Centene Corp (CNC)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 25,840,000 | 25,295,000 | 25,671,000 | 25,042,000 | 24,057,000 | 25,378,000 | 26,289,000 | 27,169,000 | 26,795,000 | 26,466,000 | 25,911,000 | 26,342,000 | 25,773,000 | 25,725,000 | 25,056,000 | 23,549,000 | 12,551,000 | 12,311,000 | 12,154,000 | 11,540,000 |
| Debt-to-equity ratio | 0.69 | 0.71 | 0.70 | 0.73 | 0.75 | 0.71 | 0.70 | 0.69 | 0.69 | 0.70 | 0.64 | 0.63 | 0.65 | 0.65 | 0.67 | 0.73 | 1.09 | 0.57 | 0.58 | 0.59 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $17,710,000K ÷ $25,840,000K
= 0.69
The debt-to-equity ratio of Centene Corp. has been relatively stable over the past eight quarters, fluctuating between 0.69 and 0.75. A decreasing trend is observed from Q4 2022 to Q1 2023, suggesting a reduction in the company's reliance on debt financing compared to its equity. However, this trend is followed by a slight increase in the ratio in subsequent quarters. The ratios are within a reasonable range, indicating that Centene Corp. has a balanced mix of debt and equity in its capital structure. Overall, the company's debt-to-equity ratio appears to be adequately managed and does not raise immediate concerns about its financial leverage.
Peer comparison
Dec 31, 2023