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Our mission is to transform the health of the communities we serve, one person at a time. As the nation's largest managed care company focused on underserved populations, Centene is committed to helping people live healthier lives.
The business is unprofitable at the operating level (-3.91% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 19.4%, still solid. Margins contracted 5.9pp, which offsets some of the top-line progress.
ROIC dropped from 4.89% to -14.35%, capital efficiency is deteriorating. Operating margin contracted 5.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$198.10B
▲ +19.4% YoY
Net Income (TTM)
-$6.44B
▼ -301.9% YoY
Op. Margin
-3.68%
▼ -5.9pp YoY
ROIC
-14.46%
▼ -19.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$7.11B
▲ +981.8% YoY
Op. Cash Flow (TTM)
$7.94B
▲ +3203.9% YoY
Net Debt
-$7.37B
Net Cash Position
Cash & Equiv.
$23.74B
5Y CAGR: +11.9%
5Y CAGR: -1.4%
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