Centene Corp (CNC)
Return on assets (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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 2,702,000 | 2,444,000 | 2,713,000 | 1,483,000 | 1,202,000 | 2,014,000 | 1,860,000 | 1,497,000 | 1,347,000 | 736,000 | 720,000 | 2,461,000 | 1,808,000 | 2,029,000 | 1,556,000 | 845,000 | 1,321,000 | 1,353,000 | 1,277,000 | 1,082,000 |
| 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 |
| ROA | 3.19% | 2.90% | 3.27% | 1.79% | 1.56% | 2.48% | 2.29% | 1.81% | 1.72% | 0.95% | 1.01% | 3.50% | 2.63% | 2.97% | 2.28% | 1.27% | 3.22% | 3.95% | 3.72% | 3.22% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $2,702,000K ÷ $84,641,000K
= 3.19%
The return on assets (ROA) of Centene Corp. has been fluctuating over the past eight quarters, ranging from 1.56% to 3.27%. In Q4 2023, the company's ROA was at 3.19%, indicating that for every dollar of assets, Centene generated a profit of approximately 3.19 cents. This represents an improvement from the previous quarter where the ROA was at 2.90%.
Overall, the trend shows that the company's ability to generate profit from its assets has been increasing since Q1 2023. This could imply effective management of the company's assets to generate higher returns. However, it is worth noting that the ROA was considerably lower in Q1 and Q2 2022 compared to more recent quarters, indicating a period of lower profitability from assets.
It would be beneficial to further analyze the components influencing the ROA, such as net income and total assets, to gain a deeper understanding of Centene Corp.'s financial performance and efficiency in utilizing its assets to generate profits.
Peer comparison
Dec 31, 2023