Intrinsic value of Centene - CNC

Previous Close

$90.92

  Intrinsic Value

$116.97

stock screener

  Rating & Target

buy

+29%

  Value-price divergence*

-120%

Previous close

$90.92

 
Intrinsic value

$116.97

 
Up/down potential

+29%

 
Rating

buy

 
Value-price divergence*

-120%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CNC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 15.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  78.41
  9.70
  9.23
  8.81
  8.43
  8.08
  7.78
  7.50
  7.25
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.08
  5.97
  5.87
  5.78
  5.71
  5.63
  5.57
  5.51
  5.46
  5.42
  5.37
  5.34
  5.30
  5.27
  5.25
  5.22
Revenue, $m
  0
  44,546
  48,657
  52,943
  57,404
  62,044
  66,868
  71,882
  77,092
  82,506
  88,134
  93,985
  100,070
  106,402
  112,994
  119,858
  127,011
  134,468
  142,245
  150,361
  158,833
  167,683
  176,929
  186,594
  196,701
  207,274
  218,337
  229,917
  242,041
  254,738
  268,039
Variable operating expenses, $m
 
  43,119
  47,056
  51,158
  55,429
  59,872
  64,491
  69,291
  74,279
  79,462
  84,850
  89,981
  95,807
  101,869
  108,180
  114,752
  121,600
  128,739
  136,185
  143,955
  152,066
  160,539
  169,391
  178,645
  188,321
  198,443
  209,035
  220,121
  231,729
  243,886
  256,620
Fixed operating expenses, $m
 
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  6
  6
Total operating expenses, $m
  39,347
  43,122
  47,059
  51,161
  55,432
  59,875
  64,494
  69,295
  74,283
  79,466
  84,854
  89,985
  95,811
  101,873
  108,184
  114,756
  121,604
  128,744
  136,190
  143,960
  152,071
  160,544
  169,396
  178,650
  188,326
  198,449
  209,041
  220,127
  231,735
  243,892
  256,626
Operating income, $m
  1,260
  1,424
  1,599
  1,781
  1,971
  2,169
  2,374
  2,588
  2,810
  3,040
  3,280
  4,000
  4,259
  4,529
  4,810
  5,102
  5,407
  5,724
  6,056
  6,401
  6,762
  7,139
  7,533
  7,944
  8,375
  8,825
  9,296
  9,790
  10,306
  10,847
  11,413
EBITDA, $m
  1,538
  2,002
  2,187
  2,380
  2,580
  2,789
  3,006
  3,232
  3,466
  3,710
  3,963
  4,226
  4,500
  4,785
  5,081
  5,390
  5,712
  6,047
  6,397
  6,762
  7,144
  7,542
  7,958
  8,393
  8,847
  9,323
  9,821
  10,342
  10,887
  11,459
  12,057
Interest expense (income), $m
  165
  261
  338
  419
  504
  592
  683
  778
  877
  980
  1,086
  1,197
  1,313
  1,433
  1,558
  1,687
  1,823
  1,964
  2,111
  2,264
  2,424
  2,591
  2,766
  2,948
  3,139
  3,338
  3,546
  3,764
  3,993
  4,232
  4,482
Earnings before tax, $m
  1,157
  1,163
  1,261
  1,362
  1,468
  1,577
  1,691
  1,810
  1,933
  2,060
  2,193
  2,803
  2,947
  3,096
  3,252
  3,415
  3,584
  3,760
  3,945
  4,137
  4,338
  4,548
  4,767
  4,996
  5,236
  5,487
  5,750
  6,025
  6,313
  6,615
  6,931
Tax expense, $m
  599
  314
  340
  368
  396
  426
  457
  489
  522
  556
  592
  757
  796
  836
  878
  922
  968
  1,015
  1,065
  1,117
  1,171
  1,228
  1,287
  1,349
  1,414
  1,482
  1,553
  1,627
  1,705
  1,786
  1,871
Net income, $m
  562
  849
  920
  994
  1,071
  1,151
  1,235
  1,321
  1,411
  1,504
  1,601
  2,046
  2,151
  2,260
  2,374
  2,493
  2,616
  2,745
  2,880
  3,020
  3,167
  3,320
  3,480
  3,647
  3,822
  4,006
  4,198
  4,398
  4,609
  4,829
  5,060

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  20,197
  22,151
  24,196
  26,327
  28,545
  30,852
  33,251
  35,744
  38,335
  41,027
  43,826
  46,735
  49,761
  52,910
  56,188
  59,601
  63,158
  66,866
  70,733
  74,769
  78,982
  83,383
  87,981
  92,787
  97,813
  103,070
  108,571
  114,330
  120,359
  126,673
  133,287
Adjusted assets (=assets-cash), $m
  20,197
  22,151
  24,196
  26,327
  28,545
  30,852
  33,251
  35,744
  38,335
  41,027
  43,826
  46,735
  49,761
  52,910
  56,188
  59,601
  63,158
  66,866
  70,733
  74,769
  78,982
  83,383
  87,981
  92,787
  97,813
  103,070
  108,571
  114,330
  120,359
  126,673
  133,287
Revenue / Adjusted assets
  0.000
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
Average production assets, $m
  1,508
  1,648
  1,800
  1,959
  2,124
  2,296
  2,474
  2,660
  2,852
  3,053
  3,261
  3,477
  3,703
  3,937
  4,181
  4,435
  4,699
  4,975
  5,263
  5,563
  5,877
  6,204
  6,546
  6,904
  7,278
  7,669
  8,078
  8,507
  8,956
  9,425
  9,917
Working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total debt, $m
  4,655
  6,036
  7,484
  8,992
  10,563
  12,196
  13,895
  15,660
  17,494
  19,400
  21,382
  23,442
  25,584
  27,813
  30,134
  32,551
  35,069
  37,694
  40,432
  43,290
  46,272
  49,388
  52,643
  56,046
  59,604
  63,327
  67,222
  71,298
  75,567
  80,037
  84,720
Total liabilities, $m
  14,302
  15,683
  17,131
  18,639
  20,210
  21,843
  23,542
  25,307
  27,141
  29,047
  31,029
  33,089
  35,231
  37,460
  39,781
  42,198
  44,716
  47,341
  50,079
  52,937
  55,919
  59,035
  62,290
  65,693
  69,251
  72,974
  76,869
  80,945
  85,214
  89,684
  94,367
Total equity, $m
  5,895
  6,468
  7,065
  7,687
  8,335
  9,009
  9,709
  10,437
  11,194
  11,980
  12,797
  13,647
  14,530
  15,450
  16,407
  17,404
  18,442
  19,525
  20,654
  21,833
  23,063
  24,348
  25,690
  27,094
  28,561
  30,096
  31,703
  33,384
  35,145
  36,988
  38,920
Total liabilities and equity, $m
  20,197
  22,151
  24,196
  26,326
  28,545
  30,852
  33,251
  35,744
  38,335
  41,027
  43,826
  46,736
  49,761
  52,910
  56,188
  59,602
  63,158
  66,866
  70,733
  74,770
  78,982
  83,383
  87,980
  92,787
  97,812
  103,070
  108,572
  114,329
  120,359
  126,672
  133,287
Debt-to-equity ratio
  0.790
  0.930
  1.060
  1.170
  1.270
  1.350
  1.430
  1.500
  1.560
  1.620
  1.670
  1.720
  1.760
  1.800
  1.840
  1.870
  1.900
  1.930
  1.960
  1.980
  2.010
  2.030
  2.050
  2.070
  2.090
  2.100
  2.120
  2.140
  2.150
  2.160
  2.180
Adjusted equity ratio
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292
  0.292

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  562
  849
  920
  994
  1,071
  1,151
  1,235
  1,321
  1,411
  1,504
  1,601
  2,046
  2,151
  2,260
  2,374
  2,493
  2,616
  2,745
  2,880
  3,020
  3,167
  3,320
  3,480
  3,647
  3,822
  4,006
  4,198
  4,398
  4,609
  4,829
  5,060
Depreciation, amort., depletion, $m
  278
  578
  588
  598
  609
  620
  632
  644
  656
  669
  683
  226
  240
  256
  271
  288
  305
  323
  342
  361
  382
  403
  425
  448
  473
  498
  525
  552
  582
  612
  644
Funds from operations, $m
  2,635
  1,427
  1,508
  1,593
  1,680
  1,772
  1,866
  1,965
  2,067
  2,174
  2,284
  2,272
  2,391
  2,516
  2,646
  2,781
  2,921
  3,068
  3,221
  3,381
  3,548
  3,723
  3,905
  4,096
  4,295
  4,504
  4,722
  4,951
  5,190
  5,441
  5,704
Change in working capital, $m
  784
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  1,851
  1,427
  1,508
  1,593
  1,680
  1,772
  1,866
  1,965
  2,067
  2,174
  2,284
  2,272
  2,391
  2,516
  2,646
  2,781
  2,921
  3,068
  3,221
  3,381
  3,548
  3,723
  3,905
  4,096
  4,295
  4,504
  4,722
  4,951
  5,190
  5,441
  5,704
Maintenance CAPEX, $m
  0
  -98
  -107
  -117
  -127
  -138
  -149
  -161
  -173
  -185
  -198
  -212
  -226
  -240
  -256
  -271
  -288
  -305
  -323
  -342
  -361
  -382
  -403
  -425
  -448
  -473
  -498
  -525
  -552
  -582
  -612
New CAPEX, $m
  -1,603
  -141
  -152
  -159
  -165
  -172
  -178
  -186
  -193
  -200
  -208
  -216
  -225
  -234
  -244
  -254
  -265
  -276
  -288
  -300
  -313
  -327
  -342
  -358
  -374
  -391
  -409
  -428
  -449
  -470
  -492
Cash from investing activities, $m
  -2,397
  -239
  -259
  -276
  -292
  -310
  -327
  -347
  -366
  -385
  -406
  -428
  -451
  -474
  -500
  -525
  -553
  -581
  -611
  -642
  -674
  -709
  -745
  -783
  -822
  -864
  -907
  -953
  -1,001
  -1,052
  -1,104
Free cash flow, $m
  -546
  1,189
  1,249
  1,317
  1,388
  1,462
  1,539
  1,619
  1,702
  1,788
  1,878
  1,844
  1,940
  2,041
  2,146
  2,255
  2,369
  2,487
  2,611
  2,739
  2,873
  3,014
  3,160
  3,313
  3,473
  3,640
  3,815
  3,998
  4,189
  4,390
  4,600
Issuance/(repayment) of debt, $m
  2,870
  1,381
  1,448
  1,509
  1,571
  1,634
  1,698
  1,765
  1,834
  1,906
  1,981
  2,060
  2,142
  2,229
  2,321
  2,417
  2,518
  2,625
  2,738
  2,857
  2,983
  3,116
  3,255
  3,403
  3,558
  3,722
  3,895
  4,077
  4,268
  4,470
  4,683
Issuance/(repurchase) of shares, $m
  -63
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,717
  1,381
  1,448
  1,509
  1,571
  1,634
  1,698
  1,765
  1,834
  1,906
  1,981
  2,060
  2,142
  2,229
  2,321
  2,417
  2,518
  2,625
  2,738
  2,857
  2,983
  3,116
  3,255
  3,403
  3,558
  3,722
  3,895
  4,077
  4,268
  4,470
  4,683
Total cash flow (excl. dividends), $m
  2,170
  2,570
  2,697
  2,826
  2,959
  3,096
  3,237
  3,384
  3,536
  3,694
  3,859
  3,904
  4,083
  4,270
  4,467
  4,672
  4,887
  5,112
  5,349
  5,596
  5,856
  6,129
  6,415
  6,716
  7,031
  7,362
  7,710
  8,075
  8,458
  8,860
  9,282
Retained Cash Flow (-), $m
  -3,738
  -573
  -597
  -622
  -648
  -674
  -700
  -728
  -756
  -786
  -817
  -850
  -884
  -919
  -957
  -997
  -1,039
  -1,083
  -1,129
  -1,178
  -1,230
  -1,285
  -1,343
  -1,403
  -1,468
  -1,535
  -1,606
  -1,681
  -1,760
  -1,844
  -1,931
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,996
  2,100
  2,204
  2,311
  2,422
  2,537
  2,656
  2,779
  2,908
  3,042
  3,054
  3,199
  3,351
  3,510
  3,675
  3,848
  4,030
  4,219
  4,418
  4,626
  4,844
  5,073
  5,312
  5,564
  5,827
  6,103
  6,393
  6,697
  7,016
  7,351
Discount rate, %
 
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
 
  1,861
  1,811
  1,747
  1,671
  1,583
  1,486
  1,382
  1,271
  1,157
  1,040
  887
  780
  676
  577
  485
  401
  326
  261
  204
  157
  118
  86
  62
  43
  30
  20
  13
  8
  5
  3
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company's Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children's Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace. Its Specialty Services segment consists of its specialty companies offering a range of healthcare services and products to state programs, correctional facilities, healthcare organizations, employer groups and other commercial organizations, as well as to its own subsidiaries.

FINANCIAL RATIOS  of  Centene (CNC)

Valuation Ratios
P/E Ratio 27.8
Price to Sales 0.4
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 8.4
Price to Free Cash Flow 63
Growth Rates
Sales Growth Rate 78.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 854.2%
Cap. Spend. - 3 Yr. Gr. Rate 65%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 78.9%
Total Debt to Equity 79%
Interest Coverage 8
Management Effectiveness
Return On Assets 4.7%
Ret/ On Assets - 3 Yr. Avg. 5.6%
Return On Total Capital 8.1%
Ret/ On T. Cap. - 3 Yr. Avg. 10.6%
Return On Equity 14%
Return On Equity - 3 Yr. Avg. 16.8%
Asset Turnover 2.9
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 3.9%
EBITDA Margin - 3 Yr. Avg. 3.8%
Operating Margin 3.1%
Oper. Margin - 3 Yr. Avg. 3%
Pre-Tax Margin 2.8%
Pre-Tax Margin - 3 Yr. Avg. 2.9%
Net Profit Margin 1.4%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 51.8%
Eff/ Tax Rate - 3 Yr. Avg. 47.8%
Payout Ratio 0%

CNC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CNC stock intrinsic value calculation we used $40607 million for the last fiscal year's total revenue generated by Centene. The default revenue input number comes from 2016 income statement of Centene. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CNC stock valuation model: a) initial revenue growth rate of 9.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for CNC is calculated based on our internal credit rating of Centene, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Centene.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CNC stock the variable cost ratio is equal to 96.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3 million in the base year in the intrinsic value calculation for CNC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.6% for Centene.

Corporate tax rate of 27% is the nominal tax rate for Centene. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CNC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CNC are equal to 3.7%.

Life of production assets of 15.4 years is the average useful life of capital assets used in Centene operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CNC is equal to 0%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5895 million for Centene - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 172.293 million for Centene is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Centene at the current share price and the inputted number of shares is $15.7 billion.

RELATED COMPANIES Price Int.Val. Rating
MOH Molina Healthc 59.86 194.13  str.buy
WCG WellCare Healt 167.92 188.17  hold
AET Aetna 151.44 116.75  sell
UNH UnitedHealth G 193.20 183.79  hold
MGLN Magellan Healt 84.45 1,453.60  str.buy
GTS Triple-S Manag 23.61 17.92  sell
ANTM Anthem 183.76 225.77  hold
HUM Humana 237.17 158.63  sell

COMPANY NEWS

▶ Stocks Sputter While Facebook Climbs Past Its Buy Point   [Oct-17-17 01:27PM  Investor's Business Daily]
▶ How Kansas, Missouri health markets will respond to Trump orders   [Oct-16-17 04:10PM  American City Business Journals]
▶ Trump says Obamacare is dead   [01:01PM  MarketWatch]
▶ [$$] Major Health Insurers Anticipated End of Subsidies   [Oct-13-17 11:18PM  The Wall Street Journal]
▶ [$$] Major Health Insurers Anticipated End of Subsidies   [06:46PM  The Wall Street Journal]
▶ Small Gains In Indexes Persist, But Alphabet Breaks Out   [12:13PM  Investor's Business Daily]
▶ Trump Executive Order Hits ObamaCare Insurers   [12:29PM  Investor's Business Daily]
▶ 4 HMOS for Gains Amid Constant Regulatory Chaos   [Oct-09-17 03:11PM  Zacks]
▶ Does Centene Corporations (CNC) PE Ratio Warrant A Buy?   [Sep-30-17 10:12AM  Simply Wall St.]
▶ Stocks With Rising Relative Strength: Molina Healthcare   [03:00AM  Investor's Business Daily]
▶ Why the Republicans bomb on health care   [11:24AM  Yahoo Finance]
▶ McCain Pulls Plug On GOP Health Bill; Insurers, Hospitals Rally   [Sep-22-17 04:07PM  Investor's Business Daily]
▶ Centene: Cramer's Top Takeaways   [06:38AM  TheStreet.com]
▶ Healthcare Reform: Who Suffers?   [04:26PM  Barrons.com]
▶ Company News For Sep 14, 2017   [Sep-14-17 10:37AM  Zacks]
▶ The Hot Stock: Centene Soars 8%   [Sep-13-17 04:58PM  Barrons.com]
▶ Centene Shares Spike on Fidelis Buy   [12:01PM  TheStreet.com]
▶ Centene Still Looking Bullish   [10:15AM  TheStreet.com]
▶ Stocks Open Mixed, Apple, Western Dive After Toshiba Agreement   [09:43AM  Investor's Business Daily]
▶ Fidelis acquired in $3.75B deal by Centene Corp   [08:52AM  American City Business Journals]
▶ S&P 500 Futures: Apple Leads 5 Stocks Active Overnight   [12:31AM  Investor's Business Daily]
▶ [$$] Business Watch   [Sep-12-17 10:12PM  The Wall Street Journal]
Financial statements of CNC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.