# Centene (CNC) Forecast Calculator

Interactive five-year financial forecast and DCF for Centene. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/centene/forecast
- Industry: Healthcare
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 70364000000 | 753000000 | 2424000000 | 1321000000 |
| 2022 | 103800000000 | 4634000000 | 4341000000 | 1808000000 |
| 2023 | 117983000000 | 3295000000 | 3119000000 | 1347000000 |
| 2024 | 135479000000 | 5257000000 | 2748000000 | 1202000000 |
| 2025 | 140095000000 | 7254000000 | 4223000000 | 2702000000 |

## Frequently asked questions

### What does Centene Corporation do?

Centene Corporation is a leading managed care organization (MCO) focused primarily on government-sponsored healthcare programs, serving uninsured and under-insured individuals. The company operates as a health insurer, collecting premiums from states and the federal government to manage the healthcare costs of its members.

### What are Centene's main revenue sources and business segments?

Centene's primary revenue sources stem from its three main business segments: Medicaid, which accounts for approximately 55% of premium revenues, Commercial/Marketplace at about 25%, and Medicare at roughly 20%. The company generates revenue by collecting premiums from state and federal governments for managing healthcare services.

### How does Centene's working capital profile affect its cash flow?

Centene typically exhibits a negative net working capital profile, which is characteristic of its managed care business model. This occurs because the company collects premiums upfront from payers and disburses medical claims later, creating a structural cash flow advantage known as 'float'.

### What is Centene's approach to capital expenditure?

Centene's capital expenditure (Capex) as a percentage of revenue is relatively low, typically ranging from 0.5% to 1.0%. This Capex is predominantly allocated to growth initiatives, particularly in IT investments such as capitalized software for claims processing and digital member platforms.

### What is the primary purpose of the Centene Corporation financial model?

The Centene Corporation financial model is designed to evaluate the company's equity valuation and earnings power. It enables analysts to forecast the normalization of the Health Benefits Ratio post-Medicaid redeterminations, assess the margin impact of the Value Creation Plan, and project membership growth across government-sponsored healthcare segments.

### Can I download an Excel financial model for Centene Corporation?

Yes, an Excel financial model for Centene Corporation is available for download. This general corporate model provides a forecast horizon from FY2026 to FY2030, allowing for detailed financial analysis and scenario planning.