---
title: Centene (CNC) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/cnc
ticker: CNC
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Healthcare Plans
---
# Centene (CNC)

Centene (CNC) closed at $69.16 on Oct 16, 2026, undervalued by 56% vs its model value of $158.92 (from its peers' median EV/Revenue).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $69.16 (Oct 16, 2026) |
| Model value (from its peers' median EV/Revenue) | $158.92 |
| Price vs model | undervalued by 56% vs model |
| Range of that model | $142.51 – $226.48 |
| Market value | $34.2B |
| P/E (fiscal 2025) | — |
| Net margin (fiscal 2025) | -3.4% |
| Free cash flow (fiscal 2025) | $4.3B |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 1.13 |
| Cost of capital (WACC) | 7.99% |
| Business classification | Loss-Making (Moderate growth (~12% recent), Currently unprofitable, Highly cyclical earnings, Strong FCF yield (12.6%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest free cash flow yield | #16 | 12.6% | https://sweetvaluelab.com/lists/highest-free-cash-flow-yield |
| Near 52-week highs | #49 | −1.9% | https://sweetvaluelab.com/lists/near-52-week-highs |
| Best performing this year | #24 | +68.1% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $0.00 | $0.00 | $0.00 |
| DCF · Perpetuity growth · 10y | cross check | $0.00 | $0.00 | $0.00 |
| DCF · EBITDA exit · 5y | cross check | $0.00 | $0.00 | $0.00 |
| DCF · EBITDA exit · 10y | cross check | $0.00 | $0.00 | $0.00 |
| EV/EBITDA · peers | cross check | $0.00 | $0.00 | $0.00 |
| EV/Revenue · peers | cross check | $158.92 | $142.51 | $226.48 |
| Earnings power value | cross check | $0.00 | $0.00 | $0.00 |
| Dividend discount | cross check | $0.00 | $0.00 | $0.00 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 2 open-market sales ($6.9M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 15, 2026 | Carson Michael A | Group President, Medicare&Spec | Tax withholding | 7,130 | $500,240.8 |
| Sep 30, 2026 | Tyler Lauren M | Director | Grant / award | 482 | $0 |
| Sep 30, 2026 | TANJI KENNETH | Director | Grant / award | 603 | $0 |
| Sep 30, 2026 | Samuels Theodore R. II | Director | Grant / award | 583 | $0 |
| Sep 30, 2026 | EPPINGER FREDERICK H | Director | Grant / award | 864 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 8, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/1071739/000107173926000186/cnc-20261008.htm |
| Sep 16, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/1071739/000107173926000172/cnc-20260916.htm |
| Aug 17, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1071739/000107173926000165/cnc-20260812.htm |
| Jul 29, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/1071739/000107173926000162/cnc-20260729.htm |
| Jul 28, 2026 | 8-K | 2.02 Results of Operations (Earnings); 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1071739/000107173926000154/cnc-20260728.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Bill Nygren | 2026-06-30 | 11,124,640 | $714.1M |
| Einhorn | 2026-06-30 | 1,651,150 | $106.0M |
| Bridgewater | 2026-06-30 | 387,225 | $24.9M |
| Tweedy Browne | 2026-06-30 | 25,121 | $1.6M |

4 tracked managers in all.

## About

Centene Corporation operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States. It operates through four segments: Medicaid, Medicare, Commercial, and Other. The Medicaid segment offers the temporary assistance for needy families; medicaid expansion; aged, blind, or disabled; and children's health insurance programs, as well as long-term services and supports; foster care; and medicare-medicaid plans. This segment also provides healthcare products and services. The Medicare segment offers special needs and medicare supplement, and prescription drug plans. The Commercial segment provides health insurance marketplace product for individual and commercial group. The Other segment operates clinical healthcare and pharmacies, as well as offers vision and dental, behavioral health, and centralized services…

---

Source: https://sweetvaluelab.com/stocks/cnc (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.