Centene Corp (CNC)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	17,710,000	17,888,000	17,896,000	18,223,000	17,938,000	18,084,000	18,456,000	18,640,000	18,571,000	18,594,000	16,536,000	16,695,000	16,682,000	16,737,000	16,708,000	17,150,000	13,638,000	6,975,000	7,047,000	6,775,000
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
Debt-to-assets ratio		0.21	0.21	0.22	0.22	0.23	0.22	0.23	0.22	0.24	0.24	0.23	0.24	0.24	0.24	0.24	0.26	0.33	0.20	0.21	0.20

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $17,710,000K ÷ $84,641,000K
= 0.21

The debt-to-assets ratio for Centene Corp. has been relatively stable over the past eight quarters, ranging between 0.21 and 0.23. This ratio indicates that Centene Corp. finances approximately 21% to 23% of its assets through debt, with the remaining being funded by equity.

A lower debt-to-assets ratio suggests that the company has a lower level of financial risk, as it relies more on equity financing. Conversely, a higher ratio could indicate higher financial leverage and potential risk.

Overall, Centene Corp.'s consistent debt-to-assets ratio within this range indicates a balanced approach to financing its operations and investments, neither overly reliant on debt nor overly conservative in its capital structure. However, it is important to consider other financial ratios and performance metrics in conjunction with the debt-to-assets ratio to gain a more comprehensive understanding of the company's financial health and risk profile.