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Centene Valuation Multiples

Discover revenue and EBITDA valuation multiples for Centene and similar public comparables like Challenger, NN Group, and ASR Nederland.

Centene Overview

About Centene

Centene is a managed care organization that focuses on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 22 million medical members as of December 2024, mostly in Medicaid (about 60% of membership), the individual exchanges (about 20%), and Medicare (about 5%). The company also has a military contract and provides Medicare Part D pharmaceutical plans.


Founded

1993

HQ

United States of America
Employees

60.5K+

Website

centene.com

Financials

LTM Revenue $170B

LTM EBITDA $4.5B

EV

$29.1B

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Centene Financials

Centene has a last 12-month revenue (LTM) of $170B and a last 12-month EBITDA of $4.5B.

In the most recent fiscal year, Centene achieved revenue of $163B and an EBITDA of $6.2B.

Centene expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Centene P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $170B XXX $163B XXX XXX XXX
Gross Profit $159B XXX $16.8B XXX XXX XXX
Gross Margin 94% XXX 10% XXX XXX XXX
EBITDA $4.5B XXX $6.2B XXX XXX XXX
EBITDA Margin 3% XXX 4% XXX XXX XXX
EBIT $3.7B XXX $3.2B XXX XXX XXX
EBIT Margin 2% XXX 2% XXX XXX XXX
Net Profit $3.7B XXX $3.3B XXX XXX XXX
Net Margin 2% XXX 2% XXX XXX XXX
Net Debt XXX XXX $4.5B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Centene Stock Performance

As of May 30, 2025, Centene's stock price is $56.

Centene has current market cap of $28.1B, and EV of $29.1B.

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Centene Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$29.1B $28.1B XXX XXX XXX XXX $7.22

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Centene Valuation Multiples

As of May 30, 2025, Centene has market cap of $28.1B and EV of $29.1B.

Centene's trades at 0.2x EV/Revenue multiple, and 4.7x EV/EBITDA.

Equity research analysts estimate Centene's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Centene has a P/E ratio of 7.6x.

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Centene Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $28.1B XXX $28.1B XXX XXX XXX
EV (current) $29.1B XXX $29.1B XXX XXX XXX
EV/Revenue 0.2x XXX 0.2x XXX XXX XXX
EV/EBITDA 6.4x XXX 4.7x XXX XXX XXX
EV/EBIT 7.8x XXX 9.1x XXX XXX XXX
EV/Gross Profit 0.2x XXX n/a XXX XXX XXX
P/E 7.6x XXX 8.5x XXX XXX XXX
EV/FCF 19.5x XXX -59.4x XXX XXX XXX

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Centene Margins & Growth Rates

Centene's last 12 month revenue growth is 6%

Centene's revenue per employee in the last FY averaged $2.7M, while opex per employee averaged $0.2M for the same period.

Centene's rule of 40 is 10% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Centene's rule of X is 19% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Centene Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 6% XXX 6% XXX XXX XXX
EBITDA Margin 3% XXX 4% XXX XXX XXX
EBITDA Growth 1% XXX -10% XXX XXX XXX
Rule of 40 10% XXX 10% XXX XXX XXX
Bessemer Rule of X XXX XXX 19% XXX XXX XXX
Revenue per Employee XXX XXX $2.7M XXX XXX XXX
Opex per Employee XXX XXX $0.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 8% XXX XXX XXX

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Centene Public Comps

See public comps and valuation multiples for Insurance Carriers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNIC XXX XXX XXX XXX XXX XXX
Aegon XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
NN Group XXX XXX XXX XXX XXX XXX
Challenger XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Centene M&A and Investment Activity

Centene acquired  XXX companies to date.

Last acquisition by Centene was  XXXXXXXX, XXXXX XXXXX XXXXXX . Centene acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Centene

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Centene

When was Centene founded? Centene was founded in 1993.
Where is Centene headquartered? Centene is headquartered in United States of America.
How many employees does Centene have? As of today, Centene has 60.5K+ employees.
Who is the CEO of Centene? Centene's CEO is Ms. Sarah M. London.
Is Centene publicy listed? Yes, Centene is a public company listed on NYS.
What is the stock symbol of Centene? Centene trades under CNC ticker.
When did Centene go public? Centene went public in 2001.
Who are competitors of Centene? Similar companies to Centene include e.g. ADNIC, Aegon, ASR Nederland, NN Group.
What is the current market cap of Centene? Centene's current market cap is $28.1B
What is the current revenue of Centene? Centene's last 12 months revenue is $170B.
What is the current revenue growth of Centene? Centene revenue growth (NTM/LTM) is 6%.
What is the current EV/Revenue multiple of Centene? Current revenue multiple of Centene is 0.2x.
Is Centene profitable? Yes, Centene is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Centene? Centene's last 12 months EBITDA is $4.5B.
What is Centene's EBITDA margin? Centene's last 12 months EBITDA margin is 3%.
What is the current EV/EBITDA multiple of Centene? Current EBITDA multiple of Centene is 6.4x.
What is the current FCF of Centene? Centene's last 12 months FCF is $1.5B.
What is Centene's FCF margin? Centene's last 12 months FCF margin is 1%.
What is the current EV/FCF multiple of Centene? Current FCF multiple of Centene is 19.5x.

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