Financials Centene Corporation

Equities

CNC

US15135B1017

Managed Healthcare

Market Closed - Nyse 21:00:02 14/06/2024 BST 5-day change 1st Jan Change
68.93 USD -0.07% Intraday chart for Centene Corporation -1.26% -7.11%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,015 34,805 48,081 46,439 39,643 36,785 - -
Enterprise Value (EV) 1 27,618 40,784 53,801 52,385 40,279 39,195 35,788 33,289
P/E ratio 20 x 19.2 x 36.1 x 39.6 x 15 x 11.6 x 10.6 x 9.16 x
Yield - - - - - - 2.42% -
Capitalization / Revenue 0.35 x 0.31 x 0.38 x 0.32 x 0.26 x 0.25 x 0.24 x 0.23 x
EV / Revenue 0.37 x 0.37 x 0.43 x 0.36 x 0.26 x 0.26 x 0.23 x 0.21 x
EV / EBITDA 9.87 x 8.2 x 9.8 x 11.3 x 7.36 x 8.32 x 7.12 x 6.23 x
EV / FCF 36.7 x 8.8 x 16.3 x 9.96 x 5.55 x 22.2 x 8.39 x 8.07 x
FCF Yield 2.73% 11.4% 6.12% 10% 18% 4.5% 11.9% 12.4%
Price to Book 2.08 x 1.35 x 1.79 x 1.88 x 1.53 x 1.35 x 1.2 x 1.11 x
Nbr of stocks (in thousands) 413,796 579,798 583,503 566,260 534,201 533,656 - -
Reference price 2 62.87 60.03 82.40 82.01 74.21 68.93 68.93 68.93
Announcement Date 04/02/20 09/02/21 08/02/22 07/02/23 06/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 74,639 111,115 125,982 144,547 153,999 149,618 155,036 161,090
EBITDA 1 2,799 4,972 5,490 4,624 5,475 4,710 5,027 5,346
EBIT 1 2,414 4,432 4,014 3,888 4,182 3,759 4,124 4,618
Operating Margin 3.23% 3.99% 3.19% 2.69% 2.72% 2.51% 2.66% 2.87%
Earnings before Tax (EBT) 1 1,782 2,773 1,813 1,962 3,598 4,272 4,542 4,976
Net income 1 1,321 1,808 1,347 1,202 2,702 3,099 3,236 3,656
Net margin 1.77% 1.63% 1.07% 0.83% 1.75% 2.07% 2.09% 2.27%
EPS 2 3.140 3.120 2.280 2.070 4.950 5.943 6.517 7.525
Free Cash Flow 1 753 4,634 3,295 5,257 7,254 1,762 4,263 4,126
FCF margin 1.01% 4.17% 2.62% 3.64% 4.71% 1.18% 2.75% 2.56%
FCF Conversion (EBITDA) 26.9% 93.2% 60.02% 113.69% 132.49% 37.42% 84.82% 77.19%
FCF Conversion (Net income) 57% 256.31% 244.62% 437.35% 268.47% 56.86% 131.75% 112.88%
Dividend per Share 2 - - - - - - 1.667 -
Announcement Date 04/02/20 09/02/21 08/02/22 07/02/23 06/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 32,568 37,185 35,936 35,865 35,561 38,889 37,608 38,042 39,460 40,407 36,398 36,221 36,716 40,054 37,753
EBITDA 1 1,062 1,742 1,735 1,156 472 1,534 1,528 1,541 434 1,376 1,411 1,228 523.9 1,574 1,520
EBIT 1 684 1,551 1,537 976 305 1,371 1,382 1,393 119 1,241 1,152 1,009 375.1 1,445 1,278
Operating Margin 2.1% 4.17% 4.28% 2.72% 0.86% 3.53% 3.67% 3.66% 0.3% 3.07% 3.17% 2.79% 1.02% 3.61% 3.38%
Earnings before Tax (EBT) 1 694 1,148 -236 1,009 41 1,391 1,415 768 24 1,473 1,325 1,179 326.2 1,561 1,367
Net income 1 599 849 -172 738 -213 1,130 1,058 469 45 1,163 912.8 829.1 219 1,110 962.1
Net margin 1.84% 2.28% -0.48% 2.06% -0.6% 2.91% 2.81% 1.23% 0.11% 2.88% 2.51% 2.29% 0.6% 2.77% 2.55%
EPS 2 1.010 1.440 -0.2900 1.270 -0.3800 2.040 1.920 0.8700 0.0800 2.160 1.741 1.615 0.4564 2.166 1.932
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 08/02/22 26/04/22 26/07/22 25/10/22 07/02/23 25/04/23 28/07/23 24/10/23 06/02/24 26/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,603 5,979 5,720 5,946 636 2,410 - -
Net Cash position 1 - - - - - - 997 3,496
Leverage (Debt/EBITDA) 0.5727 x 1.203 x 1.042 x 1.286 x 0.1162 x 0.5117 x - -
Free Cash Flow 1 753 4,634 3,295 5,257 7,254 1,762 4,263 4,127
ROE (net income / shareholders' equity) 15.8% 15.1% 5.12% 13.2% 14.6% 13.9% 13.8% 13.9%
ROA (Net income/ Total Assets) 5.17% 3.3% 1.83% 4.33% 4.51% 4.16% 4.31% 4.35%
Assets 1 25,572 54,857 73,547 27,752 59,846 74,412 75,068 84,000
Book Value Per Share 2 30.20 44.30 46.00 43.70 48.30 51.10 57.20 62.00
Cash Flow per Share 2 3.530 9.500 7.120 10.80 14.80 4.450 11.20 -
Capex 1 730 869 910 1,004 799 648 811 849
Capex / Sales 0.98% 0.78% 0.72% 0.69% 0.52% 0.43% 0.52% 0.53%
Announcement Date 04/02/20 09/02/21 08/02/22 07/02/23 06/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
68.93 USD
Average target price
88.29 USD
Spread / Average Target
+28.09%
Consensus
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