding shares
935 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
51.8%
20-day avg 42.4%, 50-day avg 43.7%
Latest 9.4 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$194.8B
Revenue growth YoY+19.4%
Gross margin12.2%
Operating income−$7.6B
Operating margin-3.9%
Net income−$6.7B
Net margin-3.4%
EPS (diluted)$-13.62
Cash flow
Operating cash flow$5.1B
Capital expenditure$767.0M
Free cash flow$4.3B
FCF conversion (FCF / OCF)84.9%
Stock-based compensation$204.0M
FCF less SBC$4.1B
Buybacks$475.0M
Dividends$0
Balance sheet & returns
Cash & short-term investments$17.9B
Total debt$18.2B
Net debt$274.0M
Shareholders' equity$20.1B
Goodwill & intangibles$15.4B
Debt / equity0.71
ROE (TTM)-24.0%
ROIC (TTM)-12.9%
Operating margin by fiscal year
1.4%FY20210.9%FY20221.9%FY20231.9%FY2024-3.9%FY2025
Revenue $126.0B (FY2021) to $194.8B (FY2025), a 11.5% CAGR.

Valuation

P/E (TTM)n/m
EV / EBITDAn/m
Price / sales0.18x
Price / FCF3.8x
FCF yield26.25%
Buyback yield1.39%
SBC / revenue0.1%
Price / book1.51x
Forward P/E FY202614.2x
Forward P/E FY202713.1x
Forward P/E FY202810.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $75.57 across 7 analysts last quarter is theirs, not ours.

CNC vs industry median

19 companies in Medical - Healthcare Plans
Gross margin 16.1% 22.4% Operating margin -2.8% 3.8% Net margin -2.6% 2.6% ROIC -12.9% 11.8%
CNC (TTM)Industry median Asset turnover 2.33 vs industry 1.74 · financial leverage 3.68

Earnings delivery

Next report 2026-10-27 · consensus EPS $0.10
92%
beat rate, 11 of 12 quarters
+19.4%
median EPS surprise
7
longest beat streak
+27+5+9+17+22+82+15-243+445+2+51+130
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-28. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
CNC Centene Corp. $34.2Bn/m-24.0%-2.6%+19.4% +94.0%
HUM Humana Inc. $49.6B38.8x6.8%1.7%+18.3% +54.6%
CI Cigna Corporation $79.9B12.5x15.5%2.3%+7.7% +4.5%
ELV Elevance Health Inc. $92.9B19.0x11.2%2.9%+6.3% +23.6%
MOH Molina Healthcare, Inc. $10.8B1,296.0x-0.2%0.6%+2.6% +10.0%
CVS CVS Health Corp. $118.1B24.1x6.2%2.8%+7.4% —
OSCR Oscar Health, Inc. $8.3B18.6x34.3%7.4%+42.8% —
BIIB Biogen Inc. $34.4B41.0x4.6%3.6%−0.5% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-08Other Events
2026-09-16Regulation FD
2026-08-17Officer/Director Change; Regulation FD; Exhibits
2026-07-29Other Events
2026-07-28Earnings Release; Officer/Director Change; Regulation FD; Exhibits
2026-06-22Officer/Director Change; Regulation FD; Exhibits

Context

Shares outstanding493,995,000
Free float98.2%
Institutional ownership99.4%
Beta1.11
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$65.29 / $54.01
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where CNC sits among 11 scored companies in Medical - Healthcare Plans (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCNCIndustry medianIndustry percentileSector median
P/E (TTM) —
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 0.2x 0.4x
0th		 3.7x
Price / book 1.5x 2.6x
10th		 3.6x
Price / tangible book 4.2x 5.5x
12th		 5.8x
Price / free cash flow 3.8x 9.8x
11th		 21.2x
Price / operating cash flow 3.5x 8.4x
10th		 17.1x
Enterprise value $23.2B $23.2B
50th		 $2.5B
EV / sales 0.1x 0.4x
10th		 3.8x
EV / EBITDA —
EV / EBIT —
EV / free cash flow 2.6x 12.7x
11th		 24.6x
Earnings yield -14.9% 3.8%
0th		 -0.3%
FCF yield 26.2% 10.0%
90th		 1.7%
Operating cash flow yield 28.6% 11.8%
90th		 2.9%
Graham number (per share) —

Profitability (TTM)

MeasureCNCIndustry medianIndustry percentileSector median
Gross margin 16.1% 16.1%
50th		 65.1%
EBITDA margin -1.4% 3.2%
0th		 6.6%
Operating margin -2.8% 2.0%
0th		 3.5%
EBIT margin -2.1% 2.1%
0th		 2.4%
Net margin -2.6% 1.2%
0th		 0.3%
NOPAT margin -2.2% 1.7%
0th		 2.7%
FCF margin 4.6% 3.2%
70th		 4.3%
Operating cash flow margin 5.0% 3.7%
70th		 7.1%
R&D / revenue 0.0% 0.0%
0th		 12.4%
SG&A / revenue 6.9% 6.8%
60th		 37.9%
Stock comp / revenue 0.1% 0.2%
20th		 4.5%
Effective tax rate 21.0% 17.8%
70th		 21.0%

Returns on capital

MeasureCNCIndustry medianIndustry percentileSector median
ROE (on average equity) -20.4% 11.2%
0th		 0.8%
ROA -6.0% 3.6%
0th		 -0.3%
ROIC -37.1% 4.9%
10th		 5.5%
ROCE -9.4% 7.5%
0th		 2.3%
Return on tangible assets -4.7% 4.8%
0th		 1.7%
Cash ROIC (OCF / invested capital) 84.1% 18.5%
86th		 9.7%
Gross profitability (GP / assets) 37.6% 37.6%
50th		 29.9%
ROIC, 3-yr average -5.4% 7.5%
17th		 2.6%
ROIC, 5-yr average 3.2% 6.3%
29th		 3.2%
ROE, 5-yr average 2.6% 12.6%
30th		 -4.9%
Incremental ROIC 94.0% 71.5%
70th		 17.2%

Growth

MeasureCNCIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 8.7% 7.7%
60th		 10.5%
Revenue growth (QoQ) -11.2% 3.1%
0th		 7.2%
Revenue CAGR, 3 yr 9.4% 10.9%
40th		 10.7%
Revenue CAGR, 5 yr 10.4% 12.6%
30th		 12.1%
Gross profit CAGR, 3 yr 22.7% 10.9%
80th		 10.6%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) —
Net income CAGR, 3 yr —
EPS growth (TTM YoY) —
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 730.4% 131.1%
100th		 18.6%
FCF CAGR, 3 yr 5.4% 0.3%
56th		 15.4%
Operating cash flow CAGR, 3 yr 4.4% -4.1%
60th		 11.9%
Book value CAGR, 3 yr -0.9% 5.7%
0th		 2.1%
Dividend CAGR, 3 yr —
Sustainable growth rate —

Margin history & stability

MeasureCNCIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 12.0% 21.2%
30th		 62.6%
Operating margin, 3-yr average 0.0% 2.6%
20th		 1.0%
Net margin, 3-yr average 0.1% 1.4%
20th		 -2.6%
FCF margin, 3-yr average 2.2% 2.1%
60th		 3.2%
Revenue stability (0-1) 0.99 0.97
90th		 0.80
Earnings stability (0-1) 0.25 0.24
60th		 0.37
Margin stability (0-1) 0.78 0.83
40th		 0.93

Liquidity (latest quarter)

MeasureCNCIndustry medianIndustry percentileSector median
Cash & short-term investments $27.1B $8.9B
80th		 $330.9M
Net cash (− = net debt) $11.0B $371.2M
100th		 $8.4M
Working capital $5.9B $477.0M
80th		 $381.1M
Current ratio 1.15 1.50
40th		 3.02
Quick ratio 1.15 1.50
40th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.66 0.98
40th		 1.43
Defensive interval (days) 449 days 521 days
40th		 415 days

Leverage & solvency (latest quarter)

MeasureCNCIndustry medianIndustry percentileSector median
Total debt $16.1B $14.2B
60th		 $289.1M
Debt / equity 0.71 0.71
40th		 0.45
Net debt / equity −0.49 −0.49
50th		 −0.13
Debt / assets 19.4% 23.8%
30th		 24.4%
Debt / capital 41.7% 41.7%
40th		 31.1%
Debt / EBITDA —
Net debt / EBITDA —
Interest coverage (EBIT / interest) −6.1x 3.4x
0th		 2.1x
Cash interest coverage 14.9x 6.8x
88th		 3.6x
Debt payback (years of OCF) 1.6 yrs 2.8 yrs
40th		 2.7 yrs
Liabilities / assets 72.7% 68.5%
70th		 49.8%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 150
80th		 225

Efficiency

MeasureCNCIndustry medianIndustry percentileSector median
Asset turnover 2.29 1.83
60th		 0.56
Fixed asset turnover 90.95 72.51
67th		 4.87
Inventory turnover —
Receivables turnover 9.8 15.8
20th		 6.4
Days sales outstanding 37 days 23 days
80th		 57 days
Days inventory outstanding —
Days payables outstanding 35 days 35 days
60th		 59 days
Cash conversion cycle (days) 2 days 2 days
50th		 70 days
Capex / revenue 0.4% 0.4%
50th		 2.6%
Capex / depreciation 0.64 0.76
30th		 0.55
Operating expense ratio 7.3% 13.7%
10th		 56.5%

Cash flow & earnings quality

MeasureCNCIndustry medianIndustry percentileSector median
Operating cash flow / net income —
FCF / net income —
FCF / operating cash flow 91.8% 88.0%
70th		 81.2%
Capex / operating cash flow 8.2% 12.0%
30th		 18.8%
Accruals ratio -17.5% -3.9%
20th		 -5.4%
Sloan accruals ratio 1.3% 0.9%
60th		 -1.3%
Earnings quality score (0-1) —

Dividends & buybacks

MeasureCNCIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.0%
0th		 0.0%
Dividend per share (TTM) $0.00 $0.00
0th		 $0.00
Payout ratio (dividends / net income) —
Dividends / FCF 0.0% 0.0%
0th		 0.0%
Dividend growth (YoY) —
Buyback yield 0.1% 0.6%
30th		 0.0%
Shareholder yield (dividends + buybacks) 0.1% 2.9%
20th		 0.0%
Share count change (YoY) 0.8% 0.1%
60th		 2.0%
Buybacks, last 5 years $5.0B $772.4M
70th		 $0

Scores & forensic checks

MeasureCNCIndustry medianIndustry percentileSector median
IS score 37 55
20th		 46
IS profitability 7 27
10th		 22
IS growth 39 50
30th		 60
IS value 40 45
30th		 39
IS momentum 40 79
20th		 67
IS risk (safety) 65 80
10th		 80
IS quality 45 67
20th		 49
IS balance sheet 44 62
10th		 55
IS earnings quality 38 65
0th		 56
IS cash flow 56 61
30th		 41
Piotroski F-score (0-9) 6 7
30th		 5
Altman Z-score 2.8 3.1
30th		 3.2
Beneish M-score −3.80 −2.82
10th		 −2.62
Ohlson O-score −6.83 −7.59
80th		 −7.16
IS credit score 52 74
20th		 62

Per share

MeasureCNCIndustry medianIndustry percentileSector median
EPS, diluted (TTM) −$10.25 $1.65
0th		 −$0.03
Book value per share $45.34 $62.12
40th		 $7.10
Tangible book per share $15.43 $6.80
60th		 $1.91
Revenue per share $389.31 $389.31
50th		 $9.38
FCF per share $18.02 $9.16
70th		 $0.46
Operating cash flow per share $19.62 $11.52
70th		 $0.93
Cash per share $54.37 $25.66
70th		 $3.51

Size (TTM)

MeasureCNCIndustry medianIndustry percentileSector median
Market cap $34.2B $34.2B
50th		 $2.4B
Revenue $193.7B $145.7B
60th		 $770.2M
EBITDA −$2.7B $633.7M
0th		 $56.1M
Net income −$5.1B $550.7M
0th		 −$3.3M
Free cash flow $9.0B $4.3B
70th		 $41.2M
Total assets $83.0B $57.2B
60th		 $1.3B
Shareholders' equity $22.6B $19.2B
60th		 $568.4M
Employees 61,100 61,100
50th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-15Carson Michael A
Group President, Medicare&Spec
 Tax withholding 7,130$70.16$500,241115,752
2026-09-30Tyler Lauren M
Director
 Award / grant 482——3,698
2026-09-30Tanji Kenneth
Director
 Award / grant 603——13,093
2026-09-30Samuels Theodore R. Ii
Director
 Award / grant 583——25,796
2026-09-30Eppinger Frederick H
Director
 Award / grant 864——370,402
2026-09-30Coughlin Christopher J
Director
 Award / grant 583——19,294
2026-09-15Pienkos Theodore J
Corporate Controller & CAO
 Tax withholding 1,092$69.41$75,79628,751
2026-08-26Koster Christopher
Secretary & General Counsel
 Open-market sale 56,500$66.90$3.8M248,854
2026-08-18Koster Christopher
Secretary & General Counsel
 Open-market sale 47,603$65.36$3.1M305,354
2026-07-28Diaz Paul J
Director
 Award / grant 2,771——2,771
2026-07-17Tyler Lauren M
Director
 Award / grant 3,155——3,216
2026-06-30Tyler Lauren M
Director
 Award / grant 61——61

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired2146,189—
DiscretionaryDisposed1604—
Open-market saleDisposed3184,103$12.1M
Tax withholdingDisposed38,705$607,523
—Disposed6556—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 7 notices · 393,710 shares · $24.3M
FiledFilerShares proposedEst. proceeds
2026-08-26Koster Christopher56,500$3.8M
2026-08-26Burdick Kenneth A43,600$2.8M
2026-08-18Koster Christopher47,603$3.1M
2026-08-05Burdick Kenneth A100,000$6.8M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 2 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-10Ro KhannaHouseSale$15,001 - $50,0002026-09-07
2025-08-18Tim MooreHouseSale$100,001 - $250,0002025-09-04
2025-08-08Julia LetlowHouseSale$1,001 - $15,0002026-01-14
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.41,446,046$2.7B8.39%
VANGUARD CAPITAL MANAGEMENT LLC31,478,140$2.0B6.37%
VANGUARD PORTFOLIO MANAGEMENT LLC22,352,704$1.4B4.52%
STATE STREET CORP21,965,370$1.4B4.45%
GEODE CAPITAL MANAGEMENT, LLC13,309,729$854.0M2.69%
WELLINGTON MANAGEMENT GROUP LLP13,301,215$853.8M2.69%
AMERIPRISE FINANCIAL INC12,419,397$798.2M2.51%
Invesco Ltd.11,179,844$717.6M2.26%
PRICE T ROWE ASSOCIATES INC /MD/8,701,030$558.5M1.76%
NORGES BANK7,651,758$491.2M1.55%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP7,452,257$478.4M1.51%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC6,975,843$447.8M1.41%
Sixth Street Partners Management Company, L.P.6,975,843$447.8M1.41%
ACADIAN ASSET MANAGEMENT LLC6,851,314$439.7M1.39%
GOLDMAN SACHS GROUP INC6,359,176$408.2M1.29%

Institutional ownership by quarter

2023-092026-0699.4%
% of shares held by 13F filers
2023-092026-061,004
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,00499.4%22334334276
2026-03-3186796.1%105307348135
2025-12-3191296.5%191337288105
2025-09-3084993.0%169333266177
2025-06-3087197.3%111355297124
2025-03-3189998.5%12532832789
2024-12-3187797.4%141281352124
2024-09-30880100.1%8930235895
2024-06-30895105.7%88328357108
2024-03-31930105.0%11838229670
2023-12-31896103.5%14630632357
2023-09-30820102.7%7532029871

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.3%35,946,964
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2026-02-13SCHEDULE 13GAQR Capital Management Holdings, LLC6.5%31,798,738
2025-11-05SCHEDULE 13G/AAbigail P. Johnson0.7%3,345,476
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.04%$973.0M
VTSAX0.04%$973.0M
VSMPX0.04%$973.0M
VTI0.04%$973.0M
VOO0.05%$806.2M
VFFSX0.05%$806.2M

Share structure

Shares outstanding493,995,000
Float485,182,129
Free float98.2%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$126.0B$144.5B$154.0B$163.1B$194.8B
Cost of revenue$111.8B$127.9B$136.7B$146.2B$170.9B
Gross profit$14.2B$16.7B$17.3B$16.8B$23.8B
R&D$0$0$0$0$0
SG&A$9.6B$11.6B$12.6B$12.4B$13.3B
Operating income$1.8B$1.3B$2.9B$3.2B−$7.6B
EBITDA$3.8B$4.1B$5.6B$6.2B−$5.1B
Pretax income$1.8B$2.0B$3.6B$4.3B−$6.7B
Income tax$477.0M$760.0M$899.0M$963.0M−$51.0M
Net income$1.3B$1.2B$2.7B$3.3B−$6.7B
EPS, diluted$2.28$2.07$4.95$6.31$-13.62
Diluted shares590.5M582.0M545.7M523.7M491.1M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$14.7B$14.4B$19.7B$16.7B$17.9B
Receivables$12.2B$13.3B$15.5B$19.7B$18.1B
Inventory$0$0$0$0$0
Total current assets$28.5B$30.1B$40.8B$38.0B$36.0B
PP&E, net$7.0B$5.0B$2.4B$2.4B$2.4B
Goodwill & intangibles$27.6B$25.7B$23.7B$23.0B$15.4B
Total assets$78.4B$76.9B$84.6B$82.4B$77.7B
Accounts payable$8.3B$9.3B$16.3B$13.0B$20.5B
Total current liabilities$25.8B$28.5B$36.7B$34.3B$21.5B
Long-term debt$18.6B$17.9B$17.7B$18.4B$18.0B
Total liabilities$51.4B$52.6B$58.7B$55.9B$57.6B
Shareholders' equity$27.0B$24.2B$26.0B$26.5B$20.1B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.3B$1.2B$2.7B$3.3B−$6.7B
Depreciation & amortization$1.5B$1.6B$1.3B$1.2B$1.3B
Stock-based compensation$203.0M$234.0M$216.0M$212.0M$204.0M
Change in working capital$1.4B$2.2B$3.4B−$4.5B$823.0M
Operating cash flow$4.2B$6.3B$8.1B$154.0M$5.1B
Capital expenditure−$910.0M−$1.0B−$799.0M−$644.0M−$767.0M
Free cash flow$3.3B$5.3B$7.3B−$490.0M$4.3B
Investing cash flow−$3.3B−$2.9B−$1.3B−$1.1B$453.0M
Net debt issued / repaid$1.8B−$1.1B$19.0M$678.0M−$1.1B
Buybacks−$297.0M−$3.1B−$1.6B−$3.1B−$475.0M
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin11.3%11.5%11.2%10.3%12.2%
Operating margin1.4%0.9%1.9%1.9%-3.9%
Net margin1.1%0.8%1.8%2.0%-3.4%
FCF margin2.6%3.6%4.7%-0.3%2.2%
ROE5.1%4.7%10.8%12.7%-28.8%
ROIC3.8%2.6%8.8%8.4%-28.9%
ROA1.8%1.5%3.3%4.0%-8.3%
Debt / equity0.850.890.730.740.94
Interest coverage3.7x4.0x6.0x7.1xn/m
Current ratio1.111.061.111.111.68
Revenue growth+13.4%+14.7%+6.5%+5.9%+19.4%
EPS growth−27.0%−5.7%+134.1%+31.0%−306.4%
P/E at year end36.2x38.2x14.8x9.2xn/m
EV / EBITDA at year end14.4x12.8x7.0x5.3xn/m
FCF yield at year end6.76%11.45%18.18%-1.61%21.38%
Dividend payout0.0%0.0%0.0%0.0%—

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Medicaid Segment———$124.4B$147.6B
Health Care, Premium$112.3B$127.1B$135.6B——
Commercial Segment———$33.7B$42.0B
Service$5.7B$8.3B$4.5B——
Other Operating Segment———$4.9B$5.1B

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $0.10 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$196.2B$194.3B – $199.7B$4.87$4.78 – $5.071214.2x
2027$193.0B$189.8B – $196.0B$5.30$4.95 – $6.201213.1x
2028$199.4B$187.0B – $208.6B$6.54$6.08 – $7.21510.6x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-28$1.09$2.51+130.3%$47.6B$53.6B+12.5%
2026-04-28$2.23$3.37+51.1%$47.5B$49.9B+5.1%
2026-02-06$-1.22$-1.19+2.5%$48.4B$49.7B+2.7%
2025-10-29$-0.14$0.50+445.3%$47.7B$49.7B+4.1%
2025-07-25$0.11$-0.16−243.4%$44.1B$48.7B+10.4%
2025-04-25$2.52$2.90+15.1%$42.8B$46.6B+9.0%
2025-02-04$0.44$0.80+81.8%$39.4B$40.8B+3.7%
2024-10-25$1.33$1.62+21.8%$37.9B$42.0B+10.8%
2024-07-26$2.07$2.42+16.9%$36.8B$39.8B+8.2%
2024-04-26$2.08$2.26+8.7%$36.4B$40.4B+10.9%
2024-02-06$0.43$0.45+4.7%$36.1B$39.5B+9.2%
2023-10-24$1.58$2.00+26.6%$36.2B$38.0B+5.1%
2023-07-28$2.03$2.10+3.4%$36.5B$37.6B+3.1%
2023-04-25$2.09$2.11+1.0%$36.0B$38.9B+7.9%
2023-02-07$0.87$0.86−1.1%$35.4B$35.6B+0.5%
2022-10-25$1.24$1.30+4.8%$35.5B$35.9B+1.0%
2022-07-26$1.73$1.77+2.3%$35.6B$35.9B+1.1%
2022-04-26$1.68$1.83+8.9%$34.5B$37.2B+7.7%
2022-02-08$0.99$1.01+2.0%$32.5B$32.6B+0.2%
2021-10-26$1.25$1.26+0.8%$31.6B$32.4B+2.7%
2021-07-27$1.41$1.25−11.3%$31.4B$31.0B−1.2%
2021-04-27$1.65$1.63−1.2%$29.5B$30.0B+1.7%
2021-02-09$0.45$0.46+2.2%$28.9B$28.3B−2.1%
2020-10-27$0.97$1.26+29.9%$22.4B$29.1B+29.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.406-220.406-290.307-060.407-130.307-200.707-270.508-030.308-100.208-170.308-240.308-31
Week ofNotionalSharesTrades
2026-08-31$325.0M4,891,21589,004
2026-08-24$332.0M5,070,01591,984
2026-08-17$239.9M3,701,11285,273
2026-08-10$254.5M3,825,34589,617
2026-08-03$460.5M7,092,164120,268
2026-07-27$693.1M11,193,517153,440

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1551.8%
DateShort shareShort volumeTotal volume
2026-10-1551.8%812,1401,568,635
2026-10-1445.5%689,4211,515,133
2026-10-1349.9%1,005,5302,017,111
2026-10-1245.2%495,9311,096,456
2026-10-0951.5%549,7971,068,302
2026-10-0842.5%365,392859,183
2026-10-0731.3%415,0701,324,070
2026-10-0618.7%279,2211,494,321
2026-10-0518.0%357,4561,987,855
2026-10-0251.6%657,6151,275,347
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.7Jan-2.3Feb+0.7Mar+0.4Apr+3.9May-0.1Jun-1.6Jul-1.2Aug+1.3Sep+4.7Oct+5.3Nov+2.4Dec
MonthAvg returnUp yearsYears
Jan+0.7%60%20
Feb−2.3%45%20
Mar+0.7%52%21
Apr+0.4%50%20
May+3.9%60%20
Jun−0.1%50%20
Jul−1.6%45%20
Aug−1.2%40%20
Sep+1.3%45%20
Oct+4.7%50%20
Nov+5.3%70%20
Dec+2.4%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1462.4
MFI67.1
ADX17.3
Stochastic %K / %D92.4 / 94.0
Williams %R-16.5
CCI146
TSI / signal15.9 / 2.7
Chaikin money flow0.12
ATR$2.14
Bollinger width17.8%
Volume vs 20-day avg0.60x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$64.72 (+6.9%)
SMA 50$65.39 (+5.8%)
SMA 200$54.15 (+27.7%)
EMA 21$66.09 (+4.6%)
EMA 50$65.10 (+6.2%)
EMA 200$57.17 (+21.0%)
Bollinger upper$70.48 (−1.9%)
Bollinger lower$58.96 (+17.3%)
Parabolic SAR$63.20 (+9.4%)
Open the live chart, 110+ indicators

About Centene Corp.

Centene Corporation operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States. It operates through four segments: Medicaid, Medicare, Commercial, and Other. The Medicaid segment offers the temporary assistance for needy families; medicaid expansion; aged, blind, or disabled; and children's health insurance programs, as well as long-term services and supports; foster care; and medicare-medicaid plans. This segment also provides healthcare products and services. The Medicare segment offers special needs and medicare supplement, and prescription drug plans. The Commercial segment provides health insurance marketplace product for individual and commercial group. The Other segment operates clinical healthcare and pharmacies, as well as offers vision and dental, behavioral health, and centralized services. It provides services through primary and specialty care physicians, hospitals, behavioral health practitioners, and ancillary providers. The company was founded in 1984 and is headquartered in Saint Louis, Missouri.

https://www.centene.com

Key executives

NameTitlePayBorn
Sarah LondonChief Executive Officer & Director$4.0M1981
Keith Harvey WilliamsonPresident of Charitable Foundation$2.7M1952
Andrew Lynn AsherExecutive Vice President & Chief Financial Officer$2.7M1969
Christopher Andrew KosterExecutive Vice President, General Counsel & Secretary$1.4M1965
Susan SmithChief Operating Officer$1.3M1976
Tanya McNallySenior Vice President & Chief People Officer$1.2M1974
Cary D. HobbsExecutive Vice President & Chief of Staff—1968
Jonathan DinesmanExecutive Vice President of External Affairs——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Michael F. Neidorff Chairman, President and Chief Executive Officer2016$1.5M$12.8M$6.6M$22.0M
Cynthia J. Brinkley Executive Vice President, Global Corporate Development2016$650,000$2.8M$1.1M$4.7M
Jesse N. Hunter Executive Vice President, Products2016$650,000$2.0M$1.7M$4.4M
Jeffrey A. Schwaneke Executive Vice President and Chief Financial Officer (effective March 1, 2016)2016$632,671$2.3M$1.4M$4.3M
Keith H. Williamson Executive Vice President, Secretary and General Counsel2016$600,000$843,900$1.5M$3.0M
William N. Scheffel Former Executive Vice President and Chief Financial Officer (retired effective March 1, 2016)2016$121,154$0$743,227$889,807

Employees

47k201857k201971k202072k202174k202268k202360k202461k2025

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage32
Intangibles40
Switching costs54
Network effect28
Efficient scale55
Our component scores (0-100) and overall 42.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms