Recent News
Apr 6, 2026: Centene created two new executive leadership positions reporting to the CEO. Apr 2, 2026: Subsidiaries Carolina Complete Health and WellCare of North Carolina received approvals to combine into a provider-led managed care organization. Mar 27, 2026: The Centene Foundation and Carolina Complete Health announced a major affordable housing investment and groundbreaking in Winston‑Salem. May 12, 2026: Proxy materials and the 2025 Annual Report were distributed to shareholders.
Technical Analysis
ADX registers at 52.66, indicating a very strong trend underpinning recent price direction and amplifying the significance of directional signals.
DI+ shows a peak & reversal, which signals a bearish shift in directional strength; DI- is decreasing, which signals bullish directional pressure—this divergence suggests competing directional forces rather than a clean single-direction breakout.
MACD stands at 4.85 and sits above its signal line (4.02); MACD increasing and above the signal line constitutes a bullish momentum signal and supports near-term upside.
MRO at 13.47 (positive) indicates the current price sits above the short-term regression target, implying a measured risk of price compression toward target levels despite bullish momentum.
RSI at 65.43 and increasing shows bullish momentum approaching overbought territory; momentum may persist but leaves limited upside before short-term consolidation becomes more likely.
Price structure favors the bulls: the close at $58.70 sits above the 12‑day EMA ($54.61), 20‑day average ($54.29) and well above the 200‑day average ($38.02), confirming upward pressure across short and long horizons; the super trend lower at $54.27 provides a near-term support reference.
Fundamental Analysis
Profitability: EBIT equals $2.263B, with an EBIT margin of 4.53%. That margin sits below the industry peer mean of 8.65% and below the industry peer median of 5.30%, while remaining above the industry peer low of 0.77%, indicating recovery but room to close the gap to peers.
Revenue and growth: Total revenue reached $49.944B. QoQ revenue growth printed at 5.29%, while YoY revenue change shows -96.91% per the provided figure; sequential recovery appears present but year-over-year comparators reflect prior-period adjustments embedded in the data set.
Earnings and cash generation: Reported EPS of $3.37 exceeded the estimate of $2.13 by $1.24, producing an EPS surprise of 58.22%. Operating cash flow totaled $4.366B and free cash flow reached $4.166B, producing a free cash flow yield of 21.95%, notably above the industry peer mean of 2.98% and supporting a stronger cash-based valuation narrative.
Balance sheet and leverage: Cash and short-term investments total $23.741B against total debt of $16.371B. Debt to assets sits at 20.17%, below the industry peer mean of 41.94%, while debt to equity equals 0.76, slightly above the industry peer median of 0.73. Interest coverage near 13.8x signals comfortable coverage of interest expense.
Operational efficiency: Asset turnover at 0.633 is above the industry peer mean of 0.393, supporting effective revenue generation from invested assets. Cash conversion cycle stands at ~4.88 days, better than the industry peer mean of 22.40 days, indicating efficient working capital management.
Valuation: WMDST values the stock as under-valued. Market capitalization equals $18.98B with an enterprise multiple of 4.53 and a PE ratio of 11.45; those multiples and the elevated free cash flow yield underpin WMDST’s under-valued determination while operating margins still lag peer medians, suggesting upside if margin recovery continues.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-28 |
| NEXT REPORT DATE: | 2026-07-28 |
| CASH FLOW | Begin Period Cash Flow | $ 18.0 B |
| Operating Cash Flow | $ 4.4 B | |
| Capital Expenditures | $ -200.00 M | |
| Change In Working Capital | $ 2.5 B | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 3.4 B | |
| End Period Cash Flow | $ 21.4 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 49.9 B | |
| Forward Revenue | $ 4.5 B | |
| COSTS | ||
| Cost Of Revenue | $ 44.4 B | |
| Depreciation | $ 134.0 M | |
| Depreciation and Amortization | $ 300.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 48.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 5.6 B | |
| EBITDA | $ 2.6 B | |
| EBIT | $ 2.3 B | |
| Operating Income | $ 1.9 B | |
| Interest Income | — | |
| Interest Expense | $ 164.0 M | |
| Net Interest Income | $ -164.00 M | |
| Income Before Tax | $ 2.1 B | |
| Tax Provision | $ 560.0 M | |
| Tax Rate | 26.679 % | |
| Net Income | $ 1.5 B | |
| Net Income From Continuing Operations | $ 1.5 B | |
| EARNINGS | ||
| EPS Estimate | $ 2.13 | |
| EPS Actual | $ 3.37 | |
| EPS Difference | $ 1.24 | |
| EPS Surprise | 58.216 % | |
| Forward EPS | $ 1.12 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 81.2 B | |
| Intangible Assets | $ 15.2 B | |
| Net Tangible Assets | $ 6.2 B | |
| Total Current Assets | $ 45.0 B | |
| Cash and Short-Term Investments | $ 23.7 B | |
| Cash | $ 21.3 B | |
| Net Receivables | $ 19.4 B | |
| Inventory | — | |
| Long-Term Investments | $ 2.3 B | |
| LIABILITIES | ||
| Accounts Payable | $ 16.8 B | |
| Short-Term Debt | $ 63.0 M | |
| Total Current Liabilities | $ 40.0 B | |
| Net Debt | — | |
| Total Debt | $ 16.4 B | |
| Total Liabilities | $ 59.6 B | |
| EQUITY | ||
| Total Equity | $ 21.4 B | |
| Retained Earnings | $ 10.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 43.57 | |
| Shares Outstanding | 493.771 M | |
| Revenue Per-Share | $ 101.56 | |
| VALUATION | Market Capitalization | $ 19.0 B |
| Enterprise Value | $ 11.6 B | |
| Enterprise Multiple | 4.529 | |
| Enterprise Multiple QoQ | -126.166 % | |
| Enterprise Multiple YoY | -67.7 % | |
| Enterprise Multiple IPRWA | high: 82.342 mean: 36.48 median: 33.441 low: 10.495 CNC: 4.529 |
|
| EV/R | 0.232 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.788 | |
| Asset To Liability | 1.361 | |
| Debt To Capital | 0.433 | |
| Debt To Assets | 0.202 | |
| Debt To Assets QoQ | -14.777 % | |
| Debt To Assets YoY | -4.176 % | |
| Debt To Assets IPRWA | high: 0.816 mean: 0.419 median: 0.31 CNC: 0.202 low: 0.154 |
|
| Debt To Equity | 0.764 | |
| Debt To Equity QoQ | -16.062 % | |
| Debt To Equity YoY | 16.425 % | |
| Debt To Equity IPRWA | high: 2.744 CNC: 0.764 median: 0.732 mean: -1.26 low: -7.908 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.886 | |
| Price To Book QoQ | -12.786 % | |
| Price To Book YoY | -18.264 % | |
| Price To Book IPRWA | high: 6.333 mean: 1.914 median: 1.563 CNC: 0.886 low: -0.307 |
|
| Price To Earnings (P/E) | 11.452 | |
| Price To Earnings QoQ | -133.072 % | |
| Price To Earnings YoY | -45.381 % | |
| Price To Earnings IPRWA | high: 165.793 mean: 46.022 median: 35.418 CNC: 11.452 low: -6.601 |
|
| PE/G Ratio | -0.03 | |
| Price To Sales (P/S) | 0.38 | |
| Price To Sales QoQ | -6.753 % | |
| Price To Sales YoY | -41.438 % | |
| Price To Sales IPRWA | high: 8.255 mean: 2.78 median: 1.367 CNC: 0.38 low: 0.151 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 38.694 | |
| Forward PE/G | -0.101 | |
| Forward P/S | 4.737 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -600.746 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.633 | |
| Asset Turnover Ratio QoQ | 1.019 % | |
| Asset Turnover Ratio YoY | 14.977 % | |
| Asset Turnover Ratio IPRWA | high: 1.061 CNC: 0.633 median: 0.397 mean: 0.393 low: 0.15 |
|
| Receivables Turnover | 2.661 | |
| Receivables Turnover Ratio QoQ | 10.297 % | |
| Receivables Turnover Ratio YoY | 20.312 % | |
| Receivables Turnover Ratio IPRWA | high: 9.342 mean: 3.602 CNC: 2.661 median: 2.236 low: 0.645 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 34.285 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 4.878 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 101.8 mean: 22.403 median: 19.637 CNC: 4.878 low: -49.905 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 10.102 | |
| CapEx To Revenue | -0.004 | |
| CapEx To Depreciation | -1.493 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 37.7 B | |
| Net Invested Capital | $ 37.8 B | |
| Invested Capital | $ 37.8 B | |
| Net Tangible Assets | $ 6.2 B | |
| Net Working Capital | $ 4.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.593 | |
| Current Ratio | 1.123 | |
| Current Ratio QoQ | 2.122 % | |
| Current Ratio YoY | 1.067 % | |
| Current Ratio IPRWA | high: 1.711 CNC: 1.123 mean: 0.959 median: 0.834 low: 0.818 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.387 | |
| Cost Of Debt | 0.696 % | |
| Interest Coverage Ratio | 13.799 | |
| Interest Coverage Ratio QoQ | -268.596 % | |
| Interest Coverage Ratio YoY | 22.432 % | |
| Interest Coverage Ratio IPRWA | high: 17.352 CNC: 13.799 mean: 6.33 median: 6.088 low: 1.286 |
|
| Operating Cash Flow Ratio | 0.093 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 29.407 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 5.77 % | |
| Revenue Growth | 0.44 % | |
| Revenue Growth QoQ | 528.571 % | |
| Revenue Growth YoY | -96.912 % | |
| Revenue Growth IPRWA | high: 21.958 % CNC: 0.44 % mean: -0.879 % median: -2.07 % low: -7.833 % |
|
| Earnings Growth | -383.193 % | |
| Earnings Growth QoQ | 13.371 % | |
| Earnings Growth YoY | -245.978 % | |
| Earnings Growth IPRWA | high: 428.571 % mean: 48.785 % median: -3.589 % low: -360.354 % CNC: -383.193 % |
|
| MARGINS | ||
| Gross Margin | 11.128 % | |
| Gross Margin QoQ | 124.31 % | |
| Gross Margin YoY | -0.269 % | |
| Gross Margin IPRWA | high: 96.442 % mean: 34.302 % median: 32.815 % CNC: 11.128 % low: 9.466 % |
|
| EBIT Margin | 4.531 % | |
| EBIT Margin QoQ | -263.87 % | |
| EBIT Margin YoY | 10.243 % | |
| EBIT Margin IPRWA | high: 37.528 % mean: 8.654 % median: 5.303 % CNC: 4.531 % low: 0.769 % |
|
| Return On Sales (ROS) | 3.726 % | |
| Return On Sales QoQ | -250.363 % | |
| Return On Sales YoY | -9.343 % | |
| Return On Sales IPRWA | high: 37.538 % median: 13.864 % mean: 10.935 % CNC: 3.726 % low: 1.255 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 4.2 B | |
| Free Cash Flow Yield | 21.951 % | |
| Free Cash Flow Yield QoQ | 1886.516 % | |
| Free Cash Flow Yield YoY | 382.97 % | |
| Free Cash Flow Yield IPRWA | CNC: 21.951 % high: 13.5 % mean: 2.981 % median: 2.266 % low: -7.715 % |
|
| Free Cash Growth | 1759.821 % | |
| Free Cash Growth QoQ | -2287.825 % | |
| Free Cash Growth YoY | -716.27 % | |
| Free Cash Growth IPRWA | CNC: 1759.821 % high: 298.093 % median: 2.874 % mean: -24.361 % low: -455.219 % |
|
| Free Cash To Net Income | 2.703 | |
| Cash Flow Margin | 7.456 % | |
| Cash Flow To Earnings | 2.417 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.952 % | |
| Return On Assets QoQ | -240.837 % | |
| Return On Assets YoY | 26.18 % | |
| Return On Assets IPRWA | high: 4.991 % CNC: 1.952 % mean: 1.724 % median: 1.426 % low: -0.44 % |
|
| Return On Capital Employed (ROCE) | 5.502 % | |
| Return On Equity (ROE) | 0.072 | |
| Return On Equity QoQ | -230.337 % | |
| Return On Equity YoY | 53.152 % | |
| Return On Equity IPRWA | high: 0.146 CNC: 0.072 mean: 0.048 median: 0.039 low: 0.002 |
|
| DuPont ROE | 7.447 % | |
| Return On Invested Capital (ROIC) | 4.39 % | |
| Return On Invested Capital QoQ | -267.302 % | |
| Return On Invested Capital YoY | 40.705 % | |
| Return On Invested Capital IPRWA | high: 7.1 % CNC: 4.39 % mean: 3.723 % median: 2.946 % low: 0.635 % |
|