PerpEquities

Equity

Centene Corp. (CNC) perpetual futures

Centene Corporation is a US managed care company providing health programs and services to under-insured families and commercial organizations through Medicaid, Medicare, Commercial and Other segments.

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Perpetual market activity

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24h volume
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Settlement mix
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Perp/spot vol.
-
OI / float
-
Spot performance
1D-0.20%
5D-2.48%
1M-0.06%
6M+88.90%
YTD+57.91%
1Y+98.72%

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Company data

Company fundamentals

Updated 1h ago
Market cap
$32.1B
Updated 1h ago
Revenue
$193.7B
Trailing 12 months
Revenue growth
+1%
Next fiscal year
Profit margin
-2.6%
P/E
-6.2
Peer P/E 15.1
Free cash flow
$9B
Trailing 12 months
More metrics
Net income
-$5.1B
Trailing 12 months
P/S
0.2
Peer P/E
15.1
Similar listed perps
Revenue estimate
$195.9B
Next fiscal year
Earnings
2026-10-27
Revenue est. $47.1B · Updated 1h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$194.8B
Net margin-3.4%
Free cash flow$4.3B
Net debt$889M
2020$111.1B
2021$126B
2022$144.5B
2023$154B
2024$163.1B
2025$194.8B
PeriodRevenueGrowthNet incomeFCF
2020$111.1B+49%$1.8B$4.6B
2021$126B+13%$1.3B$3.3B
2022$144.5B+15%$1.2B$5.3B
2023$154B+7%$2.7B$7.3B
2024$163.1B+6%$3.3B-$490M
2025$194.8B+19%-$6.7B$4.3B
PeriodGross marginOperating marginNet marginROEROA
2020+13.7%+2.8%+1.6%+7.0%+2.6%
2021+11.3%+1.4%+1.1%+5.0%+1.7%
2022+11.5%+0.9%+0.8%+5.0%+1.6%
2023+11.2%+1.9%+1.8%+10.5%+3.2%
2024+10.3%+1.9%+2.0%+12.5%+4.0%
2025+12.2%-3.9%-3.4%-33.4%-8.6%
PeriodCashDebtNet debtCurrent ratio
2020$10.8B$18.3B$7.5B1.08
2021$13.1B$22.7B$9.5B1.11
2022$12.1B$21.3B$9.3B1.06
2023$17.2B$18.9B$1.7B1.11
2024$14.1B$19.4B$5.4B1.11
2025$17.9B$18.8B$889M1.68
PeriodMarket capEnterprise valueP/SP/E
2020$34.3B$41.8B0.318.9
2021$48B$57.6B0.435.7
2022$47.2B$56.4B0.339.2
2023$40.3B$42B0.314.9
2024$31.6B$37B0.29.6
2025$20.2B$21.1B0.1-3.0
Q3 2024$42B
Q4 2024$40.8B
Q1 2025$46.6B
Q2 2025$48.7B
Q3 2025$49.7B
Q4 2025$49.7B
Q1 2026$49.9B
Q2 2026$44.4B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$42B+10%$713M-$1.1B
Q4 2024$40.8B+3%$283M-$741M
Q1 2025$46.6B+15%$1.3B$1.4B
Q2 2025$48.7B+22%-$253M$1.6B
Q3 2025$49.7B+18%-$6.6B$1.1B
Q4 2025$49.7B+22%-$1.1B$224M
Q1 2026$49.9B+7%$1.5B$3.4B
Q2 2026$44.4B-9%$1.1B$4.2B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+9.6%+1.6%+1.7%+2.6%+0.9%
Q4 2024+9.1%+0.4%+0.7%+1.1%+0.3%
Q1 2025+11.2%+3.3%+2.8%+4.7%+1.5%
Q2 2025+6.0%-0.9%-0.5%-0.9%-0.3%
Q3 2025+16.4%-14.0%-13.3%-31.7%-8.1%
Q4 2025+15.2%-3.5%-2.2%-5.5%-1.4%
Q1 2026+21.9%+3.7%+3.1%+7.2%+1.9%
Q2 2026+10.4%+3.1%+2.5%+4.8%+1.3%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$14.6B$17.6B$3B1.10
Q4 2024$14.1B$19.4B$5.4B1.11
Q1 2025$14.8B$18.3B$3.5B1.11
Q2 2025$14.5B$17.6B$3.1B1.10
Q3 2025$17.1B$17.6B$525M1.08
Q4 2025$17.9B$18.8B$889M1.68
Q1 2026$21.3B$16.4B-$4.9B1.12
Q2 2026$24.2B$16.1B-$8B1.15
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$39.3B$42.3B0.913.7
Q4 2024$30.3B$35.7B0.726.6
Q1 2025$30.1B$33.6B0.65.7
Q2 2025$26.8B$29.9B0.5-26.6
Q3 2025$17.5B$18B0.4-0.7
Q4 2025$20.2B$21.1B0.4-4.6
Q1 2026$16.1B$11.2B0.32.6
Q2 2026$31.7B$23.7B0.77.3

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$44.4BQ2 2026
$12.5B$25B$37.5B$49.9BQ3 2023: $38BQ4 2023: $39.5BQ1 2024: $40.4BQ2 2024: $39.8BQ3 2024: $42BQ4 2024: $40.8BQ1 2025: $46.6BQ2 2025: $48.7BQ3 2025: $49.7BQ4 2025: $49.7BQ1 2026: $49.9BQ2 2026: $44.4BQ3 2023Q2 2026
Net income$1.1BQ2 2026
-$4.6B-$2.5B-$502M$1.5BQ3 2023: $469MQ4 2023: $45MQ1 2024: $1.2BQ2 2024: $1.1BQ3 2024: $713MQ4 2024: $283MQ1 2025: $1.3BQ2 2025: -$253MQ3 2025: -$6.6BQ4 2025: -$1.1BQ1 2026: $1.5BQ2 2026: $1.1BQ3 2023Q2 2026
EBITDA$1.8BQ2 2026
-$4B-$1.8B$375.3M$2.6BQ3 2023: $1.3BQ4 2023: $522MQ1 2024: $2BQ2 2024: $2BQ3 2024: $1.4BQ4 2024: $833MQ1 2025: $2.2BQ2 2025: $228MQ3 2025: -$6.2BQ4 2025: -$1BQ1 2026: $2.6BQ2 2026: $1.8BQ3 2023Q2 2026
Free cash flow$4.2BQ2 2026
$201.5M$1.5B$2.9B$4.2BQ3 2023: $885MQ4 2023: -$6MQ1 2024: -$607MQ2 2024: $2BQ3 2024: -$1.1BQ4 2024: -$741MQ1 2025: $1.4BQ2 2025: $1.6BQ3 2025: $1.1BQ4 2025: $224MQ1 2026: $3.4BQ2 2026: $4.2BQ3 2023Q2 2026
EPS$2.19Q2 2026
-$9.35-$5.2-$1.04$3.11Q3 2023: $0.87Q4 2023: $0.08Q1 2024: $2.16Q2 2024: $2.16Q3 2024: $1.36Q4 2024: $0.56Q1 2025: $2.63Q2 2025: -$0.51Q3 2025: -$13.5Q4 2025: -$2.24Q1 2026: $3.11Q2 2026: $2.19Q3 2023Q2 2026
Cash / Debt$24.2BQ2 2026
$6B$12.1B$18.1B$24.2BQ3 2023 · Cash: $18.2BQ3 2023 · Debt: $19.1BQ4 2023 · Cash: $17.2BQ4 2023 · Debt: $18.9BQ1 2024 · Cash: $17.6BQ1 2024 · Debt: $18BQ2 2024 · Cash: $17.6BQ2 2024 · Debt: $17.6BQ3 2024 · Cash: $14.6BQ3 2024 · Debt: $17.6BQ4 2024 · Cash: $14.1BQ4 2024 · Debt: $19.4BQ1 2025 · Cash: $14.8BQ1 2025 · Debt: $18.3BQ2 2025 · Cash: $14.5BQ2 2025 · Debt: $17.6BQ3 2025 · Cash: $17.1BQ3 2025 · Debt: $17.6BQ4 2025 · Cash: $17.9BQ4 2025 · Debt: $18.8BQ1 2026 · Cash: $21.3BQ1 2026 · Debt: $16.4BQ2 2026 · Cash: $24.2BQ2 2026 · Debt: $16.1BQ3 2023Q2 2026
CashDebt
Profitability+10.4%Q2 2026
-5.0%+4.0%+12.9%+21.9%Q3 2023 · Gross margin: +12.0%Q4 2023 · Gross margin: +9.3%Q1 2024 · Gross margin: +11.5%Q2 2024 · Gross margin: +11.1%Q3 2024 · Gross margin: +9.6%Q4 2024 · Gross margin: +9.1%Q1 2025 · Gross margin: +11.2%Q2 2025 · Gross margin: +6.0%Q3 2025 · Gross margin: +16.4%Q4 2025 · Gross margin: +15.2%Q1 2026 · Gross margin: +21.9%Q2 2026 · Gross margin: +10.4%Q3 2023 · Operating margin: +1.9%Q4 2023 · Operating margin: -0.5%Q1 2024 · Operating margin: +2.7%Q2 2024 · Operating margin: +3.1%Q3 2024 · Operating margin: +1.6%Q4 2024 · Operating margin: +0.4%Q1 2025 · Operating margin: +3.3%Q2 2025 · Operating margin: -0.9%Q3 2025 · Operating margin: -14.0%Q4 2025 · Operating margin: -3.5%Q1 2026 · Operating margin: +3.7%Q2 2026 · Operating margin: +3.1%Q3 2023 · Net margin: +1.2%Q4 2023 · Net margin: +0.1%Q1 2024 · Net margin: +2.9%Q2 2024 · Net margin: +2.9%Q3 2024 · Net margin: +1.7%Q4 2024 · Net margin: +0.7%Q1 2025 · Net margin: +2.8%Q2 2025 · Net margin: -0.5%Q3 2025 · Net margin: -13.3%Q4 2025 · Net margin: -2.2%Q1 2026 · Net margin: +3.1%Q2 2026 · Net margin: +2.5%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth-9.0%Q2 2026
-1.1%+6.7%+14.5%+22.4%Q3 2024: +10.5%Q4 2024: +3.4%Q1 2025: +15.4%Q2 2025: +22.4%Q3 2025: +18.2%Q4 2025: +21.9%Q1 2026: +7.1%Q2 2026: -9.0%Q3 2023Q2 2026
Shares outstanding497.6MQ2 2026
135.3M270.6M406M541.3MQ3 2023: 541.3MQ4 2023: 537.6MQ1 2024: 538.1MQ2 2024: 530.8MQ3 2024: 523.5MQ4 2024: 502MQ1 2025: 498.2MQ2 2025: 493.5MQ3 2025: 491.1MQ4 2025: 491.1MQ1 2026: 495.6MQ2 2026: 497.6MQ3 2023Q2 2026
Valuation7.3Q2 2026
35.196.9158.6220.3Q3 2023 · P/E: 19.8Q4 2023 · P/E: 220.3Q1 2024 · P/E: 9.0Q2 2024 · P/E: 7.6Q3 2024 · P/E: 13.7Q4 2024 · P/E: 26.6Q1 2025 · P/E: 5.7Q2 2025 · P/E: -26.6Q3 2025 · P/E: -0.7Q4 2025 · P/E: -4.6Q1 2026 · P/E: 2.6Q2 2026 · P/E: 7.3Q3 2023 · P/S: 1.0Q4 2023 · P/S: 1.0Q1 2024 · P/S: 1.0Q2 2024 · P/S: 0.9Q3 2024 · P/S: 0.9Q4 2024 · P/S: 0.7Q1 2025 · P/S: 0.6Q2 2025 · P/S: 0.5Q3 2025 · P/S: 0.4Q4 2025 · P/S: 0.4Q1 2026 · P/S: 0.3Q2 2026 · P/S: 0.7Q3 2023Q2 2026
P/EP/S
Revenue$194.8B2025
$48.7B$97.4B$146.1B$194.8B2018: $60.1B2019: $74.6B2020: $111.1B2021: $126B2022: $144.5B2023: $154B2024: $163.1B2025: $194.8B20182025
Net income-$6.7B2025
-$4.2B-$1.7B$810.5M$3.3B2018: $900M2019: $1.3B2020: $1.8B2021: $1.3B2022: $1.2B2023: $2.7B2024: $3.3B2025: -$6.7B20182025
EBITDA-$5.1B2025
-$2.3B$529.8M$3.4B$6.2B2018: $2.2B2019: $2.8B2020: $4.8B2021: $3.8B2022: $4.1B2023: $5.6B2024: $6.2B2025: -$5.1B20182025
Free cash flow$4.3B2025
$1.4B$3.4B$5.3B$7.3B2018: $559M2019: $753M2020: $4.6B2021: $3.3B2022: $5.3B2023: $7.3B2024: -$490M2025: $4.3B20182025
EPS-$13.62025
-$8.64-$3.65$1.33$6.312018: $2.262019: $3.142020: $3.122021: $2.282022: $2.072023: $4.952024: $6.312025: -$13.620182025
Cash / Debt$17.9B2025
$5.7B$11.3B$17B$22.7B2018 · Cash: $5.3B2018 · Debt: $6.7B2019 · Cash: $12.1B2019 · Debt: $14.5B2020 · Cash: $10.8B2020 · Debt: $18.3B2021 · Cash: $13.1B2021 · Debt: $22.7B2022 · Cash: $12.1B2022 · Debt: $21.3B2023 · Cash: $17.2B2023 · Debt: $18.9B2024 · Cash: $14.1B2024 · Debt: $19.4B2025 · Cash: $17.9B2025 · Debt: $18.8B20182025
CashDebt
Profitability+12.2%2025
+0.6%+5.0%+9.5%+14.0%2018 · Gross margin: +14.0%2019 · Gross margin: +11.8%2020 · Gross margin: +13.7%2021 · Gross margin: +11.3%2022 · Gross margin: +11.5%2023 · Gross margin: +11.2%2024 · Gross margin: +10.3%2025 · Gross margin: +12.2%2018 · Operating margin: +2.4%2019 · Operating margin: +2.4%2020 · Operating margin: +2.8%2021 · Operating margin: +1.4%2022 · Operating margin: +0.9%2023 · Operating margin: +1.9%2024 · Operating margin: +1.9%2025 · Operating margin: -3.9%2018 · Net margin: +1.5%2019 · Net margin: +1.8%2020 · Net margin: +1.6%2021 · Net margin: +1.1%2022 · Net margin: +0.8%2023 · Net margin: +1.8%2024 · Net margin: +2.0%2025 · Net margin: -3.4%20182025
Gross marginOperating marginNet margin
Revenue growth+19.4%2025
+12.2%+24.4%+36.7%+48.9%2019: +24.2%2020: +48.9%2021: +13.4%2022: +14.7%2023: +6.5%2024: +5.9%2025: +19.4%20182025
Shares outstanding491.1M2025
147.6M295.3M442.9M590.5M2018: 398.5M2019: 420.4M2020: 579.1M2021: 590.5M2022: 582M2023: 545.7M2024: 523.7M2025: 491.1M20182025
Valuation-3.02025
7.518.128.739.22018 · P/E: 25.02019 · P/E: 19.72020 · P/E: 18.92021 · P/E: 35.72022 · P/E: 39.22023 · P/E: 14.92024 · P/E: 9.62025 · P/E: -3.02018 · P/S: 0.42019 · P/S: 0.32020 · P/S: 0.32021 · P/S: 0.42022 · P/S: 0.32023 · P/S: 0.32024 · P/S: 0.22025 · P/S: 0.120182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-10-27
Revenue est. $47.1B · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20264.87$195.9B+1%12
FY 20275.30$193.5B-1%12
FY 20286.54$200.2B+3%5
FY 20298.71$207.1B+6%1
FY 20309.84$216.9B+11%1
Q1 20273.33$49B-2%5

Company events

6
2026-10-27EarningsActual - / Estimate 0.07-
2026-07-28EarningsActual 2.51 / Estimate 1.09Beat
2026-04-28EarningsActual 3.37 / Estimate 2.23Beat
2026-02-06EarningsActual -1.19 / Estimate -1.22Beat
2025-10-29EarningsActual 0.5 / Estimate -0.14Beat
2025-07-25EarningsActual -0.16 / Estimate 0.11Miss

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
TECK$32.2B3.218.3+17.9%1BIIB$32.4B3.338.6+8.4%3HBAN$32.4B2.211.8+16.6%1OKTA$31.8B10.3113.2+9.6%7MDB$32.8B11.8557.6+2.1%12BIDU$31.4B1.7-44.5-3.8%2VG$33.4B2.010.0+21.5%2ZS$33.5B10.0-531.1-1.9%11

Analyst track record

How the analysts covering CNC have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings119322
Analysts2129
Buy / hold / sell53 / 58 / 8173 / 135 / 14
Upgrades / downgrades / initiations5 / 0 / 210 / 11 / 6
Price targets hit / missed75 / 35 (68%)116 / 181 (39%)
Avg. return after a rating (TipRanks)+29.2%+10.5%
Best / worst call+116.6% / -18.8%+132.1% / -40.9%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Sep 17, 2026Andrew Mok CFABarclaysBuyMaintained$80.00article ↗
Sep 15, 2026Stephen BaxterWells FargoHoldMaintained$69.00article ↗
Sep 11, 2026Kevin FischbeckBank of America SecuritiesBuyMaintained$80.00article ↗
Sep 9, 2026Lance WilkesBernsteinBuyMaintained$79.00article ↗
Sep 4, 2026Lance WilkesBernsteinBuyMaintained$79.00article ↗

TipRanks data via FMP · computed Sep 22, 2026 · 119 ratings

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