Centene (CNC) stock
Health Care · Managed Health Care
Centene (CNC) is a Managed Health Care company in the Health Care sector, headquartered in St. Louis, Missouri. As of October 23, 2026, CNC closed at $70.17, a market capitalization of $34.66 billion, the 300th largest company in the S&P 500. Over the last twelve months it generated $180.30 billion in revenue (+5% year over year) and $8.95 billion in free cash flow.
- 1-year total return: +104.2% (dividends reinvested)
- 5-year return: +0.3% a year
- 52-week range: $31.63 – $72.50
- Gross margin 11.4%, operating margin 3.8%
- FI Handbook report card: C across 10 metrics
- 38th largest of 60 Health Care stocks in the S&P 500
CNC price chart
1Y price change: +104.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| CNC | +13.0% | +70.5% | +104.2% | -0.3% | +0.3% | +8.5% | +16.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2001.
CNC key statistics
- Market cap
- $34.7B
- #300 in S&P 500
- P/E (TTM)
- —
- Forward P/E
- 13.1x
- EPS (TTM)
- $-10.44
- Revenue (TTM)
- $180.3B
- +5%
- Free cash flow
- $9.0B
- Gross margin
- 11.4%
- Operating margin
- 3.8%
- Return on equity
- -20.4%
- Dividend yield
- None
- 52-week range
- $31.63 – $72.50
- Beta
- 1.13
- Price / sales
- 0.2x
- EV / EBITDA
- 5.2x
- Debt / equity
- 0.71x
- Employees
- 61,100
CNC report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth4.6%D
- Gross margin11.4%F
- Operating margin3.8%D
- FCF margin5.0%D
- Return on equity-20.4%F
- Net debt / EBITDA-2.4xA
- Forward P/E13.1xA
- PEG ratio0.8xA
- Shareholder yield1.4%D
- Share count change / yr-3.2%A
Centene financials
Revenue went from $37.6B in fiscal 2016 to $174.6B in fiscal 2025, growing 18.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.6B | $45.6B | $56.4B | $70.4B | $103.8B | $118.0B | $135.5B | $140.1B | $145.5B | $174.6B |
| Gross profit | $35.7B | $43.8B | $54.0B | $67.9B | $100.5B | $14.5B | $16.9B | $17.6B | $17.1B | $14.2B |
| Operating income | $1.3B | $1.2B | $1.5B | $1.8B | $3.1B | $1.8B | $1.3B | $2.9B | $3.2B | -$7.6B |
| Net income | $562.0M | $828.0M | $900.0M | $1.3B | $1.8B | $1.3B | $1.2B | $2.7B | $3.3B | -$6.7B |
| EPS (diluted) | $1.71 | $2.34 | $2.26 | $3.14 | $3.12 | $2.28 | $2.07 | $4.95 | $6.31 | $-13.53 |
| Free cash flow | $1.5B | $1.1B | $559.0M | $753.0M | $4.6B | $3.3B | $5.3B | $7.3B | -$490.0M | $4.3B |
| Buybacks | $63.0M | $65.0M | $71.0M | $75.0M | $626.0M | $297.0M | $3.1B | $1.6B | $3.1B | $475.0M |
| Diluted shares | 328.0M | 353.4M | 398.5M | 420.4M | 579.1M | 590.5M | 582.0M | 545.7M | 523.7M | 493.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into CNC?
A reverse DCF asks what growth the current price requires. With an enterprise value of $23.7B and $9.0B of trailing free cash flow, Centene needs to grow free cash flow about -36.1% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -1.4% a year over the last five years.
P/E ratio history
Current 7.1x vs. median 22.7x (10th–90th percentile 10.2x–36.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
CNC analyst price targets
18 analysts' average 12-month target is $71.78 (+2% vs. $70.17). Targets range from $56.00 to $85.00. 38% rate it a buy.
CNC earnings
Next report: October 27, 2026. Centene has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $53.6B (+10% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $1.08 | $2.51 | +132.6% |
| Apr 28, 2026 | $2.13 | $3.37 | +57.9% |
| Feb 6, 2026 | $-1.22 | $-1.19 | +2.5% |
| Oct 29, 2025 | $-0.16 | $0.50 | +404.3% |
| Jul 25, 2025 | $0.21 | $-0.16 | -177.3% |
| Apr 25, 2025 | $2.52 | $2.90 | +15.3% |
| Feb 4, 2025 | $0.49 | $0.80 | +62.2% |
| Oct 25, 2024 | $1.41 | $1.62 | +14.9% |
Stocks like CNC
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 UNH UnitedHealth | -1.62% | +19% | $375.3B | 26.9x | Compare |
 ELV Elevance Health | -1.20% | +30% | $95.4B | 18.7x | Compare |
 HUM Humana | +0.26% | +46% | $50.7B | 39.9x | Compare |
 LLY Eli Lilly and | -2.54% | +56% | $1.1T | 42.7x | Compare |
 JNJ Johnson & Johnson | -1.42% | +40% | $635.1B | 40.0x | Compare |
 ABBV AbbVie | +0.16% | +29% | $504.8B | 80.7x | Compare |
 MRK Merck & | -1.34% | +72% | $358.4B | 117.2x | Compare |
 TMO Thermo Fisher Scientific | -0.40% | +18% | $249.1B | 35.5x | Compare |
CNC news
- Ambetter Health Announces 2027 Marketplace Offerings, Including Enhanced Condition-Specific Coverage Options · Oct 20, 2026
- CENTENE CORPORATION TO HOST 2026 THIRD QUARTER FINANCIAL RESULTS EARNINGS CALL · Oct 19, 2026
- Centene Corporation Demonstrates Commitment to CHOICE Arrangements through Benefit Programs in Indiana, Ohio and Oklahoma · Oct 16, 2026
- Centene's Gold Card Push Could Ease Costs - But Will Savings Follow? · Oct 14, 2026
- Centene CEO: "I didn't get into this business because I thought health care worked well" · Oct 14, 2026
CNC stock FAQ
What is CNC's market cap?
Centene's market capitalization is $34.66 billion as of October 23, 2026, ranking 300th in the S&P 500.
Does CNC pay a dividend?
No. Centene does not currently pay a regular cash dividend.
How much has CNC stock returned?
Including reinvested dividends, CNC returned +104.2% over one year, +0.3% a year over five years, +8.5% a year over ten years through October 23, 2026.
Is CNC stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Centene must grow free cash flow about -36% a year for the next decade. Its free cash flow fell 1% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the CNC price target?
18 analysts cover CNC with an average 12-month price target of $71.78, +2% from the current price. 38% of them rate it a buy.
When does CNC report earnings?
Centene is expected to report earnings on October 27, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Centene have?
Centene has about 61,100 full-time employees, or $3.0 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology