Centene Corp (CNC)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 2,930,000 | 2,842,000 | 2,583,000 | 1,283,000 | 1,318,000 | 2,203,000 | 2,272,000 | 1,983,000 | 1,784,000 | 1,196,000 | 1,512,000 | 3,948,000 | 3,082,000 | 3,344,000 | 2,659,000 | 1,284,000 | 1,781,000 | 1,892,000 | 1,757,000 | 1,603,000 |
| Total assets | US$ in thousands | 84,641,000 | 84,381,000 | 82,853,000 | 82,982,000 | 76,870,000 | 81,172,000 | 81,060,000 | 82,901,000 | 78,375,000 | 77,743,000 | 71,539,000 | 70,285,000 | 68,719,000 | 68,364,000 | 68,347,000 | 66,431,000 | 40,994,000 | 34,252,000 | 34,368,000 | 33,569,000 |
| Operating ROA | 3.46% | 3.37% | 3.12% | 1.55% | 1.71% | 2.71% | 2.80% | 2.39% | 2.28% | 1.54% | 2.11% | 5.62% | 4.48% | 4.89% | 3.89% | 1.93% | 4.34% | 5.52% | 5.11% | 4.78% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $2,930,000K ÷ $84,641,000K
= 3.46%
The operating return on assets (operating ROA) for Centene Corp. has shown some fluctuations over the past eight quarters. In Q4 2022, the operating ROA was relatively high at 4.73%, indicating that the company generated $0.0473 in operating income for every dollar of assets. However, this metric has gradually declined over the subsequent quarters, reaching its lowest point of 4.09% in Q4 2023.
While the operating ROA improved slightly in Q3 2023 to 4.62%, the overall trend suggests a contraction in the company's ability to generate operating income relative to its total assets. It is noteworthy that there was a peak of 4.87% in Q2 2022, indicating a period of stronger performance.
These fluctuations in operating ROA could be attributed to various factors such as changing market conditions, operational efficiency, cost management, and revenue generation strategies employed by Centene Corp. Investors and stakeholders may want to further investigate the drivers behind these fluctuations to assess the company's financial health and operational effectiveness.
Peer comparison
Dec 31, 2023