Recent News
In early November 2025 Centene announced expanded Medicare Advantage and Marketplace plan offerings across multiple states and additional state contract awards, increasing program availability for 2026. On January 6, 2026 market commentary noted a 16.3% three-month share gain and described early stabilization after 2025 cost pressures.
Technical Analysis
Trend strength (ADX/DI): ADX at 19.69 indicates no established trend; DI+ at 29.63 shows a decreasing trend, which reads as bearish pressure relative to prior strength; DI- at 20.33 shows a dip-and-reversal pattern, interpreted here as bearish since DI- has moved higher from its prior dip.
MACD and momentum: MACD sits at 1.60 below the signal line at 1.71 and shows a decreasing trend, a bearish momentum profile given the negative and declining MACD relationship to its signal.
Price vs moving averages and bands: Last close $46.28 trades above the 200-day average of $41.63 and above the 50-day average of $40.93; the 12-day EMA sits at $45.52 and shows an increasing trend, supporting short-term upside bias, while the 20-day average near $46.09 and the Bollinger upper band around $46.72 frame immediate resistance and range limits. The super-trend lower support lies near $44.05.
MRO (Momentum/Regression Oscillator): MRO at -6.06 with a dip-and-reversal description indicates the price sits below WMDST’s target and implies potential upside pressure as the market works toward fair-value alignment.
RSI: RSI at 62.58 with a dip-and-reversal pattern signals regained bullish momentum without overbought extremes, consistent with a near-term rebound bias if momentum holds above mid-60s.
Fundamental Analysis
- Profitability: Net income for the period shows a loss of $6,631,000,000 and EBIT registers negative $6,504,000,000; EBIT margin stands at -13.09%, which sits above the industry peer low of -14.17% but remains below the industry peer mean of 5.33% and median of 3.47%.
- Revenue and growth rates: Total revenue equals $49,690,000,000 with trailing revenue growth of 1.95%; quarter-over-quarter revenue growth reads -57.27% and year-over-year revenue growth reads -64.57% (reported values), indicating volatile period-to-period comparisons that contrast with the modest trailing growth figure.
- Earnings per share and outlook metrics: Reported EPS actual $0.50 versus estimate -$0.16 produced an EPS surprise of $0.66, equal to a 412.5% surprise ratio. Forward EPS sits at $0.7475 with a forward P/E of 19.46, while the trailing P/E records 70.03; the divergence implies market expectations of improving earnings versus the most-recent trailing outcome.
- Cash generation and valuation signals: Free cash flow totaled $1,145,000,000 with a free cash flow yield of 6.65%, which stands above the industry peer mean free cash flow yield of 2.18%; cash and short-term investments total $19,237,000,000 supporting liquidity with a cash ratio near 0.47 and current ratio about 1.08.
- Balance sheet and leverage: Total debt $17,583,000,000 produces debt-to-assets of 21.42%, below the industry peer mean of 34.63%; debt-to-equity sits at 0.839, slightly above the industry peer median of 0.814. Interest expense remains modest at $170,000,000, but interest coverage reads negative given recent losses.
- Operational efficiency: Asset turnover at 0.5899 sits above the industry peer mean of 0.3917, suggesting relatively stronger revenue generation per asset base despite compressed margins; operating margin sits at -0.425% versus an industry peer mean of 7.381%.
- Valuation conclusion: The current valuation as determined by WMDST registers as under-valued, supported by a low price-to-book of 0.82 (below the industry peer mean of 2.20 and median of 1.72), an enterprise-value-to-revenue metric near 0.313, and a free cash flow yield above peer mean, while elevated trailing P/E and negative profitability metrics explain the discount.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 14.6 B |
| Operating Cash Flow | $ 1.4 B | |
| Capital Expenditures | $ -211.00 M | |
| Change In Working Capital | $ 763.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 2.6 B | |
| End Period Cash Flow | $ 17.2 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 49.7 B | |
| Forward Revenue | $ -688.16 M | |
| COSTS | ||
| Cost Of Revenue | $ 46.4 B | |
| Depreciation | $ 147.0 M | |
| Depreciation and Amortization | $ 317.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 49.9 B | |
| PROFITABILITY | ||
| Gross Profit | $ 3.3 B | |
| EBITDA | $ -6.19 B | |
| EBIT | $ -6.50 B | |
| Operating Income | $ -211.00 M | |
| Interest Income | — | |
| Interest Expense | $ 170.0 M | |
| Net Interest Income | $ -170.00 M | |
| Income Before Tax | $ -6.67 B | |
| Tax Provision | $ -42.00 M | |
| Tax Rate | 0.629 % | |
| Net Income | $ -6.63 B | |
| Net Income From Continuing Operations | $ -6.63 B | |
| EARNINGS | ||
| EPS Estimate | $ -0.16 | |
| EPS Actual | $ 0.50 | |
| EPS Difference | $ 0.66 | |
| EPS Surprise | 412.5 % | |
| Forward EPS | $ 0.75 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 82.1 B | |
| Intangible Assets | $ 15.7 B | |
| Net Tangible Assets | $ 5.3 B | |
| Total Current Assets | $ 44.1 B | |
| Cash and Short-Term Investments | $ 19.2 B | |
| Cash | $ 17.1 B | |
| Net Receivables | $ 23.1 B | |
| Inventory | — | |
| Long-Term Investments | $ 2.0 B | |
| LIABILITIES | ||
| Accounts Payable | $ 16.9 B | |
| Short-Term Debt | $ 38.0 M | |
| Total Current Liabilities | $ 40.6 B | |
| Net Debt | $ 525.0 M | |
| Total Debt | $ 17.6 B | |
| Total Liabilities | $ 61.0 B | |
| EQUITY | ||
| Total Equity | $ 20.9 B | |
| Retained Earnings | $ 9.8 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 42.63 | |
| Shares Outstanding | 491.414 M | |
| Revenue Per-Share | $ 101.12 | |
| VALUATION | Market Capitalization | $ 17.2 B |
| Enterprise Value | $ 15.6 B | |
| Enterprise Multiple | -2.514 | |
| Enterprise Multiple QoQ | -103.21 % | |
| Enterprise Multiple YoY | -118.73 % | |
| Enterprise Multiple IPRWA | high: 190.244 median: 35.913 mean: 12.901 CNC: -2.514 low: -105.843 |
|
| EV/R | 0.313 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.919 | |
| Asset To Liability | 1.345 | |
| Debt To Capital | 0.456 | |
| Debt To Assets | 0.214 | |
| Debt To Assets QoQ | 5.284 % | |
| Debt To Assets YoY | 15766.667 % | |
| Debt To Assets IPRWA | high: 0.914 mean: 0.346 median: 0.262 CNC: 0.214 low: 0.005 |
|
| Debt To Equity | 0.839 | |
| Debt To Equity QoQ | 30.872 % | |
| Debt To Equity YoY | 20573.892 % | |
| Debt To Equity IPRWA | high: 3.285 CNC: 0.839 median: 0.814 mean: -0.268 low: -7.485 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.821 | |
| Price To Book QoQ | 28.208 % | |
| Price To Book YoY | -38.348 % | |
| Price To Book IPRWA | high: 11.321 mean: 2.199 median: 1.722 CNC: 0.821 low: -1.461 |
|
| Price To Earnings (P/E) | 70.028 | |
| Price To Earnings QoQ | -176.556 % | |
| Price To Earnings YoY | 59.054 % | |
| Price To Earnings IPRWA | high: 167.73 CNC: 70.028 mean: 60.79 median: 54.99 low: -41.31 |
|
| PE/G Ratio | -0.17 | |
| Price To Sales (P/S) | 0.346 | |
| Price To Sales QoQ | -3.873 % | |
| Price To Sales YoY | -60.002 % | |
| Price To Sales IPRWA | high: 19.515 mean: 2.797 median: 1.147 CNC: 0.346 low: 0.079 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 19.463 | |
| Forward PE/G | -0.047 | |
| Forward P/S | -10.619 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3792.345 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.59 | |
| Asset Turnover Ratio QoQ | 4.944 % | |
| Asset Turnover Ratio YoY | 16.144 % | |
| Asset Turnover Ratio IPRWA | high: 0.945 CNC: 0.59 median: 0.401 mean: 0.392 low: 0.029 |
|
| Receivables Turnover | 2.225 | |
| Receivables Turnover Ratio QoQ | 0.409 % | |
| Receivables Turnover Ratio YoY | -7.683 % | |
| Receivables Turnover Ratio IPRWA | high: 9.084 mean: 3.804 median: 3.655 CNC: 2.225 low: 0.147 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 41.007 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 10.725 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 99.303 median: 15.133 mean: 10.834 CNC: 10.725 low: -55.902 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 14.478 | |
| CapEx To Revenue | -0.004 | |
| CapEx To Depreciation | -1.435 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 38.5 B | |
| Net Invested Capital | $ 38.5 B | |
| Invested Capital | $ 38.5 B | |
| Net Tangible Assets | $ 5.3 B | |
| Net Working Capital | $ 3.4 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.473 | |
| Current Ratio | 1.084 | |
| Current Ratio QoQ | -1.227 % | |
| Current Ratio YoY | -1.258 % | |
| Current Ratio IPRWA | high: 3.196 CNC: 1.084 mean: 1.066 median: 0.88 low: 0.023 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -2.842 | |
| Cost Of Debt | 0.961 % | |
| Interest Coverage Ratio | -38.259 | |
| Interest Coverage Ratio QoQ | 7375.93 % | |
| Interest Coverage Ratio YoY | -713.816 % | |
| Interest Coverage Ratio IPRWA | high: 30.491 mean: 6.456 median: 5.31 low: -11.697 CNC: -38.259 |
|
| Operating Cash Flow Ratio | -0.111 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 30.282 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -4.986 % | |
| Revenue Growth | 1.945 % | |
| Revenue Growth QoQ | -57.272 % | |
| Revenue Growth YoY | -64.572 % | |
| Revenue Growth IPRWA | high: 14.194 % median: 3.999 % mean: 3.327 % CNC: 1.945 % low: -8.694 % |
|
| Earnings Growth | -412.5 % | |
| Earnings Growth QoQ | 250.807 % | |
| Earnings Growth YoY | 1147.807 % | |
| Earnings Growth IPRWA | high: 131.373 % median: 1.754 % mean: -7.05 % low: -66.667 % CNC: -412.5 % |
|
| MARGINS | ||
| Gross Margin | 6.543 % | |
| Gross Margin QoQ | 8.22 % | |
| Gross Margin YoY | -31.858 % | |
| Gross Margin IPRWA | high: 96.429 % mean: 29.098 % median: 14.673 % CNC: 6.543 % low: -4.713 % |
|
| EBIT Margin | -13.089 % | |
| EBIT Margin QoQ | 7253.371 % | |
| EBIT Margin YoY | -601.494 % | |
| EBIT Margin IPRWA | high: 19.623 % mean: 5.327 % median: 3.465 % CNC: -13.089 % low: -14.17 % |
|
| Return On Sales (ROS) | -0.425 % | |
| Return On Sales QoQ | -48.609 % | |
| Return On Sales YoY | -116.284 % | |
| Return On Sales IPRWA | high: 16.487 % mean: 7.381 % median: 2.448 % CNC: -0.425 % low: -12.809 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.1 B | |
| Free Cash Flow Yield | 6.654 % | |
| Free Cash Flow Yield QoQ | -25.919 % | |
| Free Cash Flow Yield YoY | -314.024 % | |
| Free Cash Flow Yield IPRWA | high: 14.006 % CNC: 6.654 % median: 2.383 % mean: 2.181 % low: -12.138 % |
|
| Free Cash Growth | -27.394 % | |
| Free Cash Growth QoQ | -286.468 % | |
| Free Cash Growth YoY | -82.536 % | |
| Free Cash Growth IPRWA | high: 316.092 % CNC: -27.394 % median: -66.858 % mean: -110.735 % low: -300.903 % |
|
| Free Cash To Net Income | -0.173 | |
| Cash Flow Margin | -9.088 % | |
| Cash Flow To Earnings | 0.681 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -7.871 % | |
| Return On Assets QoQ | 2595.548 % | |
| Return On Assets YoY | -1013.109 % | |
| Return On Assets IPRWA | high: 6.141 % median: 1.207 % mean: 0.985 % CNC: -7.871 % low: -14.166 % |
|
| Return On Capital Employed (ROCE) | -15.689 % | |
| Return On Equity (ROE) | -0.317 | |
| Return On Equity QoQ | 3329.577 % | |
| Return On Equity YoY | -1312.371 % | |
| Return On Equity IPRWA | high: 0.237 median: 0.019 mean: -0.051 CNC: -0.317 low: -0.36 |
|
| DuPont ROE | -27.428 % | |
| Return On Invested Capital (ROIC) | -16.774 % | |
| Return On Invested Capital QoQ | 10863.399 % | |
| Return On Invested Capital YoY | 246.213 % | |
| Return On Invested Capital IPRWA | high: 7.692 % median: 2.996 % mean: 2.399 % low: -1.536 % CNC: -16.774 % |
|