Company Valuation: Centene Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 48,081 46,439 39,643 30,585 20,226 33,266 - -
Change - -3.41% -14.63% -22.85% -33.87% 64.47% - -
Enterprise Value (EV) 1 53,801 52,385 40,279 35,055 19,739 28,883 26,446 23,315
Change - -2.63% -23.11% -12.97% -43.69% 46.32% -8.44% -11.84%
P/E 36.1x 39.6x 15x 9.6x -3.04x 17.5x 16.2x 11.4x
PBR 1.79x 1.88x 1.53x 1.14x 1.01x 1.45x 1.3x 1.14x
PEG - -4.3x 0x 0.3x 0x -0x 1.97x 0.3x
Capitalization / Revenue 0.38x 0.32x 0.26x 0.19x 0.1x 0.17x 0.17x 0.17x
EV / Revenue 0.43x 0.36x 0.26x 0.21x 0.1x 0.15x 0.14x 0.12x
EV / EBITDA 9.8x 11.3x 7.36x 7.75x 19.9x 9.95x 8.12x 5.97x
EV / EBIT 13.4x 13.5x 9.63x 8.82x 49.2x 12.6x 10.3x 6.76x
EV / FCF 16.3x 9.96x 5.55x -71.5x 4.57x 5.64x 7.54x 6.15x
FCF Yield 6.12% 10% 18% -1.4% 21.9% 17.7% 13.3% 16.3%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 2.28 2.07 4.95 6.31 -13.53 3.838 4.153 5.915
Distribution rate - - - - - - - -
Net sales 1 1,25,982 1,44,547 1,53,999 1,63,071 1,94,777 1,95,912 1,93,508 2,00,585
EBITDA 1 5,490 4,624 5,475 4,524 991 2,904 3,255 3,903
EBIT 1 4,014 3,888 4,182 3,975 401 2,286 2,568 3,449
Net income 1 1,347 1,202 2,702 3,305 -6,674 1,862 2,048 2,817
Net Debt 1 5,720 5,946 636 4,470 -487 -4,383 -6,819 -9,951
Reference price 2 82.40 82.01 74.21 60.58 41.15 67.34 67.34 67.34
Nbr of stocks (in thousands) 5,83,503 5,66,260 5,34,201 5,04,865 4,91,518 4,93,995 - -
Announcement Date 08/02/22 07/02/23 06/02/24 04/02/25 06/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.55x0.15x9.95x-.--% 3.33TCr
21.68x0.91x13.72x2.3% 36TCr
19.58x0.57x10.68x1.7% 8.8TCr
11.33x0.34x7.26x2.18% 7.47TCr
55.99x0.34x19.64x0.92% 4.81TCr
68.78x0.21x13.07x-.--% 1.06TCr
75.02x0.46x15.31x-.--% 281.9Cr
77.44x0.72x27.07x-.--% 228.4Cr
20.44x1.35x7.8x-.--% 201.71Cr
Average 40.87x 0.56x 13.83x 0.79% 6.9TCr
Weighted average by Cap. 23.82x 0.69x 12.79x 1.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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